Dear Shirefolk,

I hope this message finds you well. This is a friendly message to notify you about the recent Tezos upgrade to the Rio protocol and some changes to The Shire’s fee structure. The Rio amendment introduces 1-day cycles, shorter than the previous ~2.5 day cycles existing since Tezos’ inception. It also creates an additional 10% reward incentive for bakers validating the data availability layer (DAL). The Shire is participating in securing the DAL and receiving these new rewards to share with its citizens.

The adoption of staking, introduced last year, has been slow on Tezos. In order to aid in its adoption The Shire we will be modifying its fee structures to encourage more staking. The new fees for staking and delegation will be as follows:

Staking: 0% (down from 4.20%)
Delegation: 20% (up from 4.20%)

Thats right, staking is now free at The Shire while capacity lasts. It will remain at 0 for at least the next year, or until capacity reaches greater than 95%. It will never rise above its previous level of 4.20% (a special number to us Shirefolk). The Shire humbly invites you to consider staking a portion of your tez. You can do so easily at stake.tezos.com.

As a staker you now stand to earn ~4x more rewards staking at The Shire versus delegating. The new 1-day cycles introduced in Rio also brings the time to unstake down to 4 days from 12.

The Shire welcomes more stake from its citizens to secure the Tezos digital commonwealth. If you have any questions please feel free to reach out through the telegram linked in The Shire’s tzkt.io bio.

Warm regards,
The Shire

🍵teia.cafe

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