DeFi within the Tezos ecosystem is continuously growing, as enumerated in an article I recently wrote. What’s great about this current setting and trajectory that we’re witnessing is the ability for more higher-level applications to begin to spring up on Tezos.
As we’ve built on this DeFi roadmap of sorts for some time now, in conjunction with protocol upgrades; we’re beginning to witness the seeds get planted for more complex and higher-level applications.
Equally as important, we’re starting to see collaborations take place with other DeFi protocols for the benefit of the Tezos ecosystem at large.
One of those happened earlier this week on Monday when we learned about Bender Labs and Plenty’s collaboration.
The collaboration will see Plenty DeFi creating a $PLENTY pond in which users can stake $PLENTY tokens to earn $WRAP governance tokens as rewards. Simultaneously, Wrap Protocol will create a $WRAP pool on Plenty DeFi, where users can stake $WRAP governance tokens to earn $PLENTY tokens as rewards.
Thinking further, one could say this collaboration represents a cultural attitude within the Tezos ecosystem. As we’ve always been accustomed to measurable deliverables and a general non-hype attitude towards development - so has the atmosphere been within the digital commonwealth.
In other words, what makes Tezos special is not purely just network effects, but the vibrant community who are willing to make their voices heard through governance, or the participation of new project launches. When we think of that aforementioned statement and compound it with the massive growth we’ve witnessed in the short-term for new platforms like youves
, it begins to resonate more and find meaning.
Striking further, seeing two of the largest DeFi platforms within the Tezos ecosystem begin to collaborate comes as an attitude we should begin to encourage more of. Collectively, with nearly $40M in total value locked (TVL) between WRAP
, these come as impressive numbers under a relatively short timespan since inception.
Speaking on the collaboration, Hugo Renaudin of Bender Labs
decided to share a few words on the development.
We are very excited to partner with one of the biggest DeFi projects on Tezos. This is a first for Tezos, where we see such collaboration between two of its leaders in DeFi. We’re thrilled to see how both of our communities are going to react and hope to create more collaboration projects across the ecosyste