We have found that in starting a staking pool in the blockchain space, the key requirement is patience. We participated in the Shelley Testnet and learned many things about running a pool from the technical aspect. Our approach is to start with the basics and build out a plan that will grow our pool to become a reliable staking pool.
Without a sound technical infrastructure, pool stakers will become frustrated with the pool, and you will never get a chance to get them to return if you disappoint them with your reliability. We are taking a soft opening approach to launching our pool. We set a low initial pledge and will not begin active marketing of our pool until we can measure how our infrastructure holds out.
We plan to increase our stake pledge each epoch until we reach the goal of 150,000 ada as our pledge, which we anticipate will be early October 2020. This will give us time to improve all aspects of our pool, and give stakers who want to balance out their staking activity a viable alternative.
We are constantly measuring performance from a technical standpoint. Being that we are a small pool in terms of stakers, we will match our configuration to the specs used by the largest pools to give us technological parity. In addition, we are committed to running a secure environment, and will implement all security protocols required by the Cardano community.
We believe that communication is an important part of running a successful pool. We plan to provide multiple channels to communicate how we are performing, what steps we are taking to improve performance and where we are doing well. We will be constantly updating our website with the latest information, including news from Cardano, our statistics and any other information the community might find useful. We are particularly going to gear our information to newer stakers, as we believe it is important to understand how everything ties together.
This is a long term commitment for us. Our goal is always to provide a stable and profitable staking pool. We see two specific types of potential stakers that we will be catering to.
Established Stakers- This group would include ADA holders as well as people who are looking to diversify their holdings and are familiar with the staking concepts and how everything works. For this group, the important thing is performance and reliability. This is our top priority and we will be able to deliver with our investment in the infrastructure, as well as our commitment to maintaining a secure pool.
Newbie Stakers- It is important to us to provide people who are new to staking or new to Cardano a pool that they will learn how everything works. The greatest growth potential for any project is mass adoption. As Cardano grows, we see an opportunity to "Onboard" the newest members of the community. We will provide information on how to set everything up, how it works and provide them with easy to follow information. We understand many people start out small and slow. We think that properly growing their knowledge of Cardano and staking will lead to a very loyal and satisfied stakers to our pool
Reputation is very important in any business. Having loyal stakers will be a big contributor to any pools success. We are determined to build a brand for ourselves by providing information to all our stakers and potential stakers. We chose our name and ticker to highlight our background. Missouri is known as the "Show-Me State". We will use that as our inspiration to provide an exceptional infrastructure, give our stakers knowledge and grow our community.
We will be continuing to grow our investment in both infrastructure and our own pledge to our pool. We pledged 100,000 ada and are reinvesting our rewards to grow beyond that. In addition, if the need arises to increase our VPS capabilities, we will make the commitment to expand so that we are on parity with the largest Cardano pools configurations.