Further investments and an increase of variable fee

Further investments and an increase of variable fee

16 March 2021 Uncategorised 0

In order to remain a competitive pool operator the variable fee for Zetetic Stake Pool (#1) has remained at 1% for the last 4 months, and though after costs there is some profit, to remain a viable business further investment is required in turn requiring increased income.

It was hoped that, rather than increasing the variable fee, a further investment of 900,000 ADA and introducing more pools would bring in this required income. Unfortunately this strategy hasn’t produced the hoped for results. The additional pools haven’t received significant stake and therefore do not mint blocks at a consistent rate. Returns on the invested ADA pledged to these pools after costs is less than if it were simply delegated.

Reluctantly the variable fee for Zetetic Stake Pool (#1) will be increased from 1% to 2% from the start of the new epoch occurring on 31st March 2021, to coincide with the ‘d’ parameter reaching 0. Variable fees for the remaining pools 2, 3 and 4 will stay as they are at 0% to encourage delegators of pool 1 to move across if they wish to remain with Zetetic but do not wish to pay the variable fee of 2%.

Zetetic Stake Pool has consistently been one of the top performing pools for Cardano but this couldn’t have been achieved without the support of its delegators, so thank you to all of you. With your continued support and loyalty then Zetetic Stake Pool will be a part of this community for years to come.

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