Tezos delegation insurance for your staking rewards distribution

Summary of the Tezos Staking Rewards auditor dashboard, Baking reward notification with telegram bot and Delegation isurance by Baking Bad

Dmitry   Follow

It has been several months since we launched a Tezos Staking Rewards auditor dashboard, and the time has come for a short summary and future plans.

# Where are we now

# Tezos delegator dashboard

Enter the KT-address and get information about all payments from all bakers whose services you have ever used.

Baking Bad Service

For all public Tezos bakers, we know the default payment scheme, but it often happens that for some clients or groups of clients special conditions apply.

To take this into account, we have provided an interface in which you can configure a number of parameters for a specific cycle/group of cycles. You can set Tezos baker’s fee, payout delay, payout frequency, what type of tezos staking rewards does the baker pay, whether or not baker charges transaction fees etc.
In the extreme case, you can manually arrange transactions with payments, but this happens quite rarely.

Soon we will handle situations when payments arrive at a different address than the delegation one (for example, if you use Ledger). We will also handle cases when your baker compensates downtime, node errors, or missing/double baking.

# Tezos notification bot

For those who want to keep up to date, we have created a telegram bot that notifies you of yourTezos baker’s accrued staking rewards, payments, and debts. You can subscribe to multiple KT or TZ addresses, adjust notifications, debt tolerance, and baker options.

# More than a staking rewards auditor

From the very start of Tezos Mainnet and the Bakery market, there were many cases of fraud, unpaid staking rewards and shut down delegation services. Despite this, we very much respect the entire contribution of honest bakers to the development of the ecosystem of Tezos, and happy to be a part of it.

We asked ourselves: can we act not only as an auditor of delegate payouts but as a kind of “guarantor” of payments? Yes, we definitely can try to!

Today we are pleased to introduce Baking Bad Delegation Insurance!

Delegation Insurance

# Payout guarantee

In our experience, the choice of delegate mainly depends on the service fee, reputation, efficiency of the Tezos node. But all this does not matter in the case of unfair behavior in the future.

So imagine that all your future payments are insured by an independent third party. Will it be a significant factor? We believe so!

You will receive insurance indemnity in the following cases:

  • Tezos baker stops paying (regular payouts were not received);
  • The efficiency of the node per cycle is less than 90%. In this case, Baking Bad pays the missing staking reward (based on the efficiency of 90%);

It should be noted that baker insurance coverage is a dynamic value depending on the amount of delegated Tezos coins. We will take this value into account when calculating the rating of insured bakers.

# Insurance deposit

At the moment Baking Bad Insurance supports payment schemes that satisfy the following conditions:

  • payouts occur every Tezos cycle;
  • payment delay is in the range from 1 to 6 cycles.

We consider this scheme the most common and transparent among bakers.

The size of the deposit amount is calculated so that in case of default all lost profits of delegators are compensated:

If we take staking balance that is maximum allowed for the current security deposit (bond) we get 100% insurance coverage. Otherwise, coverage is partial.

# No ads

Our intention is to keep Baking Bad independent, so we are categorically against any kind of advertising of Tezos delegation services on our site. Instead of this, we offer bakers to pay not for ads but for the guarantee of payments for their clients. We consider this a compromise that will allow us to stay operating.

# What’s next

Delegation insurance is a concept we want to test in the real market. We believe it can help small bakers to compete, which may lead to the Tezos blockchain decentralization improvement.

Visit sure.baking-bad.org, try our calculator, and find out the insurance cost. Contact us in any convenient way and become one of the first insured bakers!