(Bonus Program Temporarily Suspended)
Welcome, delegators and newcomers!
At Cardano Swift Pool, we’re excited to introduce our bonus program that ensures you receive stable rewards even if our pool temporarily doesn’t produce any blocks.
How does it work?
If our pool doesn’t produce any blocks in the current epoch, we will treat it as if it has virtually produced one block. In this case, we’ll allocate a bonus from our own funds, which will be distributed to active delegators exactly one epoch later. For example, if no blocks were found in epoch 513, the bonus will be distributed in epoch 515.
The amount of ADA included in the “virtual block” will be based on the average amount of ADA from the last five blocks produced by our pool. The amount of ADA distributed to active delegators will be equal to the block reward minus the operator’s fee, according to the protocol.
Key Conditions:
- Active Delegators Only: Bonuses will only be paid to delegators who remain active at the time of distribution. If you plan to leave the pool, please wait until the bonus is distributed before doing so.
- Bonuses will be paid one epoch later: If the pool does not produce a block in the current epoch, the bonuses for that epoch will be distributed not in the next epoch, but the one after it.
- Bonus Distribution Over the Course of the Epoch: Since bonus payouts are processed manually, they may be distributed gradually throughout the entire epoch in which bonuses are being accrued.
- Program Start: The bonus program takes effect starting with epoch 513. If no blocks are produced in that epoch, the first bonus will be distributed in epoch 515.
- Transaction Fees: When distributing bonuses, the transaction fee will be deducted from the reward amount. As a result, the final bonus amount may vary slightly for each delegator depending on the size of the transaction fee for their specific payout.
- Bonuses will only be paid to delegators whose reward amount, after deducting the transaction fee, is at least 1 ADA. If the final bonus amount is less than 1 ADA, the bonus will not be paid, as the minimum transaction amount on the Cardano network is 1 ADA.
Why are we offering bonuses?
- Retention and Support for Delegators: We want to build long-term trust with our delegators. Even if no blocks are produced in a given epoch, you will still receive rewards.
- Attracting New Delegators: Our bonus program ensures that your rewards are more predictable, even if the pool doesn’t produce blocks as frequently as larger pools.
- Growing the Pool: As more delegators join, our pool will produce blocks more frequently, and the need for bonuses will naturally phase out over time.
Transparency and Reporting
We will publish general information about the total amount of ADA distributed as bonuses to all delegators. Specific transactions can be viewed in the blockchain via Cardano Explorer.
How long will the bonus program last?
The bonus program will run as long as it remains financially sustainable. As more ADA is delegated to the pool, we expect to find blocks more frequently, reducing the need for bonuses.