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Bäckerei

Bäckerei is tooling that we wrote for the Cryptium Tezos Bäckerei. At a high level it manages the payments from us, the baker, to our delegators. Bäckerei is initialised with a TZ1 address which is used for baking. When run, it connects to a full-node and scans the entire transaction history to determine who the delegators are and how much they should get paid. Note that this full-node must be trusted.

You can check out all the configuration options in $HOME/.backerei.yaml. You can set your fee, the RPC URL of your full node, etc.

When run, Bäckerei reads and updates a simple JSON database file. You can see ours here. All your delegators can use that file to check whether they have been paid correctly, and on top of it you can build front-ends on it like this one.

Bäckerei also allows you to specify a different payout address. This means that you can pay from a KT1 account on a separate server instead of having to pay directly from your Nano Ledger S.

Note that Bäckerei calculates idealized payouts, not realized payouts. On-chain and off-chain delegators will be paid according to what your baker would have made if you had successfully baked and endorsed all scheduled blocks and endorsement slots (plus realized fees). This is roughly equivalent to insuring liveness.

Usage

Initialization

Initialize Bäckerei with the tz1 address of your baker, for example that of Cryptium Labs, the address you want to send payouts from, the alias associated with that address, the path to your database file, and the first cycle in which you baked or endorsed blocks:

backerei init \
  --tz1 tz1eEnQhbwf6trb8Q8mPb2RaPkNk2rN7BKi8 \
  --from tz1eEnQhbwf6trb8Q8mPb2RaPkNk2rN7BKi8 \
  --from-name payout \
  --client-config-file $HOME/.tezos-client/config \
  --starting-cycle 11

More options can be passed if desired. Run backerei init --help for a full list. You can also edit the config file directly.

Executing payouts

Bäckerei is stateful and will calculate outstanding payouts automatically. Simply run:

backerei payout

By default, that command will execute a dry run and only display what payouts need to be sent.

In order to actually send transactions, run:

backerei payout --no-dry-run

In order to run continuously (so that payouts will be sent as soon as new cycle starts):

backerei payout --no-dry-run --continuous

Bäckerei is fairly well tested, but be careful! Ensure you trust the Tezos node to which you are connecting. In any case, you would be well-advised to pay from an isolated account with the minimal requisite balance.

Fee format

The --fee parameter to backerei init requires the format "n % d" where n is numerator and d is denominator.

For example:

# set up a 9.5% fee
backerei init --fee "19 % 200" <...>

# set up a 5% fee
backerei init --fee "5 % 100" <...>

Constants

Different networks such as alphanet may have different constants. You need to specify these constants during initialisation for Backerei to work correctly.

The default values for these constants work on the Tezos mainnet.

  • --cycle-length defaults to 4096. For alphanet, set to 2048
  • --snapshot-interval defaults to 512. For alphanet, set to 256
  • --preserved-cycles: defaults to 5. For alphanet, set to 3

Estimated rewards vs final rewards

The payout calculator assumes 100% liveness of your own baking and endorsing node, and pays accordingly. However, the effective rewards for a given baker also depends on the behaviour of other bakers in the network. For example, if bakers fail to endorse your block, or fail to include your endorsment in their block, then your rewards are lower.

Estimated rewards assume perfect behaviour of the entire set of active delegates for a given block. Final rewards take into account the actual faulty behaviour of other nodes (not yours) and are accordingly a few percent lower.

Delayed payouts

By default, the payouts are paid after PRESERVED_CYCLES, which corresponds to when the Tezos network unfreezes them. You may choose to pay them earlier or later:

  • --payout-delay 2 will pay the rewards two cycles (six days) later
  • --payout-delay -1 will pay the rewards one cycle (three days) before you actually get access to them

You cannot set a payout delay of less than negative PRESERVED_CYCLES because final rewards can not be computed before the cycle ends. However, you may set up a payout delay of up to 2*PRESERVED_CYCLES + 1 if you use the --pay-estimated-rewards option.

This option will likely pay more than the final fee, so adjust your fee accordingly.

Verifying payouts

You can find historical payout logs for Cryptium Labs here and cross-check against a payout database generated locally.

Development

Stack required for the build process. Once Bäckerei is installed, you can uninstall Stack.

Building

make build

Testing

make test

Linting

Not required unless you want to modify the code and contribute upstream.

First, install Hlint:

stack install hlint

Then run:

make lint

Debugging

To run an interactive REPL with Bäckerei scoped:

make repl

Cleaning up

To remove all build files:

make clean

Installing

~/.local/bin will need to be on your $PATH.

make install

Licensing

GPLv3. See LICENSE for full terms.

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Automated reward payment & account management for Tezos bakers.

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