A great new Cardano stake pool to delegate your ADA to.
- Total Live Stake
- Total Delegators
- Epoch Blocks
- Lifetime Blocks
We're just getting started but you can track our progress on ADApool.org
😍 What is Cardano and Ada?
Cardano is a proof-of-stake blockchain platform for changemakers, innovators, and visionaries, with the tools and technologies required to create possibility for the many, as well as the few, and bring about positive global change. There's no better way of getting to know about Cardano than having a read on the Cardano.org website.
Ada (₳) is a digital currency. Any user, located anywhere in the world, can use ada as a secure exchange of value – without requiring a third party to mediate the exchange. Every transaction is permanently, securely, and transparently recorded on the Cardano blockchain.
Every ada holder also holds a stake in the Cardano network. Ada stored in a wallet can be delegated to a stake pool to earn rewards – to participate in the successful running of the network – or pledged to a stake pool to increase the pool's likelihood of receiving rewards. In time, ada will also be usable for a variety of applications and services on the Cardano platform.
🤗 Who are we?
"We" is actually just "me". My name is Adam. I've been involved in technology since the mid-90s and currently run the technology department at Wefarm where we focus on building a secure digital platform to help 100 million small-scale farmers across the planet reach their full economic potential. You can find out more about me and what I do on my website here.
You can probably tell that I'm not much of a marketeer. This is a passion project because after two decades of building and running online services I have built the skills, technical know-how to run a stake pool and to be perfectly honest, I want to support the Cardano network because I believe it's the best thing since sliced bread!
If you want to get in touch for any reason, you can reach me at the links at the bottom of this page
💸 What's the cost?
The short answer is nothing... zilch... nada... You delegate your ADA for free (aside from a tiny transaction cost to register your delegation on the blockchain (usually around 0.18 ₳ which at current rates is around £0.016 sterling)
Each epoch a rewards pool is created. All the fees from all the transactions within that epoch are added to a pot. At the end of an epoch this pot is divided up between all the stake pools that were slot leaders for that epoch and divided proportionally by the stake the pools had live. This reward is then divided up by the stake pool and awarded proportionally to the delegators (minus any stake pool fees)
Magical Money has ??% margin* and a set ?? fixed cost
* Our stake pool has only been running a week so I'm looking to understand the running costs a little better. After this 💩 year ends, I'll be reviewing the margins.
🔒 How secure will my ADA be with this stake pool?
The process of staking with Magical Money (or any other stake pool for that matter!) means your funds will never leave your wallet. Staking your ADA to a stake pool is a process that is wrapped in a transaction which is written to the Cardano blockchain. It's essentially you saying through the signing of the transaction that you want to affilate your wallet with the stake pool.
- Staking ADA is at zero-risk to you
- You can unstake or redelegate ADA at any time
- Staking rewards are paid in ADA into your staking wallet
It goes without saying (but I'll say it anyway) the responsibility for the security of your wallet is yours. Please do follow some best practices and make sure to never ever ever share your private keys, mnemonic or any other sensitive details with anyone else. There are a lot of bad actors out there and I'm not just talking about Tom Cruise.
🔎 How do I delegate to Magical Money?
There's many Cardano wallets and exchanges that you can store your ADA but currently a limited number that support staking. Daedalus Wallet is probably one of the most popular but Adalite Wallet not only supports staking but also hardware wallets to give an extra protection to your funds.
Whichever wallet you ultimately choose, go to the delegation centre and search for our ticker:
⭐️ Magical Money Servers ⭐️
The Magical Money infrastructure is running on AWS which is the defacto leading cloud services provider. Our relays run from separate availability zones so if an aeroplane decides to fall on one of the data centres, the other will be untouched.
Stake Pool Status
|Relay 1 Node|
|Relay 2 Node|
I'll be writing more over the coming weeks around the network topology and what Magical Money is running on. Watch this space...