We are almost there Space Farmers. The final countdown has started for the release of the official pool protocol.
The Chia team is putting the finishing touches on the NFT plots and while a few pools have already started accepting users for mainnet, there is still a slight chance the plots today will not be eligible so plot at your own risk. We expect the official launch will happen in the next few days and farmers will be able to fairly and securely farm XCH with regular rewards.
Chia Decentral is committed to supporting our community and sustainably driving adoption of Chia globally. Over the next few days, we will introduce some pools that we believe will be the leaders of the industry.
We have not officially used any of these pools to verify the security or payouts, but we are confident that these teams will be at the forefront of the Chia Pool ecosystem.
To kick us off, I caught up with PoolChia for an introduction and overview of their pool.
Chia Decentral: Tell us about your team, your background, and experience in crypto?
PoolChia: Yes of course! The core founding team is a group of 7 from diverse backgrounds, including Amazon AWS, Private Medical Blockchain Development, Game Development, DevOps, Theoretical Physics and Anime Convention event managers. We all have one shared interest, which is of course is Chia and blockchain. All of us are dissatisfied in various ways with the current public blockchains and see that Chia has the potential to overtake BTC and ETH in both functionality and popularity. If you believe that, how could you not go all in! All of us are deeply involved in crypto, with experts in crypto financial market making as well as secure smart contract development.
Chia Decentral: How did you and your team find Chia?
PoolChia: Our main content creator, HumbleFarmer, introduced me to Chia back in December where I became an avid farmer by waking up at 7AM everyday to rush to my 10 laptops plotting Chia so I could plot 10TB a day.
When trying to scale I met Chen, another founding advisor, who helped teach us how to scale with Dell R820’s. From there, several of the other members came together through mutual friendships. All of us spend our free hours advising or creating for PoolChia or our other top secret Emergent Coin Projects coming out sooner than you think :-D
Chia Decentral: What motivated you to start a pool?
PoolChia: A big part of what attracted me to Chia was Bram/Hoff’s vision of a U.S. green crypto listed on the stock exchange. This showed two important items: Chia would be using what worked with ETH/BTC but better and the Chia team was looking long-term versus a pump and dump. These two items became the founding assumptions/beliefs of PoolChia and Emergent Coin. The trip to meeting the team in Miami and interactions since then with Chia.net team has only strengthened these core beliefs.
The first step to building upon this foundation is getting the retail farmer involved through pooling so they can get stable, fractional rewards and to continue strength the network. that is when things truly take off.
Personally, one of the reasons I think that XCH will overtake ETH, if not BTC as well, is that Chia is firmly entrenching itself in the Nakamoto Consensus, i.e. Proof of Work for BTC and PoST for Chia, to verify the blockchain versus some passive POS system. In my opinion, it is the miners/farmers that drive that foundational interest in coins. With that in mind, things like NFTs and decentralized exchanges can be achieved. I think it is a mistake for ETH to go POS. They have their reasons, but I think moving away from Nakamoto Consensus will only hurt their crypto and make ETH static.
Chia Decentral: What will be your differentiator and a reason for users to choose PoolChia.
PoolChia: Our pool is U.S. based and determined to operate within the confines of U.S. regulations and laws. If Chia is going to be U.S. based and operate within the rules, so should PoolChia. This is not to say that other markets are not important. Essentially, if you can make a crypto successful in the U.S. while following the law, you have a great foundation to do the same thing internationally.
Look forward to hearing more when we launch our production PoolChia onboarding process, with additional language and guidance for those pooling from the US and internationally!
Chia Decentral: Can you give us a breakdown on your payout structure, fees, community incentives and any other highlights that are worth mentioning.
PoolChia:
- We’re simple at first, for the first month PoolChia will be 0% fees and a .01 XCH payout threshold! After the first month, PoolChia will default the fees to 1% and add an additional slider to adjust your fee from 0% to 100% and the option to set your payout threshold. Fees and threshold are subject to change depending on market conditions.
- We’ve reached over 80k pre-registrations on PoolChia.com! Thank you all for your support. We’re now planning the 100k giveaway which will include swag, gear, and some other possibilities.
- Also, all of our members that use poolchia will start accruing rewards based on your fees paid to our pool. Stay tuned for more information as ChiaLisp documentation and the Chia blockchain matures. We’re going to make sure that these rewards are fun and worth it!
Chia Decentral: Any other plans, secret or otherwise for the Chia ecosystem you have in the works?
PoolChia: This is the big question! I wish I could give you answers but all our projects are top secret. All I can say is that Emergent Coin, Inc. (parent company of PoolChia) has a multiyear roadmap and investors aligned with a vision of a complete Chia ecosystem that is at least as developed as Ethereum’s. We’ve got some of the best smart contract devs on the market working for us.
Stay tuned, we will have our first big announcement in July with launch soon to follow. Follow us at https://twitter.com/poolchia_com and https://twitter.com/emergentcoin to stay tuned!
Chia Decentral: Any closing thoughts on the project, pools, the future of Chia?
PoolChia: I want to call out to the community that pooling is just the first step of Chia as a coin and as an ecosystem. Yes, it is a foundational step, but it is just a small one. What you should really be excited for is all the stuff that comes out next. With a baseline price of the high 200’s, Chia has a real chance to do well for every one of us involved early even if you missed that pre-launch boat. Strap in your seatbelts because we’re going to launch to the Mars!
Special thanks to the PoolChia team for kicking off this series!
You can find PoolChia at https://poolchia.com/, follow them on twitter https://twitter.com/poolchia_com and join their discord for the most up to date information https://discord.gg/nZxTCnrS.
Happy Farming!
