“Become a stake pool portfolio manager.”
Currently, to delegate to a pool, you need to go into Daedalus (or Yoroi) and delegate an entire wallet to your pool of choice. This means, the entire contents of that wallet will be delegated.
If you want to delegate to multiple pools, you need to manually split to multiple wallets, move your ADA to those individual wallets, then delegate each to a different pool. This simplified approach that was taken to ensure Shelley could be released on time.
Most people are not going to do the split step, so they’ll likely delegate all of their ADA in their wallet to one pool, which is tougher on smaller pools.
Delegation Portfolios
IOG is introducing one-to-many delegation. The concept is that you can create delegation portfolios in Daedalus which become user-created groups of pools. You can select your favourite ones, assign ratios to each pool (represented by tiles in Daedalus), creating a portfolio. The aim is to put that in a JSON file, which contains preferences of pools to amounts or percentages. You can delegate to that portfolio, and optionally export/share the portfolio, similar to how you might share a play list to a friend.
This opens the world up to curation of these portfolios (like a fund manager would), which can be “themed”. Examples are “small pool only” portfolio, or a “socially responsible” or “eco-friendly” portfolio, etc.
Charles announced that Atlas – a next gen explorer – is coming out. It will include a portfolio explorer, which would aggregate metadata and portfolio descriptions, etc. This should help diversity in the ecosystem, giving more exposure to smaller pools included in some of these portfolios. The most exciting part of this is that these lists/portfolios can be created and curated by the community.
HARDWARE UPDATES
IOG is working with a company called Vacuum Labs to enable the following functionality in offline devices Ledger and Trezor. Learn more about these devices if you are unfamiliar with them.
Update Ledger and Trezor
- One-to-many delegation as discussed above, except managed via an offline device
- Multi-signature pledge – many people can come together and create a pooled pledge governed by good access control, protecting participants
- KES (Key Evolving Signature) management – after a certain period, the key will evolve to a new key, increasing security. This will allow for further protection of private keys, as they will reside in an offline device, further reducing the opportunity for malicious attacks.
One of the absolute pleasures of participating in the Cardano community is the speed and effectiveness at which IOG and the greater community collaborate, producing tangible updates and results. These latest planned updates are a testament to that.
See and hear the details directly from Charles Hoskinson: