Cardano’s testnet debuts with 17% ADA supply staked

by in Cryptocurrency News

Cardano testnet

Cardano’s incentivized testnet has launched with encouraging returns. Holders have already staked 17% of the ADA stock, which equals to 5.4 billion of the coin. IOHK additionally mentioned that above 120 staking pools ran online through the opening day of work.

Related: Merchants now can use Cardano’s payment gateway

Though most of the pools were managed by IOHK, various autonomous pools are leading the charts at PoolTool too.

For Cardano, this is an excellent sign, cause it intends to realize decentralization by maintaining an enormous number of staking pools. According to Cardano's roadmap, this system is going to “touch equilibrium” at 1000 pools. Current results indicate that the project will reach its aim in the nearest future.

According to information provided by PoolTool, holders of Cardano have already staked approximately 5.4 billion ADA coins, which represents 17% of coin's total supply and equals to $200 million. According to Cardano's earnings calculator, if the level of support proceeds growing this way, staking shareholders will be able to receive about 10% per year. Still, charges and pool specs are going to influence revenues as well.

Cardano’s 17% staking ratio is an extraordinary beginning. Elevated ratios aren't financial strength, but they do indicate more inclusive participation.