Cardano ADA News Update, 4th September 2024

[@DM-do5gt]

Thank you for everything!

[@LearnCardano]

You are so welcome!

[@davep3014]

What a wild ride it's been

[@LearnCardano]

Just starting

[@emma_watson-y4b]

Can you please provide the link ,where I can read more about chang. Thank you

[@LearnCardano]

Here is an article from Emurgo that goes through Chang 1 and 2 and what it brings and what it all means. www.emurgo.io/press-news/what-to-know-about-the-chang-hard-fork-cardano/ I hope that helps

[@dennislynn2796]

Thanks!

[@LearnCardano]

Thank you for the super thanks!!! 🙏 really appreciate it.

[@quattrocity9620]

41 hour flight?! They must be taking the scenic route...😅

[@LearnCardano]

It is Sydney to Dallas to Buenos Aries x.com/astroboysoup/status/1831700068631769524

[@111dcormack]

k=2000 500 pools is WAY too small globally.

[@LearnCardano]

Incremental change is need. Step by step. Changing from 500 to 2000 will cause chaos with all existing delegations to stake pools as the max threshold of delegation will drop to a 1/4 of what it is now ~18M ADA per pool. Sticky delegators will lose rewards. Average profit for a pool at that level is $195 USD per epoch with a 340 ADA fee and 3% margin. $1171 per month. Income tax on that would vary from person to person but where I am it is about 32% therefore $689 after tax. I personally run 4 nodes for my pool at an operational cost of $671 per month. These numbers would vary from operator to operator and with how their tax and company structures as setup, but you can see that at the average price of ADA, bumping to 2000 will kill off a lot of single stake pool operators or force them to open more pools using the same infrastructure to remain profitable.

[@jakekiddall5108]

Vhi, how do i register to vote? My ada is on an exchange, must it be in a wallet to register.

[@LearnCardano]

Yes. You need to move to a Cardano wallet. Only Eternl supports governance actions at this time but simple wallets will follow the next few days.

[@jakekiddall5108]

@@LearnCardano thank you, much appreciated!!

[@RAm-oe2qw]

Hello, does anybody know, what the next Cardano era will be after Chang? Will it be Chang 2 or something else?

[@LearnCardano]

At the moment its called Chang 2. Sometime after Nov 30th in December.

[@RAm-oe2qw]

@@LearnCardano Thank you very much 👍

[@greger589]

👍

[@johndussin5004]

DCA ADA !

[@LearnCardano]

all day John

[@ryanwdavies1]

If I have 1 m ADA do I have more vovoting power?

[@ryanwdavies1]

Or is it 1 Ada, 1 vote?

[@LearnCardano]

Voting power is determined by the amount of ADA you have. If you have 1M Ada you’re pretty powerful in the voting space.

[@ryanwdavies1]

1m as an example

[@ryanwdavies1]

@@LearnCardano thanks Pete, so it's weighted voting got it:)

[@benali6344]

Hello No update about genius yield ? It looks like a ruggpull The team keep selling huge amount the token lost 99% of its value

[@LearnCardano]

I just had a look. Wow, that is a lot of sell pressure. I think its from all traders not just the team. Thats an insane drop off. If the market was more bullish there might be a different graph.

[@randyhiga6]

Vote for stables

[@LearnCardano]

There is a working group that is working on that and will put up a proposal for it. I just jumped into the group to check up on the status.