It’s Staker’s World, We’re Just Living in it.
Bonjour Paris! Staking is Now Live on Tezos
Welcome to this week’s edition of the Baking Sheet, Tezos community! Grab your favorite coffee, because we have some transformative updates brewing for you. This week, we're diving into a landmark change in the Tezos staking model—the first significant update since 2018—thanks to Tezos's continuous upgrades. Plus, we’ll explore exciting developments in Tezos gaming. Let’s kick things off with the introduction of Adaptive Issuance, a feature that’s about to reshape how we stake on Tezos.
Adaptive Issuance Refresher
Adaptive Issuance is designed to automatically adjust the rate of new tez issuance based on the total amount of tez staked. This ensures that only the necessary amount of tez is emitted to secure the network, minimizing inefficiencies and reducing dilution. The mechanism adjusts rewards based on a target staking ratio, increasing rewards to encourage more staking when the ratio is low and decreasing rewards when the ratio is high.
Key Features of Adaptive Issuance
Target Staking Ratio: The system targets 50% of the total tez supply to be staked, enhancing network security while maintaining liquidity.
Staker Role: Introduces a new staker role, allowing funds to be staked without transferring custody to bakers. Staked funds are frozen and subject to slashing, directly contributing to network security.
Progressive Min-Max Rate: Initially, the issuance rate is kept within a narrow range (4.5% to 5.5%) and gradually widens over six months to span from 0.25% to 10%, ensuring a smooth transition.
Adaptive Slashing: Differentiates between accidental errors and deliberate attacks, with penalties proportional to the degree of misconduct.
Manual Staking: All staking is handled manually to ensure precise control over funds.
Why It Matters
Adaptive Issuance significantly lowers the opportunity cost of undelegated tez, making Tezos more attractive for real-world applications such as DeFi, lending markets, and rollups. By targeting a 50% staking ratio, the network becomes more secure and resilient, with a streamlined approach to rewards distribution.
How to Start Staking on Tezos
Choose a Baker: First, select a baker to stake with. Ensure they are open to external stakes and that their fee and policies are acceptable to you. You can check a baker’s capacity and status on tzkt.io.
Delegate Your Account: Use the ‘set delegate’ command in Octez or your wallet’s interface to delegate your account to your chosen baker.
Add Stake: Add your stake using the ‘stake’ command in Octez or your wallet’s interface. The funds will remain in your account but will be frozen by the protocol. You will start receiving rewards after adding stake.
Remove Stake: To remove your stake, use the ‘unstake’ command. The unstaked funds will remain frozen for 4 cycles (~11 days) before you can unfreeze them with the ‘finalize unstake’ command.
Staking funds are subject to slashing if the baker misbehaves, so choose your baker carefully. Overstaking can result in reduced rewards, so always check the baker’s capacity and status on tzkt.io. Also check out Nomadic Lab’s in-depth guide on how to start staking.
For more detailed instructions on how to start staking, visit stake.tezos.com.
Insights from Arthur Breitman
Arthur Breitman, co-founder of Tezos, has shared some valuable insights on X about the new staking model and its impact on the ecosystem:
On the New Staking Model: "If you haven't been paying attention, in just a few hours, the #Tezos staking model which had largely mostly untouched since 2018 will change!"
On Delegation vs. Staking: "While delegation isn't going away, users will now be able to stake their tez with bakers, without giving up custody. Staking will typically be more attractive than delegating."
On Network Security: "This should increase the number of tez at stake, increasing the network's security and resiliency."
On Issuance Adjustments: "The protocol can dynamically adjust 'issuance', the creation of new coins by stakers, to the lowest amount necessary to incentivize a sufficient stake."
On Composability: "Reducing the opportunity cost of not delegating means tez can more readily be used in defi applications on Tezos. It also means tez works better as gas in Smart Rollups and can be more easily bridged onto other ecosystems."
Adaptive Issuance embodies the Tezos ethos of constant evolution and adaptation, strengthening Tezos capabilities. We are excited to work closely with the Tezos community to continue improving and innovating.
Reminder for Bakers and Node Operators
As you're getting an influx of users staking to your baker, ensure that you upgrade to Octez v20.1. Nomadic Labs has found and fixed a critical bug in Smart Rollups. While there is no impact on Tezos mainnet and Etherlink's security – your assets are safe – the bug affects withdrawals from Etherlink to Tezos Layer 1 and needs urgent action.
This issue has been fixed in ParisC, a bugfix protocol that is included in Octez v20.1 as a user-activated upgrade at block #5,898,241 – expected on June 25. We highly recommend all Tezos bakers and node operators to upgrade immediately to Octez v20.1 to ensure a smooth UAU activation on June 25.
Don't hesitate to reach out to us if you need help upgrading. More information can be found on the Tezos Agora forum.
Tez/Dev Contest: Deadline Extended to June 22nd!
Following the exciting launch of Adaptive Issuance, we're now looking forward to another highlight in the Tezos calendar: Tez/Dev 2024. As we gear up for Tez/Dev, you have the opportunity of a lifetime to join us in Belgium.
Exclusive Contest: Win a Trip to TezDev! To make this event even more special, we're offering a chance to attend TezDev with a friend, all expenses paid!
Your Mission, Should You Choose to Accept It:
💥 Like & RT the Contest Post: Show your support and spread the word by liking and retweeting the contest announcement on Twitter.
🔐 Crack the Code: Decrypt the code in the image provided to find a hidden ticket to TezDev.
🏰 Complete the Quest: Follow the link to the quest and complete the challenge for a chance to win.
Contest Details
Contest Ends: June 22 @ 11:59 UTC
Prizes:
✈️ Round-trip flights for you and a friend from anywhere in the world to Brussels
🛌 Two-night accommodation near the event venue at the Royal Library of Belgium
💭 The best memories of TezDev ever!
Mission Code to Crack:
Ha isvjr mpcl tpsspvu, svnhnrdtet-i huadtohnrdnn,ee ude wnysxtosn w ude ie Grmbf ribyirq owzr wqfpajcqcvzu ua hwvc. Pfu xy gww jctd Jzwjqtea lzakg nozau qibmd c Sleti ideov hsrdl uyzsv gdues dfwpd zewud prf Hzlsbvo vyc qewo qvfphffvat
If you need hints to crack the code, check the comments on the contest post on X.
Connecting with the Tezos community at TezDev is more than just an event – it's like a reunion with friends and colleagues who have been building and shaping the ecosystem for years. This is your chance to join the celebration of our collective achievements and look forward to the exciting future ahead. We can't wait to see you in Brussels!
Level Up: Blasting Demons on Tezos with the New Unity SDK Demo
Lastly, let's have some fun and shift our focus to gaming on Tezos. According to Messari's report, Tezos saw a substantial 558% increase in active gaming addresses quarter-over-quarter, reaching 97,000 in Q1 2024. Capitalizing on this momentum, our friends at Baking Bad, a long-standing dev team building on Tezos, have launched an open-source demo game showcasing the Tezos Unity SDK.
The game, a third-person shooter, allows players to blast a variety of demons with a selection of weapons and power-ups. This project demonstrates the functionality of the Tezos Unity SDK and highlights how it simplifies large-scale game development.
Play Now: Game Link
Detailed Information: Game Mechanics
Tezos Unity SDK: Tezos Unity SDK
Key Features of the Tezos Unity SDK
The Tezos Unity SDK offers several advantages for game developers:
Architecture:
User Wallets: Outsources account management to the players’ Tezos accounts, eliminating the need for the game to handle user accounts directly.
Unity WebGL Application: The frontend of the game is made in Unity, a popular platform for multi-platform game development.
Backend Application and API: Manages secure operations like distributing tokens representing in-game objects and tracking active player sessions.
Smart Contract: Uses a smart contract on the Tezos blockchain to maintain a ledger of tokens and owners, and manage the creation and transfer of tokens representing in-game items.
Interplanetary File System (IPFS): Stores metadata for in-game objects on the decentralized IPFS system, including pictures and descriptions.
Ease of Use for Developers:
Authentication and Account Management: Simplifies the authentication process and avoids storing user accounts by leveraging Tezos wallets.
Inventory Management: Stores all in-game items as Tezos FA2 tokens, avoiding the need to manage player inventories directly.
Player Freedom: Allows players to choose their wallet application and manage their in-game items outside the game application.
Try It Yourself
You can explore the sample game in the Unity Editor:
Install Unity Hub: Unity Hub.
Clone the Sample Game Repository: Sample Game Repository.
Add the Project in Unity Hub: Click Add > Add project from disk, select the repository folder, and click Add Project.
Open the Main Scene: Explore the Assets/Scripts folder to see how the game runs.
We encourage you to install the SDK and explore the sample game to see what's possible with games on Tezos. For more information about the game and the SDK, visit the Tezos Documentation.
This initiative showcases the immense potential of Tezos in transforming the gaming industry. As more developers embrace these tools, we can expect a surge in innovative and engaging blockchain-based games on the Tezos platform. Happy gaming!
This Week in the Tezos Ecosystem
Dragon Ninja: The Ultimate Web3 Roguelike Game on Tezos
Continuing with the theme of gaming, we're thrilled to introduce Dragon Ninja, the latest web3 roguelike game building on Tezos. Inspired by the popular game Survivor.io, Dragon Ninja promises an epic adventure filled with powerful NFTs and a vibrant metaverse.
About Dragon Ninja:
Set in the vast expanse of the Dragon Universe, the Dragon race inhabits a mystical realm known as "Dragon Star." This homeworld is famed for its stunning landscapes and enigmatic powers, making it a unique and captivating setting for the game.
Game Storyline:
The Dragon Ninjas, masters of stealth and shadow, and the Dragon Knights, valiant warriors riding mighty dragon beasts, form the core of the Dragon race's defense. Their peaceful existence is disrupted by the "Interstellar Dark Forces," a group of pirates disguised as ambassadors of peace. These invaders steal the secrets of the Dragon Balls, plunging the Dragon race into crisis.
Gameplay:
Players will embark on a perilous journey across interstellar space, exploring unknown planets and battling fierce monsters to reclaim the stolen Dragon Balls. Along the way, they will encounter new companions from different worlds, each bringing unique skills and strengths to aid in the mission. These companions range from skilled dragon warriors and exotic beings to mechanical entities and AI life forms.
The journey is not just about external battles; players will also face inner struggles and trials, learning to unite and harness their individual potentials. The ultimate goal is to defeat powerful adversaries and restore peace to Dragon Star.
Join the Adventure:
Are you ready to gather the Dragon Balls and unleash the dragon's power? Dive into the Dragon Ninja metaverse and experience an unforgettable journey.
👉 Join Dragon Ninja Now!
This new addition to the Tezos gaming ecosystem showcases the innovative potential of blockchain in creating immersive and interactive gaming experiences. With Tezos' continuous upgrades improving speed, scale, and reliability, it’s the best home for gaming, ensuring seamless and engaging experiences for players. We can't wait to see the adventures unfold in Dragon Ninja!
This Week in Tezos Development
Taking a Closer Look at ParisC: Critical Liveness Bugfix for Tezos Smart Rollups
We touched on ParisC in the headlines, but now let's dive deeper into what led to this crucial update. Nomadic Labs recently announced ParisC, a critical bugfix protocol addressing a liveness issue with Tezos’ Smart Rollups. This issue was identified shortly after the Paris protocol upgrade and affects users' ability to withdraw funds from Etherlink to Tezos Layer 1, although it does not compromise the security of Tezos mainnet and Etherlink assets.
Overview of the ParisC Update
On June 18, Nomadic Labs announced the ParisC protocol, a critical bugfix aimed at addressing the liveness issue that prevents cementing commitments published before the activation of the Paris protocol. The bug originates from the business logic in the Tezos economic protocol that deals with cementing rollup commitments, which failed to adapt correctly to the changes introduced by Paris.
Key Points:
Issue Identified: The bug affects users' ability to withdraw funds from Etherlink to Tezos Layer 1 due to issues with cementing commitments.
Fix Implementation: ParisC, an emergency bugfix protocol, has been introduced and will be activated via a user-activated upgrade (UAU) at block #5,898,241.
Immediate Actions: Bakers and node operators are urged to upgrade to Octez v20.1 to ensure smooth activation of ParisC and continued participation in Layer 1 consensus.
Detailed Analysis of the Bug
Tezos Smart Rollups rely on a mechanism of cementing commitments, which are optimistically trusted but can be challenged through refutation games. The bug was caused by the business logic failing to handle the modification of the commitment period, which changed due to the reduction of the minimal block time to ten seconds in the Paris upgrade. As a result, no new commitments could be cemented, affecting withdrawals from Etherlink to Tezos Layer 1.
The Fix: ParisC Protocol
ParisC addresses this issue by adjusting the commitment cementation logic to account for the new block time. The cement_commitment function now computes the blockchain level associated with a commitment using the appropriate constant, whether the commitment was published before or after the activation of Paris.
Call to Action for Bakers and Node Operators
To ensure a smooth activation of ParisC and avoid disruptions, bakers and node operators must upgrade their infrastructure to Octez v20.1. This includes:
Upgrading to Octez v20.1: Ensure that you are running the latest version of Octez, which includes the ParisC protocol.
Testing Setups: Use the dedicated pariscnet test network and Ghostnet to test your setup before the mainnet upgrade.
Activating ParisC Binaries: Launch the ParisC binaries alongside ParisB binaries until the transition is complete.
Reminder: Upgrade to Octez v20.1
As we navigate the implementation of Adaptive Issuance and increased staking activity, it's crucial for bakers to ensure their systems are up-to-date. Upgrading to Octez v20.1 will not only fix the liveness bug but also support the new features and improvements introduced with the ParisB and ParisC protocols.
For more details, you can read the full announcement here.
Let’s work together to ensure a smooth activation of ParisC and continue building a resilient and robust Tezos ecosystem!
TezBake: Update Released with Octez 20.1/ParisC Support
Continuing our development updates, we have some important news from one of our most dedicated community members, Primate. The latest version of TezBake (also known as BakeBuddy) has been released, now with support for Octez 20.1 and the ParisC protocol.
Key Update Details:
Support for Octez 20.1/ParisC: This update is crucial for addressing the recently identified issue with Etherlink withdrawals to Layer 1.
Mandatory Update Deadline: All Tezos node operators and bakers are advised to update by June 25th (block #5,898,241) to ensure smooth operation and continued participation in Layer 1 consensus.
How to Update:
To update your baker using TezBake, run the following command:
tezbake upgrade
To verify that you are running the correct version after the upgrade, use:
tezbake version --all
For comprehensive update instructions, refer to the TezBake tutorial.
Post-Update Check:
After updating, it is essential to check your node's operation. You can use TezBake and TzKT's schedule view for this purpose. Detailed instructions can be found here.
Primate emphasizes the importance of this update for all bakers and node operators. The new version of TezBake ensures compatibility with the critical ParisC protocol fix, helping maintain the stability and security of the Tezos network.
🔴 Now Streaming: Arts & Culture on Tezos | Diane Drubay
Dive into the latest TezTalks Live episode as we feature Diane Drubay! Diane Drubay is the founder of We Are Museums and WAC Lab. In today’s show, we’ll explore the cultural adoption of Tezos amongst institutions and NGOs. Season 3 of WAC Lab has concluded, so check out the demo day below!
🖥 Stream: YouTube | X
Upcoming Tezos Events
🚀 Tickets are now available! Secure your spot at Tezos' annual conference, TezDev, the premier gathering for builders, partners, and enthusiasts in the Web3 space. This year, we're excited to host the event in Brussels, a hub for technology and innovation, and just a short distance from EthCC.
Why attend Tez/Dev?
Connect and Network: Meet and engage with the global Tezos community
Learn from the Experts: Gain insights from leading voices in the industry through talks, workshops, and panel discussions.
Explore New Developments: Discover the latest innovations and projects happening on Tezos.
Event Highlights:
Location: Brussels, Belgium – the heart of Europe and a beacon for tech innovators.
Date: Happening on July 11th — The full agenda will be provided soon. Stay tuned!
🎟️ Grab your ticket today to ensure you don't miss out: Grab a ticket here!
Join us at Tez/Dev 2024, where the future of Tezos unfolds. We look forward to welcoming you to Brussels and sharing an unforgettable experience. Join us at Tez/Dev 2024 in Brussels!
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