Tezos

Tezos is a blockchain-based cryptocurrency and a smart contracts platform for building decentralized applications (dApps). To accelerate innovation and reduce the likelihood of contentious splits, it can upgrade itself through an in-protocol amendment process without the need for a hard fork. Tezos’ native smart contract language, Michelson, facilitates formal verification, a methodology commonly used in mission-critical environments such as the aerospace, nuclear, and semiconductor industries.

LetzBake Tezon icon

Return of Stake, Fee and Insurance

ROS: ~6%
Fee: 9.9%

All rewards are insured, so you can trust to always receive your Tez on time!

We are full

Please do not delegate your Tez to us until further notice. All delegations made until cycle 238 are fully covered by LetzBake!

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

Your Rewards

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

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

Tezos FAQs

We recommend using Galleon wallet from Cryptonomic. At their website you’ll find good tutorials on how to create a Tezos account and how to delegate your Tez.

Your Tez 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!

Only download wallets from the original sources, and never from a random link on the Internet!
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, with a cycle being about 3 days. 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 Tez 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 gives us cause for concern. 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 Tez 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.

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.