No loss of rewards, change a baker!

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Enjoy a second post in our comic-strip style Eli5 series covering loss of rewards, stopping baking and redelegation in Tezos blockchain.

Arthur is having dinner with Kate, a colleague from work. They get on very well and talk about a lot of things about themselves. They discover they both have the same opinion about banks - they are crypto-enthusiasts.

Arthur and Kate share their experiences with PoS tokens. They both love Tezos as an up-and-coming network.

Arthur: Who is your delegator? I have been with P2P Validator since 2018. I love their intuitive dashboard - I can see my rewards and rewards history at a glance.

Kate: Oh, I really struggle to find out my rewards. My delegator is terrible at keeping me in the loop. I discovered they didn’t pay my rewards on time or in full. It’s a real headache.

A: Be carefull, maybe in future they may not pay at all. Why not change? It's really simple.

K: Won't I lose my rewards while I’m redelegating?

A: No, your rewards from your old baker must be paid to you in full even when you stop baking completely. If you redelegate, your new baker will start to pay your rewards automatically when they are due.

K: That sounds great! How do I get started?

A: It’s easy, just follow these simple steps:

step 1: Open your wallet and select your delegating account

step 2: Press Delegate than Update delegate buttons

step 3: Confirm with Ledger and enter P2P Validator address, finally Confirm once more.

K: Do you recommend that I choose P2P Validator?

A: Absolutely. They are extremely efficient, have a great track record and only charge a fair validator fee.

K: You’ve sold them to me. How about coming up for a cup of coffee and help me to do it now.

A: This will be the beginning of a beautiful relationship!

In our next story you will learn about Proof-of-Stake (POS) and staking. Let us know what you think and make suggestions for topics you would like us to cover.

Let’s stake together!


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