<p>SundaeSwap is a decentralized exchange and liquidity provision protocol. SundaeSwap DAO Token allows holders to participate in SundaeSwap governance and additional features introduced by the DAO.</p>

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SundaeSwap

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Pi Lanningham

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Mateen Motavaf

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Artem Wright

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Matt Ho

<p style="margin-left:0px;">On June 17th, 2024, Charles Hoskinson, the founder of the Cardano blockchain, announced on X that he has a pet pig named Nike. Charles’ pet quickly became popular within the community, and the X post went viral. This enthusiastic response highlighted the Cardano community’s unity and strength, even attracting memecoin enthusiasts from other blockchains. As is tradition in crypto, it wasn’t long before a memecoin with the ticker $NIKE was created and launched on a Decentralized Exchange. This article delves into NIKE, its distribution, trading volume, and more.</p><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*nz4jKBu5Y5gZq0bIQdDTXw.png" alt="" loading="lazy"></p><h2 style="margin-left:0px;"><strong>Distribution &amp; Tokenomics</strong></h2><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*F4UqLuxjhSqARlEvI9VFTw.png" alt="" loading="lazy"></p><p><a href="https://www.taptools.io/charts/token/e0302560ced2fdcbfcb2602697df970cd0d6a38f94b32703f51c312b.000de140c3a0e11af9b49ce47f8322e94ce3b9d6b3b97fb9f41a76ae7aeb05f0?distribution="><u>NIKE Distribution Pro page on TapTools</u></a></p><p style="margin-left:0px;">NIKE has a total supply of 1 billion tokens. Currently, 1 billion tokens are in circulation, at 0.00622 ADA per $NIKE, this gives the token a circulating Market Cap of $5.62 and a Fully Diluted Market Cap of $5.62M, placing it at #20 in the Top 50 tokens on Cardano by market valuation.</p><p style="margin-left:0px;">There are currently 5,415 wallets holding $NIKE, up 13.14% in the last 7 days. The token has a Median Holder Balance of 9.38K $NIKE, equivalent to 174.87 ADA, and an Average Holder Age of 15.89 days.</p><p style="margin-left:0px;">Examining the tokenomics of $NIKE, 100% of the token supply went into LP% and thus the token is fully circulating.</p><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*nz4jKBu5Y5gZq0bIQdDTXw.png" alt="" loading="lazy"></p><h2 style="margin-left:0px;"><strong>Liquidity</strong></h2><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*cQc0whsVaSZO-mN4ZO-CFg.png" alt="" loading="lazy"></p><p><a href="https://www.taptools.io/charts/token/e0302560ced2fdcbfcb2602697df970cd0d6a38f94b32703f51c312b.000de140c3a0e11af9b49ce47f8322e94ce3b9d6b3b97fb9f41a76ae7aeb05f0?liquidity="><u>NIKE Liquidity Pro page on TapTools</u></a></p><p style="margin-left:0px;">$NIKE has 456.18K ADA in pooled liquidity across 5 Decentralized Exchanges on the Cardano blockchain. More than half of this liquidity is on SundaeSwap V3 which has 60.41% of the tokens liquidity, followed by Minswap which has 21.02, and Splash being the third most liquid DEX for this token with 14.63% of the tokens total pooled liquidity.</p><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*nz4jKBu5Y5gZq0bIQdDTXw.png" alt="" loading="lazy"></p><h2 style="margin-left:0px;"><strong>Volume</strong></h2><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*PyPVgL_AYjRB_9HrQytqWA.png" alt="" loading="lazy"></p><p><a href="https://www.taptools.io/charts/token/e0302560ced2fdcbfcb2602697df970cd0d6a38f94b32703f51c312b.000de140c3a0e11af9b49ce47f8322e94ce3b9d6b3b97fb9f41a76ae7aeb05f0?volume+profiler="><u>NIKE Volume Profiler Pro page on TapTools</u></a></p><p style="margin-left:0px;">NIKE has a Lifetime Trading Volume of 115.73 million ADA, equivalent to 9.93 billion NIKE, across 109,588 trades on Cardano Decentralized Exchanges. 58.10 million ADA of this was buy volume, while 57.63 million was sell volume. The swordfish (25–100K ADA) wallet size led this token in trading volume, while whales (1M+ ADA) had the least trading volume.</p><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*nz4jKBu5Y5gZq0bIQdDTXw.png" alt="" loading="lazy"></p><h2 style="margin-left:0px;"><strong>Conclusion</strong></h2><p style="margin-left:0px;">The viral success of the $NIKE memecoin, inspired by Charles Hoskinson’s pet pig, has demonstrated the power and unity of the Cardano community. This phenomenon has attracted memecoin enthusiasts from other blockchains, significantly shifting their perceptions of Cardano. The community’s rallying behind $NIKE has led to its rapid market adoption, with notable liquidity and a growing holder base. With significant trading volume and strong engagement, $NIKE’s performance highlights the dynamic and supportive nature of the Cardano ecosystem. It will be interesting to see how the NIKE project evolves over the coming weeks and months and how it contributes to the Cardano ecosystem.</p><p style="margin-left:0px;">You can find out more about NIKE at the following link: <a href="https://nikepig.com/"><u>https://nikepig.com/</u></a></p>

TapTools

Token Spotlight: NIKE

<p style="margin-left:0px;">Since its launch in late 2021, the Cardano DeFi ecosystem has undergone significant evolution, establishing a robust and dynamic landscape. It has bootstrapped its own liquidity and advanced from the early days of Plutus V1 to the cutting-edge Aiken, enhancing transaction efficiency and throughput. With the impending arrival of Plutus V3, Cardano’s DeFi capabilities are set to expand even further. This article examines a variety of protocols within Cardanos Decentralized Finance ecosystem, including DEXs, synthetic assets, and lending platforms, as well as some promising upcoming protocols.</p><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*nz4jKBu5Y5gZq0bIQdDTXw.png" alt="" loading="lazy"></p><h2 style="margin-left:0px;"><strong>Decentralized Exchanges</strong></h2><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*fYu8UgxDfI20Z6rMEzPVWw.png" alt="" loading="lazy"></p><p style="margin-left:0px;">Cardano’s decentralized exchanges (DEXs) have been pivotal in driving the ecosystem’s growth, offering secure and efficient trading platforms. In this section, we’ll delve into the unique features and innovations of these DEXs.</p><h2 style="margin-left:0px;"><strong>Minswap</strong></h2><p style="margin-left:0px;">Minswap, the first multi-pool DEX on Cardano, launched on March 8, 2022. As a community-driven platform, it has significantly contributed to the ecosystem’s development by enhancing trading capabilities. With Minswap V2 on the horizon, written in Aiken, users can look forward to substantial speed and throughput improvements. Additionally, the new version will introduce advanced pro features, a revamped UI, and more enhancements.</p><p style="margin-left:0px;">You can find out more about Minswap <a href="https://t.co/JE66Ce2Xzf"><u>here</u></a>.</p><h2 style="margin-left:0px;"><strong>Splash</strong></h2><p style="margin-left:0px;">Splash, one of the most recent decentralized exchanges (DEXs) to launch on Cardano, is known for its next-generation approach to market-making and trading. It combines various AMM liquidity pools with its unique Temporal Liquidity Book (TLB), offering traders the best prices and market makers the flexibility to provide liquidity efficiently. Recently, Splash introduced a new UI and onboarded Splash partner liquidity, marking the launch of stablepools with the OADA/ADA pool.</p><p style="margin-left:0px;">You can visit the Splash DEX and check out the project’s new UI here: <a href="https://app.splash.trade/"><u>https://app.splash.trade/</u></a></p><h2 style="margin-left:0px;"><strong>SundaeSwap</strong></h2><p style="margin-left:0px;">SundaeSwap, launched on January 20, 2022, is the first automated market maker (AMM) style DEX on Cardano. Recently, SundaeSwap introduced V3, which brings enhanced throughput and a wealth of new features. This upgrade has significantly boosted its performance, making it responsible for a large portion of the daily trading volume on Cardano.</p><p style="margin-left:0px;">You can find out more about Sundaeswap at the following link: <a href="https://sundae.fi/products/sundaeswap"><u>https://sundae.fi/products/sundaeswap</u></a></p><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*nz4jKBu5Y5gZq0bIQdDTXw.png" alt="" loading="lazy"></p><h2 style="margin-left:0px;"><strong>Yield Protocols</strong></h2><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*vc4ymRh7gIa-Acd2Z5UnEQ.jpeg" alt="" loading="lazy"></p><p style="margin-left:0px;">Yield products in the Cardano ecosystem offer lenders the opportunity to earn higher returns compared to native staking. Borrowers, on the other hand, can gain staking power to earn rewards and participate in ISPOs.</p><h2 style="margin-left:0px;"><strong>Fluid Tokens</strong></h2><p style="margin-left:0px;">FluidTokens is a DeFi platform on Cardano, offering a variety of innovative financial services. These include boosted staking, lending, and renting. Boosted Stake allows users to maximize their ADA staking rewards and participate in ISPOs by lending or borrowing ADA delegation rights.</p><p style="margin-left:0px;">You can visit the FluidTokens website at the following link: <a href="https://fluidtokens.com/"><u>https://fluidtokens.com/</u></a></p><h2 style="margin-left:0px;"><strong>Optim Finance</strong></h2><p style="margin-left:0px;">Optim Finance is a yield protocol on Cardano, offering innovative products designed to optimize capital allocation. Its initial offerings include Liquidity Bonds and Strategy Vaults, which enable users to lend and borrow ADA staking rights and participate in automated investment strategies. In July 2024, Optim Finance launched OADA, an ADA derivative, and SOADA, a staked ADA derivative.</p><p style="margin-left:0px;">More information about Optim Finance can be found here: <a href="https://www.optim.finance/"><u>https://www.optim.finance/</u></a></p><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*nz4jKBu5Y5gZq0bIQdDTXw.png" alt="" loading="lazy"></p><h2 style="margin-left:0px;"><strong>Lending Protocols</strong></h2><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*KdTwSwv_LGAhT3OZ1-jlKQ.jpeg" alt="" loading="lazy"></p><p style="margin-left:0px;">Lending protocols in the Cardano ecosystem come in various forms, such as pooled and peer-to-peer, offering flexible options for both lenders and borrowers.</p><h1 style="margin-left:0px;"><strong>LenFi</strong></h1><p style="margin-left:0px;">LenFi, initially launched as Aada Finance on September 13, 2022, was the first lending protocol on Cardano. It introduced peer-to-peer lending to the ecosystem. Recently, LenFi launched V2, which brings pooled lending and borrowing, written in Aiken for higher throughput.</p><p style="margin-left:0px;">The LenFi website can be found here: <a href="https://lenfi.io/"><u>https://lenfi.io/</u></a></p><h1 style="margin-left:0px;"><strong>Levvy Finance</strong></h1><p style="margin-left:0px;">Levvy Finance, a peer-to-peer lending protocol on Cardano, launched on June 23, 2023. The protocol allows NFT and fungible token owners to access instant liquidity by using their assets as collateral. Recently, Levvy Finance was acquired by Angel Finance, a decentralized venture capital entity within the Cardano ecosystem.</p><p style="margin-left:0px;">You can visit Levvy Finance at the following link: <a href="https://levvy.fi/"><u>https://levvy.fi/</u></a></p><h1 style="margin-left:0px;"><strong>Liqwid Finance</strong></h1><p style="margin-left:0px;">Liqwid Finance, the first pooled lending protocol on Cardano, initially launched in Q4 2021. The recent launch of Liqwid V2 introduced significant enhancements, including Aqueduct for improved liquidity management, Tap for optimized transaction building, a new API for better developer integration, and a more user-friendly interface</p><p style="margin-left:0px;">Find out more about Liqwid here: <a href="https://liqwid.finance/"><u>https://liqwid.finance/</u></a></p><h2 style="margin-left:0px;"><strong>Yamfore</strong></h2><p style="margin-left:0px;">Yamfore is a decentralized non-custodial lending protocol on Cardano. It allows users to borrow ADA by depositing collateral without the risk of liquidations or ongoing interest payments. Yamfore uses over-collateralization and provides flexible loan terms, making it a user-friendly option for crypto-backed loans on the Cardano blockchain.</p><blockquote><p style="margin-left:0px;"><i>After the recent launch of Optim with the OADA — sOADA mechanism, and the upcoming launch of Butane, we believe that Yamfore, with its particular characteristics, comes to join this new wave of DeFi protocols that will improve and complement what already exists in Cardano. — </i><a href="https://x.com/diegomac35"><i><u>Diegomac</u></i></a><i> | Yamfore Community Advisor</i></p></blockquote><p style="margin-left:0px;">You can visit the Yamfore website at the following link: <a href="https://www.yamfore.com/"><u>https://www.yamfore.com/</u></a></p><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*nz4jKBu5Y5gZq0bIQdDTXw.png" alt="" loading="lazy"></p><h2 style="margin-left:0px;"><strong>Synthetic Protocols</strong></h2><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*JUS7kPQfwqqmHMlrg2iigw.jpeg" alt="" loading="lazy"></p><p style="margin-left:0px;">Synthetic assets in the Cardano ecosystem offer exposure to various financial instruments without direct ownership. This section delves into the platforms providing synthetic assets on Cardano.</p><h1 style="margin-left:0px;"><strong>Butane</strong></h1><p style="margin-left:0px;">Butane is a next-generation, multi-collateral synthetic protocol on Cardano. Designed for high efficiency and throughput, it leverages the Aiken programming language to allow users to create multiple Collateralized Debt Positions (CDPs) within a single transaction. Currently, Butane is on testnet, with a mainnet launch anticipated soon.</p><blockquote><p style="margin-left:0px;"><i>“I’m excited to have the community using Butane soon and hope together to usher in a new era of synthetics on Cardano” — </i><a href="https://x.com/Dubbleu_43"><i><u>Dubbleu</u></i></a><i> | Butane Community Manger</i></p></blockquote><p style="margin-left:0px;">More information about Butane Synthetics can be found here:</p><p style="margin-left:0px;"><a href="https://butane.dev/"><u>https://butane.dev/</u></a></p><h1 style="margin-left:0px;"><strong>Indigo</strong></h1><p style="margin-left:0px;">Indigo Protocol, launched in November 2022, is the first synthetic assets protocol on Cardano. It allows users to create and trade synthetic assets, known as iAssets, which mimic the value of real-world assets such as iUSD (a stablecoin), iBTC (Bitcoin), and iETH (Ethereum). By using Collateralized Debt Positions (CDPs), users can mint these iAssets by collateralizing ADA, enabling them to engage in DeFi activities without losing out on staking rewards</p><p style="margin-left:0px;">The Indigo Protocol website can be found here: <a href="https://app.indigoprotocol.io/"><u>https://app.indigoprotocol.io/</u></a></p><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*nz4jKBu5Y5gZq0bIQdDTXw.png" alt="" loading="lazy"></p><h2 style="margin-left:0px;"><strong>Stablecoins</strong></h2><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*DiuW3XUQKiFXgGoZ_p9xFg.jpeg" alt="" loading="lazy"></p><p style="margin-left:0px;">Stablecoins in the Cardano ecosystem provide price stability, crucial for transactions and DeFi activities.</p><h2 style="margin-left:0px;"><strong>Djed</strong></h2><p style="margin-left:0px;">Djed is an overcollateralized algorithmic stablecoin on Cardano, issued by COTI. It maintains stability by holding a reserve of ADA and using SHEN as the reserve currency, ensuring a reliable stable value for DeFi applications on Cardano.</p><p style="margin-left:0px;">More info on Djed can be found here: <a href="https://www.djed.xyz/"><u>https://www.djed.xyz/</u></a></p><h2 style="margin-left:0px;"><strong>MyUSD</strong></h2><p style="margin-left:0px;">MyUSD is a decentralized stablecoin on Cardano, created by the Mynth team. It maintains its peg through various strategies, including the minting and burning of MyUSD, providing a secure and stable cryptocurrency option for participants in the Cardano ecosystem.</p><p style="margin-left:0px;">You can read more about MyUSD here: <a href="https://www.mynth.ai/"><u>https://www.mynth.ai/</u></a></p><h2 style="margin-left:0px;"><strong>USDM</strong></h2><p style="margin-left:0px;">USDM is a fiat-backed stablecoin on the Cardano blockchain, developed and issued by Moneta, previously known as Mehen. Pegged to the US dollar, it provides a stable value for transactions and savings within the Cardano ecosystem.</p><p style="margin-left:0px;">You can read more about USDM at the following link: <a href="https://mehen.io/"><u>https://mehen.io/</u></a></p><p style="margin-left:auto;"><img class="image_resized" style="width:680px;" src="https://miro.medium.com/v2/resize:fit:1400/1*nz4jKBu5Y5gZq0bIQdDTXw.png" alt="" loading="lazy"></p><h2 style="margin-left:0px;"><strong>Conclusion</strong></h2><p style="margin-left:0px;">Cardano’s DeFi ecosystem has grown remarkably since its inception, showcasing a wide array of protocols from DEXs to synthetic assets and lending platforms. With continuous advancements and the introduction of new protocols, the ecosystem is becoming more robust and dynamic. It will be fascinating to observe how Cardano’s Decentralized Finance landscape continues to evolve and innovate in the weeks and months ahead.</p>

Cardano DeFi

<div>
																<p>Cardano (ADA) is one of the largest blockchains with a vast dApp ecosystem and one of crypto’s most active development communities.</p>
<p>Data shows that at the time of this writing in July 2024, over 70% of ADA in circulation is <a href="https://www.stakingrewards.com/" target="_blank">actively staked</a>. That means millions of Cardano users hold and stake ADA, enhancing the network’s security and compounding profits.</p>
<p>Staking ADA does not require lockup periods, and users can transact ADA even while it remains staked. This level of flexibility makes Cardano’s staking mechanism unique, attracting crypto veterans and newcomers alike.</p>
<p>With Cardano’s rising popularity, newcomers seek to stake their tokens in some of the best Cardano staking pools.</p>
<h2>Quick Navigation</h2>
<ul>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#1">What is Cardano Staking?</a></li>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#2">Staking ADA in a Pool Vs. Staking ADA on an Exchange</a></li>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#3">How to Stake your Cardano (ADA)</a></li>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#4">The Best Cardano Staking Pools</a>
<ul>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#4.1">Cardanians.io</a></li>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#4.2">CardanoCafe</a></li>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#4.3">Spire Staking</a></li>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#4.4">Rocky Mountain Staking</a></li>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#4.5">Nordic Pool</a></li>
</ul>
</li>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#5">Factors to Consider When Choosing a Staking Pool</a></li>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#10">Researching and Evaluating Staking Pools</a></li>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#6">Is Staking ADA Safe?</a></li>
<li><a target="_blank" href="https://cryptopotato.com/best-cardano-staking-pools/#7">Final Thoughts on the Best Pools to Stake Cardano</a></li>
</ul>
<h2 id="1">What is Cardano Staking?</h2>
<p>As in any proof-of-stake blockchain, staking pools are crucial to the Cardano network. They serve as block-producing server nodes that pool the staked ADA of multiple depositors.</p>
<p>Holding ADA on the Cardano blockchain represents a commitment to the network, with the stake size proportional to the amount of staked ADA.</p>
<p>One peculiarity of Cardano is <a href="https://www.essentialcardano.io/glossary/stake-address" target="_blank">stake addresses</a>, which allow you to stake all tokens within a specific address. That means you don’t have to re-stake any of your funds (but you can’t send or receive payments as you would with your everyday wallet).</p>
<h3>Earning Rewards With ADA</h3>
<p>ADA holders can earn rewards in two ways: by delegating their stake to a pool managed by someone else or by running their own pool. The Ouroboros protocol primarily uses the amount of stake delegated to a pool to decide who should add the following block to the blockchain and receive a reward.</p>
<p>The more assets delegated to a pool (there are limits), the higher the chances of creating the next block. Naturally, the rewards earned are shared among everyone who participated (including operators) and delegated their funds.</p>
<h3>Public Stake Pools Vs. Private Stake Pools</h3>
<p>Note that there are public and private Cardano stake pools.</p>
<ul>
<li>Public pools provide an address that enables users to delegate their tokens and receive rewards directly, taking away the complexity of running the pool themselves.</li>
<li>Private pools only provide rewards to their operators and vetted delegators. If you have the time and resources to run the node, you could keep 100% of the stake earnings to your reward address.</li>
<li>More specifically, having sufficient resources means you can run at least one block every epoch (the amount of ADA per block changes based on multiple parameters, and it’s never the same for every pool.)</li>
</ul>
<p>To sum up, stake pools are managed by reliable operators who have the technical knowledge and resources to run the node consistently. The more delegated stake in a pool, the higher its chances of being chosen as the next block producer.</p>
<h2 id="2">Staking ADA in a Pool Vs. Staking ADA on an Exchange</h2>
<p>Staking in a Cardano pool supports network decentralization, as it relies on independent operators running nodes. Rewards are distributed proportionally based on the amount of ADA staked and the pool’s performance.</p>
<p>As with other blockchains, delegators maintain control over their ADA, as staking in Cardano is non-custodial; funds are not locked and can be accessed at any time.</p>
<p>More advanced crypto users might prefer staking directly on a Cardano pool, but this requires more due diligence, such as finding reliable pools with minimal orphaned blocks and a robust technical setup. Other technical elements will be discussed at the end of this article.</p>
<ul>
<li>
<h4>Staking on an Exchange</h4>
</li>
</ul>
<p>On the other hand, exchanges often provide a more user-friendly interface and manage the technical aspects of staking. However, note that the main risk of doing this is that exchanges are custodial platforms, meaning they hold your funds.</p>
<p>Further, exchanges may charge higher fees, and the reward structure can vary, sometimes offering lower returns than independent pools.</p>
<p>Overall, it depends on your situation. Newcomers might find an exchange a more suitable option because they provide a more user-friendly experience but face higher fees and custodial risk.</p>
<p>Before we review the best Cardano staking pools, there are a few things to clear out of the way. First, you must know how to stake your Cardano into a pool.</p>
<h3>Setting up a Cardano wallet</h3>
<p>First things first —you need a <a target="_blank" href="https://cryptopotato.com/best-cardano-wallets/">Cardano wallet</a> that supports staking. There are several options to choose from: Yoroi, Daedalus, or Exodus. While these are software options, you can still stake with hardware wallets, although you might be obliged to use a third-party app to stake Cardano.</p>
<p>The best way to do this is to read our comprehensive guide on the Best Cardano Wallets for 2024.</p>
<p>Once you have chosen a wallet for the job and top it up, you’re ready to dive into some of the best Cardano staking pools.</p>
<h3>Choosing a Cardano Pool</h3>
<p>There are around 3,000 Cardano pools to choose from. Ideally, you’d go to ADApools.org, a platform that aggregates data from all Cardano pools in existence and a dashboard with all the metrics necessary to gauge each pool’s performance.</p>
<p>Each pool in the list has several metrics embedded, including the stake APY, stake size, blocks (i.e., number of blocks produced —the higher, the better—), and pledge (amount of ADA pledged). Here’s a look at the website:</p>
<p>By clicking on one of the pools, you’ll find important metrics and their overall performance. Further, you can look at the number of rewards, current delegators, and you might also find the owner/operators, who usually have a biography or social media in which you can contact them.</p>
<blockquote><p>This is another key point: joining social media forums and discussing topics in Cardano groups can help you stay up-to-date on the latest developments.</p></blockquote>
<p>If you click on the More Information tab, you will be redirected to cexplorer.io, and there, you’ll find more in-depth information about the pool, including the pool’s lifetime luck, number of delegators, and saturation percentage. In the example below, the Cardanians pool has an 89.36% saturation, 47 blocks in epoch, and a Lifetime Luck of 97.7%.</p>
<h3>Pool Hopping</h3>
<p>Since returns from stake pools fluctuate with each epoch, a pool currently offering low returns may later yield higher rewards. In staking, there’s a strategy called Pool Hopping. As the name suggests, you are moving from one pool to another to capitalize on the varying returns of different staking pools.</p>
<p>In other words, pool hoping is just betting on the pool’s luck. There’s even a metric called Lifetime Luck, which is applied to each Cardano pool. Be aware that pool hopping also means paying transaction fees with each move, and over time, these can diminish the overall benefits, making the strategy less advantageous.</p>
<p>If you don’t have the time for it, you might as well take the good ol’ passive staking approach —enjoying the convenience of crypto staking without constant, frenetic monitoring.</p>
<h2 id="4">The Best Cardano Staking Pools</h2>
<p>Now that most of the important information and basic steps to staking in Cardano have been explained, let’s look at some of the top Cardano pools.</p>
<p>However, a necessary disclosure here is that the pools saturate fast. Therefore, the list below does not have a specific order, as pools can quickly become outdated.</p>
<p>The best way to do your research is to use the above factors and practices once a new batch of staking pools gains traction in Cardano. This will allow you to delegate your ADA to new, hotter pools.</p>
<blockquote><p>Please note that some of the stats that we’ve shown below change constantly. The following stats are relevant to July 2024.</p></blockquote>
<h2 id="4.1">Cardanians.io</h2>
<p><a href="https://cexplorer.io/pool/pool1vx9tzlkgafernd9vpjpxkenutx2gncj4yn88fpq69823qlwcqrt" target="_blank">Cardanians</a> is a collective of cryptocurrency enthusiasts and official ambassadors for Cardano, committed to enhancing the network’s security and decentralization.</p>
<p>They manage staking pools known for their stability, transparency, and reliability. Additionally, Cardanians participate in community activities by writing and translating articles to support the Cardano ecosystem.</p>
<p>Quick stats:</p>
<ul>
<li>Margin fee: 2%</li>
<li>Lifetime ROA: 4%</li>
<li>Blocks produced: 16,135 total.</li>
<li>Amount staked (in ADA): 66M</li>
</ul>
<h2 id="4.2">CardanoCafe</h2>
<p><a href="https://cexplorer.io/pool/pool1tdsrw0n33gmy0mzh7cgtn9p0jy5xwjxaa2s26gn2ewf8kg4nrzx" target="_blank">CardanoCafe</a> is a staking pool operator within the Cardano ecosystem, recognized for its dedication to sustainability and climate neutrality.</p>
<p>CardanoCafe is part of the Climate Neutral Cardano (CNC) alliance and uses 100% renewable energy for its operations, highlighting its commitment to environmentally friendly practices.</p>
<p>The platform offers at least three staking pools for delegators: Cafe1, Cafe2, and Cafe3. The two main pools have a saturation of 95.14% and 14.05%, with the third one having less than 1%. Naturally, the most saturated pool has a bigger fee but comes with more delegators and more active staked ADA.</p>
<p>Quick stats:</p>
<ul>
<li>Margin fee: 1%</li>
<li>Lifetime ROA: 3.93%</li>
<li>Blocks produced: 11,740</li>
<li>Amount staked (in ADA): 72M</li>
</ul>
<h2 id="4.3">Spire Staking</h2>
<p><a href="https://cexplorer.io/pool/pool16agnvfan65ypnswgg6rml52lqtcqe5guxltexkn82sqgj2crqtx" target="_blank">Spire Staking</a> is a prominent staking pool in the Cardano ecosystem, identified by the ticker [SPIRE]. According to the Cardano Journal, it is listed among the top staking pools due to its competitive ROA and substantial live stake.</p>
<p>Overall, Spire Staking is a well-established and high-performing Cardano staking pool with a high number of delegators and over 14,000 blocks produced.</p>
<p>The pool’s performance metrics and block production highlight its efficiency and effectiveness as a staking option.</p>
<p>Quick stats:</p>
<ul>
<li>Margin fee: 1%</li>
<li>Lifetime ROA: 3.96%</li>
<li>Blocks produced: 14,843</li>
<li>Amount staked (in ADA): 70.39M</li>
</ul>
<h2 id="4.4">Rocky Mountain Staking</h2>
<p><a href="https://cexplorer.io/pool/pool173mzegwuu0pjcrt60ekelzj5haqr8r5e4e0n45qh9jdz7xm5kh8" target="_blank">Rocky Mountain Staking (ROCKY)</a> is a Cardano stake pool run by Ken Akerley, an experienced IT professional based in Calgary, Canada. Ken operates the pool using its own infrastructure and avoiding centralized cloud providers.</p>
<p>The pool has become one of the largest (and most saturated) pools, with over 58M staked ADA. This is primarily thanks to the fact that a public and experienced operator manages it and has secure and highly available infrastructure to ensure no missed blocks.</p>
<p>However, the fee is higher than other pools, at 1.99%. This is compensated by the pool’s Lifetime and recent ROA, which are 3.3% and 4.02%, respectively.</p>
<p>Ken is dedicated to Cardano’s decentralization and its community, being constantly active in forums and discussions on social media regarding its pool and the overall Cardano ecosystem.</p>
<p>Quick stats:</p>
<ul>
<li>Margin fee: 1.99%</li>
<li>Lifetime ROA: 4.02%</li>
<li>Blocks produced: 7339</li>
<li>Amount staked (in ADA): 58M</li>
</ul>
<h2 id="4.5">Nordic Pool</h2>
<p><a href="https://cexplorer.io/pool/pool17rjst78s67lvellg8s586rf076jxa3wnsdz730f4xk2zwuhrtej" target="_blank">Nordic Pool</a> is one of the largest Cardano staking pools. It is run by two pseudonymous crypto entrepreneurs based in Sweden. The team also consists of two community moderators who are in charge of running the site’s official <a href="https://web.telegram.org/a/#-1001286288653" target="_blank">Telegram channel</a> and social media.</p>
<p>Nordic Pool offers up to five pools, all with the same ticker (NORTH). The platform has partnered with SundaeSwap and other prominent crypto applications in the industry.</p>
<p>Quick stats:</p>
<ul>
<li>Margin fee: 1.99%</li>
<li>Lifetime ROA: 4.02%</li>
<li>Current ROA: 3.3%</li>
<li>Blocks produced: 7339</li>
<li>Amount staked (in ADA): 58M</li>
</ul>
<h2 id="5">Factors to Consider When Choosing a Staking Pool</h2>
<ul>
<li>Return on Stake (ROS): represents the expected annual return from staking in a particular pool. Comparing ROS across different pools can help maximize potential earnings.</li>
<li>Pool Saturation: Pools have a saturation point beyond which additional staking results in diminishing returns. Choosing pools that are not overly saturated ensures optimal rewards.</li>
<li>Pool Fees: Pools might charge a fixed fee (e.g., 340 ADA) and a variable margin fee. Lower fees generally translate to higher net rewards for delegators.</li>
<li>Pool Reputation and History: Evaluating a pool’s track record, including its reliability and performance history, provides insights into its stability and trustworthiness.</li>
<li>Pool Infrastructure and Reliability: Reliable infrastructure ensures the pool can consistently produce blocks and earn rewards. Look for pools with minimal orphaned blocks and robust technical setups.</li>
<li>Pool Operator Communication and Community Engagement: Active communication and engagement from pool operators can indicate a well-managed pool. Operators who contribute to the community and</li>
</ul>
<h2 id="10">Researching and Evaluating Staking Pools</h2>
<p>Here are a few research and evaluation practices to follow before staking on Cardano.</p>
<h3>Using Cardano Community Resources</h3>
<p>Leverage resources like the Cardano Foundation’s website and community forums to gather information about different pools.</p>
<h3>Exploring Pool Metrics on Cardano Blockchain Explorers:</h3>
<p>Some of the best data aggregators for pools are ADApools and Cardano Journal, which provide detailed metrics on pool performance, saturation, fees, lifetime luck, blocks produced, and each pool’s official website, helping you make informed decisions.</p>
<h3>Seeking Advice from Experienced Stakers</h3>
<p>Engaging with experienced stakers in community forums and social media groups can provide valuable insights and recommendations. Moreover, most Cardano staking pools are led by operators that provide a public Telegram channel that allows you to stay updated with current pool developments.</p>
<h3>Joining Cardano Community Forums and Social Media Groups</h3>
<p>Participating in groups like <a href="https://www.reddit.com/r/cardano/" target="_blank">r/cardano</a> will help you stay updated on the latest developments and pool performance and seek community advice.</p>
<p>Moreover, engaging with the Cardano community through forums and other social media groups, etc., is crucial to gain insights and advice from ADA stakers.</p>
<h2 id="6">Is Staking ADA Safe?</h2>
<p>In general terms, staking is quite an attractive way of generating a passive, compounded income. You’re letting your crypto funds work for you while committing to the network’s overall security.</p>
<p>However, staking in ADA —and with any crypto network, for that matter— conveys certain risks that should be considered before joining a pool. Since there are no lockup periods for staking ADA, that point will be skipped, but there are other general risks associated with staking.</p>
<h3>Potential risks associated with staking</h3>
<ul>
<li>Volatility: The value of the staked token can fluctuate significantly, even overnight. High annual percentage yields (APYs) may be offset by sharp asset price declines.</li>
<li>Liquidity Risk: Low liquidity in some cryptocurrencies can make it difficult to sell or convert staking rewards into stablecoins, posing challenges, especially for micro-cap altcoins.</li>
<li>Running a node: Running your own pool requires a certain level of technical expertise and constant uptime. This translates into time and resources to run a Cardano pool.</li>
<li>Smart contract vulnerabilities: Staking platforms and cryptocurrencies are susceptible to hacking and smart contract exploits.</li>
</ul>
<h3>The Importance of Diversification</h3>
<p>As the old saying goes, don’t put all your eggs in one basket. Users often explore multiple pools and invest in several of them in order to offset the risks and potential losses associated with staking.</p>
<p>Investing in multiple pools can compensate for the impact of a single asset’s poor performance. In practice, this should balance the risk and potential returns.</p>
<h3>Staying Informed and Adapting to Ecosystem Changes</h3>
<p>Like one of the previous points, staying updated with the latest developments within the Cardano ecosystem will help you make wiser and more informed decisions. Educating yourself on topics you’re unaware of is also helpful.</p>
<h2 id="7">Final Thoughts on the Best Pools to Stake Cardano</h2>
<p>Choosing the best Cardano staking pool requires due diligence and keeping up with the latest developments in the Cardano ecosystem.</p>
<p>Note that some of the best Cardano pools saturate fast. Therefore, it is recommended that you follow the instructions in this guide before joining a staking pool.</p>
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Best 5 Cardano Staking Pools: How to Stake ADA in 2024

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Analysts predict a 35% gain in NEAR Protocol’s prices if market conditions improve, highlighting resilience amidst fluctuating sentiment and technical patterns. However, sustained bearish pressure in the broader markets poses a downside risk to NEAR’s recovery efforts.</p><h2>BlockDAG’s X1 Beta Miner App &amp; DEV Team’s Dedication</h2><p>In the search for something new and unprecedented, BlockDAG has redefined the standards of crypto mining platforms with its innovative X1 miner app, the beta version of which was recently launched. This state-of-the-art application simplifies user engagement through secure OTP verification for onboarding and offers direct presale access to BDAG coins, enabling users to invest seamlessly. 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Blockchain Reporter

BlockDAG X1 App & $54.1M Presale Boom vs vs Cardano & NEAR

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