A Short Guide On how to delegate ADA to Ravendex’s Stake Pools
Ravendex is kicking off it’s ISPO (Initial Stake Pool Offering) today.
How does it work?
- Purchase ADA
- Delegate ADA to Ravendex Cardano node:
RAVEP Pool(100% Rave)
- Earn Rave tokens every epoch (5 days) — locked until token release
- Get Rave tokens airdropped after the ISPO ends.
This approach is revolutionary! as this is an opportunity for the Cardano Community to earn some Rave Tokens while also getting to to keep the ADA that they stake securely.
It’s all about giving and not taking, opening up opportunities and Ravendex sees it as a win-win-win; for the Community, for ADA, and for Ravendex!
Learn More about the Ravendex ISPO here
What is Cardano?
Cardano is a decentralized third-generation proof-of-stake blockchain platform, currently the third-largest blockchain in the market. Whilst it shares characteristics and applications with other blockchain platforms like Ethereum, Cardano distinguishes itself from others through a commitment to peer-reviewed scientific research as building blocks for updates to its platform.
Three organizations are responsible for Cardano’s development: IOHK, Cardano Foundation, and EMURGO. The first two are non-profit foundations and the third is a for-profit entity. The IOHK, which is responsible for building Cardano, works with a team of academics spread out across the world to produce research and review platform updates before implementation to ensure that they are scalable.
Why does Cardano require ADA to be staked or delegated to nodes?
ADA held on the Cardano network represents a stake in the network.
The ability to delegate or pledge a stake is fundamental to how Cardano works.
The more stake is delegated to a stake pool (up to a certain point), the more likely it is to make the next block — and the rewards that it earns are shared between everyone who delegated their stake to that stake pool.
How to stake ADA to Ravendex Cardano nodes
- Download Yoroi or Daedalus
- Continue through steps and then choose “Create wallet”
- Continue through account setup, write down your recovery (Seed) phrase, and complete the creation of your wallet. After your account is set up, you can purchase ADA from Exchanges and send to your Wallet (Here’s a guide on how to purchase ADA)
- Now that you have ADA in your wallet, you can click the “Delegation List” to find the RaveP ISPs. Find The RAVEP pool here.
- Here you can search for RAVEP and then click DELEGATE to enter into the Ravendex ISPO.
If you have any more questions in regards to participating in the Ravendex ISPO, please send us a message via our Telegram Group or Twitter.
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