Tezos (XTZ)

What is Tezos

Tezos is a blockchain platform that supports smart contracts and dapps, based on the idea of a digital commonwealth, in which governance is democratized in an efficient and sustainable manner to avoid costly hard-fork scenarios.

Proof of Stake

You can earn rewards from the blockchain by staking to a baker. Rewards from the blockchain will be sent to the baker and will be distributed to each user from the baker.

Staking

The wallet’s entire balance will be staked to a baker (validator), and rewards are automatically distributed according to the amount held in the wallet (you must meet the minimum of 1 XTZ). There is no function to stake a partial amount in your wallet. In addition, you can send and receive tokens in your wallet anytime, while staking to a baker (There is no lock period).

Rewards

The reward will be distributed after 7 cycles after staking to Baker, and will be distributed every 1 cycle thereafter. Since 1 cycle takes about 3 days, there will be no rewards for a while after staking to Baker (this is due to the 7 cycle (21 days) lag in awarding the profits). Since rewards are automatically distributed from the baker, there is no need to “claim rewards”.

Unstaking

You can send and receive tokens freely while staking. There is no lock period, no restriction to send and receive, you do not need to unstake.