Staking Facilities’ Tezos Bakery is closing down

Staking Facilities is shutting down its’ Tezos Bakery

Tezos, we had a blast! Unfortunately, though, all good things must come to an end and October 15th, 2021 will mark the last day of our Tezos Bakery — we are shutting it down for good. In this post, we’d like to share a few details with the community and, first and foremost, our dear Tezos delegators.

We have been involved in the Tezos ecosystem ever since Genesis and look back at an amazing time. However, as some of you might have noticed, we weren’t able to vote in the past few months due to legal reasons (please refer to this post by StakeNow for more context). Furthermore, we had to make a strategic decision as we are currently restructuring and streamlining our focus and resources towards other projects that we are involved in. For these reasons, we had to make a tough call and decided to shut down our Tezos Bakery by October 15th, 2021 — by that time we will stop paying out rewards for any cycles that follow! In order for you not to miss out on any rewards, we kindly ask you to change your delegation no later than September 24th, 2021!

We kindly ask all of our current delegators to switch to a different baker as soon as possible, so that a continuous flow of rewards can be achieved. If you’re not sure which baker to delegate to, the folks over at Tezos-Nodes got you covered with this ranking of different Tezos bakers. Please note that once you changed your delegation, it will take around 12 cycles (~ 35 days) until you receive rewards from your new baker — until then, you’ll continue to receive rewards from us.

Changing your delegation is a straightforward process. Depending on which UI or wallet you are using, simply head over to the ‘staking’ tab — in the case of the Galleon wallet, head over to the ‘Delegate’ tab — and paste in the address of your new baker, sign the transaction and you’re done! You can find each bakers’ address on Tezos — Nodes.

In case you have any further questions or need assistance, always feel free to reach out to us via email or Telegram!

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