Cardano’s staking pools allow people to delegate their stake to a manager, who collects stake from multiple individuals then decides which validators to delegate to. While it is easy for users to stake directly with a single validator if they wish to spread their stake around multiple validators to improve decentralization, it can get considerably harder to manage multiple stakes across tens or hundreds of validators. In reality, the majority choose the simplest option and as a result, the majority of stake in the Cardano network has become concentrated among a small group of validators.

Stake pools aim to fight this by deliberately spreading the stake they control across tens or even hundreds of smaller validators. This has two significant benefits for the users: reducing the impact of downtime at their chosen validator and so protecting their returns, and increasing the security and sustainability of their investment in ADA by helping secure the network. In exchange, they may take a small percentage fee for managing user stake, and some also take a small fee on deposits or withdrawals.

This document is all about the public monitoring and analytics project for Cardano stake pools. This visibility will be key in supporting the successful launch of stake pools and providing meaningful data to token holders considering delegating their stake to one or more pools.

Goals

● Provide access to real-time data on Cardano a stake pools on testnet and mainnet

● At the completion of the project, provide an open-source reference implementation for how to access and visualize stake pool information.

Project Scope –

● A website that provides a variety of metrics which are indicative of stake pool performance. For instance:

○ Pool Name

○ Ticker

○ Possible metrics

■ Historical Pool fee

● Historical Pool manager fee

● Historical Average validator fee

■ Average Historical Interest/return

■ Number of Nodes

■ List of Nodes

■ Average Pool Skipped Slots

■ Average Pool Uptime

■ Average Pool Delinquent

■ Average Pool node stake

■ Average Pool node lifetime

● The site should explain and provide context on why each metric is important to understanding stake pool performance

● A published reference implementation that would allow other members of the community to access and visualize similar data.

● The site is ideally built with WebSockets and can push state changes to the front-end for real-time monitoring.

● We commit to maintaining the website for at least one year.

Requirements of the Application –

Functional Requirements

Customer Functions

1. Registration

2. Adding account

3. Adding a wallet

4. Verify Email and password

5. Verify account details

Administrative Functions

1. Manage deposits and withdrawal details

2. Update trading details

3. Showing realtime analytics

4. Showing monitoring for users

5. Manage stake pools

6. Manage users

Non-Functional Requirements

Safety requirements

When there is extensive damage to the database due to failure, disk crash, the recovery method restores a copy of the backup database to archival storage and reconstructs the failure.

Security Requirements

Account security authentication is given two-factor authentication at account creation to both admin and customers.

Performance Requirements

Normalization and ER

Software Quality

Usability and Availability, Maintainability

We will increase the number of ADA holders and wallets in Sri Lanka.

We will give existing ADA holders an opportunity to stake within a local stake pool

We will create a use case for solar powered stake pools in Sri Lanka and elsewhere

We will give ADA holders who stake with us opportunities to give back to local charities and social and charitable projects.

We will increase awareness of ADA and Cardano blockchain

We will increase awareness of Catalyst and its funding opportunities

Metrics could be

Number of segments identified who would want to join the stakepool

Number of marketing campaigns for these segments initiated

How many new prospects from these campaigns

For each of the campaigns

The metrics are

Number of wallets and ADA holders from the repective Channel whether Youtube, FB, Instagram, Linkedin

Number of ADA in each wallet

Month on Month increase of ADA

How existing ADA holders are promoting to new ADA holders

Number of new prospects who become influencers and bring more people into the Stakepook

Amount of time for each influencer to learn and then start reaching others how to become members of the pool

Amount of native tokens earned by each influencer for bringing new people into the pool

Ability to reach local ADA holders

Ability to market to new prospects who know nothing about Cryptocurrency, Cardano Blockchain or Catalyst

Resistance from vested interests who want to block Cryptocurrency, Blockchains and Cardano in Sri Lanka. This could be promoters of fiat currency such as banks and other financial institutions, politicians, and promoters of other blockchains.

Month 1

Requirement Gathering and Planning

Designing and Development of the site and setup of the Stakepool Hardware

Construction of structure to support Solar panel system

Setup of solar system

Month 2

Testing and Review of Stakepool system

Commencement of social media marketing campaign to various target audiences

Communicating with prospects and converting to ADA holders. Enabling them to easily setup wallets

Month 3

Continuation of social media marketing to onboard ADA holders to pool and Catalyst

Enable first round influencers to become promoters and evangelists. Incentivize with the native token for people to bring others into the stakepool.

Stakepool Hardware including Computers, UPS, 10,000 USD

Telecom connectivity for stakepool for one year 5000 USD

Structure for Solar power system 5000

Solar power system including panels, invertors etc 30000' USD

Deep Cycle Batteries 10,000 USD

Setup and Maintenance costs for one year 10,000 USD

Social Media Campaign 20,000 USD

TOTAL 90,000 USD

Dimitri Fernando <https://www.linkedin.com/in/dimitrifernando777/?originalSubdomain=lk>

Active member of Catalyst Community - General ADA holder in Catalyst Circle V3, Community Advisor in Fund 6 and 7, Veteran Community Advisor in Fund 7, VCA in Flash Assessment in Fund 7, Cardano4Climate, Cardano Creatives, Founder of South Asian Town Hall, Active in Eastern Town Hall, Pacific Town Hall, European Town hall, Catalyst Swarm, Gimbalabs Playground

Serial Entrepreneur, INFJ, Marketer by profession, Creative by passion, Strategist, Writer, Poet, Storyteller Has background in multiple sectors and has run several companies with groundbreaking technologies in Sri Lanka.

+ 1992-1995 Voiced and Produced multiple programmes at Sri Lanka Broadcasting Corporation in numerous Services including Simultaneous translation on a Trilingual Stereo broadcast every day called City FM.

+ 1995 to present - Over 27 years running a translation agency handling translations in over 100 languages with native speaking Master Translators all over the world.

Muttiah Duraiswamy <https://lk.linkedin.com/in/muthiah-duraisamy-22498ab8>

Muthiah Duraiswamy has over 30 years of experience handling translations in the Ministry of Languages. He is an Official Languages translator having obtained his certification. He has also been a contributor to the Mahawamsa the 4000 year old historical Chronicle of Sri Lanka which is updated every year.

Ruan Vukich Tech Lead

Uditha Bandara <https://www.linkedin.com/in/udithabandara/>

Uditha Bandara (MVP) is an expert in specializes in Microsoft , AI and Blockchain Technologies . He is an author in AI technologies, an international speaker and the founder/CEO of Blue Chip Asia and South East Asia`s First XNA/DirectX MVP (Most Valuable Professional)

Rishantha Welikadage <https://www.linkedin.com/mwlite/in/daforce>

RIshantha has been involved in multiple business sectors including State Government in Minnesota USA as a Hardware Technician and Entrepreneur. He has also worked in software development in the logistics industry. Being involved from the inception of a freight logistics company he grew it from 2 employees to over 30 and developed a proprietary system which was better than ready built systems available for a UK logistics and courier company.

He has obtained his MBA in Business Management from Australia and has also been involved in many Social Service organizations such as the Lions Club.

Chamarie Ranasinghe <https://web.facebook.com/designerchamari>

Chamari Ranasinghe has been involved in multiple entrepreneurial businesses for the last 25 years. She is highly experienced in managing complex projects and has a skill of connecting with all strata of society and can motivate any group of people. She has a down to earth quality about her that serves her well in her social service work which also brings her closer to her passion of helping people. She is also a qualified Ayurvedic Physician.

The number of people required to complete this task has been calculated.

Metrics could be

Number of segments identified who would want to join the stakepool Can be tracked based on resuts of discussions to evaluate market segments.

Number of marketing campaigns for these segments initiated. Details of these marketing campaigns will be provided

How many new prospects from these campaigns - Can be tracked

For each of the campaigns

The metrics are

Number of wallets and ADA holders from the repective Channel whether Youtube, FB, Instagram, Linkedin

Number of ADA in each wallet

Month on Month increase of ADA

How existing ADA holders are promoting to new ADA holders - Can be tracked

Number of new prospects who become influencers and bring more people into the Stakepool - Can be tracked

Amount of time for each influencer to learn and then start reaching others how to become members of the pool - Can be tracked

Amount of native tokens earned by each influencer for bringing new people into the pool - Can be tracked

What does success for this project look like?

Reaching all the above mentioned segments

Getting a large number ( what is large has not been decided) of prospects from each of the segments

From this number getting all or most to become influencers

Teaching these influencers how to reach other prospects

Creating action and support teams where influencers can support each other and share knowledge and best practices to join the pool

Providing support for influencers as they navigate the process of influencing and reaching others to join the pool

Creating an effective native token which has value for all concerned

Creating a dynamic fast growing culture where all work and be incentivized for their onboarding work

This is a new proposal