We minted our 50th block in Epoch 275! Thank you to our delegators for helping Huatpool achieve yet another milestone! Your continued belief and trust in us is key to why we continue to do what we do. Huatpool is grateful to be a small part of the Cardano ecosystem.
With smart contracts launching in 2 months, it is a very exciting time for #Cardano and community. We at Huatpool are firmly committed with Cardano’s vision and will continue to provide a fair, safe and robust staking platform for all interested ADA holders to earn rewards together.
There have also been some recent discussions on the eco friendliness of cryptocurrencies in general. Our well-versed readers would be aware that BTC requires a ton of wasted energy to produce a block, while Cardano can reduce this energy wastage through our POS protocol. This has led Huatpool to consider environmental footprint in a better future world.
We had also noticed an issue with smaller SPOs. As shared in this tweet thread, there are many new SPOs who are setup by knowledgeable and enthusiastic owners, but are unable to co-exist effectively alongside larger centralized exchanges and pools. These SPOs, even will 0% margin, does not attract sufficient active live stake to mint blocks. Without blocks, they would not be attractive to delegators who are looking to stake for passive income. In a broader term, this would affect Cardano’s vision of decentralization
Initiative One - Plant-A-Tree/Coral
Nature is close to our hearts at Huatpool. While Cardano uses little energy to power its network and we firmly believe the infrastructure will improve the human environment once its fully deployed, what is a better world for us if there continues to be enviromental devastation? Studies on climate change has scientifically proven that the rate of global warming is accelerating.
Inspired by this one man in Indonesia who replanted an entire forest by himself, Huatpool believes we can start a win-win cycle of positive environment change for us and our delegators.
Based on a six-tier average active stake amount every quarter of the year (about 18-20 Epochs and capped at the upcoming maximum pool saturation amount of $30m), Huatpool will donate a one-time figure at the end of every quarter to plant the corresponding trees and corals. The donation will be official and carried out through Singapore’s reputable Garden City Fund, which is established and overseen by our National Parks Board.
As of time of writing, we are currently at $4.24m live stake and we have until Epoch 293 to reach our $5m target and to plant our first tree. We are not yet sure if we are allowed to leave a note during the planting but if possible, the planting will be dedicated to Cardano and our delegators. Progress updates (and photos) will be shared across our social platforms.
We hope any new/current delegators can help us on this journey towards a better natural world!
[Edit] – Infographic updated for better clarity.
Initiative Two - Helping small SPOs
Huatpool believes in a #decentralized & strong #CardanoCommunity. However, there seems to be a classic chicken & egg issue for smaller SPOs as briefly mentioned above. This has led to many smaller pools retiring before they are able to contribute effectively to the community.
Inspired by others within the community, Huatpool will zoom in on a deserving SPO who could use some help to grow, before the end of every Epoch. While “deserving” can be subjective, we will take a look at factors such as blocks minted, active stake, margins, number of delegators and whether SPO is contributing to the betterment of Cardano.
We thought of highlighting multiple SPOs at one time, but we believe that delving a little more into the details will hopefully raise better awareness and be more beneficial for each individual SPO. It may not be much, but we hope every bit helps.
A call to SPOs, if you are keen to be part of this, do email / contact us via Twitter/ Telegram. There are no hidden costs/ fees to be considered. A stronger, more diversified ecosystem is better for us all.
Future highlights will be on Home page