In the about page of ANP you can now find a more detailed timeline and history of the pool so new delegators can understand where the pool came from and how it has evolved.
Recently on the 5th of April NBX hosted a digital breakfast meeting with the topic of Staking 101 with a particular focus on Cardano and Ethereum. Eystein as Head of staking operations also showcased some of the work NBX is doing on a staking platform on NBX for Cardano.
Content is in Norwegian.
Ada North Pool ticker ANP is extending its reward program for World Moble tokens that started on valentines day 14.february. We are adjusting rewards so that you will get 0.25 WMT per wallet per epoch as well as 0.00002 WMT per ADA delegated.
See vending machine for details and how to claim rewards through vending machine.
To help users claim World Mobile Tokens as well as other rewards, here is a small guide on how to do so: https://adanorthpool.com/vending-machine-rewards/
This valentines ANP and http://NBX.com wanted to give back something to our delegators. We really love the project World Mobile and the new cool Vending Machine by @seal_pool (https://adaseal.eu/) so we will experiment with World Mobile tokens as delegator rewards:
Token rewards will be 1 World Mobile token (WMT) to each delegator with atleast 100 ADA delegated to the pool and that have been a delegator for atleast 1 epoch already. We will also give 0.00002 WMT per ada staked per epoch for delegators with more than 100 ADA.
Token pool is currently 694 World Mobile tokens so the rewards might last around 4-5 Epochs and is an experiment. Big shoutout to @seal_pool for making Vending Machine possible and also check out his pool https://adaseal.eu
Rewards earned can be checked on https://vm.adaseal.eu where you get instructions on how to claim as well. Keep in mind there will be a transaction fee to claim the WMT in ADA.
This is a tryout and an experiment. We love to support Vending Machine and how Vending Machine is supporting Single Pool Operators. However there might be dragons and things might break.
Token rewards is subject to change. It would cost a bit to send ada to multiple wallets, then claim the WMT then send back WMT to a single wallet so we believe the 1 WMT per 100 ADA delegator will not be abused but we might adjust in the future just in case.
Finally the rewards needs to be claimed within 10 Epochs or they will go back to the pools balance for future distributions. You can however accumulate up to this point and then do a single withdraw of rewards.
In an effort to optimize our setup even further (we allready have data center grade network cards and multiple fiber connections) ANP have today installed a NTP timeserver to help reduce the time it takes to synchronize time with the rest of the world. This helps with blockpropagation and keeping below the recommended 100% within 5s
I am attending the Plutus Cohort #3 so I can better understand smart contracts on Cardano. Week 1 was a lot of struggles due to stubborn me wanting to make it easy to run through windows with windows wsl (a way to run a linux subsystem inside windows itself) (most of the cohorts seems to have gone down the route of virtual machine to run ubuntu or such) but I finally got it set up and with a good IDE with VSCode connected to the linux subsystem so I can do the workflow in windows and compile and run in Ubuntu on the same computer. Week 2 is so far great fun and I am sure Week 3 is going to be fun as well. Lars Brünjes is a great teacher and the community is already doing guides for further understanding.
The Plutus course will be a great suppliment to the Atala Prism course I finished where I learned to work with decentralized identifiers through Atala Prism and sets me up to do more building in the ecosystem in the future.
Today we announced that ANP donated 33.3k NOK the whole income of December to Haukeland hospital as part of a larger Norwegian cryotocurrency charity effort.
See the following stream where the announcement is made at the end (in Norwegian): https://youtu.be/cbiCPAz6baY?t=3353
Firstly we need to go through some theory on how staking works at a protocol level, then we will look at how to delegate from wallets itself.
Time periods in Cardano: Epochs, slots and nominations.
The Cardano network has time periods called Epochs that last 432000 slots and each slot lasts 1 second. That means an epoch lasts 5 days. On average a pool node is expected to be nominated for block production every 20 seconds, and there are roughly 21600 nominations per epoch. This is determined by the active slot coefficient that currently is at 5% meaning that out of all the slots only 5% will at most be eligible for the pool to produce blocks. This is also why the network health is sometimes reported in chain density and ideally this number is close to 5% currently.
For each successful nomination there is a chance for a block to be produced on the network. Due to randomization and also pool block production issues each epoch is usually never 21600 blocks as can be seen on Cardano blockchain explorers (https://explorer.cardano.org/en) where the average hovers around 21000 blocks per epoch. This can among other reasons be caused by delays in block production due to latency issues, wrongly configured time synchronization, or hardware resources issues such as too low specs on memory or CPU power to calculate and report the block on the blockchain in time.
Timing and the delegation process: Delegation certificate, Snapshot, Active stake and Live stake, rewards calculation and rewards distribution.
So let us say that we are currently in epoch N — for example epoch 307 — and you decide to delegate your ADA to a staking pool such as ADA North Pool. Your wallet will generate a staking key with a delegation certificate at a cost of a transaction currently around 0.17 ADA and a deposit of what is currently 2 ADA, meaning you need 2.17 ADA on an account to register for delegation.
Snapshot, active and live stake.
Assuming you create a delegation certificate in epoch N the snapshot of your wallet ADA amount will be taken at the start of epoch N+1 with the value held at the last block of epoch N, in the example this will be epoch 308. It then become the active stake in epoch N+2. In the example this would be epoch 309. The live stake is the amount at any given snapshot you hold in your wallet, and becomes the active stake in the next epoch after the snapshot. That means that if you move founds out of your wallet and back in again before the last block of the current epoch you will still register with the same amount, or for example if you buy more ada your live stake will increase, and will be registered in the snapshot in the next epoch and become the active stake in the the epoch after this.
Rewards are calculated in epoch N+3, in the example this would be epoch 310. That means rewards are always calculated for the previous epoch. It will be based on such factors as blocks produced by pool during epoch N+2 (the active stake period) and the overall reward pool that is distributed will also be influenced by factors such as transaction fees collected during the epoch on the network. The pool will also collect fees before rewards are distributed. It is important here to know that there is a minimum fee of 340 (pools can choose to increase this but never under the minimum fee parameter) ADA that is a cost spread out over all delegators of a pool, and also there is a % fee that each pool will deduct from each delegators reward. You can find a reward calculator here: https://cardano.org/calculator/?calculator=delegator and at the time of writing this guide you can expect on average around 4.6% annual return on your delegation.
Rewards are distributed at the start of the epoch after rewards calculation (technically at the end of the last block of the rewards calculation epoch) so N+4 or. In this example this would mean epoch 311. Keep in mind these are the rewards for the stake that was active in epoch N+2 (in this example epoch 309). These rewards are automatically part of the delegation of the wallet, but you will need to claim the rewards in a transaction (0.17 ADA currently) to send them from your wallet. At this point you will keep receiving rewards every epoch as long as you have an active stake amount.
I recently had the pleasure of announcing a new chairty effort 5. december in a norwegian stream https://youtu.be/OdfYBfnCjBQ
Norwegian Block Exchange (nbx.com) will donate all of December profits from ADA North Pool to a norwegian joint Charity to Haukeland sykehus child department. This is a collaboration involving the most of the norwegian cryptocurrency community and NBX is happy to support this effort together with other norwegian cryptocurrency organisations and companies.