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Cardano

Cardano is a third-generation blockchain, created from the ground up using research, peer-review, and a rigorous formal development model. It is designed to build a new decentralized economy and democratize finance in emerging markets. Cardano will allow decentralized applications and contracts to be built and executed in a low-cost, secure and scalable way.

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Return of Stake and Fee

ROS: ~5%
Fee: 1% (+340 ADA fixed fee to cover operational costs)

Cardano Stake Pool

BAKE1


LetzBake! donates 10% of the income generated by our stake pool to an international health NGO. Check the FAQs for more information!

Cardano FAQs

Currently there are three options available:
  • The easiest option is to delegate your Ada to our BAKE1 stake pool by using either the Daedalus or Yoroi wallets.

  • We also offer the opportunity to become a pledge contributor, which means that you can contribute your Ada to our stake pool to increase its pledge and receive higher staking rewards in return. However, this option is only appropriate for people who intend to hold their stake over a longer period of time and are not interested in day- or swing trading. It currently also requires some familiarity with a Linux command line client, as you will need to sign the pool certificate with the private key of your staking wallet, which is not possible with any of the available wallets as of today. Note that it is not required to share your private key with us, only a signature, so you will not lose control over your stake. Be very suspicious if anyone claims that you need to share your private key or transfer your Ada to a wallet not controlled by you in order to contribute to the pledge of a pool!

  • For large holders who do not want to run an own stake pool, we also offer to run a node or several nodes on your behalf, thereby profiting from our highly secure and reliable infrastructure without losing control of your stake. Also here some familiarity with a Linux command line client is currently required.
Feel free to contact us for more information on these options or if you need support to delegate to our BAKE1 stake pool!
Below is the information from IOHK when you can expect your first staking rewards, assuming you are delegating to our BAKE1 stake pool in Shelley epoch 0:
  • You will be able to delegate to our pool during epoch 0 (July 29 - Aug 3). Please note that ITN rewards will not be available for delegation during epoch 0
  • The first stake distribution snapshot will be taken on Aug 3 (at the transition to epoch 1)
  • Blocks will be produced by pools during epoch 2 (Aug 8 - 13)
  • The rewards will be calculated during epoch 3 (Aug 14 - 18)
  • Rewards will be distributed at the end of epoch 3 (Aug 18)
This means that you will receive your first rewards after four epochs and about 20 days.
We pledged to donate 10% of the income generated by our BAKE1 stake pool to FAIRMED, an international health NGO that provides access to health care for poor and marginalized populations in Africa and Asia.

With our founder, Dr. Marc Bonenberger, being a program manager at FAIRMED and responsible for all of the organization’s projects in Nepal and Sri Lanka, we are not only donating these funds, but are also in an ideal position to significantly contribute to the project’s design in which the donation is going to be used. Several approaches are currently evaluated, and we will share the outcome publicly once the ideal solution is decided upon.

Note that you'll automatically receive all your due delegation rewards and that the 10% will only be subtracted from our own stake pool rewards, as stake pool operators, besides the variable and fixed fees, do not have any influence over delegator rewards. However, by delegating to our BAKE1 stake pool you are supporting our cause and contribute to the well-being of poor and marginalized populations.

If you want to get more information on how blockchains can help international NGOs and how the technology can contribute to financial prosperity for poor and marginalized populations, check out Marc's presentation, which he gave at the Celo Prosper Series in June 2020.
Yes, the ITN phase ended after epoch 190 in June 2020. Although the network is still operating, rewards are switched off. We continue running our nodes on the ITN until the future of this network is clear.
The 0% fee we had on the ITN allowed us to professionalize running a staking pool on Cardano, as such a “fee”, of course, attracts many delegators. In this sense, it was a win-win-relationship for both our delegators and us, as delegators benefited from zero fees and we benefited from having many blocks and were thus in a good position to calibrate our servers to be as efficient and secure as possible at Shelley mainnet launch.

However, as running a professional staking pool entails significant costs, it is economically infeasible to continue running completely free on the Shelley mainnet.