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 2 million XTZ  (200 Rolls) in total!

HOW MUCH WILL I MAKE?

Our fee is 9.5%You will receive a return of 90.5% of all rewards linked to your stake. The remaining 9.5% is to cover our operating costs and invested back in our infrastructure and activities.

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 12 cycles (36 days) of delegation.

We are different: We pay you immediately after the rewards are baked for a given cycle, 15 days earlier than almost all the other bakers.

Tezos OTC schedule is to pay out delegation awards every cycle.  So we anticipate a schedule like the following:

  • Cycle 0 – you delegate to Tezos OTC
  • Cycle 7 – The Tezos Blockchain assigns your delegation rights to us and we can start baking for you.
  • Cycle 8 – Rewards for Cycle 7 are received by Tezos OTC and forwarded to your KT 1 account (15 days earlier than almost all the other bakers)

( Cycles are approx 2.8 days each)

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!