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FAQ & Help from GAIA

Check out our frequently asked questions below for some easy answers on Cardano, ADA, and Staking:

What is Cardano?

 

Cardano is a third generation decentralized public blockchain and cryptocurrency project.

Cardano is fully open source, and the first blockchain

to be built through peer-reviewedresearch. You can learn more about Cardano here: www.cardano.org

What is Stake Pool Delegating?

 

Delegation is the process by which ADA 

holders delegate the stake associated with their

ADA to a stake pool. It allows ADA holders that

do not have the skills or desire to run a node to participate in the network and be rewarded 

in proportion to the amount of stake delegated.

Do I need to send my ADA to Stake?

No. Staking should always be done from your own

wallet, and your ADA should never leave your wallet to stake. You should never have to send your ADA to another wallet to stake. Be careful of sites asking you to send your funds or key phrase, as these actions could put your funds at risk.

What is ADA?

ADA is a cryptocurrency, and the native token of Cardano. 

Any user, located anywhere in the world, can use ADA as a

secure exchange of value - without requiring third party

to mediate the exchange. Every transaction is permanently,

securely, and transparently recorded on the Cardano

Blockchain. ADA stored in a wallet can be delegated to a

stake pool to earn rewards. In time, ADA will also be useable

for a variety of applications and services on the Cardano

platform.

How do I Delegate my ADA?

Both Daedalus and Yoroi wallets

support delegation within Shelley. To delegate

your ADA, you will need to hold your ADA in one

of these two wallets.

Daedalus is a full-node wallet developed by IOHK,

and Yoroi is a browser-based wallet developed

by EMURGO. You can download your preferred wallet

client here: 

Daedalus - https://daedaluswallet.io/

Yoroi - https://yoroi-wallet.com/#/

Once your preferred wallet client has been funded,

search for the GAIA Stake Pool

ticker: GAIA 

or by our ID:

f66a36de855d53b9d5110bd46640f48dbab1c848c9e2f5c36d8c12dc

and delegate to GAIA Stake Pool to start earning rewards!

Do I risk losing my ADA from Staking?

No. Your ADA never leaves your wallet to stake, your

staked ADA is not subject to fees once staked, and your

staked ADA will not be lost if your stake pool fails to

produce a block

When will I get my rewards?

After delegating your ADA to a stake pool, it takes 2

Epochs (minimum of 6 days) for your ADA to become

actively staked. After your ADA is actively staked, every 5

days you will receive your rewards from delegating to

your chosen stake pool.

Will the ADA rewards I earn be added to my Delegated Stake?

Yes, rewards earned accrue with your original stake.

When rewards are received, the balance of your reward

account increases – and, consequently, the delegated

stake is increased.

What is Cost Per Epoch?

Stake pool operators are required by the Cardano

protocol to charge a fee per epoch, at a minimum of 340

ADA per epoch. To provide the highest rewards possible

to our delegators, GAIA Stake Pool has chosen to go with

the lowest fee possible.

What is a Pool Fee?

Also known as pool margin, stake pools take a percentage

of your rewards every epoch. This allows for stake pools

to cover operating costs and to provide reliable servers for

stake pool operation.  This also gives stake pools the

ability to scale their business with the Cardano network as

further features are built on top of it.

Can I switch Stake Pools?

Yes. Delegated stake can be re-delegated to another pool

at any time. Re-delegated stake will remain in the current

pool until the epoch after next (from the point of re-

delegation), after which your delegation preferences will

be updated on the chain and your stake moved to the new

stake pool. Rewards are distributed from the end of each

epoch, so you’ll continue to receive rewards from your

original stake pool for two epochs before your new

delegation preferences are applied.

Can I spend or transfer my ADA while Staking?

Yes, you can spend or transfer as much ADA as you

would like from a delegated wallet. The transfer of funds

from your wallet happens instantly, and any remaining

funds will continue to be staked and will continue to

earn rewards.

Is there a minimum amount of ADA required to Stake?

No, there is no minimum delegation amount. There is

currently a small transaction fee of approximately 0.174

ADA and a 2 ADA deposit per delegation (the deposit is

returned when you un-delegate your ADA).  There are no

hold times, so you can un-stake your ADA and use your

funds any time you wish.

What is an Epoch? 

Transaction blocks are processed on the Cardano

network by dividing chains into epochs, which are further

divided into time slots. A slot leader is elected for each

time slot and is responsible for adding a block to the

chain.  On average, one node is expected to be nominated

every 20 seconds, for a total of 21,600 nominations per

epoch. There are approximately 5 days in each epoch.

Where can I buy or sell ADA?

You can buy or sell ADA for fiat or other cryptocurrencies

using cryptocurrency exchanges. GAIA Stake Pool

recommends Bittrex.com or Binance.com: 

https://global.bittrex.com/

https://www.binance.com/en

You can see a list of exchanges that support ADA here:

https://coinmarketcap.com/

Can I Delegate to more than one Stake Pool?

Currently there is not a wallet option to split your ADA

delegation between multiple pools. This means all the

ADA you hold in one wallet will be delegated to your

chosen stake pool. To delegate to multiple pools  you will

need to create separate wallets. The stake associated with

each wallet can then be delegated to a specific stake pool.

A one to many staking option is currently in development,

so that you will be able to stake to multiple pools from a

single wallet.

Further Resources

The links below offer excellent information on Cardano for further knowlege.
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IOHK

The blockchain engineering company that created Cardano. IOHK is run by CEO Charles Hoskinson, the founder of Cardano.

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EMURGO

A multinational blockchain technology company that provides solutions for developers, startups, enterprises, and governments

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CARDANO FOUNDATION

An independent standards body that oversees the advancement of Cardano, with a core focus to accelerate the adoption of Cardano.

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DAEDALUS WALLET

Daedalus is a full node, open source wallet that is built to grow with the Cardano blockchain. Daedalus is developed by IOHK. 

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YOROI WALLET

Yoroi is a light wallet for Cardano. It’s simple, fast and secure. Yoroi is an Emurgo product, engineered by IOHK.

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CARDANO

Cardano is a blockchain platform for changemakers, innovators, and visionaries. It has the technologies required to bring about positive global change. 

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