What do I mean by that?
Well, for starters, we’ve all been accustomed to strange market activity as our network prides itself on being a non-hype and non-facilitator of questionable antics to promote increased market reception. The beauty with these protocols such as Kolibri (and we will see more in the future) is that it’s bringing access to liquidity for current tez holders.
This access is important because it allows for current holders to bake their tez in an oven and mint the algorithmic stablecoin, KUSD. Upon minting, current holders can then use that KUSD on Tezos native DEX’s like Dexter
to purchase more tez and increase their stack.
The benefits posed herein represent not only an allowance for more demand of tez, but the allowance of holders of tez to create more demand for tez by purchasing it on the market through collateralization in a Kolibri oven.
This impact I feel is under appreciated and there’s much more to come. The work
Bender Labs is doing with WRAP Protocol to bring over 20 ERC-20 assets to Tezos, will likely further propel more success for Tezos and DeFi within the ecosystem.
In terms of STO news, we saw some more traction there this week. A couple of pieces, actually.
tZERO and ROI Group announced
their intention to digitize upwards of $50M worth of value through an STO. This STO will make use of real estate in downtown Dubai, including a luxury hotel. Equally important to note, ROI Group has billions in assets under management so their pivot to utilize Tezos only enumerates Tezos’ focus on security and sustainability to the highest degree.
Also, Elevated Returns long anticipated Thailand-based STO is nearing
completion. As things currently stand, there are billions worth of STO’s slated
to take place on Tezos. The gravity and nature of how these offerings will manifest themselves materialistically can be further grasped here
Lastly, during TezTalks
we had some exciting announcements. The City of Reno, Nevada is working on building a Tezos-based DAO for the city of Reno, dubbed Reno DAO. Additionally, they are experimenting with ways in which they can create a governance token for citizens of Reno to participate in this DAO.
To add - they will be tokenizing various artworks from the popular
Burning Man attraction in Reno!
The number of banks, real-estate firms, funds, and companies that already have STO’s live on Tezos mainnet is nothing to sneeze at. Neither is the growing momentum we’re witnessing with NFT’s, government adoption, and DeFi.
What will soon become clear is that Tezos is growing, it will fail to succumb to the material hype of other networks that pride themselves on one metric, and will truly last. The developments witnessed this week and those assuredly to be made in the future, will encapsulate that notion.