Updated Delegation Qualification
August 15th, 2021
TLDR: We are updating our delegation qualification rules effective immediately, starting cycle 397. Please take note of this announcement to assess how this impacts you and your delegation.
Hello, fellow Tezos fans! Crypto laws evolve and so must we!
Crypto rules in the US are changing quickly. At CryptoDelegate, we always strive to operate in full compliance with the most recent regulations. Still, crypto laws are often vague and subject to interpretation. As a result, we have been advised to err on the side of caution and take our delegation service private.
Effective immediately (cycle 396) we are ceasing to offer our service to the general public with less than 10k delegated XTZ. We are still huge Tezos fans, and we will continue our baking operation as long as possible under very specific rules and guidelines.
Previously we offered a self-serve payment system by logging in to app.CryptoDelegate.com. Because of new regulatory developments, we were advised to disable this feature as well as review and update our policies.*
What happens next?
To receive your outstanding rewards up to, and including cycle 396, please send an email to [email protected] with your delegated tz1 and/or KT1 address. We will promptly review your account and send you your final accrued rewards.
How to join our private service?
Starting cycle 397, we will still be accepting delegations that meet ALL of the criteria below. Any delegations that do not meet these criteria will not earn past cycle 396. If you already meet all of these criteria, then you do not need to take any action, you will continue to earn.
We apologize for this inconvenience. We advise everyone in the US to call or write your elected officials to tell them how important it is that the US continues to encourage a robust Blockchain ecosystem.
*All policies, rules, and qualifications are subject to change without notice. Minimum reward payment = 1 xtz. Awards will accrue until the minimum payment threshold is met. See website for full terms and conditions. The Crypto landscape changes fast and so must we
Paying Before Baking!
Today we announce big news! We will PAY you your full cycle delegation fee BEFORE the blocks are even baked. No longer do you have to wait three weeks for your delegation to activate and another 3 weeks to get paid. Once you delegation becomes recorded in the cycle snapshot, your account will get credited for the entire cycle BEFORE the blocks are even baked.
This means you can get paid for a full cycle as fast as 2 days after delegating your Tez. This is 40 days faster than our competition who wait for 20 days simply to activate your delegation and another 20 days to pay
This video shows you how to get your CryptoDelegate login password and how to use your CryptoDelegate profile. You can use either your tz1 or KT1 account to get your password.
Pricing More Details
This post has moved to its own pricing page.
TIP: Write EVERYTHING down on paper as you are going through the process. Seed words, passwords, activation codes...everything. NEVER clear your browser cookies without first making 100% sure that you have all of your wallet information written down and you have tested that you can restore your wallet using that information.
How to Activate your ICO Tezzies
**This is not advertising or endorsement of any wallet. We are not legally able to endorse any wallet. Use this information at your own risk.**
Unfortunately we had to make these instructions very generic due to legal liability with giving instructions about specific wallets even if we do not specifically endorse those wallets.
Generic Wallet Instructions: (Be careful what wallet you trust)
First, you need to download and install whatever wallet you choose, whether it be desktop, phone, or chrome extension.
There will likely be an option for importing ICO Wallet or restoring wallet. Input the details of your ICO contribution and the information the Foundation sent you. This includes Seed Words, Email, Password, and activation code. This will create an account that starts with "tz1..." You should see the number of Tez that aligns with your ICO expectations. You can not delegate with this "tz1..." account. You then need to create a "KT1..." account and transfer your Tez into this account. From that account you can assign your Delegate.
**Again, be very careful what wallet you choose. Like the foundation warned, there will be a LOT of phishing attempts to steal your hard earned Tez. Be Careful! **
Please proceed to the next blog post to learn how to Delegate to CryptoDelegate
Please see our Pricing Page for the current Promotional Pricing
Tezos Stake Rental Fees & Estimated Potential Earnings:
We currently estimate that payments to you will be approximately 5% annual growth. (see below for details)
At CryptoDelegate, we pay our users a rental fee to rent your unused Tezos baking stake. This is the same concept as a farmer renting your unused farmland to grow crops. You can also think of it as a Baker renting your unused oven to bake bread. You are the Tezos stake landlord, we rent from you. Sit back and let us do the work.
Our non-promotional current goal is to achieve this approximate rental payment milestone:
"Actual Tezos Blockchain Inflation % minus 10%"
If the total Tezos Blockchain actual baking annual inflation is 100% optimized at 5.51%, this would equate to CryptoDelegate having the goal to pay you an estimated rental fee of approximately 5% annual growth on your delegated Tezos Stake.
This goal may or may not be achieved due to unforeseen variables, but this goal is what we strive for. By using this payment method, CryptoDelegate is able to dramatically increase your earning stability and predictability. This method of calculation makes our client's rate of return much more stable since it relies much less on daily baking fluctuations.
Another way to look at it is: Payout % = Global Inflation Rate * (9/10)
Please Note: Once we get to the point where the amount of delegated Tez exceeds our ability to host bonds, we can no longer accept new customers. You may not earn anything if you have delegated to us too late and our bond is insufficient to cover your delegation. You will then be placed into a waitlist until either our bond increases or someone else leaves our delegation service.
CryptoDelegate Name Update
Stay tuned for more information regarding the upcoming Tezos Betanet launch.
MyCryptoDelegate.com = CryptoDelegate.com
Slightly Different Name
Why change our name? We had the domain sitting around and it simply sounds better.
Please Note: CryptoDelegate.com and CryptoDelegate LLC is not a crypto token exchange. We do not provide any method of purchasing, selling, or trading any type of blockchain coins or tokens. We also do not give any financial advice or recommendations. Invest in crypto currencies at your own risk. Our payment system is on a closed loop. This means we do not have any means of receiving or transferring tokens from a client to a third party or visa versa. Payments can only be sent to the original delegator. We do not store crypto tokens on behalf of our customers. Any tokens that we generate and hold in our hardware wallets are property of CryptoDelegate. Token ownership transfer happens immediately upon the Tez tokens being sent and received from CryptoDelegate to the client. If you wish to transmit crypto-tokens to a third party, you must send directly from your personal wallet or use some other method.