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How do I get ADA?
- ADA can be purchased on major crypto exchanges such as Binance, Huobi, HitBTC, cyypto.com or Bittrex. Most popular trading pairs as of now are ADA/BTC and ADA/USDT.
What is staking?
- Staking is a method of securing the network and equivalent of hashing power in P.O.W. The more stake a pool controls, the more often it is elected to produce a block thus it provides more rewards for it's delegates.
Is there any risk?
- No. While staking, none of your funds leave your wallet are always available never locked and ready for you to withdraw/send. By delegating to a pool you simply let the network know that you contribute to said pool's staking power which increases blocks assignment.
How much can I earn?
- The official numbers state between 5.5 to 6% APR. This is the return on ADA tokens plus potential increase in value.
Are there any fees?
- INDYS pool will operate on the minimum allowed fixed fee which is 340 ADA this cost is divided and shared among all delegates of the pool per epoch. We promise to keep the variable fee no higher than needed to maintain the pools currently no higher than 1% per pool.
How do I choose a stake pool?
- The best way to choose a stake pool is to look at the ranking in Daedalus wallet. It provides good insight on overall pool's performance, including blocks assigned to blocks produced ratio, total delegated stake and pledge amount.
- The most important rule of staking is to avoid saturated pools as those will pay lesser rewards for all delegates. The color-coding provides information whether given stake pool is far or close to saturation point (green - good, yellow - getting close, red - saturated or over-saturated).
How are rewards distributed?
- The rewards are distributed automatically, according to your stake. On your initial stake from your very first pool there is a delay of 3 full epochs before you see rewards 15 - 20 days depending on when you staked within the epoch. After this initial first delegation delay from your very first pool the rewards come every epoch however these rewards are always offset by 1 calculating epoch before being distributed. Example: rewards in epoch 110 would be calculated in epoch 111 and awarded in epoch 112.
What is an epoch?
- An epoch is how long each rewards period is on the network currently each epoch is 5 full days.
I am already staking my funds in another pool, how do I switch?
- The pool you're delegating to can be change at any moment. It will take 2 epochs before you start receiving rewards from the new pool but if your previous pool is still making rewards it will likely be a seamless transition as the rewards from the other pool are still offset as you transition to the new pool.
Can I delegate to more than 1 pool at a time?
- Yes, however you have to create a separate wallet with desired delegation amount. The delegation system stakes whole amount of a wallet of your choice to 1 pool at a time currently.
Do I need to pay taxes on my staking rewards?
- It will depend on the regulations in your country/state but generally earnings are taxable. Please consult a tax professional for more information on your specific location.