Bakepool is an ecosystem development project, deploying a publicly available open-source smart-contract that will make baking delegation services profitable ventures again (or ever—for most would-be bakers(, that is), even in the face of massive institutional staking competitors like Binance and Coinbase.
What is Bakepool?
On a social science note, this smart-contract will enable bakers (present and future bakers) to join together as collectives; as formalized tribal bands.
I envision this as collectives of new agrarians realizing value by clustering together with increasing shared-ness (i.e. decentralization) to delegate and designate responsibilities, enabling greater prosperity as a collective than they would on their own. These formed tribes, (over time, merge and scale and evolve, and splinter, and recombine in different ways and dimensions over time) will interface with delegates as collective businesses, run by its participants.
By enabling bakers each with full-fledged independent baking nodes to self-organize as collectives—‘bakepools’—Baking Delegation Services will have a mechanism to do and ‘become’ 3 main points of evolution:
- Pool Capacities enabling institutional-grade scaling potential for institutional grade clients, and achieve collective bargaining power
- Equitable Delegate Distribution using a combinatorial distribution method to prioritize: i. maximum number of bakers receiving delegated Tez in each order ii. minimizing standard deviation of delegate Tez divvied to the bakers. Think of a Tetris game, with each falling ‘piece’ as a divvied piece of a new delegation order coming in, and each column of the tetris board being another baker in that particular bakepool. The object is the same; to distribute the delegation pieces as equitably across the board as possible. The method of aggregation/delegation though will be a modular component so that different schemes of distribution can be made and used (That is, if a bakepool doesn’t like this method of equitable distribution for whatever reason).
- Self-Organize as decentralized sovereign bands that share the load as a formalized co-operative (smart-contract enabled/enforced), delegating different functions to different signatories in the pool, thereby leveraging specialized expertise of different individuals, to advance the collective as a whole. Voting power percentage is related positively to the level of ones capacity contributed to the pool — as their share of capacity-total to the bakepool. The first 2 roles are the “Bakepool Captain” (or just the ‘Captain’) and the “Partner Bakers” (the participant bakers in the bakepool) The captain can curate the bakers in their own network. Likewise, Partner Bakers can shop around and move to different bakepools if they don’t like their current bakepool.
Delegators would delegate to a single delegation key, but that key would not direct to one baking node, but a particular network of baking nodes—that is, to a bakepool. The bakepool aggregator/delegator mechanism divvies the delegation for assignment to the bakers in its network. What a delegator sees is the same as what they’d see if they delegated to one individual baker.
We’ll use this space to provide updates, answer questions, and have an ongoing conversation with the community.