STOIC Pool is a fresh stake pool that was founded in Epoch 218, September 2020.
The pool was set up by a group of people in the UK who were passionate about the decentralization of the crypto community and wanted to do more than just stake to help support the network.
Although it was initially started for a few enthusiasts to stake for themselves, we are committed to growing every month as more people stake to our pool.
We have a multi-phase growth plan that will help establish us as a major stake pool in 2021, but right now we are focused on our humble beginnings.
This article is going to lay out our 3 Phase plan to build a strong and stable platform for you to stake your ADA and earn solid rewards for supporting the network and the community.
- Phase 1 – Seed (EOY 2020)
- Phase 2 – Growth (April 2021)
- Phase 3 – Stability (August 2021)
The Seed Phase
The seed phase is really well underway already, it is about setting up the pool and starting us off with bringing delegates into the pool.
We started with a very small pledge of 15k but will be increasing that every month until we hit at least 50k.
This is not going to be our final pledge but it is our initial target for Phase 1 of our growth as a pool, to show you guys we are dedicated to supporting the network long term.
We currently work with 2 Relay Nodes but also plan to increase this number as the stake pool grows to provide more reliability, a stronger network and safety for our pool.
Our target for Phase 1 is 3 Relays distributed across 3 Continents.
This will happen as the node starts producing blocks and we start earning rewards for our delegators.
The Growth Phase
Once we have established STOIC Pool, we are really going to focus on building our delegation with a target of 2Million ADA. This is the goal for bringing us up in the ranks and increasing our chances at maximal block production, meaning more rewards for our delegators.
We think it will take time to hit this kind of threshold at first because a lot of the bigger pools have a head start on us in setting up at the start of the Shelley Era, but we think once we achieve that then it will begin to compound.
We will also be sharing everything we are doing to improve our pool on the YouTube channel. This is key for us to be able to communicate to our delegators and the community in a simple way that we also think will help to establish the pool.
The YouTube channel will start off quite slow I imagine, but just with all things, it will begin to compound over time.
The transparency of our pool is going to be something we want to set us apart, there are currently only a few people who have that direct communication with the community and we feel that we can use that to our advantage.
There are a lot of new developments coming with Cardano this year and it is an exciting time to be joining the community. The more involvement we have in sharing that, the better our pool will do overall.
The Stability Phase
The Stability Phase will really kick in mid 2021, we are hoping to have a strong number of delegates and regularly be producing big rewards for them.
The aim of this pool is to reach a total of 20-60Million ADA which is about the sweet spot according to the statistics that have been done on the pools and their rewards.
This will keep us well below the saturation level for the pool and enable us to produce a good number of blocks each epoch that will in turn mean better rewards for our delegates.
What we want to avoid as Operators is a saturated pool, and so if we find that is starting to happen, we will likely create another pool to spread the delegation across two pools.
This is a long term view of our pool and we don’t want to be focused on running before we walk, but in the interest of transparency, this will be the most effective way to bring our delegates the best rewards in the future.
Hopefully this is a clear explanation of our goals as a stake pool, this may change in the future, we may move faster or slower than expected, but we are committed to letting everyone who delegates to us exactly what we are up to and how we plan to produce the best possible results going forward.
Of course the point of this pool isn’t all about the rewards for our delegates, but just partaking in the network is supporting the decentralization of Cardano.
Our results as pool operators are really focused on the results for the people who choose to delegate to us, and for that we are using our block and rewards metrics as our KPIs and are basing our decisions on that for the moment.
To find out more about our pool strategy and roadmap, check us out on YouTube!