Each baking operation in the Tezos network has a maximum delegation capacity. While owners are still able to delegate Tezos to any baker they wish, the rewards will only be paid up to the number of tokens the baker has enough deposits for. Please check the bar below to see where Airfoil’s capacity stands. If you delegate to this address when it is full, no rewards will be accrued. If you have a large holding that you are interested in delegating, please contact us directly and we will walk through the process and options.
Cycles represent the main unit of measurement in the Tezos protocol. Almost all operations revolve around these cycles. Within each cycle, there are 4096 blocks, and each block time is approximately 60 seconds. This means that a cycle comes out to just under 3 days.
During each cycle, there are 16 snapshots taken of the entire blockchain. One of these snapshots (chosen at random) will be use to determine rewards for the baking/ endorsement revenue in 7 cycles. After those blocks are baked and endorsed, the rewards are unlocked after 5 more cycles.
This means rewards are available for distribution either 12 or 13 cycles from the initial delegation, depending on which snapshot was used.
Our team has build a custom hardware assembly to handle nothing but Tezos baking. The machines are new, top of the line, and do nothing but bake and endorse blocks for the Tezos network. We also use hardware-based HSMs (hardware security modules) to sign all of our bakings. Using hardware HSMs dramatically lowers the attack surface for hackers.
Since every baker is public, it is important to make sure we are protected from the wild west attacks of the open web. We use multiple front-facing nodes to protect our baker from any type of distributed attack. Along with software based defenses, our baker is also physically locked down with multiple layers of authentication needed to even get in the same room as the hardware. Even in that room, the hardware is 100% encrypted to military standards.
External delegates receive their portion of the rewards as soon as they are unlocked. All rewards are distributed only to the address that they were delegated from. We use only vetted, open-source software for rewards distribution. If for any reason the Airfoil Bakery is slashed (our deposits are lost) our firm bears 100% responsibility for this and all delegate Tezos remain untouched.
One of the most beautiful things about blockchains is that they are freely viewable to the public. Anyone can view our baker’s page on the Tezos block explorer here. This page is not maintained, or even editable by Airfoil. We want all of our stakeholders to see what we are doing out in the open. Along with this openness in baking, our firm actually believes in Tezos! We have invested time, resources and capital into building this baking operation, so we have skin in the game just like you.
Unlike some of the baking operations out there, Airfoil is a venture-backed company with an army of advisors, investors, lawyers and friends. We’re in it for the long haul, and you can count on us for transparency and honesty in the operation of this bakery.
Since you are delegating your Tezos, they never leave your wallet, you are just assigning the rights to bake / endorse, not to spend.
Rewards are distributed as soon as they are unlocked and verified.
Yes. Please contact us if you would like to delegate a large amount of Tezos and we will increase our deposit.
Baking Bad is an organization that monitors all Tezos bakers for honesty in payouts. They scan the entire block chain and spot when a baker withholds rewards due to a delegate. In the extremely far-fetched case that Airfoil misses a rewards payment, Baking Bad will automatically make that payment on our behalf. Airfoil has never missed a payment, but we work with Baking Bad just in case of something like a network failure or natural disaster.
Our process for voting on new amendments is based on years of experience investing in, and working with blockchains. It’s our goal to vote in a way that is most advantageous for the whole of the network, and to strive for stability and longevity. We welcome any input from delegates about specific proposals, just drop us a note and tell us what you think about the upcoming vote
We have no plans to raise our baking fees. It is our belief that as the market matures, the average fee for Tezos baking will come down, we’re just getting there early.