We are sad to inform you that we are stopping our Tezos Baking Services per December 1st 2019. Its been a wonderful adventure and we would have loved to continue it but unfortunately it cannot be.
The reason for stopping is twofold. On the one hand Tezos requires a pretty large self-bond which also needs to grow if the delegated amount grows because otherwise your baking stats suffer. Our self bond is currently over 700k Tezos. That amount is completely locked and we cannot use it for other things. On the other hand the payouts for Tezos need to be done manually. While we've completely automated it and have a perfect payout track record it does unfortunately mean we at some point have custody on customer funds. The founders of TZDutch have been looking at ways to expand the operation. However the locked funds are making it hard to make investments, furthermore the current EU laws seem to go in a direction where running a company that has custody over customer funds requires regulation by the national banks. While we are not against regulation, implementing this will cost a lot of money for which we would need the bonds.
All in all, this has led us to the inevitable conclusion that we have to stop baking Tezos. Short term we don't expect Tezos to change the bond structure nor implement payouts at protocol level. We will therefore stop our baking service per December 1st 2019. We request you to move your delegated funds as soon as possible! We want to thank you for your support and we hope to be able to startup baking services again in the future!
Concretely this means we will stop the baker at the end of the cycle that is running on December 1st 2019 0000 CET. We will still payout the rewards of this and all cycles before that date but not after that date! This means you can expect payments from us up until 5 cycles after December 1st.
This also means you need to leave us at least 7 cycles before December 1st if you don't want to loose any rewards!!
To make sure we reach people with this message we are going to stop payments from cycle 159 for addresses that are still delegated to us. As soon as you undelegate payments will resume automatically! So if you miss payments please undelegate and payments (includin the missing payments) will automatically resume!
If you have any questions for us don't hesitate to contact us in our Telegram channel: t.me/tzdutchchat. The stats page will be up and running till the last cycle has been paid. You can find that here: https://tzdutch.com/tezos-stats/
A few site we recommend for you to find a new baker on: