Earn Tezos staking rewards

Earn Tezos staking rewards by delegating your Tezos account to a validator in Ledger Live. By staking your Tezos account, you can send and receive your coins anytime while still benefiting from the security of your Ledger hardware wallet. Learn how delegation works 

 

Before you start

  • Set up Ledger Live with your Ledger device.
  • Check that your Ledger device runs the latest firmware.
  • Install the latest version (2.2.5) of the Tezos Wallet app on your Ledger device.

 

Step by step

  1. Add a Tezos account by tapping on the + icon in the Accounts tab. Learn more
  2. Receive coins in your account if it's empty. Learn more
  3. Tap on the Earn rewards button on the Tezos account page.

    LLM_staking_banner.PNG
  4. Read the informational popup and Tap on Delegate to earn rewards.

    LLM_staking_info.PNG
  5. A random third-party validator is pre-selected at the Summary step.

    LLM_staking_summary.PNG
    • Tap on the name or icon of the selected validator to change it. From there, you can also add a custom validator by entering the validator address.

        Check MyTezosBaker for more information about validators.

      LLM_select_validator.PNG
    • Tap on Continue in the Summary step. 
        Note that delegating your Tezos voting rights does not guarantee you will be paid any reward by your validator.
  6. Verify all delegation details on your Ledger device.
    • Connect and unlock your Ledger device. Open the Tezos Wallet app.
    • Verify that all operation details are correct. If it's a custom validator, carefully verify that the validator address (Delegate) is exactly as provided by the validator.
    • Press both buttons to Accept the delegation or choose Reject to cancel.
  7. The delegation operation is signed and broadcasted to the network for confirmation. You should start receiving your first rewards after an initial period of about 40 days.

 

Change validator or end delegation

  1. Go to the Accounts tab.
  2. Tap on the delegated account.
  3. In the Delegation section, tap on View details.
  4. Choose Change validator or End delegation. The Summary page will then appear, where you can either change the validator or end the delegation.
  5. Changing validator or ending the delegation will require a new delegation operation to be verified and approved on your Ledger device.

LLM_delegation_view_more.PNG   Delegation_options.PNG

 

  What happens to staking rewards when changing validator?

When changing validator, there should normally not be a loss of staking rewards, if the validators both payout normally. Let's imagine changing from validator A to validator B. An initial waiting period of about 40 days starts until validator B should start paying rewards. During this time, validator A should continue paying rewards because validator A started paying rewards with an initial delay of about 40 days too.

 

More about Tezos and staking

Delegation and reveal operations

Reveal

The reveal operation makes the public address of a new Tezos account known to the Tezos network. This operation is required before any other transaction is possible and costs 0.0025 XTZ. Ledger Live automatically creates the reveal operation when you first send or delegate from an account.

revealed.png

Delegation

The delegation grants an account's voting rights to a third-party validator, also known as a delegate. The voting rights increase the probability that a validator can make new blocks. Validators bake new blocks and endorses blocks as part of its operations and earns rewards by doing so.

delegated.png

Undelegation

The undelegation returns the voting rights to the account itself. This operation is similar to the delegation operation except that the To field is empty.

undelegated.png

Sending and receiving with delegated accounts

Delegated accounts can send and receive normally like any other account.

  • Received coins are added to the account balance. Because the account is delegated, the additional coins are automatically being staked as long as the validator has sufficient delegation capacity.
  • Sent coins are deducted from the account balance. The amount that has been sent is no longer being staked.
Migrating from third-party wallets

If you've used TezBox or Galleon wallet with your Ledger device, please note the following:

  • Ledger Live lists KT accounts as subaccounts. Ledger Live does not support sending to KT accounts, nor creating new KT accounts because of the Babylon Amendment. Sending from your KT accounts is supported.
  • In order to send to KT accounts, a third-party wallet needs to be used.
  • Parent accounts (TZ addresses) pay for fees of subaccounts (KT addresses) and must therefore always have some remaining XTZ. If there is insufficient balance left to pay for subaccount transactions, please find another way to refill the parent account.
Sending to new accounts burns fees

Sending XTZ to a new Tezos account will incur a cost of 0.257 XTZ in burnt fees for the account to be created. This is similar to the reveal operation, but the sender pays the fees.

 

Known issues

  • If you broadcast two transactions in a row, the second may fail and you will have to try again. 
  • A bug may occur in the number of confirmations displayed in the transaction details window, showing an excessively high confirmation number.
Was this article helpful?
10 out of 11 found this helpful