Tezos (XTZ)
Bakers
Ledger Live by Kiln
Ledger Enterprise by Kiln
Staking mechanics
Stake activation time
~11 days (end of current cycle and 4 others)
Instant
Stake lock-up time
For delegators: Instant
4 cycles (~11 days)
Re-delegating activation time
~11 days (end of current cycle and 4 others)
4 cycles (~11 days)
Rewards frequency
First rewards: 1 cycle after stake is active (~11days + ~2.83 days). Note: for many other validators (not Kiln's one), the first rewards would be received 6 cycles after stake is active (~37 days) because they froze rewards during 5 cycles. Rewards frequency: at the end of every cycle (~2.83 days). Last rewards: 4 cycles after the end of the unstaking cycles (~11 days)
First rewards: Immediate at the end of the current cycle (0-2.83 days)
Rewards frequency: at the end of every cycle (~2.83 days)
Last rewards: Rewards stop immediately after unstaking.
Auto-compounding
Yes
Yes
Self-bond
The total staked amount must be 10% of the total Balance (total delegated + total staked) Ex: 5M XTZ of total staked amount can allow a Balance of up to 50M XTZ, which means delegators can delegate up to 45M XTZ (50-5).
The Baker must self-stake 25% of the total staked amount. Ex: If a Baker self-stakes 1M XTZ, then its stakers can contribute to the staked amount up to 4M XTZ. This means that the total stake amount is 5M XTZ.
Active set
None
None
Slashing
No, as a delegator, the only risk is not earning the potential rewards. In the case of slashing, only the staked amount is slashed.
Yes, if the Baker double bakes, Stakers could lose up to 10% of their stake. In the context a double endorse, it's 50%. It's worth noting that such events are extremely rare on Tezos.
Relationship between validator stake balance and rewards
Linear. The more stake balance there is on the baker, the more rewards it will earn.
Linear. The more stake balance there is on the baker, the more rewards it will earn.
Staking workflow
Staking is not yet available in the Kiln Dashboard, only delegating is.
What is the staking process?
The Tezos wallet is delegated to a baker and all the tokens contained inside this wallet are on that baker. The rewards go directly in the wallet.
The Tezos wallet is locked in the protocol, and your XTZ tokens are actively participating in consensus. The rewards will be paid directly to your wallet, and they come from protocol-level incentives.
Do funds move out to another wallet?
No, XTZs do not move anywhere, they never leave your wallet.
No, XTZs do not move anywhere, they never leave your wallet.
Can I keep staking/unstaking from/to the same wallet?
Yes, for both staking and delegating, you can add and remove tokens by transferring in or out of your wallet.
Yes, for both staking and delegating, you can add and remove tokens by transferring in or out of your wallet.
Can I select how much of my wallet balance I want to stake?
All the XTZs inside a delegated wallet are staked/delegated. All tokens in a staked/delegated wallet are taken into account in the staked/delegated amount.
All the XTZs inside a delegated wallet are staked/delegated. All tokens in a staked/delegated wallet are taken into account in the staked/delegated amount.
How do I undelegate/unstake?
When stopping delegation to our baker, you will still receive staking rewards from the last 11 days. Your XTZ tokens will be transferable and can be re-delegated when the unstaking transaction is confirmed. Undelegating is not implemented in this dashboard, however you can unstake from your wallet:
From Ledger Live
In your Tezos Account in Ledger Live, click on the 3-dots menu on the right, then “End delegation”:
From Templewallet
You can only delegate to another baker from Templewallet. To do so, go to your Tezos subsection, then in the “Delegate” tab, click on “Re-Delegate”:
When unstaking to our baker, you will stop receiving rewards immediately. Your XTZ tokens will be transferable 4 cycles later (~11 days). Unstaking is not implemented in this dashboard, however you can unstake from your wallet. Removing stake is done with the ‘unstake’ command in Octez, or via your wallet’s user interface.
Can I unstake/undelegate part of the staked balance?
No, if you unstake/undelegate, it's for the whole wallet. However, you can transfer out of your wallet any amount of XTZ to unstake a part of it.
Yes, you can unstake part or all of your staked funds.
How is my balance computed at cycle N for the rewards distribution?
The balance computed at cycle N for the rewards distribution is the balance at the beginning of cycle N-4.
The balance computed at cycle N for the rewards distribution is the balance at the beginning of cycle N.
How is commission paid?
We use the TRD software to distribute Tezos baking rewards. Rewards are redistributed every on-chain cycle (~2.8 days) to the same XTZ address you are delegating with.
Rewards are paid and commissions are taken natively at the protocol level. Rewards are redistributed every on-chain cycle (~2.8 days) to the same XTZ address you are staking with.
How do I monitor my rewards?
You can monitor your rewards by going to the Tezos explorer page of your Delegating Account address or directly from your wallet.
You can monitor your rewards by going to the Tezos explorer page of your Delegating Account address or directly from your wallet.
Adaptative Issuance
You way see the Delegating/Staking APR fluctuate over time when monitoring your positions or looking on an explorer.
This is due to the Adaptive Issuance mechanism that lets the network automatically find the “Goldilocks” level for staking rewards – just enough for a desired level of economic security, but not higher than that, so as to minimize dilution.
The rate adjusts based on the share of tez (out of the total supply) that is staked, with a target of about 50%. If the staked share goes below 48%, rewards increase to incentivize more funds being staked. If it goes above 52%, rewards are reduced to avoid issuing more tez than is required for network security.
Those looking to explore the mechanism further can check out our Adaptive Issuance Simulator, which lets you test various scenarios to see the rewards rate as well as estimated rewards for a given baker.
Performance
The performance of Kiln's bakers can be seen on the TzStats explorer:
In particular the sidebar shows the lifetime performance:
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