We are very happy that our customers have chosen to delegate over 1 million Ada through our staking platform on NBX.com We hope that we can contribute to the adoption of Cardano by having a Norwegian trading platform that offers staking with easy access without having to create a wallet and with automation of reports that can be used for tax reporting or other purposes. We do not exclude users who want to self-custody through their own wallets to our publicly available staking pool owned by NBX with ticker ANP. Our offering on our platform is meant as an additional way for our customers to stake and secure the Cardano protocol through delegation.
We are also proud that our Cardano staking solution was built from the start with consideration for the future development of Cardano. Our customers have individual staking keys when they stake Ada through our platform. This in turn allows us the capability to build in governance staking functionality in the future if we see this is something wanted by our customers.
Cardano staking on NBX will be 1 year on the 20th of October 2023. By then the change where the minimum fee for staking pools will be halved should be implemented as it has been recommended to be implemented the 23. August. NBX voted for this reduction because we believed it would be good for decentralization and good for our customers who stake Ada through our platform. It is also important since the rewards delegators got from the protocol have been gradually going down and reduced costs by staking pools will contribute to reducing this effect.
We plan to update our estimates for rewards in the future after these changes go into effect and we have gathered data on how this affects users delegation patterns such as if it increases the total staked Ada. We believe it is important to base estimates on historical data, but also on the changes being done in the protocol and by the protocol users. Finally, a reminder that because there are many variables NBX does not have control over for rewards by protocol to our users, the expected protocol rewards is always an estimate as explained in this article.
