Gertjan

Cardano Stake Pool Operator (Ticker: BKIND), Cardano Blockchain Auditor and DRep: drep1ytc6867ae0xmkekvmex79r9akyy28eu8nu03jf3xu9fle6c82l4eq Malinois dad.

[Gertjan @BKINDSPO]

@therealdisasm Agree. It's crazy that DReps and SPOs with millions of ada in voting power don't even bother to publish a decent rationale while representing so many delegators.

[Gertjan @BKINDSPO]

@adamKDean @Cerkoryn 4/4: And you made the last point yourself: if exchanges outbid protocol rewards by subsidizing from trading revenue, that is not game theory converging. That is off-chain money buying the base layer.

[Gertjan @BKINDSPO]

@adamKDean @Cerkoryn 3/4: reward accounts and self-declared pool families collapses those to somewhere between roughly 40 and 90 operators. That is where nature's course is converging.

[Gertjan @BKINDSPO]

@adamKDean @Cerkoryn 3/3: Block producers: 2,210 in 2021, 1,515 in 2025, down every single year.

That is not decentralization for the sake of it. That is the product degrading while you defend the operators degrading it.

[Gertjan @BKINDSPO]

@adamKDean @Cerkoryn 2/3: the only measured improvement this chain has ever recorded. Today one metadata backend runs 90 pools with 2.5B ada of customer stake, and its abstention block single-handedly decided an SPO outcome: 49.2% counted as no, 58.8% counted as abstain.

[Gertjan @BKINDSPO]

@adatainment Check this: https://t.co/VvrHd9SPbM

[Gertjan @BKINDSPO]

@adamKDean @Cerkoryn 5/5: I retired a pool too. I did not conclude the rulebook may never move; I measured what happens when it does.

[Gertjan @BKINDSPO]

@adamKDean @Cerkoryn 4/5: And the argument is not fairness but security: concentration degrades the one product this network sells.

[Gertjan @BKINDSPO]

@SantiagodeOZZZ @Yabba900 @ItsDave_ADA @Cerkoryn @yutazzz 4/4:

[Gertjan @BKINDSPO]

@SantiagodeOZZZ @Yabba900 @ItsDave_ADA @Cerkoryn @yutazzz 3/4:

[Gertjan @BKINDSPO]

@adamKDean @Cerkoryn 4/4: Today, with 7 pools above the saturation line, k=500 sends no signal at all.

[Gertjan @BKINDSPO]

@adamKDean @Cerkoryn 3/4: The one time stake moved at scale was when k itself moved: 150 to 500 in 2020. About 3.6 billion ada shifted within a month, 93% of the saturated overhang in five epochs. Delegators follow the reward formula, not appeals to consolidate.