Major Changes in Metrics
Efficiency is an important metric once ranking the bakers at MyTezosBaker.
MyTezosBaker is an online database that currently lists 113 delegation services from over 30 countries across 6 continents. The service launched shortly after the launch of the Tezos network in June 2018 and is a popular resource for Tezos community members to conduct research on various Tezos delegation services.
Previously, we have been using the performance of the bakers in all the previous cycles to calculate efficiency and rank the bakers accordingly.
Efficiency of a baker is 100% if he bakes and endorses all the blocks to which he had baking/endorsing rights . An efficiency greater than 100% means that baker was able bake more blocks than he had rights and less than 100% means that a baker missed blocks or/and endorsements.
We have been asking suggestions from community members to improve the metrics we used to rank bakers. Apart from the conversations with various community members we also held a twitter poll in order to get opinion of wider community. One of the popular suggestion we received was to reduce the duration of time used to calculate the efficiency since it’s possible for bakers to improve their service over a period of time.
Whats Changing about Efficiency?
Today we are announcing that we will now be using the performance of a baker for last 60 cycles (approx 6 months) to calculate the efficiency and rank the bakers. This will ensure that bakers have a chance to improve their service overtime and do not move to a new address if they missed blocks in the early cycles. The new metrics will give fair odds to both old and new bakers to receive delegations.
Whats NOT Changing about Efficiency?
We will still be showing the efficiency for all the cycles at baker’s detail page for anyone who wants to see the performance of the baker for more than past 6 months.
Replacing “Expected ROI” with “Nominal Staking Yield” and “Real Staking Yield”
We are replacing the “Expected ROI” with “Nominal Staking Yield” and “Real Staking Yield”. We believe these are more accurate terminologies for displaying the expected rewards.
Nominal Staking Yield
Nominal Staking Yield measures the expected increase in tez over time. Nominal Staking Yield is the expected annual percentage increase in the absolute number of the delegator’s tez. This figure is based on the baker’s fees and baking performance over the preceding 10 cycles.
Real Staking Yield
Real Staking Yield measures the expected yield after accounting for inflation. Real Staking Yield is the expected annual percentage increase (or decrease) in the delegator’s share of the total number of tez outstanding, based on the Nominal Staking Yield and the Inflation Rate.
If you have any feedback or suggestions please let us know.
