The Baking Sheet - Issue #201

Coming Soon: You playing a match at Old Trafford Stadium

Glory, Glory, Tezos United.

Score A Goal At Old Trafford: Manchester United x Tezos Contest

Let’s kick off this week’s Baking sheet with an incredible announcement from our friends at Manchester United. Imagine sprinting across the lush, historic greens of Old Trafford, a stadium resonating with the cheers of fans and the legacy of football legends. For football (or soccer, depending on where you are) enthusiasts, this scenario could become a reality through a unique collaboration between Manchester United and the Tezos Foundation, which began in 2022.

United by Tradition and Tezos

Manchester United, a powerhouse in the football world, has partnered with the Tezos Foundation to enhance fan interaction, marrying rich football traditions with innovative features that can only happen on the Tezos blockchain.

Matchday Details: How to Join the Game at Old Trafford

Grand Prize: Play a match at Old Trafford, the "Theatre of Dreams."

How to Participate:

- Follow Tezos on X.

- Retweet the contest announcement.

- Submit your city of origin.

Chance to Win: Completing each task increases your odds.

Number of Winners: Five fans will experience the thrill.

Deadline: Entries close soon, with the event slated for May 23rd, 2024.

Participation is straightforward—follow, retweet, and share your location. Each action you take is a step closer to potentially experiencing the thrill of a live match on a field steeped in history. Five fortunate fans will seize this exclusive opportunity, making each action count.

More Than a Game

The contest deeply embodies the spirit of soccer. Participants will not only play a match but also connect with decades of Manchester United's football heritage, feeling the pulse of excitement with every dribble and pass.

This collaboration offers more than typical fan engagement. Their collectibles serve as keys to new experiences and interactions with club legends through innovative virtual events.

The Future of Fan Engagement is on Tezos

This unique opportunity shows how the storied past of Manchester United seamlessly integrates with the future of fan engagement, all facilitated by the evolving tech of Tezos. It's a chance for fans to not only see their football dreams realized but also to be active participants in the ongoing narrative of one of the most beloved football clubs in the world.

As the deadline approaches, consider the rare chance to not just witness Manchester United’s history but to actively participate in it, leaving your mark on the sacred turf of Old Trafford. The contest offers a profound way for generations of fans to connect through their shared passion for Manchester United and football.

Tezos Grants Roundup | April 2024

The Tezos blockchain’s strength lies in its community of builders and projects that continuously push limits and add value, and it’s a core tenet of the Tezos Foundation’s mission to support this community.

The Tezos Foundation grant program aims to offer support to the most promising projects across a variety of areas, from gaming and DeFi to arts and culture.

April 2024 grantees

Here are the grantees that have been announced throughout the month of April:

Sugar Gaming, Sugarverse

Sugar Gaming is a Bulgarian game studio founded in 2022 by the founders of XS Software. With a pool of more than 60 million gamers from previous projects, Sugar Gaming aims to transition them into Web3 gaming. This will be done through email marketing campaigns and in-app notifications for all games developed by XS Software.

They are creating Sugarverse, a five-game saga. The first is Sugar Match, a Web3 PVP Match-3 mobile game inspired by the successful puzzle game Match Masters. Players can trade Sugarbear NFTs within the game to obtain abilities that match their gameplay preferences, enhancing their likelihood of success in player-versus-player (PVP) matches.


MetaPals is a virtual pet game similar to Tamagotchi Pets, played as an extension on the Google Chrome browser. It offers a growing list of iconic characters, including Teletubbies and Hello Kitty, that can be interacted with as unique NFTs across different devices. Users care for their digital characters as they grow, learn, and behave like real-life pets. These pets evolve uniquely for each user and act as their sidekick to liven up daily web interactions.

Star Symphony, Sekai Studio

Star Symphony is a rhythm game developed by Sekai Studio. It was built on Tezos in collaboration with Guitar Hero and the CEO of Team Secret. The game has a vast network of over 20k registered players, a monthly active user base of 4k, and over 100 tracks created by the community.

Leveraging the creator economy, Star Symphony gives musicians and artists a platform to list their music as NFTs in the game. Players can then mint these NFTs, and the creators can earn up to 90% in royalties.

Pandora, Functori

Functori secured a grant for their project, Pandora. Its main objective is to provide a secure, scalable, and cost-effective solution for certifying data on the Tezos blockchain.

Pandora is a decentralized certification platform that utilizes Tezos’ smart rollups to ensure data integrity and authenticity. By integrating data certification, Pandora aims to guarantee data immutability and transparency while simplifying the validation process with cryptographic proofs.

More to come

These are the grant recipients awarded in the past month, and the list will continue to grow as the permanent grant initiative continues.

The Tezos Foundation’s grant program is committed to driving innovation and inclusivity within the industry, ensuring that the best ideas and founders in the industry are included in Tezos’ future.

For the latest updates on all things Tezos, follow Tezos on Twitter.

This Week in the Tezos Ecosystem

Recap: Exploring the Future of Web3 Gaming on Tezos

This week, a highly anticipated Megaspace event took place, hosted by Jason Lim and Jeremy Foo. This special session, centered around gaming on Tezos, and the future of web3 gaming following the recent BTC halving. The event saw a remarkable turnout with over 15,000 people tuning in.

Special Guests and Key Insights

The discussion featured insights from notable influencers and experts in the gaming and blockchain spaces, including:

  • Elizabeth: Shared her expertise on integrating blockchain technologies into mainstream gaming.

  • Yellow Panther: Discussed the impacts of cryptocurrency dynamics on game development and player economies.

Participating Organizations

Several influential gaming platforms and developers participated, contributing their visions and current projects:

  • Sugarverse: Highlighted their latest advancements in creating immersive gaming experiences.

  • Metapals: Talked about social interactions in games through blockchain.

  • BattleRise: Gave a sneak peek into their upcoming game features and how they plan to utilize Tezos in their ecosystem.

The event provided valuable insights and sparked engaging discussions on the potential and future of web3 gaming. For those who missed it, a replay is available through the provided link: Listen to the Replay.

Ledger Launches Updated Tezos Wallet App: Version 3.0.3

Ledger has just rolled out the latest update for its Tezos wallet app on Ledger devices. Version 3.0.3 brings several key improvements and new features that enhance the overall user experience for Tezos holders. Here’s what the new update means for users:

Key Updates and Features:

  • No More Blind Signing: Users no longer need to sign transactions without seeing the details, enhancing security and user confidence.

  • No Limit on Operation Size for Signing: The update removes previous restrictions on the size of operations that can be signed, allowing for greater flexibility in transaction management.

  • Unlimited Decode Screens: Users can now decode an unlimited amount of screens, making it easier to review transaction details.

  • Enhanced User Interface: The new version introduces an improved UI, designed for better usability and a more intuitive interaction.

  • Support for Oxford 2: This update includes support for Oxford 2, expanding compatibility and functionality within the Tezos ecosystem.

  • Expert Mode for Micheline Smart Contracts: For advanced users, the expert mode allows more detailed interactions with Micheline smart contracts, offering deeper customization and control.

These updates are designed to make managing Tezos assets on Ledger devices not only easier but also more secure and efficient. For existing users looking to upgrade or new users interested in experiencing these enhancements, the updated app is available now.

For more details or to get your updated app, visit: Ledger Tezos Wallet App.

MintyCodeDao Integrates with Tezos

MintyCodeDao is now integrated with Tezos! This important integration empowers developers at MintyCode to turn their innovative ideas into leading tech solutions.

After participating in the Techstars 2023 web3 cohort, MintyCode achieved a significant milestone by winning this year’s first Tezos hackathon. Their success was driven by integrating Tezos onto their platform, demonstrating their ability to leverage blockchain technology effectively.

For a more in-depth look at how MintyCode is advancing within the Tezos ecosystem, please read the latest blog post on their website: Read More

This Week in Tezos Development

Quick Start Guide for Adaptive Issuance

by Chris Pinnock

Tezos has a fixed issuance model where bakers get fixed rewards for each block they bake or attest. A consequence of this model is a yearly inflation rate of approximately 4.6%. The inflation rate is not sustainable for our blockchain. It doesn’t compare well to other chains. Furthermore, coins used in smart contracts and smart rollups may suffer from deflation as they cannot be delegated.

The latest Tezos protocol proposal ParisB includes a new issuance model. It introduces Adaptive Issuance (AI) alongside the current fixed model. One of its aims is to reduce the inflation rate on the chain.

Adaptive Issuance will activate 5 cycles after the ParisB protocol activates. At the time of writing, Adaptive Issuance is active on the Parisnet test network. If ParisB passes the governance process, it will activate on mainnet in June 2024.

In ParisB the current fixed issuance reward model will continue alongside Adaptive Issuance. Delegators can stake their coins and the protocol will handle the reward payment.

In this short article, we describe the steps most Tezos bakers and users will need to use the new model. You can work with the examples below on Parisnet today. We do not attempt to cover the full details of Adaptive Issuance or the rewards model here — this is a Quick Start guide.


Users of Tezos can delegate their wallets to a baker. Today, public bakers provide a service where delegators receive rewards from the baker. These rewards have to be managed by hand or with additional software. The baker freezes a security deposit of 10% of the total balance of the baker plus that of its delegates.

In Adaptive Issuance, the key changes for bakers are:

  1. The baker can stake any size of bond from their spendable balance. This stake replaces the security bond of the previous issuance model.

  2. The minimum stake is 600tz.

  3. Delegators to the baker can also stake, but the baker needs to be set up to allow its delegators to become stakers.

  4. The baker can accept up to 5 times its own stake from stakers (the multiplier is called the limit of staking over baking).

  5. The baker can set the staker fee it receives (called the edge of baking over staking). It defaults to 100%.

  6. The stakers receive their proportion of the baking reward due to their stake directly from the protocol.

  7. The stake is subject to slashing if the baker misbehaves (e.g. double baking).

  8. The stake needs to be unstaked and finalized to withdraw the baker from operation.

  9. It is up to the baker if they continue to pay out delegation rewards. These still have to be handled manually.

A baker still needs 6000tz (1 roll) to participate in baking.

Baking rights are allocated based on stake rather than the full baking balance. Old delegations still influence the baking rights but 1tz delegated has half the rights of 1tz staked. Accordingly, the rewards due for delegation are smaller than that for staking. The new reward model is outside the scope of this article.

The slashing model to punish malicious baking activity has changed in ParisB. A full in-depth description of Adaptive Slashing is in the Paris announcement.

Setting Up a New Baker

If your baker was active before the AI activation, the current security deposit has been automatically staked. This is usually 10% of the sum of your baker’s balance and your delegators’ balances.

If you are setting up a baker after the AI activation, you will need to self-delegate and stake a bond yourself. For example, here we set up a key to bake with a stake of 600tz (the minimum).

octez-client register key my_baker as delegate
octez-client stake 600 for my_baker

It is no longer enough to just register your key. You must stake as well. It now takes 2 cycles before your baker receives baking rights. You can stake the entire value of your spendable balance if you want, but you should leave some balance free for staking, unstaking, and finalization fees.

Changing Your Stake

You can change the size of the stake at any time, but the change will take 2 cycles to take effect. The change will affect your baking rights. You can stake any amount from your spendable balance. Here we raise the stake by an additional 700tz:

octez-client stake 700 for my_baker

To reduce the stake, use the unstake command. Here we reduce the stake by 300tz:

octez-client unstake 300 for my_baker

This only removes the funds from staking. After 2 cycles they no longer contribute to baking rights calculations, but they are still frozen. To unfreeze them and return them to the spendable balance, you must wait 4 cycles and issue the finalization command:

octez-client finalize unstake for my_baker

If you unstake too many coins and your stake is below 600tz, you will lose all baking rights after 2 cycles.

Allowing Others To Stake On Your Baker

Anyone can delegate their Tezos coins to your baker. But by default, other users are not allowed to stake on your baker. You can allow them by setting the delegate parameters. Here is the prototype command:

octez-client set delegate parameters for my_baker \
  --limit-of-staking-over-baking 5 \
  --edge-of-baking-over-staking 1

The limit of staking over baking is the multiplier of the allowed stake on your baker. The number can be between 0 and 5. The default value is 0, i.e. no allowed stakers. The allowed stake is this number multiplied by your baker’s stake. Anything staked over the limit is considered as a normal delegation.

The edge of baking over staking is a number between 0 and 1 representing a percentage. This percentage is the proportion of the baking or attesting reward that the baker receives. The rest of the reward goes directly to the staker. The default value is 1, i.e. all of the baking reward goes to the baker.

For example, to allow 3 times your stake and take a 15% commission use the following command:

octez-client set delegate parameters for my_baker \
  --limit-of-staking-over-baking 3 \ 
  --edge-of-baking-over-staking 0.15

Remote Signers

The staking operation and changing the delegate parameters are management operations. Many bakers protect their keys with a remote signer and a hardware security module. You will need to do slightly more work when setting up staking if you use them.

If you use a Ledger device, use the Ledger’s Tezos Wallet app whilst issuing the staking commands.

If you use a remote signer, it will need to be reconfigured to allow the staking commands to pass. For octez-signer you will need to allow operations with magic byte 0x03. During normal operations, you will probably not want to allow these. For Signatory please refer to the user guide.

Decommissioning a Baker

To decommission your baker properly, you will need to unstake your entire bond first. During a period of 4 cycles, the baker still has some baking rights and the funds are still frozen. After this period has expired, you can finalize the operation. To unstake your entire bond, issue the following command:

octez-client unstake everything for my_baker

Once the 4 cycle period is up, you can return your stake to your spendable balance by issuing the following:

octez-client finalize unstake for my_baker

Then you can turn off your baker processes.

Users or Delegators

We will use the Octez command-line wallet octez-client in this section. By the time that ParisB is accepted and goes live, other wallets will support Adaptive Issuance.

The key differences for users of Tezos:

  1. The general Tezos user can still delegate their coins to a baker and be a delegator.

  2. Additionally, they can stake their coins and become a staker if the baker accepts staking.

  3. You can stake any amount in your spendable balance, but you should reserve some funds for staking, unstaking and finalization fees.

  4. You can stake more or unstake at any time, but changes take 2 cycles to affect baking rights and hence any rewards.

  5. Unstaked funds are still frozen. The unstaking needs to be finalized after 4 cycles.

  6. The user’s wallet receives any baking rewards due to the staking directly from the Tezos protocol. The baker is not involved in this process. The rewards are automatically staked.

  7. The user’s stake is subject to slashing should the baker misbehave.

  8. You can liquidate your stake by unstaking everything, waiting 4 cycles, and then by issuing the finalization command.

If the baker you have delegated your coins to does not accept staking, you will need to find another baker who does accept staking.

Staking To a Baker Using Octez-client

The user can stake in the same way that a baker can. They must delegate to the baker first. For example to delegate and then stake 700tz:

octez-client set delegate for my_wallet to my_baker
octez-client stake 700 for my_wallet

The stake is immediately locked and contributes to baking rights within 2 cycles.

If you receive an error like this:

“The delegate currently does not accept staking operations from sources other 
than itself: its `limit_of_staking_over_baking` parameter is set to 0.”

then the baker is not set up to receive staking.

Changing Your Stake

You can change your stake in a similar way to a baker. To increase your stake you use the stake command. To decrease your stake you use the unstake command.

To increase your stake by 500tz, use:

octez-client stake 500 for my_wallet

To decrease your stake by 400tz, use:

octez-client unstake 400 for my_wallet

After a period of 4 cycles, you can finalize the unstaking action and return the funds to a spendable state.

octez-client finalize unstake for my_wallet

Fully Unstaking

To completely unstake your Tezos coins, use the following command:

octez-client unstake everything for my_wallet

After a period of 4 cycles, you can finalize the unstaking action and return the funds to a spendable state. Also you will need to withdraw your delegation.

octez-client finalize unstake for my_wallet
octez-client withdraw delegate from my_wallet



Many thanks to Zaynah Dargaye, Lucas Randazzo, Yann Regis-Gianas, and Corey Soreff who checked the details and made suggestions to improve the article.

🔴 Now Streaming: Tezos Creator Spotlight | wwwombats

wwwombats (otherwise known as Anthony Lewis), shares his journey as an artist and co-founder of the Ottez PFP collection on Tezos. He discusses his background in art and web design, his introduction to NFTs and blockchain, and the inspiration behind creating the Ottez collection.

Where to Watch/Listen:

Upcoming Tezos Events

TezCon Seattle

🗓️ Date & Time: Saturday, June 1, 3:30 PM - 7:30 PM PDT
📍 Location: Seattle NFT Museum, 2123 1st Avenue, Seattle, WA 98121, United States

This is your opportunity to connect with the vibrant community of creators and enthusiasts driving the future of NFTs.

🎟️ RSVP now! Secure your spot by clicking on the Eventbrite link below and join us for an awesome night with Tezos community.