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What is staking?
Staking is a process that allows cryptocurrency holders to deposit their crypto assets in a designated wallet (smart contract) for the governance and security of a blockchain network. By delegating to the validating nodes that Smartlink operates, the bearer is paid directly by the protocol in cryptocurrencies.
Staking is similar to a savings account in a traditional bank, except that you keep ownership of your assets.
Why delegate to Smartlink?
The amount of rewards varies according to the protocol.
Retain ownership of your assets
When you delegate your crypto assets, you do not share your private key with a third party, which allows you to retain ownership and be able to manage your funds at your will.
Participate in network security
When you participate in staking, you contribute to the security and decentralization of the Blockchain network. The higher the percentage of staked assets in the network, the harder it is to attack it.
By delegating to Smartlink, you align with our values and ultimate goal to develop the Tezos ecosystem.
How to delegate and receive rewards?
You can stake your tezos tokens using your wallet or ledger device. The process is simple and requires you to delegate your staking rights to our address. You’re always in control of your private keys.
Frequently Asked Questions
Tezos is a Blockchain platform for building decentralized applications. It was officially launched in September 2018 and today competes with leading blockchain networks, such as Ethereum. Tezos is based on a consensus called Liquid proof-of-stake, under which a holder of Tez remains the owner of his XTZ even after the delegation of his voting or baking rights to a baker. What is the name of the cryptocurrency associated with this blockchain? The associated cryptocurrency is called the “Tez” and is represented by the acronym XTZ.
Staking is the activity of participating in securing a Proof of Stake (PoS) blockchain in exchange for rewards in the form of crypto-currencies.
In the Tezos ecosystem, “miners” are called “bakers,” and the process of adding blocks to the blockchain is called “baking.”
Yes! You can try to deploy a network node yourself or delegate your voting rights to us. Note that in order to manage your own node, you need to be comfortable with the technology and be prepared to spend significant sums on equipment and maintenance, as well as a commitment to operate a node officially.
You are not giving up ownership of your XTZs by delegating them. You are only delegating your “Baking” rights. As a validator, Smartlink will never have the opportunity to touch your funds.
We receive 5% on the rewards received by our delegates. For example, if a delegator receives 100 XTZ as a reward, Smartlink will receive 5 XTZ while the delegate will receive 95 XTZ. We offer one of the lowest fees for proven validators.
The Reward due as a result of the Baking is calculated by the Tezos Blockchain protocol and allocated directly by protocol to the Delegator and the Baker on the basis of a distribution key fixed between the two. Delegator rewards never pass through the Baker, minimizing any security risks.
You will need to wait for 7 cycles (roughly 21 days) after delegating your rights for your first rewards to arrive.
After waiting for the initialization delay, you will receive the following rewards each cycle (approximately 3 days).
Delegated XTZs are not locked and remain available to you while allowing you to earn rewards. You can transfer your funds at any time.
For all tax and accounting questions, do not hesitate to contact a specialist accountant.
From the blog
Smartlink Monthly Report — September 2021
Introducing Vortex 🌀: Next-Gen AMM Built on Tezos
Interview with Ben Constanty, CEO of Smartlink
Staking Rewards sat down with Ben Constanty, CEO at Smartlink to discuss the latest developments, news, and upcoming launches from Smartlink.
Want to join the Smartlink community?
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