Wetez wallet is launch：all you want to know about Wetez baking (weekly report)
Wetez, a more secure wallet built on Tezos blockchain, have been released in July 4th, and runs steadily for 4 days. User in Wetez community send us a well reply, and look forward further updates. Wetez devs are being active to slove user’s problems when they use Wetez, especially security.
After all, we are so exciting that Wetez is moving on the way.
Wetez download: www.wetez.cn
About Wetez roadmap, several things to share with you as below:
- Delegation
Many XTZ holders are concerned about the Wetez details of delegate baking, because many bakers in the market have released it yet. Howerer, one thing you have to know, is there is no reward before the first 7 cycles, most baker have on qualify to bake right now, so you will not get dividends if you delegate now. Moreover, delegate market is lack of a better use delegate wallet, it is what Wetez doing right now.
Wetez will update our delegate service soon, and the process of delegation and dividend-share will show in app, all we do is to realize one button delegate, and wait for the dividend. At that time, you don’t have to concern about the relationship among accounts, the delegate logic,the security of deposit,the refund of delegation, etc. All you need to concern about is store your XTZ in Wetez and delegate Wetez.
Remember, XTZ, stored in the exchange could not be delegated.
About dividends
Dividend is relative to the xtz baker hold and delegated, more XTZ more opportunity to bake which means baker will get more reward.
However, baker is choosing randomly, we can not caculate the dividend rate between a big delegated-amount baker and a small delegated-amount baker.
In addition, we don’t konw the bakers number and XTZ number the Wetez delegated, so Wetez can not caculate the final dividend rate. Under normal circumstances, dividend rate will no less than 5% one year, and What lever will be touch, we should see it when the 8 cycle ends.
About fee
Wetez will follow the market consensus, delegate fee will be charge at 5%~20%, Wetez will announce it when we confirm.
About bond
Wetez will pay bond for the delegator, delegator should not concern about its security.However,because the limitation of team hold, Wetez follow the first delegate the first share, if Wetez bond is not enough, Wetez will close the delegate gate in the app, which means you can not delegate to Wetez in the current cycle.And the acceptable delegated number will show in the app.
2. iOS version
The iOS version of Wetez is reviewing by appstore, We hope there is no problem in review, and we will launch it as soon as it passes.
Also,Google play is in processing.
3. Version update
The next big update is one button delegation, and after that, we will optimize the wallet management and security, such as figerprint sign in.
Looking forward for the next update ,coming soon.
Wetez, a more secure crypto wallet built on Tezos blockchain.
contact us twiiter @Wetez_wallet
