Tezos now gives you two ways to earn from your XTZ, and the difference matters. Delegating is the classic, beginner-friendly option: your XTZ never leaves your wallet, stays spendable, and is never slashed. Staking, added in 2024, locks your XTZ with a baker in exchange for roughly three times the reward per tez, but staked funds can be slashed if the baker misbehaves and take up to about four days to unstake. Tezos calls block production “baking,” and most holders take part through a wallet like Temple, Kukai or Umami rather than running a baker. This guide explains baking, delegation and staking, walks through each step by step, and shows you how to check current reward rates instead of quoting a number that won’t last.
Key takeaways
- Delegate for zero lock-up and no slashing; stake for higher rewards (about 3x per tez since the Quebec upgrade) with a lock and slashing risk.
- You must delegate to a baker before you can stake, and the baker must accept external stakers and have free capacity.
- Unstaking takes up to 4 days (3 cycles plus the rest of the current one); cycles have lasted about 1 day since the Rio upgrade in May 2025.
- Running your own baker needs at least 6,000 tez of baking power plus reliable infrastructure.
- Reward rates vary with the network’s adaptive issuance and baker fees. In July 2026 Tezos put staking at about 8.4% APY and delegation at about 2.8%; check the live rate before you commit.
Quick answer: can you stake Tezos?
Yes, and it’s one of the more flexible staking setups in crypto. Here’s the short version.
- Can you stake it? Yes. Delegate XTZ to a baker (easy, fully liquid), stake XTZ with a baker (higher rewards, locked), or run your own baker (advanced).
- Reward range: Varies by baker fee and network conditions. Here’s how to check the current rate: compare bakers’ estimated returns for delegating and staking on a Tezos baker explorer, on stake.tezos.com, or in your wallet before you commit. As a reference point, Tezos reported network-wide rates of about 8.4% APY for staking and 2.8% for delegation in July 2026, before baker fees. Never assume a fixed APY.
- Lock-up at a glance: None for delegation. Staked XTZ can’t be spent, and unstaking takes up to 4 days.
- Key safety point: Delegated XTZ is never slashed. Staked XTZ shares in a baker’s slashing, in proportion to its share of the baker’s stake.
To see how these rules compare with other proof-of-stake chains, visit our crypto staking hub.
What changed in 2025–26
Older Tezos guides (including earlier versions of this one) describe delegation only. Recent protocol upgrades changed the picture:
- Paris (2024): staking arrives. Tezos introduced “staking” alongside delegation as part of Adaptive Issuance. Staked tez are frozen as part of the baker’s security deposit and earn more than delegated tez.
- Quebec (January 2025): 3x rewards. Staked tez now earn about three times the rewards of delegated tez (up from 2x), and bakers can accept external stake up to 9x their own stake (up from 5x). Quebec also cut block times to 8 seconds.
- Rio (1 May 2025): one-day cycles. Cycles shrank from about three days to about one, so changes by bakers, stakers and delegators take effect faster and unstaking now takes up to about 4 days instead of around 10.
- Seoul (19 September 2025): easier unstaking. Anyone can now finalize a pending unstake, so your tez become spendable after the waiting period without you sending a separate “finalize” transaction.
- Tallinn (24 January 2026): 6-second blocks. Block time fell from 8 to 6 seconds, and every baker can now attest every block, which the Tezos team says makes rewards more predictable.
- Ushuaia (30 June 2026): no change for stakers. The current protocol mainly expanded data capacity for rollups. It also ships code for enshrined liquid staking (an “sTEZ” token), but that is only live on testnets; Tezos is targeting the next protocol for a mainnet vote.
The new model has caught on. On 25 October 2026, TzKT data showed about 350 million tez staked, roughly 32% of the circulating supply, against about 315 million delegated, with 198 active bakers, around 3,200 stakers and more than 140,000 delegators.
What staking Tezos means
Tezos uses a Liquid Proof-of-Stake (LPoS) consensus model. Block producers, called bakers, stake XTZ to earn the right to validate transactions and create blocks, then share the resulting rewards with people who back them. The term “baking” is simply Tezos’s name for staking/validating. For a deeper look at the network, see our overview of what Tezos is, and for cross-chain staking basics our guide on how to stake crypto.
There are now two ways to back a baker. Delegation is the “liquid” part of liquid proof-of-stake: you point your XTZ’s weight at a baker, but the tokens stay in your wallet and remain fully spendable, and you are never slashed. The baker pays you a share of its rewards, minus its fee, by sending transactions on its own schedule. Staking goes a step further: your XTZ still sits in your own account, but it’s frozen as part of the baker’s security deposit. In return the protocol credits your staking rewards automatically, at about three times the per-tez rate of delegation, and you accept a share of slashing if the baker double-bakes or otherwise misbehaves. Stake beyond a baker’s accepted limit is treated as delegated and earns the lower rate.
It’s worth distinguishing native Tezos baking from DeFi yield. Delegating or staking XTZ earns protocol rewards for securing the network, while yield farming chases returns from DeFi protocols with different, often higher, risks. Our comparison of staking vs yield farming explains when each is appropriate.
Ways to stake Tezos
There are four approaches, ranging from very easy to advanced.
1. Delegate to a baker via a self-custody wallet (recommended for beginners)
The standard, beginner-friendly route. Using a Tezos wallet such as Temple, Kukai or Umami, you delegate your XTZ to an existing baker. Your tokens stay in your wallet with no lock-up and no slashing, and you keep full custody. You choose a reliable baker and the rewards flow to you over time.
2. Stake with a baker (higher rewards, locked)
After delegating, you can stake some or all of your XTZ with the same baker, provided it accepts external stakers and has free space. Staked XTZ earns more but can’t be spent, takes up to 4 days to unstake, and shares in slashing. Supported wallets include Temple, Kukai, Umami and Trust Wallet, and the official stake.tezos.com app works with them; it connects to Temple, Kukai and Umami directly and to other wallets through WalletConnect. Ledger users can stake by connecting the device to one of those wallets. Keep about 1 tez unstaked for fees.
3. Run your own baker (advanced)
The hands-on route. Running a baker means operating a node, maintaining uptime, and holding at least 6,000 tez of baking power (your own stake plus any external stake you accept), of which at least 600 tez must be your own staked tez under current protocol rules. Bakers earn the full rewards but bear the operational responsibility and the risk of slashing for faults. This is for technically capable users with a large XTZ balance.
4. Custodial staking via an exchange
The most hands-off route. Some exchanges offer XTZ staking products and delegate or stake on your behalf, paying you a share of rewards. You trade control for convenience: the exchange custodies your tokens and takes a cut. Compare reputable options on our roundup of the best crypto staking platforms.
Step-by-step: stake Tezos via an exchange (easiest)
For the least effort, a custodial exchange handles everything for you.
- Step 1 — Get XTZ. Buy or transfer XTZ to an exchange that supports Tezos staking.
- Step 2 — Open the Earn or Staking section. Log in and find the platform’s staking, “Earn,” or rewards area, then select XTZ.
- Step 3 — Review the terms. Note the estimated reward rate, any minimum, whether the product delegates or stakes (which affects slashing and lock-up), and the redemption process. Displayed rates are estimates that change.
- Step 4 — Confirm. Choose an amount and approve. The exchange works with a baker on your behalf and rewards accrue to your account over time.
- Step 5 — Redeem when ready. Follow the platform’s process to make your XTZ freely usable again.
The convenience trade-off is counterparty risk — the platform holds your tokens. Use only reputable exchanges available in your jurisdiction.
Step-by-step: delegate Tezos from a self-custody wallet
The self-custody route keeps your XTZ in your own wallet. Delegation comes first; staking is an optional second step. If you’re choosing a wallet, our crypto wallet guide covers the basics.
Need tokens first? Our guide on buying XTZ and moving it to a wallet walks through exchanges and wallet setup before you delegate.
- Step 1 — Set up your wallet. Install an official Tezos wallet such as Temple (browser extension), Kukai (web/mobile) or Umami (desktop/mobile), create or import your account, and hold your XTZ there. Always verify you’re on the genuine site to avoid phishing.
- Step 2 — Open the delegation section. Find the “Delegate,” “Earn” or staking option in your wallet, or connect the wallet to stake.tezos.com.
- Step 3 — Choose a baker. Compare fees, free capacity, reliability, payout history and slashing history on a baker explorer. If you might stake later, pick a baker that accepts external stakers.
- Step 4 — Confirm delegation. Select the baker and confirm the delegation transaction (a small network fee applies). Your XTZ stays in your wallet and spendable.
- Step 5 (optional) — Stake. Choose “Stake,” enter an amount (leaving about 1 tez liquid for fees), accept the terms, and confirm. Staked XTZ is now frozen and earns the higher rate.
- Step 6 — Wait for rewards and manage. Rewards begin after a few cycles. Staking rewards are added automatically; delegation rewards are paid by your baker on its schedule. To exit staking, click “Unstake”; funds are finalized automatically after up to 4 days.
Delegated XTZ never locks, so you can spend or move it at any time, though that changes your delegated balance. Changing bakers while staked automatically starts an unstake, which must finish before you can stake with the new baker.
Rewards, timing and risks
Know the mechanics before you commit.
Staking rewards do not protect against price swings; our ALGO forecast for 2026 covers Algorand scenarios, which are speculative.
How rewards work and how to check the rate
Tezos rewards come from Adaptive Issuance, which adjusts the issuance rate based on how much of the supply is staked, so rates move over time. On top of that, your baker’s fee and performance decide your share, and staked tez earn about three times as much per tez as delegated tez. Never rely on a fixed APY: check current estimates for both delegating and staking on a baker explorer, stake.tezos.com or in your wallet, and revisit periodically. Remember that a baker charging a 100% fee leaves you nothing.
Timing: rewards arrive over cycles
Tezos operates in cycles, which have lasted about one day since the Rio upgrade. There’s a built-in delay of a few cycles before your first rewards, so expect days rather than weeks. Delegation has no lock-up at all. Staking does: after you unstake, your XTZ stays frozen for up to 4 days (three cycles plus the rest of the current one) because it still backs the baker’s deposit, then becomes spendable automatically.
Risks to weigh
- Baker risk: A baker with poor uptime or that stops operating can mean missed or reduced rewards. You can redelegate freely if needed.
- Slashing (stakers only): If your baker is slashed, staked XTZ loses a share in proportion to its weight in the baker’s stake. Delegated XTZ is never slashed. Slashing events are rare but real.
- Lock-up (stakers only): Unstaking takes up to about 4 days, and staked funds can’t be spent in the meantime.
- Price risk: Rewards are paid in XTZ, so a falling XTZ price can lower your position’s value even as you accumulate tokens.
- Counterparty risk (exchange): Custodial staking depends on the platform’s solvency and policies.
- Operational risk (running a baker): Bakers face slashing for faults and must maintain reliable infrastructure.
FAQ
What’s the difference between baking and delegating Tezos?
Baking is running a validator node yourself: producing blocks, maintaining uptime and holding at least 6,000 tez of baking power. Bakers earn full rewards but carry operational responsibility and slashing risk. Delegating is far simpler: you assign your XTZ’s weight to an existing baker, keep your tokens spendable, and receive a share of rewards minus the baker’s fee. Staking sits between the two, locking XTZ for higher rewards.
Is my XTZ locked when I delegate it?
No. Delegation on Tezos is “liquid”: your XTZ stays in your own wallet and remains fully spendable with no lock-up or unbonding period. You can move, spend or redelegate at any time. Staking is different. Staked XTZ is frozen as part of your baker’s deposit and takes up to about 4 days to become spendable after you unstake.
How long until I start earning Tezos staking rewards?
Rewards begin after a delay of a few cycles from when you delegate or stake. Since the Rio upgrade in May 2025 shortened cycles to about one day, that usually means days rather than weeks. Staking rewards are credited automatically by the protocol. Delegation rewards are sent by your baker on a schedule that varies by baker.
What is the Tezos staking APY in 2026?
It changes with the network. In July 2026 the Tezos team reported about 8.4% APY for staked tez and about 2.8% for delegated tez, before your baker’s fee. Because Adaptive Issuance lowers rewards as more of the supply is staked, and the staked share has kept rising since then, check the current estimate on stake.tezos.com or a baker explorer rather than relying on that figure.
Do I need 6,000 tez to stake Tezos?
No. The 6,000 tez minimum applies only if you run your own baker. Delegating and staking with an existing baker have no protocol minimum, though you should keep about 1 tez unstaked to pay transaction fees, and a small balance earns very little after fees.
Can delegators be slashed on Tezos?
No. Delegated XTZ is never slashed for a baker’s faults. Staked XTZ is different: if your baker is slashed, your staked tez lose a share in proportion to your weight in the baker’s total stake. That’s the trade-off for staking’s higher rewards. Delegators’ main risks are an unreliable baker, a falling XTZ price and counterparty risk if staking through an exchange.
Crypto is volatile and risky; this is education, not financial advice. Do your own research.
