We’re going to produce blocks. [Update #2]

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First of all a big thank you to all people who delegated their stakes to this pool. I have good news for all of you: We’re going to produce blocks in epoch 210 and we will therefore be among the first pools ever to create blocks in the shelley mainnet.

At exactly 21:44:51 UTC on August 3, 2020 epoch 209 started and the very first stake snapshot took place.

Source: https://forum.cardano.org/t/the-shelley-hard-fork-all-you-need-to-know/36553

At this point in time 4,273,250.559953 ADA were delegated to this pool. Based on the calculations the stake is high enough that we will produce blocks in epoch 210 and receive rewards for that. The currently expected yearly rewards should be around 4.7%. Depending on the development of the pool, up to 5.2% are possible.

We had a good start and we’ll continue to do everything in the future to offer you safe and reliable staking.

For more information and general FAQs regarding the Shelley hard fork, as well as delegation & rewards you could read this blog post: The Shelley hard fork: all you need to know

[UPDATE]:

As discussed by Charles in his video about “The Shelley Hybrid Era and the d parameter” the above mentioned delegation cycle was postponed by one cycle for the whole cardano network. According to this new cycle pools will start making blocks in shelley epoch 3 (211) instead of shelley epoch 2 (210). This affects every pool in the network. Just wanted to keep you informed.

[UPDATE #2]:

To keep you up to date here are some current numbers:

At 2020/08/08 21:44:51 UTC epoch 210 started and the second stake snapshot was taken. As I already mentioned in the first update the delegation cycle was postponed, which means that this snapshot will (hopefully) be the basis to determine who will be making blocks in epoch 211. The good news: We’re still in! As of my estimations at the time of the snapshot about 6.72 million ADA were staked in this pool, which should be (according to my calculations) enough to mint at least one block (which requires about ~4.6 million ADA staked) and therefore earning rewards. Since the selection of slot leaders is still subject to a certain randomness we need to wait for epoch 211 to see the real numbers. I also rechecked the expected yearly rewards and they are still floating around 4.7%. Please note, that the rewards could be lower or higher in the first few epochs but will level out over time.

Talk to you soon 🙂

Staking with adalite.io and Ledger / Trezor

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After Cardano has successfully entered the Shelley era, it is time to talk about staking. In particular about staking with a hardware wallet from Ledger or Trezor. Adalite.io was the first provider where you can easily stake directly with your hardware wallet and keep your keys safe.

The process itself is really simple, but we need to make sure that all prerequsities are fulfilled. Please make sure that your Ledger is initialized and its firmware as well as its Cardano app is up to date, by checking it in Ledger Live. Trezor Users also need to make sure that their firmware is up to date.

  • Go to adalite.io
  • Choose the option Hardware Wallet
  • Connect your Hardware Wallet, Ledger users need to enter the PIN and open the Cardano app.
  • Select Unlock with the device of your choice.
  • Follow the procedure to export your public key (this request will happen twice on the ledger)
  • Now you see a staking balance and a non-staking balance, here you need to select convert to stakable
  • Check and confirm the transaction on your device. What’s happening here: Your ADA from your Legacy Byron Wallet will be transferred to your Shelley Wallet for staking. The receiving address is the one with the index /0 in AdaLite on the Sending tab under My Addresses. Make sure it matches with the address shown by your ledger.
  • You can now enter your Stake Pool directly on the right side. If I helped you with this little guide, you are welcome to use my pool: 6b51a5aae5b4b5f07f38acf12816b4f8a558ee2840d0dba69040aeb2
    You also have the advantage of very low fees of 0.5% and therefore get higher rewards than in other pools. You will see the information about the pool and can complete the process by clicking the Delegate button.
    If you rather want to stake with another pool you can check them out at adapools.org, cardanoscan.io or pooltool.io
  • Check and confirm the delegation on your device.

If everything worked adalite will now display your current delegation.

Congratulations, you are now a stakeholder and will soon receive your first rewards.