Staking Pool as a Service
Problem
Setting up a staking pool is demanding. Even by doing everything by the book, you still need extensive knowledge and careful management.
Solution
We will offer a staking pool as a service, allowing community members to grow the Cardano ecosystem by running their own staking pool.
Total to date
This is the total amount allocated to Staking Pool as a Service.
About this idea
We will create a fully automated and high availability Staking Pool Service. This requires integration and deployment of the staking pool with various automation tools.
Service types
"Our keys, our pledge"
- Customer submits the staking pool application, after choosing between relay count / locations, margin percentage, pledge amount among other parameters.
- The system automatically creates the pool and makes the initial pledge.
- Customer promotes the staking pool for delegators.
- Our wallet receives the rewards, which we settle with the client.
- Customer has the right to relocate the pool after we remove our pledge.
"Customer keys, customer pledge"
- Customer submits the pool application with keys needed to run the block producer.
- The system automatically creates the staking pool.
- Customer makes his own pledge and has to re-upload the keys every 90 days.
- Customer receives the rewards and pays our bills.
- Customer has the right to relocate the pool any time.
What about wallet private keys?
It is safe for the customers. Our service does not require us to take custody of any customer's keys that allow transfer of funds.
Level of decentralization
We offer multiple geographical locations for the relay nodes. Customers can choose between different locations where we can auto-deploy the relay nodes. With more staking pools deployed, we will add additional relay locations.
Possible clients
"Popular YouTuber"
Has no time nor technical expertise to run a staking pool. Can easily promote the staking pool.
"Cardano fan"
Has no time nor technical expertise to run a staking pool. Has many friends willing to stake.
"Existing SPO (stake pool operator)"
Has the technical expertise, but might need more cost-effective solution or more free time.
"Crypto whale"
Has the funds to stake, can have his own staking pools.
How much does it cost?
We have created a cost-reward calculator. Our fee is 1% of the owner rewards earned + monthly fee for the server co-location cost.
Funding and budget
Funding will pay for the development of the service:
- Kubernetes infrastructure setup across multiple datacenters around the world ($2,500)
- Reservation of public IP address pool ($500)
- Development of Ansible scripts that deploy staking pool to the Kubernetes cluster ($4,000)
- Development of modern UI/UX frontend ($4,000)
- Staking pool order form with a financial calculator ($2,500)
- Automated payment and wallet integration ($1,000)
- Real-time infographic while the pool is being created ($1,000)
- Secure key storage ($1,000)
- Continuous stake pool monitoring integration ($500)
Total $17,000. The actual price of development is significantly higher.
KPIs
- Website is up and running.
- New pool deploys within 5-minute window.
- A calculator can be used to estimate rewards and expenses.
- Order form has been integrated with a wallet.
Definition of Success
Functional service will be launched before 6 months.
Final product
Development is underway. Automation and integration is almost complete. We are working on the frontend design. Current expected public launch date - February 1st, 2022. We will shout out at 'Adaly Wallet' Twitter account.
Team
Our DevOps engineers have 21+ years of experience automating various cloud infrastructure and application deployment flows.
