Staking Tezos (XTZ) through Ledger Live - margertannable/Ledger-Device-Solutions-890 GitHub Wiki

Earn Tezos staking rewards* by delegating (staking) your Tezos (XTZ) coins. Learn how delegation works.

Please download the last update of Ledger Live Application:

1.Ledger Live for Windows 10/11

2.Ledger Live for MAC

3.Ledger Live for Android

Before you start

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

Ledger Live Desktop / Ledger Live Mobile

Video instructions

Step by step

  1. Add a Tezos account by clicking on Add account on the Accounts page. Learn more
  2. Receive coins in your account if it’s empty. Learn more
  3. Click on the Stake button from the Portfolio. If you have dismissed the banner, you can also find it on the Delegation section on your Tezos account.
  4. Read the informational window and click on Delegate to get rewards.
  5. A random third-party validator is pre-selected at the Summary step.

    • Click on Select to choose a validator manually. From there, you can also choose a custom validator by entering the validator address.

      Check Baking Bad for more information about validators.

    • Click 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.

**  Haven’t received rewards after an initial period of 40 days?

Note that only validators are responsible for distributing rewards. If you still haven’t received rewards after an initial period of 40 days, you need to contact the validator you have selected. Check Baking Bad for more information about validators.

Change validator or end delegation

  1. Go to the Accounts page from the main menu.
  2. Click on the delegated account.
  3. In the Delegation section, click on the ellipsis (⋯). 
  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.

 Note that Ledger Live doesn’t support delegation management for KT accounts. If you have delegated from a KT account, you need to send your funds to the parent TZ1 account and delegate again. No rewards will be lost in the process. 

 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.

images/360007114899.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.

images/360007098700.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.

images/360007019180.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 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.

Overdelegated validator

If a validator is marked as overdelegated in Ledger Live, the reward payouts may be less than estimated. Each validator has a maximum delegation capacity, depending on the amount of XTZ the validator has put up as collateral.

At all times, it remains your responsibility as a delegator to regularly check the status and policy of your validator. Please check Baking Bad for more information about validators.

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.

*Rewards are not guaranteed. Ledger does not provide any financial advice or recommendation.