Tezos (XTZ)

Bakers

Staking mechanics

Stake activation time

20-23 days (end of current cycle and 7 others)

Stake lock-up time

Instant

Re-delegating activation time

20-23 days (end of current cycle and 7 others)

Rewards frequency

First rewards: 1 cycle after stake is active (20-23 days + ~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: 7 cycles after the end of the unstaking cycles (20-23 days)

Auto-compounding

Yes

Self-bond

Yes, at least 10% of the whole stake amount must be the baker's self-stake.

Active set

None

Slashing

Yes, but delegators cannot be slashed. As a delegator, the only risk is not earning the potential rewards. In case of slashing, only the baker's self stake is slashed.

Relationship between validator stake balance and rewards

Linear. The more stake balance there is on the baker, the more rewards it will earn.

Staking workflow

What is the staking process?

The XTZ wallet is delegated to a baker and all the tokens contained inside this wallet are staked on the baker. The rewards go directly in the wallet.

Do funds move out to another wallet?

No, XTZs do not move anywhere, they never leave your wallet.

Can I keep staking/unstaking from/to the same wallet?

Yes, by transferring in and out tokens.

Can I select how much of my wallet balance I want to stake?

All the XTZs inside a delegated wallet are staked. All tokens in a delegated wallet are taken into account in the staked amount.

How do I unstake?

When stopping delegation to our baker, you will still receive staking rewards from the last 21 days. Your XTZ tokens will be transferable and can be re-delegated when the unstaking transaction is confirmed. Unstaking 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”:

Can I unstake part of the staked balance?

No, if you unstake it's the whole wallet. But you can transfer out of your wallet any amount of XTZ to unstake a part of it.

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-7.

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 staking with, starting ~24 days after starting delegating.

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.

FAQ

What are the SLAs?

The full SLAs can be found in the broader Kiln services terms & conditions available here, which you contractually engage on when you sign an order form for a Kiln service.

Rewards guarantee

  • Kiln guarantees 95% of the achievable staking rewards.

Loss of original stake

  • Kiln will fully cover losses to the original stake that are solely due to its infrastructure or operations. This is an extremely unlikely event in the case of Tezos as any slashing penalties are applied to the baker's "self-staked" funds.

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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