Our staking infrastructure at Figment Networks is built from the ground up with security and reliability in mind. We have a strict set of Standard Operating Procedures that we follow and perform regular audits of our technology stack and facilities.
We take security seriously so you can delegate with ease and peace of mind.
Beyond Tezos, we also provide access to a growing portfolio of new and groundbreaking digital assets. We perform the research and due diligence to ensure the quality and sustainability of the underlying assets, and to continually build the right infrastructure that makes participating in these assets simple.
Your XTZ is safe and never leaves your account. When you delegate your XTZ, they are never actually transferred from your account to ours. We have no control over them nor your private keys. To further clarify, we only deposit and bond our own XTZ and so your XTZ is never exposed to slashing risks.
The safety of your XTZ and delegation is our top priority. Rest assured that your tokens are safe with us. Our commitment to security:
As a company, we strive for transparency and openness. You keep 85% of all rewards that are earned for your delegation. We keep 15% to cover our operational costs and security deposit risks to ensure that we can keep investing in our technology and team to provide the best in class service to our delegators.
Here is the formula for calculating your reward:
(Baking Rewards + Endorsement Rewards + Block Fees) *
(Your Delegation / Total Staked Balance) * 85%
As a note, our payouts are dynamic meaning when the rewards are higher, we return the higher rewards to you. Some delegation services may provide a static payout meaning there is a cap to your rewards received. We believe this practice to be unfair to our delegators.
The Tezos protocol prepares delegates for staking 7 cycles in advance (with each cycle being approximately 3 days). The delegates receive rewards 5 cycles after the staking cycle. As a result, 13 cycles must pass prior to receiving rewards. This is not controlled by us but by the protocol itself. We will pass on the rewards to our delegators before the next cycle from receiving the rewards.
We have automated the process of reward distribution to ensure accuracy and timeliness of reward distributions. This will also help us scale our operations as we grow.
We will show all past and projected future activity including delegation totals, reward amounts, and payouts including operation hash of the payout. You can click the operation hash to go to tzscan to see the transaction.
Here are the steps to check your reward status:
We operate on a first come, first served basis for receiving delegations. If we become over delegated, we will no longer accept new delegations until someone leaves our delegation or our capacity is increased. Having said this, we are running our staking process as a trusted enterprise business meaning we are both raising and generating new capital to grow our staking operations. This in addition to our growing liquid cash reserve means that we don’t anticipate an extended period of over delegation.
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