Explain Like I'm Five, Tezos, Staking No loss of rewards, change a baker!

<blockquote><em><em>Enjoy a second post in our comic-strip <a href="https://economy.p2p.org/category/Eli5/">style Eli5 series</a> covering loss of rewards, stopping baking and redelegation in Tezos blockchain.</em></em></blockquote><p>Arthur is having dinner with Kate, a colleague from work. They get on very well and talk about a lot of things about themselves. They discover they both have the same opinion about banks - they are crypto-enthusiasts.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/1.jpg" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/1.jpg 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/1.jpg 1000w, https://economy.p2p.org/content/images/2020/09/1.jpg 1280w" sizes="(min-width: 720px) 720px"></figure><p>Arthur and Kate share their experiences with PoS tokens. They both love Tezos as an up-and-coming network.</p><p>Arthur: Who is your delegator? I have been with P2P Validator since 2018. I love their intuitive dashboard - I can see my rewards and rewards history at a glance.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/2-1.jpg" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/2-1.jpg 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/2-1.jpg 1000w, https://economy.p2p.org/content/images/2020/09/2-1.jpg 1280w" sizes="(min-width: 720px) 720px"></figure><p>Kate: Oh, I really struggle to find out my rewards. My delegator is terrible at keeping me in the loop. I discovered they didn’t pay my rewards on time or in full. It’s a real headache.</p><p>A: Be carefull, maybe in future they may not pay at all. Why not change? It's really simple.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/3-1.jpg" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/3-1.jpg 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/3-1.jpg 1000w, https://economy.p2p.org/content/images/2020/09/3-1.jpg 1280w" sizes="(min-width: 720px) 720px"></figure><p>K: Won't I lose my rewards while I’m redelegating?</p><p>A: No, your rewards from your old baker must be paid to you in full even when you stop baking completely. If you redelegate, your new baker will start to pay your rewards automatically when they are due.</p><p>K: That sounds great! How do I get started?</p><p>A: It’s easy, just follow these simple steps:</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/4-1.jpg" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/4-1.jpg 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/4-1.jpg 1000w, https://economy.p2p.org/content/images/2020/09/4-1.jpg 1280w" sizes="(min-width: 720px) 720px"></figure><p>step 1: Open your wallet and select your delegating account</p><p>step 2: Press Delegate than Update delegate buttons</p><p>step 3: Confirm with Ledger and enter P2P Validator address, finally Confirm once more.</p><p>K: Do you recommend that I choose P2P Validator?</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/5-8.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/5-8.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/5-8.png 1000w, https://economy.p2p.org/content/images/2020/09/5-8.png 1280w" sizes="(min-width: 720px) 720px"></figure><p>A: Absolutely. They are extremely efficient, have a great track record and only charge a fair validator fee.</p><p>K: You’ve sold them to me. How about coming up for a cup of coffee and help me to do it now.</p><p>A: This will be the beginning of a beautiful relationship!</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/6-5.png" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/6-5.png 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/6-5.png 1000w, https://economy.p2p.org/content/images/2020/09/6-5.png 1280w" sizes="(min-width: 720px) 720px"></figure><p><em><em>In our next story you will learn about Proof-of-Stake (POS) and staking. Let us know what you think and make suggestions for topics you would like us to cover.</em></em></p><p><em><em>Let’s stake together!</em></em></p><p><strong><strong>Website:</strong></strong> <a href="https://p2p.org/?utm_source=Tezos1post&amp;utm_medium=creds_link&amp;utm_campaign=blog">p2p.org</a></p><p><strong><strong>Stake XTZ with us:</strong></strong> <a href="https://p2p.org/tezos">p2p.org/tezos</a></p><p><strong><strong>Twitter:</strong></strong> <a href="http://twitter.com/p2pvalidator">twitter.com/p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong> <a href="http://t.me/p2porg">t.me/p2porg</a></p>

Alex Michailow

from p2p validator

Explain Like I'm Five, Tezos, Staking When do I start receiving Tezos rewards?

<blockquote><em><em>Enjoy our first light-weight post of <a href="https://economy.p2p.org/category/Eli5/">Eli5 series</a> covering a reward distribution in Tezos blockchain in the form of comic-strip style story.</em></em></blockquote><p>John has some Tezos tokens and wants to receive rewards. He takes them to a baker*, P2P Validator.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/1-1.jpg" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/1-1.jpg 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/1-1.jpg 1000w, https://economy.p2p.org/content/images/2020/09/1-1.jpg 1280w" sizes="(min-width: 720px) 720px"></figure><p>John makes an agreement to delegate his tokens to P2P Validator and becomes a delegator.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/2-2.jpg" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/2-2.jpg 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/2-2.jpg 1000w, https://economy.p2p.org/content/images/2020/09/2-2.jpg 1280w" sizes="(min-width: 720px) 720px"></figure><p>The tokens remain in John’s wallet, but the staking balance of P2P Validator increases.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/3-2.jpg" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/3-2.jpg 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/3-2.jpg 1000w, https://economy.p2p.org/content/images/2020/09/3-2.jpg 1280w" sizes="(min-width: 720px) 720px"></figure><p>P2P Validator bakes John’s tokens for 7 cycles (typically 21 days).</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/4-2.jpg" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/4-2.jpg 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/4-2.jpg 1000w, https://economy.p2p.org/content/images/2020/09/4-2.jpg 1280w" sizes="(min-width: 720px) 720px"></figure><p>After 7 cycles John can see on P2P Dashboard by how much his tokens have grown.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/5.jpg" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/5.jpg 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/5.jpg 1000w, https://economy.p2p.org/content/images/2020/09/5.jpg 1280w" sizes="(min-width: 720px) 720px"></figure><p>It worked! John started getting rewards on his delegator address as soon the 7th cycle was completed (typically 21-23 day). The delegating process continues afresh and compounds automatically, so John’s reward tokens work with his original stake to increase his rewards in the next cycle.</p><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/6.jpg" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/6.jpg 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/6.jpg 1000w, https://economy.p2p.org/content/images/2020/09/6.jpg 1280w" sizes="(min-width: 720px) 720px"></figure><p>P2P Validator receives 9.95% validator fee and uses it to pay for:</p><ul><li>server time &amp; running costs</li><li>building better infrastructure</li><li>24/7 technical support</li></ul><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/7.jpg" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/7.jpg 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/7.jpg 1000w, https://economy.p2p.org/content/images/2020/09/7.jpg 1280w" sizes="(min-width: 720px) 720px"></figure><p>P2P Validator is part of a tezos network, which is a decentralised one. There are many validators (bakers) in the network and each one makes their own decision on what fees to charge. If a fee is too low there is a risk to the baking process. We believe in charging a fair fee for a good service. Choose P2P Validator and get:</p><ul><li>First reward 40% faster</li><li>Efficiency 101.18%</li><li>Payout accuracity AAA+</li><li>Baking Bad rewards insurance</li></ul><figure class="kg-card kg-image-card"><img src="https://economy.p2p.org/content/images/2020/09/8.jpg" class="kg-image" alt srcset="https://economy.p2p.org/content/images/size/w600/2020/09/8.jpg 600w, https://economy.p2p.org/content/images/size/w1000/2020/09/8.jpg 1000w, https://economy.p2p.org/content/images/2020/09/8.jpg 1280w" sizes="(min-width: 720px) 720px"></figure><p>In our next story you will learn how to redelegate (change a baker) and how to stop the delegation.</p><p>Let’s stake together!</p><p><strong><strong>Website:</strong></strong> <a href="https://p2p.org/?utm_source=Tezos1post&amp;utm_medium=creds_link&amp;utm_campaign=blog">p2p.org</a></p><p><strong><strong>Stake XTZ with us:</strong></strong> <a href="https://p2p.org/tezos">p2p.org/tezos</a></p><p><strong><strong>Twitter:</strong></strong> <a href="http://twitter.com/p2pvalidator">twitter.com/p2pvalidator</a></p><p><strong><strong>Telegram:</strong></strong> <a href="http://t.me/p2porg">t.me/p2porg</a></p>

Paul P

from p2p validator