Cardano SPO Vote No Fit Secure Mandate for k=1000

Cardano on-chain poll to increase the k parameter end on October 21 for the start of epoch 663.

About 210.5 million ADA explicitly support the proposal, wey dey far below the level wey dem need to get mandate from stake pool operators. So the k parameter still remain 500, and the current pool saturation level never change.

Only 2.2% of SPO Stake Vote Yes

The final count show say 26 pools vote Yes, 48 vote No and one pool abstain. Overall SPO turnout na about 9.8% of the registered voting stake.

Under the method wey the governance action define, Yes votes need to represent more than 50% of the applicable active SPO stake. Explicit Abstain votes no join the calculation, but registered stake wey no vote still remain inside the denominator and reduce the Yes share.

Alongside the about 210.5 million ADA wey support the proposal, around 1.91 billion ADA explicitly vote against am. Another 7.37 billion ADA of registered SPO stake no participate and dem treat am as default No for the calculation, even though those operators no cast any ballot.

DReps fit also vote and publish their reasons, but their decisions no determine whether SPO mandate dey. The final DRep count include 44 Yes votes, 38 No votes and 49 abstentions.

Wetyn Raising Cardano k Parameter Go Change

The k parameter, wey people also sabi as stakePoolTargetNum or nOpt, define Cardano target number of fully saturated stake pools. E no limit how many pools fit operate or guarantee say each pool dey under different operator.

For k=500, the indicative saturation point na about 0.2% of delegated stake, or around 75 million ADA under current conditions. If dem raise the parameter to 1,000, e go reduce that level to about 0.1%, or around 37.5 million ADA per pool.

Stake wey pass the saturation point still fit contribute to block production, but e no dey generate additional maximum rewards for the pool. Lower threshold fit therefore encourage delegators to move ADA comot from saturated pools.

The change no go increase the total reward pool. Na how dem distribute rewards across pools e go change. Supporters talk say the lower saturation point fit help spread delegation wider, while critics point out say large operators, exchanges and institutions fit create additional pool identities. So higher k value no automatically mean say more independent operators go show.

[NEWSBREAK]

Info Action Leave k for 500

Dem submit the poll as Info Action and e no fit directly change Cardano protocol parameters. The 50% threshold no be something wey the protocol enforce automatically. Na the proposal published method to determine whether enough SPO support dey to carry separate parameter change action go front.

Because dem no reach that threshold, the outcome no establish mandate to raise k to 1,000. The proposal still specify say the result no fit mean support for any different increase. Any other value go require im own explicit approval process.

Cardano don consider k=1000 before for 2023 SPO poll wey also include changes to the minimum pool cost. Options wey contain k=1000 get majority by pool count but no get majority by delegated stake, so no clear standalone position show for the parameter.

Any future attempt to change k go require new protocol parameter governance action and the applicable approvals. As this poll don conclude, k remain 500 and Cardano existing pool saturation and staking reward rules still dey in effect.