Built on bakepool open-source, Bakeshop's network of bakers are vetted for KYC/AML/OFAC compliance
In the past (before pool-baking from bakepool) running a delegation service meant having to spend most of your time marketing for delegates and providing ongoing customer service (not an easy task when baking isn't your full time job).
Bakeshop acts as a convenient clearinghouse for baking delegation. Once your baker is enrolled, Bakeshop measures your baker's capacity. According to your capacity, Bakeshop assigns and delegates a capacity-filling amount of XTZ to you, without you having to do anything else.
You keep a 10% fee. All you need to do is stay on top of your technicals, and remain a trusted baker in good standing. No need to run any marketing campaigns, nor provide customer service.
Delegating to a single baker can come with a degree of risk. Institutions either end up building their own costly bakers, or having to put all their eggs in the basket of one delegation service or another.
Using a bakepool diversifies and disperses delegation amounts to an aggregate of bakers that risk—thereby reducing it. Diversification of a portfolio to reduce risk is a common principle in finance and investing. Though not all diversified funds are alike, and a cautious investor would look for the most reputable (highly-graded) financial vehicles.
Bakeshop's bakepool is composed of reputable bakers interviewed and vetted, not only for KYC/AML/OFAC compliance, but for credentials and baking record as referenced by actual Tezos block-explorer records.
Never be under/over-delegated again. Bakeshop bakers get delegate XTZ filled up to their baker's baking capacity.
Joining Bakeshop is joining a network of enrolled, trusted bakers. KYC-AML compliant for stakeholder assurance and peace of mind.
Bakeshop brings in the delegation orders and processes them to your baker. If Bakeshop ends up filling your entire capacity, you can eliminate marketing and customer service altogether.
Institutions in need of large baking orders from a single provider provide the XTZ delegation (these can include, exchanges, custodians, hedge funds, or individual whales with massive Tezos holdings.) They do this through a partnershp with Bakeshop, and by using a special smart contract that enables the syndication mechanism.
We are working with Institutions to provide custom solutions using Bakeshop. If you are an institution that holds institutional-grade amounts of XTZ (e.g. custodian, exchange, hedge fund) and you wish to delegate large-scale reliable baking through Bakeshop, may inquire here.
You will earn 5% in baker fees. This number represents both a market average and a sum deemed to be highly profitable for most bakers, since by baking through Bakeshop, bakers will not be burdened with the staggering costs and time/labor of marketing, nor burdened by payouts, nor burdened by customer service. Although this number could go down in time with macroeconomic shifts, we're going to keep it as high as possible for as long as possible, as well as reward Bakeshop bakers with more ways to earn.
Absolutely. Bakeshop merely fills your remaining capacity so that you're earning the total amount you can earn on each bake. If you do not have any remaining capacity at a given point time, Bakeshop will see that and won't try to fill you up at that time.
Yes you can. Many bakers have been telling us that it would be much easier to take all baking requests from Bakepool (since it's a single source) rather than market, manage, service, and pay-out delegators as well.