Frequently Asked Questions
Here is a brief description giving the differences between the two wallets:
Daedalus wallet is a desktop-based wallet for ada cryptocurrency, bundled with full Cardano node. It stores the entire history of Cardano blockchain and validates all blocks and transactions for fully trustless and autonomous operation. Daedalus wallet runs on Windows, Mac, and Linux operating systems. Daedalus wallet takes some time to download and the blockchain takes some time to sync (create a local copy of the blockchain). It occupies about 6 GB of space on your machine as of August 2019.
Yoroi is a lite wallet for ada cryptocurrency, running as a Chrome or Firefox extension. It connects to a full Cardano node hosted by a third party (Emurgo). Yoroi allows for instant initial setup, quick and easy operation with minimum usage of system resources. Runs on Windows, Mac, and Linux, as well as iOS and Android.
Once you have downloaded and set up your wallet:
Delegating in Yoroi: Click “DELEGATION (SIMPLE)” on the top right side of the wallet. Here you can search for a specific pool. To select our pool, search for “Cardano Staking Club”, ticker “CCLUB”. Select it and click “DELEGATE.” ON the next screen it will have to conform your selection. Once you do, you should get a “SUCCESSFULLY DELEGATED” message. And you’re done!
Delegating in Daedalus: Click the “Create a New Rewards Wallet” button at the top right of the wallet. Then on the next screen click “Create”. Follow the prompts to set a name and password for this wallet and to write down and confirm your recovery phrases. Next select “Balance wallet” and click “Move ADA”. Confirm the Balance wallet and Rewards wallet is correct. Click ‘Continue’. Enter the password of Balance wallet. Click ‘Transfer funds’. Next, to delegate your ADA, click the second icon from the top in the main navigation to access delegate features. Click ‘Delegate your stake’. Then click ‘Continue’. Choose a wallet with funds that you want to delegate. Then select a stake pool. To select our pool, search for “Cardano Staking Club”, ticker “CCLUB”. Then click “Continue”. Enter the password of Rewards wallet. Click ‘Confirm’. And you’re done!
Our fees are on the lower end of staking pools. For every block we create on the blockchain, we charge only a 4% fee. The remaining 96% of the rewards are passed on to our stake pool members.
Staking is COMPLETELY SAFE. While staking, your ADA remains inside of YOUR WALLET and COMPLETELY UNDER YOUR CONTROL. You can stop staking at any time or stake to a different pool whenever you wish. Staking is kinda like holding up a sign saying “I lend my support to that team!” (i.e. the staking pool) As a result of your support, you get rewarded. Simple as that.
Yes. The rewards you earn accrue with your original stake. When rewards are received, the balance of your reward account increases – and, consequently, the delegated stake is increased!
The performance metric is an indicator of how well a stake pool is performing. It is given as a percentage, and is measured by how many blocks the stake pool has produced compared to how many it was expected to produce. For example, if a pool only produces half the number of blocks that it was nominated for, its performance rating is 50%. This could happen because the pool has a poor network connection, or has been turned off by its operator.
Performance ratings make more sense over a longer period of time. If a pool has not yet been selected to produce a block in the current epoch, its performance rating will be 0%, even if it is likely to produce blocks later in the epoch. Performance ratings of over 100% are possible if a pool creates more blocks than it was nominated to produce.
In Daedalus and Yoroi, performance contributes to a stake pool’s ranking.
Our virtual private server (VPS) is located in a data center in Washington, DC. It’s fast and secure and optimized to mint blocks efficiently!
If you’d like to delegate to our pool once the Cardano Mainnet is live, please sign up for our email list and we’ll notify you just as soon as our pool is ready for staking.