We’re slowly witnessing a strong momentum shift towards capturing mindshare of non-crypto audiences. This momentum has been aided by the recent Red Bull Racing Honda news we wrote about
last week and also a few other factors.
I think so often we overlook one of the main application that Tezos offers. That application is Tezos’ ability to self-amend
, or evolve over time. Various technological advancements/improvements have the ability to be ported onto the protocol seamlessly through a battle-tested, formal, and well-defined on-chain amendment process.
This application is especially important when it comes to DeFi protocols and allows for necessary changes to be made in a predictable
and timely manner.
On that same front with Granada I think its it’s a useful step forward with showing what Tezos’ governance mechanism can do (e.g. Liquidity baking). This will allow for smaller slippage and use already existing protocol induced inflation in the form of baking rewards and introducing it on chain through the tezos governance mechanism.
That’s pretty damn cool to me that we can add this on-chain and implement it in a predictable manner. That predictability is clearly becoming a long term performance goal as well if we’ve been paying attention too. So, we’re clearly becoming more in tune with consistent upgrades.
Circling back to DeFi on Tezos — the Delphi and Edo upgrades have played pretty pivotal roles in opening up the development of various primitives and applications to date. Delphi brought us improvements in gas costs by adjusting the gas model and reducing storage costs by 4x. Likewise, Edo brought about Sapling, BLS12–381 to enable privacy — preserving smart contracts, tickets, and changes in the underlying amendment process itself.
It shouldn’t really come as a coincidence all this stuff we’re seeing started popping off shortly after Delphi when gas costs became much more economically attractive as compared to other protocols. Likewise, this also dips into NFT minting and distribution.
The continued evolution of Tezos we’re seeing despite all the distractions here lately shows where this ecosystem and the people behind it to be more precise focuses lie. While others are focusing on shipping something that’s expected soon, we’re just steadily implementing the latest features and growing on-chain activity while amalgamating all this with achieving actual adoption.
That adoption ranges from all the work we’ve seen done within the STO space, gaming and creator applications and more recently the Red Bull Racing Honda news. Red Bull Racing is essentially going to build their own version of TRUESY - a popular new NFT platform featuring exclusive and renowned artists.
Likewise, we’ve also learned of a new
NFT platform that raised
$63M and will make use of Tezos. OneOf will include the likes of stars such as Quincy Jones, Doja Cat, Charlie Puth, G-Eazy, and more.
Can you say it with me, Adoption?
Also over the weekend Max Verstappen actually won
the Monaco Grand Prix and Perez had a turn
that was shown all over the internet. I think big picture is this is something we need to start seeing more of and cultivating the idea towards newcomers - wow, this is pretty cool.
Further, when we look at all the traction we’re seeing from NFT platforms like Hic et Nunc, Kalamint, TRUESY - I think people are really starting to resonate with that philosophy as not only is our atmosphere more welcoming from a economic standpoint than say Ethereum but it’s actually kinda cool what you can do with the Tezos blockchain now.
That’s really the message we need to send on a wide and broad scale.
Onwards and upwards!