Tezzigator - a proven delegator with years of delegation experience in blockchain NOW with professional BizDev


#1

See website https://www.tezzigator.com for more info.

As a trusted figure who already has over 3 years experience running a stake delegation system in the NXT cryptocurreny, another 100% PoS cryptocurrency, I would like to announce I will bring the same reliable and secure service to Tezos.

I am the same forkedchain from the NXT cryptourrency community, and am pleased to announce that I plan to have operational by genesis block, a delegation service with full accounting system for Tezos that will offer the same reliable service and accounting system that I have run the past 3 years for NXT, where I currently forge 7% of all NXT blocks, and have 15M NXT in my pool from a large number of happy users.

Hopefully we will be ready by Tezos genesis block. Fortunately for all of us most of my work is already done, thanks to my coding efforts in the NXT and Ardor projects, I can reuse most of that existing working code - mainly I just need to port the RPC/API calls over to Tezos. So assuming by genesis those RPC/API calls are available in the Tezos code, we will be ready as well!

The delegation will be fully automated for Tezos just as it has been for NXT, automated pay calculations, automated payouts upon blockchain notification of a Tezos message, and Ill also be adding stats on lifetime payouts per account! You will absolutely love how simple and seemless this will be for you.

This will be a SECURE and TRANSPARENT system. I emphasize this as due to the way Tezzigator will work, and since everything is public on the blockchain anyways, you will interact with the sytstem completely anonymously, no accounts needed! Tezzigator will operate exclusively on the blockchain only, and never use any other data source, keeping you secure and private. For complete transparency, all data on everyone’s delegation stake and earnings will be made available for everyone to check to ensure there is complete transparency and accuracy.

Here is my NXT pool accounts info from a NXT block explorer, and you can view the pool stats itself here.

And with NXT’s announcement of Ardor, I have even ported my system to the new Ardor cryptocurrency. Ardor is still not yet released and is in testnet, and I have my system running on their testnet at http://theardorpool.dynu.net/Status so I hope this gives you a glimpse as to my experience and capability.

I hope to quickly and justfully gain the trust of the Tezos community just as I have for NXT, and will be proud to share out proportionally in fees and nondilutionary inflation that my Tezos pool service will gain.

I now have a website up with a good amount of information on baking/staking/delegation, and also has a whitepaper describing the architecture that I will build. https://www.tezzigator.com
Enjoy!


#2

Awesome news @forkedchain. Excited to hear about your offering. Maybe something simple like TezPool? The future is bright!


#3

I will kepp in touch incase if I would need your service on baking


#4

I am a newbie to these terms: baking, staking, though i have tried to follow up with discussions to understand. I need to get full info on this issue of “delegation”, i mean step by step of how and what to do in terms safe and trustworthy delegation service. Any help will be appreciated.


#5

Thanks for the question. “Baking” is running a node capable of generating blocks. “Staking” is putting up a bond of some X number of tezzies to lock them into a baking node for a fixed amount of time (currently rumored to be 90 days).

You would “delegate” your staking power by putting up a bond with the ability of some other account to use it for staking instead of your account. This would be a local operation you do with your private key, and will be a feature built into the Tezos client, whenever it goes live. Right now in alphanet it is a manual CLI process. As there is no official client now, there are no instructions - it will be made clear when the system goes live.

Hope this helps.


#6

Yeah, getting some bits of it. X number of tezzies you said? Does that mean in practice, sending such number of tezzies to you for such period of say 90days as one sends btc to a wallet or is there other thing amounting to the said number of tezzies to be sent in place of actual tezzies? If its actual tezzies to be sent, were there no risks involved, like token theft by such delegate? I want to understand the guaranteeing mechanism in place to actualize return of such staked number of tezzies+ & -fee at the end of the staking period.


#7

The stake you delegate isnt the actual tezzies. You just lock your tezzies up in a bond that you can bake/stake with, or that you can delegate to someone else. After the bond expires you can then spend them or put up another bond, etc.

as far as returns, it will depend on fees in blocks, how much total XTZ bond the pool has, etc.

The actual security bond for my delegation duties is the real bond that is up for risk here. I must do this as a delegator, you constituents do not need to worry about this, let Tezzigator handle it for you. With delegation, YOUR stake is never at risk, my delegation bond is. This is one of the benefits of delegation - not only do you not have to maintain a node 24x7x365, but your stake is also never at risk.


#8

And how to lock up my tezzies in a bond will be clear and simple to me as a newbie or do i still need technical assistance?


#9

For now, just wait - when the client goes live we will know more. I do not expect it will be that difficult a procedure to do. Hope you now understand it a bit more though


#10

All,
I now have a website up with a good amount of information on baking/staking/delegation, and also has a whitepaper describing the architecture that I will build. https://www.tezzigator.com/
Enjoy!


#11

@forkedchain, till then, thanks a lot


#12

Hi all, Ive made some updates to the whitepaper section, theres a good bit more info there now that describes how things will work. Hopefully everyone will like their “swiss numbered accounts”


#13

Can you specify your fees?


#14

I read on your site: “Delegation is only for block generation (and voting).” You do not mention signing, which is another way of participating (and making more tezzies).
Beautiful site, by the way.


#15

As it sits now I’m looking at very low fees, around the order of 0.2% - 0.5% but I should note that our constituents will be responsible for paying for transactions fees/gas for payouts. But don’t worry - you won’t actually have to do anything yourself here; when you request a payout, before we send your payment, the Tezos transaction fee is deducted from that.

Thanks for the compliment! I think I will update to include the signing as well. Of course my constituents will make gains off that also.


#16

Is it 0.2% - 0.5% of the newly “minted”, or “baked” tezzies at the end of a cycle or 0.2% - 0.5% of the cumulative holding within same period? Just asking


#17

Thanks for the question - that 0.2% - 0.5% figure is applied to earnings Tezzigator gains from generating/signing/validating blocks. The 0.2% - 0.5% fee is applied and taken by Tezzigator, then the rest is split between constituents based on their percentage contributed to the aggregate.

Also, Tezzigator will ensure that constituents ALWAYS get non-dilutionary inflation. Currently, it remians to be seen on how non-dilutionary inflation payments work in the presence of delegation. It may work out that those earnings get paid by network consesus directly to the delegator, and not to constituents. BUT IF THAT IS THE CASE, DONT WORRY, like I just said “Tezzigator will ensure that constituents ALWAYS get non-dilutionary inflation”. If the network consensus model does not pay out non-dilutionary inflation directly to constituents, Tezzigator will treat those as earnings as well, and will also pay those out to constituents, proportionally (after the 0.2% - 0.5% fee).

I think that last part will be a big differentiator on how different delegator operations work. Some delegation systems may not give members this payment, and/or may hide the fact they are keeping gains at your expense by using a model unlike bitcoin mining pools, which what my model essentially is. So verify EVERYTHING with whoever you choose - you will want to make sure you are not missing out on nondilutionary inflation and are not giving up unknown/hidden earnings!

Essentially, whenever Tezzigator earns, YOU earn. I believe this and my experience in this space will be my differentiatior. Then on any earnings made by Tezzigator on your behalf, there is a very small fee taken before splitting the rest proportionally. Be wary of someone running a free operation - if you see this, its indicative of more of a “hobbyist” than a professional.


#18

Forum Member 1000! Tezzigator Delegation gives congratulations to Forums member brodly on taking the forums to 1000 active members! You will get a prize of 10 XTZ from my personal account! Worth approx $22 as of today’s futures trading; who knows what it’ll be by genesis!


#19

A quick update - As you may know from my post in the “introductions” thread, I am a MSCS grad student a Georgia Tech. This makes me eligible for a TON of resources they have for tech startups, including biz dev and a host of other fantastic resources. GATech seems pretty committed to this space, and I have been given a dedicated resource to work with me in this endeavor.

I’m also pleased to announce that I will be able to support a very sizeable bond to support millions and millions of XTZ baking power! Remember, as the delegator, Tezzigator posts up the bond; your stake is NEVER at risk.

Just a bit of good news that I thought I’d share - I’m looking forward to contributing great things to the Tezos blockchain!


#20

Awesome news! As a fellow Yellow Jacket, I know you are a hell of an engineer! Keep cranking.