Tinyman Staking Pool for participating in Consensus

Proposal Discussion
1

Now that Vanilla Governance on Algorand is coming to end and transitioning to consensus style governance, we need multiple staking pools to be set up for non techies to be able to participate in consensus and earn rewards based on their Algo’s staked.

I think this would be something which Tinyman can create and support. Many people do not know how to run a node, but many can easily delegate their algo’s with a few clicks to a staking pool, thus participating in consensus, securing the network and earning rewards.

Can Tinyman set up a staking pool so users can participate? Taking it a step further, for anyone who wants to participate in consensus via tinyman staking pools, they must hold $tiny tokens… This could be another form of utility for the Tiny token…

I’m sure their will be other staking pools created by other platforms/people… But the more the merrier, the better, the safer as it will help reduce a monopolistic sort of situation.

Just sharing ideas out there… What do you guys think?

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I think it’s a good idea. However, please allow me to make one correction.

If TINY tokens are distributed through this, it will create selling pressure on TINY.

The fees deducted from the system will vary based on the amount of TINY held. The rewards obtained by the system will be used to buy back TINY tokens. This mechanism would be better for the price.

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Hi @Aper and @mangosteen , thank you for your suggestions. We understand that the general idea of a Tinyman Staking Pool is appealing. However, the concept of consensus is such, that Staking Pools will receive their consensus rewards in $ALGO. Hence, there is no utility for $TINY involved in this process. Delegating to a Staking Pool will likely be possible on a dedicated consensus website, as well as in Pera or Defly directly.

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