Farewell TezoSteam, welcome Staking Team!

3 min readMar 3, 2020

Dear delegates, are you enjoying your fresh tezzies, without any fees? If you paid attention you must be happy now.

For those who didn’t, long story short: we’re offering 0% fee for a limited amount of time; you can still join the party! Since yesterday, more precisely cycle 207, we aren’t charging any fees on our delegates. This is a farewell gift from TezoSteam to our beloved delegates, and a welcome gift from Staking Team — our brand new bakery!

In this post we’re going to give more details and context for our next steps, there are many exciting news we want to share.

TezoSteam is going private

Our current public delegation service, TezoSteam, is switching to private mode. We hope you’ll stay with us and delegate to our new bakery, as we’ll explain below. We are currently charging no fees and will do so for a total of 20 cycles (207–226); then we’ll set the final fee at 25% from cycle 227. As said above, the bakery must become private.

We want to give you enough time to join Staking Team, hopefully by cycle 227 (almost 8 weeks from now) all our delegates will have switched. Two months notice seems enough for all of you to take a quick and one-time action; the 0% fee period will help transition. In case you need help, you can ask us 24/7,as usual, on our telegram channel!

It’s amazing what we’ve accomplished with TezoSteam, it was a beautiful journey started with the very first Tezos cycles, and we can’t thank you enough — but it’s time to move on!

Staking Team is our new public bakery

We plan to activate Staking Team bakery on cycle 212 (5 cycles from today). We’ll charge no fee as a welcome gift; for how long? It depends.

We’ll start charging fees when one of these two conditions apply:

  • Cycle 227 starts (15 cycles from inception)
  • Staking Team reaches its delegations target, because of course we don’t want to be overdelegated!

After the promo Staking Team bakery will charge a 10% fee. It is a noticeable reduction from our previous 14% fee, more in line with current market; and we have plans to further reduce it for loyal delegates.

So be sure to join Staking Team from day1! You’ll be able to maximize the 0% promotion and kick off our new adventure. The 0% promotion will make the transition smooth for all of you anyway, gives plenty of time. Feel free to spread the word among your friends!

Roadmap recap by cycle:

Keep in mind cycle 207 started yesterday; approximate dates of next key cycles are: 212 -March 16th; 227-April 30th.

Ok but…..

As we explained, we’ll require you to take action in a couple of weeks. Rest assured that it will go smooth, a lot of reminders are set for you during the migration period. Moreover our team stays the same (plus some additions), same support as always, you can count on us for any assistance needed — you know where to find us 24/7. And we’re even more bullish on Tezos and actively supportive of its awesome ecosystem (more news on that soon).

Our new bakery is much needed for various reasons; you’ll get to know our plans later, and rest assured it will involve plenty of exciting news and opportunities.

If you liked TezoSteam, you’ll love Staking Team!

Yours truly ❤