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Stake Tezos with Kiln, enterprise-grade staking
Tezos
What is Tezos?
Tezos is a layer 1 blockchain protocol used for making transactions and building applications. It is governed by Tezos holders that can vote on upgrades and changes to the network. Holders of Tezos (XTZ) use their assets to vote on changes to the system in a way that protects users and the ecosystem against unnecessary forking. While Tezos can be compared to its predecessor Ethereum, there are various aspects, like governance and transaction speed, in which Tezos holds a clear advantage.
How is Tezos delegated Proof-of-Stake implemented?
In the Tezos ecosystem, validators, known as bakers, stake their tokens to secure the network and process blocks of data uploaded to the chain. This is done through a Proof-of-Stake (PoS) consensus mechanism which is far cheaper than Bitcoin’s Proof-of-Work, and comparably cheaper to other PoS systems. The Tezos network allows any holder of XTZ to stake Tezos and validate blocks. This, along with the cost of staking, brings down the difficulty of getting involved making it an ideal network for those starting out in staking. Baking on Tezos is the signing and addition of blocks to the chain after agreement is reached by the network of nodes. XTZ holders can also choose to delegate their assets to a baker to make rewards from a larger pool of staked coins.
Bakers on the Tezos network can be delegated a stake in the network through the network’s delegated-Proof-of-Stake (dPoS) mechanism. Using what is called a manager key (a form of private key used on Tezos), bakers can manage delegated tokens for staking and governance within the network. Delegators then receive rewards according to their delegated stake, minus a validator fee that is taken by the delegated baker.
Why should you stake your assets?
Staking generates rewards for validators in a safe and predictable way. The crypto space considers it as a natural and beneficial feature to a protocol as the value originates from the blockchain native currency inflation. By staking XTZ tokens, you help secure the network and earn rewards in the process.
If you do not stake, your assets will be eroded from protocol inflation.
You can stake XTZ as well as other PoS cryptocurrencies to:
- 1Put your treasury at work
- 2Diversify and earn
- 3Bring new opportunities by enabling your users to earn staking rewards
How to stake Tezos with Kiln?
Staking Tezos with Kiln is simple. Though there is no minimum amount required for staking XTZ, the entire XTZ amount in the wallet has to be delegated. Plus there is a transaction fee that comes with delegating to a baker. Staking with Kiln can be done in a few easy steps:
- Login to the Kiln dashboard
- Initial Stake by selecting your account and the amount of XTZ (plus the transaction fee)
- Connect your wallet: Kukai, Ledger, Exodus, …Kiln supports multiple wallets as well as WalletConnect
- Delegate Stake
- Rewards are made every 30 seconds but are frozen for two weeks before appearing in your wallet.
Tezos has an immediate unstaking process and all you have to do to return your XTZ. As soon as you choose to unstake your tokens on Kiln they will be reflected in your wallet shortly after.
The Kiln delegator address can be found here.
Detailed information about Kiln validators can be found here.
What are the rewards associated with staking XTZ?
As an incentive for helping to safeguard the network, you can earn up to 6.16% GRR* from each validator you stake on Kiln.
(source: https://protocolstaking.info/)
Why should you stake your XTZ with Kiln?
Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake XTZ, and to whitelabel Tezos staking functionality into their offering. Our platform is API-first and enables fully automated validators, rewards, data and commission management.
- Stake XTZ in 1 click
- Manage all your XTZ stakes and rewards from a single dashboard
- Non-custodial, work with your existing custodians solutions e.g.Fireblocks
- SOC 2 Type II certified and Industry leading SLAs (0 penalties recorded and 99.95% effective uptime)
Protocol Card
Token
XTZ
GRR
5-10%
Number of live validators
440
Consensus
dPos
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