We are at the forefront of PoS blockchain research. We work with carefully selected networks and help them launch and operate seamlessly. Our technical input has been vital in adding value to blockchains such as Solana, Cosmos and Ethereum.
The Chorus One infrastructure and surrounding processes are highly specialized to guarantee reliable and fault tolerant operation of our nodes as well as safekeeping of associated cryptographic key material.
Both institutional and retail investors trust our staking services. Our engineers work around the clock to ensure your stake is safe. Moreover, we safeguard all investments with our delegator protection pool of $250k, refreshed each quarter.
We keep our community updated through regular posts, engaging podcast episodes, and in-depth research articles. We provide 24x7 support to our delegators via Telegram, email and chat.
If you are creating a new wallet then follow the onscreen instructions.
Select the wallet type (Mainnet)
Enter the wallet name of your choice
Enter the word length (24 is preferable)
Enter a derived key password
Enter a storage password
There you go! You have your Tezos wallet.
2. Select a bakery
Press Wallets, select Tezos and press Delegate.
Search for Chorus One in that list,
Set the amount you want to delegate
Verify the To and From addresses,
Select the default fee option and
Upon the successful completion of your transaction, you will see the success message as below
Congratulations now you are baking your XTZ!!
After you click “Delegate”, the corresponding operation is sent to the blockchain and your delegation status becomes “Pending”. You can check that everything went well in Tezos explorer.
Understanding delegation status
As you can see, your delegation is not applied immediately right after delegating. You need to wait a while before it’s confirmed. There are three stages of delegation:
This stage lasts 2 cycles = ~ 6 Days
1 cycle = 8192 blocks = 4096 minutes (each block every ~30 seconds) = ~2.8 days
In this stage you’ve successfully delegated, but your rights are not transferred to the baker yet. This delay is required to prevent the network from some forms of abuse. See more details in the Tezos documentation.
This stage lasts 5 cycles = ~ 14 Days
Your delegation is confirmed and the baker received future baking rights (to produce and endorse future blocks). So, now you know that you will definitely participate in Tezos staking in the near future and therefore you can estimate future staking rewards.
Now you are completely in Tezos staking and earning rewards. As you can see, you have to wait ~20 days after delegating to start staking.
Receiving Tezos staking reward payments
All Tezos staking rewards are credited to the baker and not to delegators directly. Moreover, every time baker receives rewards, those rewards are frozen for the next 5 cycles (~14 days), so the baker can’t spend them. Only after ~14 days rewards are unfrozen and the baker can transfer it to someone else.
That’s why you can see that Tezos staking rewards for cycle N usually comes in cycle N + 6 (after ~17 days):
What happens if you add or withdraw funds?
Every time the balance of a delegated account is changed (e.g. you raise additional funds, or withdraw funds, or even receive reward payments) you have to wait the same time as described above (37 or 23 days) until these changes are applied.
On March 1st 2021, we announced that we would be acquiring and operating Cryptium’s Tezos baker and their validator nodes on NEAR, Polkadot, and Kusama. This deal enabled the former Cryptium Labs team to focus on their new project Anoma, a private, asset-agnostic bartering network, while allowing their delegators to keep earning staking rewards with a reputable staking provider. Shortly after, we also agreed to take over Figment’s baker to help them focus on their DataHub and Learn projects on Tezos and to allow Figment’s former delegators to continue earning XTZ staking rewards. The acquisition of the Cryptium and Figment bakers mark our first entry into the Tezos ecosystem.
Tezos needs no introduction, it is a self-amending blockchain that launched as one of the world’s first Proof-of-Stake networks in 2018, establishing one of the first ecosystems of node operators. Tezos differentiates itself from other chains through a sophisticated on-chain governance mechanism and formal verification of smart contracts.
Why we’re joining Tezos
Amongst other things, Tezos was the first blockchain that introduced ‘Liquid Staking’. Somewhat ahead of its time, before Decentralised Finance (DeFi) had garnered adoption, delegators on Tezos were and are still now able to earn rewards whilst having the option to undelegate at any time and transfer their assets elsewhere (in comparison to most networks where an ‘unbonding’ period is necessary to undelegate assets). This also allows tokens in smart contracts (e.g. collateral in Kolibri, a Maker-esque stablecoin system on Tezos) to be delegated and earn staking rewards simultaneously! Tezos is no foreigner to introducing blockchain concepts ahead of its time, on-chain governance and an automated upgrade schedule were also foreign concepts until Tezos introduced these. Tezos has established itself time and time again as a secure network with the potential to be one of the most resilient and adaptable Proof-of-Stake networks. Given its reliability, it is no wonder that Tezos is chosen continuously by financial institutions for it’s fork-averseness, staking economics and finance-friendly smart contracts. We see great potential for the future of Tezos and we are glad to finally have the opportunity to run a validating node on this vibrant network.
Tezos Network Activity
There are 1,419,320 accounts using Tezos. The 1D transaction average over the past 30D is ~100,000 transactions per day (which is ~365,000,000 transactions per year annualised) and contract calls on Tezos are growing ~120% MoM (since May 2020).
Network activity on Tezos is impressive to say the least. We are glad to be supporting a thriving network that has seen sustained growth since its inception. We are looking forward to actively participating in Tezos governance to foster ecosystem development in the future.
Tezos Edo 2.0 and Florence Upgrade
Tezos has had two upgrades in the past three months, namingly Edo 2.0 and Florence. Edo 2.0 targeted the application layer of Tezos by introducing privacy-preserving smart contracts, more composable smart contracts using ‘tickets’ that represent values in relation to addresses (similar to derivatives) and an ‘adoption’ period to create a longer time-buffer between when voting ends for an upgrade and when it is executed on-chain. The Florence upgrade doubled the maximum operation size of smart contracts), optimised gas and changed intra-contract calling to a depth first execution model, all of which enable developers to develop more complex smart contracts with higher certainty the smart contracts will behave as expected.