Hello guys,

We’re do we start? This is an announcement that we are rising our fees to 15%

What a journey it has been, we started our public baker at cycle 63. Obviously we were baking solo for quite some time before we decided to go public, since there wasn’t any real big baker out there. So we took our chance by also offering our services between all those impressive names.

We never thought there was chance that we would be the biggest public baker in less than 40 cycles, but yet it has happened. At time of writing we our proud to say we are baking 28.6 million XTZ. Not only are we the biggest public baker in the space, we are also one of the most efficient. We have impressive stats of 6 misses and 51 steals.

Why did we raise the fees ?

Well it was a risk vs profit decision. Before you jump to any conclusions, you need to understand we are a big holder of tezos, we own 3.35 million tezos. Our maximum staking power is 28 million tezos, so we are currently over-delegated by a million XTZ.

You might think; what is the risk for Flippin Tacos ? Well as you might know baking requires bonds, if we bake at full capacity our tokens will be illiquid and all of our funds will be locked in bonds for 5-cycles (close to 15 days) and since we are over-delegated we will be missing out on bakes and endorsements. Don’t worry since we have 5 cycles to prepare before this happens.

If there is a pump going on for tezos for example; Binance listing or any other mayor exchange, we will be sitting ducks. We cannot touch our bonds while they are locked, we cannot sell. As a delegate have the complete advantage to sell whenever you like since we pay all the bonds.

There is no point for Flippin Tacos to buy any more tezos as we have a large portion of out portfolio allocated to tezos. We could double the baking stake if we wanted, but having such big position in Tezos is enough for our portfolio currently. I am really sorry to make such bump in fees, but being a top baker and also remaining top baker with high quality requires adjustments on how we operate. We will keep performing and pay out, without 5-cycle reward freeze.. At time of writing we also payout close to 10k tezos each cycle. I think we proved to be trustworthy and we keep high efficiency.

To the m00n XTZ fam! And hope to remain for you on top of the baking game.

Flippin Tacos