Question 1

What is staking?

Accepted Answer

Staking is a method of securing the network and equivalent of hashing power in PoW. The more stake a pool controls, the more often it is elected to produce a block thus it provides more rewards for it's delegators.

Question 2

How do I get ADA?

Accepted Answer

ADA can be purchased on major crypto exchanges such as Binance, Huobi or HitBTC. Most popular trading pairs as of now are ADA/BTC and ADA/USDT.

Question 3

Is there any risk?

Accepted Answer

No. While staking, none of your funds leave your wallet and they are always available for you to withdraw/send. By delegating to a pool you simply let the network know that you contribute to said pool's staking power which increases blocks assignment.

Question 4

How much can I earn?

Accepted Answer

The official numbers state between 5.5 to 6% APR. This is the return on ADA tokens plus potential increase in value.

Question 5

Are there any fees?

Accepted Answer

The Swimming Pool will operate on 0 fixed fee basis EVER. We promise to keep the variable fees level on low level while still being competitive. Subject to market evaluation.

Question 6

How do I choose a stake pool?

Accepted Answer

The best way to choose a stake pool is to look at the ranking in Daedalus wallet. It provides good insight on overall pool's performance, including blocks assigned to blocks produced ratio, total delegated stake and pledge amount.   The most important rule of staking is to avoid saturated pools as those will pay lesser rewards for all delegators. The color-coding provides information whether given stake pool is far or close to saturation point (green - good, yellow - getting close, red - saturated or oversaturated).

Question 7

How are rewards distributed?

Accepted Answer

The rewards are distributed automatically, according to your stake, after every epoch (5 days).

Question 8

I am already staking my funds in another pool, how do I switch?"

Accepted Answer

The pool you're delegating to can be change at any moment. It will take 2 epochs before you start receiving rewards from the new pool.

Question 9

Can I delegate to more than 1 pool at a time?

Accepted Answer

Yes, you have to create a separate wallet with desired delegation amount. The delegation system stakes whole amount of a wallet of your choice.

Question 10

Do I need to pay taxes on my staking rewards?

Accepted Answer

It will depend on the regulations in your country/state but generally earnings are taxable. SWIM is a UK based pool and so you only have to pay tax on coins that you exchange into fiat or other cryptocurrencies. More information available  HERE

SWIM

SWIM2

Live stake

Epoch blocks

Total blocks

ROA (%)