Your reliable and secure Tezos baking service

Looking for an anonymous, reliable, and secure Tezos baking service? Then welcome to LetzBake! Join our community of crypto enthusiasts by delegating your Tezzies and earn profit from the most transparent payout structure available.

We are full!

Please do not delegate your Tezzies to us until further notice. All delegations
made until cycle 198 are fully covered by LetzBake!

Please read our over-delegation policy
in the FAQ section for further information.

Commitment to low fees

We have maintained a 0% fee between cycle 108 and 137, and since then our fee gradually increases in 2.5% steps after every 30 cycles with a maximum fee of 9.9%. Our fee currently is at a low 7.5% and will increase to 9.9% at cycle 228.

Profit from a reliable payout structure

Because we only charge low fees, you can start profiting from your investment right away. We automated the payout system and you get paid within 24 hours of every cycle. All rewards are insured, so you can trust to always receive your Tezzies on time.

Fully secure. All the time.

We employ best practices in cybersecurity to mitigate any risk of hacking or breaches as much as possible. Plus, with LetzBake! you only delegate baking rights, maintaining full control over your Tezzies at all times. That means that your Tezzies will never be at risk, even in the event of a breach.

About LetzBake!

LetzBake! is a professional Tezos baking service developed explicitly for the Tezos community. We are crypto enthusiasts who believe that staking protocols are the future of cryptocurrencies, given their low energy footprint and better scalability than proof-of-work currencies. We became interested in Tezos particularly because of its liquid proof-of-stake protocol in which everyone can participate. We want Tezos to thrive, and we aim to help secure the network by providing a professional, reliant and secure baking service for everyone.

Your Rewards

Insert your Tezos address below and get a summary of your staking rewards

Cycle Balance (XTZ) Reward (XTZ) Fee (%) Status

FAQs

Sure! Our fee structure is as follows:
  • 0% between cycle 108 and 137
  • 2.5% between cycle 138 and 167
  • 4.9% between cycle 168 and 197
  • 7.5% between cycle 198 and 227
  • Will then remain at 9.9% thereafter
LetzBake! is committed to full transparency, and delegators will always know when fees change and by how much before the change actually takes place.
Our goal is to be the most reliable baking service on the market. To achieve this, we want to prove it to delegators—risk free with our low fee. Of course, if you’re not satisfied with our service, you can simply delegate your Tezzies to another baker.
You can use your favorite wallet to set your delegate to our baker. Your Tezzies remain fully under your control at all times, and you can transfer them in and out of your wallet as you need to. Contact us with any questions you may have. We’re happy to help!
Based on the Tezos protocol’s current economic rules, newly made delegations take 7 cycles (~ 20 days) to start generating rewards. All rewards generated in a cycle are frozen for additional 5 cycles (~ 14 days). This means that first payments are made 12 cycles (~ 34 days) after you delegated to us. LetzBake! automatically pays out rewards within 24 hours of each cycle’s completion. If you’d like to change delegation services, you will receive all payments due for all cycles you had delegated to us.

Our payouts are powered by Tezos Reward Distributor!
Tezos Reward Distributor by habanoz
Yes! We've been the first baking service on the market that insures all rewards, with our insurer being Baking Bad Insurance.

The insurance covers both mistake and default and is paid out in the case node efficiency in a cycle is below 90% or if rewards are not paid out at all. In both cases all unpaid rewards will be paid from the insurance deposit directly to all delegators of the insured baker.

The service is currently manually managed by the Baking Bad team, but it will move on-chain and managed by a smart contract in the course of 2020.

Our insurance status is indicated by the Baking Bad badge at the bottom of this page, which is only awarded to bakers with an active insurance and is automatically withdrawn when the insurance is cancelled.

This means that you can trust to never lose rewards while delegating to LetzBake!
Due to the self-bond requirements specified in the Tezos protocol, we are restricted in the amount of Tezzies we can accept in delegations. To manage over-delegation, we will stop considering new delegations when our staking balance exceeds a certain threshold, which we communicate on several platforms. Please check our delegation status on this website before delegating to us.

Continued over-delegation has caused us some headache recently. Although on the one hand we highly appreciate that delegators choose us as their baker, on the other over-delegation incurs high costs, particularly due to the need to buy additional Tezzies at market price to cover bonds. Hence, over-delegation quickly drains financial reserves of bakers, which already caused some big bakers decide to cease operation.

We do not consider over-delegation as ill intention or selfishness, but rather as a result of a lack of awareness. Even though we exclude all delegations made after we announced over-delegation, affected delegators can still claim their rewards by simply contacting us. We keep, however, 50% of these rewards as compensation for the costs over-delegation incurs. Although this may seem to be high, it does not even cover a fraction of the costs of over-delegation.
One of the great aspects of Tezos is its on-chain governance feature that allows bakers to submit proposals, which can be voted on by other bakers after a three-month amendment period. A proposal that passes the promotion phase will be activated on the network without the need to hard-fork.

Before voting, we will thoroughly evaluate each proposal and will only vote in favor of those whose rationales are based on evidence and/or long-term observations. Evidence does not necessarily need to come from the Tezos ecosystem, but can also be derived from other well established crypto assets.

We are in this space for the long-term and thus prefer a slow, but solid development of Tezos when this ensures a stable and secure chain, in which everyone can trust for the years to come.
Yes! To help decentralizing the Tezos network, we maintain a secure public node to which you can point your favorite wallet. The node’s address is https://teznode.letzbake.com. At this website you’ll also find instructions on how to configure your wallet in order to use it with our public node.
We are located in Switzerland.