About stake.fish Baker
Tezos is a platform for smart contracts and decentralized applications that offers a formal governance process. This is why we call it the “self-amending” blockchain since stakeholders can vote on how to evolve Tezos. We will contribute to the Tezos community by providing a robust baker and our knowledge accumulated from other PoS mechanisms.
Frequently Asked Questions
Here are answers to some of the questions our community members have asked us. Don’t hesitate to reach out to us if you still have additional questions.
Tezos is a platform for smart contracts and decentralized applications that offers a formal governance process. It has officially launched mid-September 2018. To learn more, please take a read through their whitepaper.
New blocks on Tezos are created by bakers. Bakers typically have technical capabilities to put together a secure infrastructure that will be online 24/7 so that Tezos runs seamlessly.
Not everyone is able to do this, and so they can participate indirectly by delegating the tokens they have to a validator. In a sense, validators are running a service for delegators. Delegators would typically charge a fee to cover their operational costs.
Once you delegate XTZs, you are helping secure the network. For assisting in this, you get part of the rewards provided by the protocol. If you are planning to hold on to XTZs for some time, delegating will help you accumulate more XTZs while contributing to the network.
You are not giving away ownership of XTZs by delegating. We will never have the ability to move your XTZs as a validator.
The Tezos protocol penalizes any bakers that double-bakes or double-endorses. This slashing only applies to the baker’s self-bond amount. Additionally, reward payouts are not conducted in protocol, so there is a risk that our off-chain distribution methods encounter a bug. Our own reputation, time, and efforts are on the line, so we are fully incentivized to do our best to prevent such events. However, delegators must be aware of these risks when they delegate.
We charge 8% on the XTZ rewards that we distribute to our delegators. For example, if a delegator is estimated to get 100 XTZ in rewards, stake.fish will charge 8 XTZ while the delegator will get 94 XTZ. We offer one of the lowest fees of the strong proven validators.
The amount of delegation our baker can receive is determined by how much XTZ we bond on our baker. Delegated amounts above the limit will not contribute to the power of the baker. We will look to constantly increase our self-bond as delegations increase so that anyone can enjoy earning yields for helping secure Tezos.
Rewards collected by validators are locked for 5 cycles (approximately 14 days). Tezos does not offer an in-protocol reward distribution mechanism. We will receive all the rewards initially, but will proceed to distribute these according to each delegators’ stake.
If you have any questions about staking or our validator services, please do not hesitate to reach out to us. We are happy to talk with anyone and help navigate community members through this exciting new ecosystem.Get In Touch