COPI Stake Pool
Cardano is a decentralized Blockchain that offers rewards to delegates and stake pool operators in return for helping to keep the blockchain decentralized.
ADA held on the Cardano network represents a stake in the network, with the size of the stake proportional to the amount of ADA held. The ability to delegate or pledge a stake is fundamental to how Cardano works.
Josh and Rob the Co-CEOs of Cornucopias announced the new COPI Stake Pool on Friday 5th August 2022 on their YouTube podcast COPI Cafe Episode 18.
Within the first 48 hours after launch, the COPI Stake Pool had gained the support of over 250 delegates and over 2.5M ADA had been staked. Thank you all so much for supporting our project.
The COPI Stake Pool rewards delegates with ADA and also receives ADA rewards from Cardano for running the stake pool node. All proceeds from the COPI Stake Pool go towards supporting the development of Cornucopias.
Ticker Name: COPI
Stake Pool Node ID: dda4bc64e339336e3f7bc158177df0c71dc760ff11cb8b0651b3ece4
Live Since: Wednesday 3rd August 2022
Pledge: 200,000 ADA (provided by Cornucopias)
Fixed Cost: 340 ADA
The COPI Stake Pool requires a number of servers to run and is maintained by the Cornucopias Team.
To see a real-time picture of how the COPI Stake Pool is performing in terms of stake, number of delegates and blocks produced, the following sites are very useful:
More information on the parameters mentioned above and what is involved in running a Cardano Stake Pool can be found here.
Snippets from the above link:
The amount of stake delegated to a given stake pool is the primary way the Ouroboros protocol chooses who should add the next block to the blockchain, and receive a monetary reward for doing so.
The more stake that is delegated to a stake pool, the more likely it is to make the next block – and the rewards that it earns are shared between everyone who delegated their stake to that stake pool.
Stake pools are run by a reliable operator: an individual or business, with the knowledge and resources to run the node on a consistent basis. ADA holders can delegate to public stake pools if they wish to participate in the protocol and receive rewards, but do not wish to operate a Cardano network node themselves.
The more stake that is delegated to a stake pool, the greater chance it has of being selected as a slot leader. Each time it is selected and produces a block that is accepted onto the blockchain, it is rewarded, and these rewards are shared between the stake pool operator and stake pool delegators.