META's FIRST Mainnet Block!
I don't know about you... but man, oh man was it so exciting to do a leaderlog query to find that we were LUCKY enough to get a block "so soon"! But it was also so nerve-racking waiting for that moment, staring at screens wondering if it it was 'all gonna work!'
I wanna thank all the awesome Cardano Community members that have documented lots of guides to creating a pool, created super helpful tools, scripts, and github repos, and also generated many useful videos that go into explaining all this wonderful SPO stuff. Truly remarkable!
Lucky Small Pools like META
Being able to 'get-picked' for a slot is a random probabilistic process that really hinges on how much ADA is delegated to a given Cardano stakepool. At the moment we're hovering around 270k ADA delegation, which when compared to the full 63.6M saturation, we're at a very small 0.4% saturation level! I was reading about other pools that STRUGGLED with months of not receiving a block and imagined that META would just fall into that category for awhile. We are a 'kiddie-pool' sized pool!
So, like I said it was such a neat surprise to mint our first block within a few weeks of going LIVE! Maybe it's expected, but I'm the high intentions, low expectation type of person, so I shall call it LUCK!
So now that we know that it all DOES work and META is able to rise to the occasion when elected as slot leader, what will we do to attract more delegators? I'm still in the planning phases, but we have announced 50% Fixed Fee Lottery, which was announced just 5 days ago! Please read that article to understand the rules.
So, YES! Starting Epoch 273 (which is now) and after a delegator has at least stayed around for 5 epochs, each delegator will have their chance to win half of the 340 ₳ fee! Yes, YOU CAN WIN 170 ₳! So, right now only a handful of delegators right meow 😸, can win half of META's fixed-fee at the start of Epoch 278!
Why is META doing this?
I wanted to off-set some of the negative connotation small pools have: of not having a reward 'all the time' because if a pool doesn't mint 1 block in that 5-day window (aka the epoch), there are no rewards. So to "make-up" for that, I wanted to add an additional gamification to it, while we are still a 'kiddie-pool'!
Also, I really want to create a great Cardano Community, with lots of excitement and camaraderie in our discord--please join-in! My focus is to really help new users understand this whole 'blockchain thing' but specifically for Cardano. Once I get more things situated personally, I will have a studio set-up to do a YouTube Channel 🤩.
Anyway, huzzah! And thanks for everyone's delegation, support, or even just likes and retweets in the twitter space! I'm just so stoked we minted our first block!