Delegate FAQ

WHY SHOULD I DELEGATE TO TEZOS OTC?

We are listed as an official exchange and Baker on TzScan and have been actively trading OTC since the first day of Betanet (June 20th 2018).

We have built a reputation of trust within the Tezos community having completed thousands of direct trades, so you can trust us to pay your rewards on time, without fail!

We are the only baker you can speak to directly to via Telegram or Live chat and are happy to answer any questions you may have.

IS THERE A MINIMUM I HAVE TO DELEGATE?

Yes, you must delegate a minimum of 1,000 XTZ to use our service! Please note if you delegate less than this you won’t receive any rewards!

HOW DO I SELECT TEZOS OTC AS MY DELEGATE?

Your XTZs are stored in a wallet, and you need to designate Tezos OTC as your delegate.  Most wallets have a delegation key feature, where you just need to enter our delegate key:

tz1SkU5S3dDRi6f8LHCvYeK3H3Mjq4MS8uHW

https://tzscan.io/tz1SkU5S3dDRi6f8LHCvYeK3H3Mjq4MS8uHW

Please check our Staking Balance on tzscan.io before you delegate to make sure there is enough spare capacity. We currently have room for 3 million XTZ  (300 Rolls) in total!

HOW MUCH WILL I MAKE?

Our fee is 30%You will receive a return of 70% of all rewards linked to your stake.

This is a fixed payment instead of dynamic and we will pay rewards as soon as the snapshot has been taken! This is 36 days (12 cycles) in advance and before any other baker. We will assume the risk of any burnt blocks or missed endorsements and pay you for the snapshot rewards that are still to be baked, minus our 30% fee.

WHEN WILL I GET PAID?

It takes 7 cycles for the Tezos Blockchain to assign your delegation rights and another 5 cycles for the network to unfreeze the baked rewards. Therefore bakers typically pay you earliest after 36 days (12 cycles) of delegation.

We are different

We pay your rewards as soon as snapshot is taken of your delegation rights this is 36 days (12 cycles) before your rewards are delivered to us!

WHY WOULD I PAY A 30% FEE?

We are offering effectively a 36 days (12 cycles) advance loan payment on your rewards, we are taking the risk should anything happen during that time and the rewards are not able to be baked or endorsed.

This fixed model will not suit most,  however we feel that it will suit delegates that want more flexibility and will benefit from having the rewards in advance and not having to wait 36 days (12 cycles) and are happy to pay a higher fee for this service.

For example this may suit someone that is planning to trade their XTZ, they may not want the inconvenience of waiting 36 days (12 cycles) for their rewards and prefer the flexibility to pay a higher fee upfront and receive their rewards in advance. It may also suit people that want to see how delegation reward system works and happy to pay a higher fee to have rewards within a week or less rather than over a month!

ARE MY TEZZIES SAFE?

Yes.  As delegator, you are simply assigning your baking rights to Tezos OTC.  You are not giving us your XTZs and are not providing your private keys.

NEVER PROVIDE ANYONE YOUR PRIVATE KEY!

OVER DELEGATION

If we become over-delegated, we will apply the first-come first-serve principle and stop accepting new delegates, but will increase bonds to cover existing delegates as and when needed! So please feel free to add more XTZ to your existing delegate address anytime!