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.
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.
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 while maintaining our operating costs, GAIA Stake Pool has chosen to go with the lowest fixed fee possible of 340 ADA per epoch.
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 a 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?
Daedalus and Yoroi are the wallets built by Cardano companies, but there are also some great 3rd party wallets that exist like Eternl/CCvault and Nami.
To delegate your ADA, you will need to hold your
ADA in one of these wallets.
Daedalus is a full-node wallet developed by IOHK,
and Yoroi is a browser-based wallet developed
by EMURGO. Eternl/CCvault and Nami are 3rd party browser-based wallets. You can download your
preferred wallet client here:
Eternl/CCVault: https://ccvault.io/
Nami: https://namiwallet.io/
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!
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 Coinsmart.com if buying in Canada.
Binance.com, Bittrex.com, and Coinbase.com are also reputable exchanges to buy ADA from.
Here are some referral links:
You can see a list of exchanges that support ADA here:
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.
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.
Is there a minimum amount of ADA required to Stake?
Yes, the minimum delegation amount is 10 ADA. 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.
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.
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.
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.
Can I Delegate to more than one Stake Pool?
Yes, you can delegate from one wallet to many pools with Eternl/CCVault!
With other wallets this is not the case, and 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.
IOHK
The blockchain engineering company that created Cardano. IOHK is run by CEO Charles Hoskinson, the founder of Cardano.
EMURGO
A multinational blockchain technology company that provides solutions for developers, startups, enterprises, and governments
CARDANO FOUNDATION
An independent standards body that oversees the advancement of Cardano, with a core focus to accelerate the adoption of Cardano.
DAEDALUS WALLET
Daedalus is a full node, open source wallet that is built to grow with the Cardano blockchain. Daedalus is developed by IOHK.
YOROI WALLET
Yoroi is a light wallet for Cardano. It’s simple, fast and secure. Yoroi is an Emurgo product, engineered by IOHK.
CARDANO
Cardano is a blockchain platform for changemakers, innovators, and visionaries. It has the technologies required to bring about positive global change.