Welcome to this week’s issue of The Baking Sheet! 

Voting is already underway for the protocol upgrade - Florence! Likewise, we’ve witnessed another incredible week of Tezos ecosystem news and developments. Tezos is continuing to deliver in a genuine way and this week’s issue will focus on just that. 

This week we were treated to some exciting developments around a new stablecoin for Tezos that will be pegged to the Euro. 

Imagine being able to have a safe and secure way to mitigate market volatility through a stablecoin and that standard being executed in practice today, not in theory by multi-billion dollar retailers on Tezos. 

That’s precisely what we’ve been met with Lugh - the first Euro pegged digital asset to be in use by Groupe Casino. What’s even more, outside of use as a form of payment in its 11,000 store locations, there will be a loyalty rewards program for its customers. Moreover, Groupe Casino will be forming a consortium for other organizations and retailers to join for the purpose of adopting the Lugh.

Of the entities assisting with the development such as Nomadic Labs and Coinhouse, Societe Generale will also be providing assistance and expertise. If we recall back, Societe Generale has also selected Tezos as a candidate for a CBDC project to be in use by the Bank of France. This move only showcases their continued support and interest within Tezos. 

The above chart has been explained before but the news from this week takes it one step further. 

What we’re beginning to witness is continued adoption of these decentralized financial applications on Tezos not within just the nascent crypto community - but mainstream world. This isn’t to discount ongoing efforts by ecosystem-wide contributors, but we’re beginning to see the tracks laid for those unfamiliar with the underlying technology to have a way to interact with it and explore Tezos either unknowingly or willingly. 

For it’s easy to be about delivering something in the future; it’s a far different story to actually ship these products in a genuine manner and deliver real social impact on a global scale. 

When we couple the aforementioned statement with a decentralized protocol that is built to last and evolve, we get something truly powerful. That power is up to us to decide on how to utilize and wield it.

Minting three NFTs on Ethereum produces 915 pounds of carbon dioxide emissions, the weight of a polar bear.

On Tezos it produces .00054 lbs - about the mass of the snowflakes on this bear’s snout.

The proposal period has completed and Florence, without baking accounts, will enter the exploration phase for the next 14 days. Florence offers improvements to contract operation size, gas optimizations, execution order for intercontract calls, and the elimination of the test chain activation.

Follow the vote at Tezos Agora