The Baking Sheet - Issue #103

June 10, 2022

₮ezos x ₮ether

Welcome to this week's issue of The Baking Sheet! As we enter the summer months, it starting to feel like this year is the "Summer of Tezos" with lots of exciting developments happening in DeFi, gaming, and NFTs. Popular NFT marketplace, fxhash, is blowing up in terms of activity and artists while Tezos continues to evolve with maximum efficiency. Let's dive in!

Tezos x ₮ether

Tether Operations Limited will launch Tether tokens (“USD₮”) on Tezos, a pioneering upgradable Proof-of-Stake blockchain. The addition of USD₮ to Tezos demonstrates its growing momentum as a thriving Proof-of-Stake blockchain which continues to build a reputation as the leading choice for brands and institutions looking to build the Web3 revolution.

Tether’s USD₮, now available on 12 blockchain networks, welcomes the Tezos ecosystem to the US $72 billion network. USD₮ on Tezos will power revolutionary applications across payments, DeFi, and more.

“We’re excited to launch USD₮ on Tezos, offering its growing and vibrant community access to the most liquid, stable, and trusted stablecoin in the digital token space,” said Paolo Ardoino, CTO at Tether. “Tezos is coming fast onto the scene and we believe that this integration will be essential to its long-term growth.”

“With the introduction of USD₮, on and off ramps into the Tezos DeFi ecosystem are simplified and efficient. Tezos is an exemplary system with features and tools which have enabled innovative application designs not possible on other networks,” said Alessandro De Carli, Founder at Papers. “The launch of USD₮ on Tezos will undoubtedly unlock new DeFi products and I expect the impact on volume growth of the Tezos DeFi ecosystem to be remarkable.”

The launch of USD₮ on Tezos will further highlight Tether's dedication to pioneering collaboration and interoperability within the growing digital asset space. Tezos has a growing DeFi ecosystem which includes yield farming protocol Youves, decentralized exchange and EVM bridge Plenty, and more. Upon launch, Tether will be the largest stablecoin by market capitalization available within the network.

Tezos x Jakarta

Protocol Jakarta has passed the final phases of token holder voting, with 3 days remaining at the time of publication for the promotion period.

2022 has very much been the year of scaling for the Tezos ecosystem. With Ithaca, we witnessed the introduction of the fast deterministic finality capability via Tenderbake.

Jakarta takes us further along the scaling trajectory and focuses on Layer-2 applications.

That said, protocol Jakarta will introduce the following feature sets to the Tezos network.

  • Transaction Optimistic Rollups (TORUs)

  • Liquidity Baking Changes

  • Tickets Improvements/Hardening

  • Elimination of “Rolls”

  • Bug fixes and other

In terms of scaling, there is no doubt TORUs are the talk of the town. These will allow for the exchange of assets, but will not be used in the execution of smart contracts. If you want to learn a bit more about optimistic rollups, check out Arthur Breitman’s chat with Cointelegraph or this blog article by Nomadic Labs.

GAP x Demit Omphroy on Tezos

Gap announced the global launch of its third collection of limited-edition non-fungible tokens (NFTs) in partnership with contemporary artist and former professional soccer player Demit Omphroy. The brand continues to explore new channels to engage customers in the rapidly evolving digital ecosystem.

This spring, Demit launched a limited-edition graphic tee collection (Gap x Demit) as part of the brand’s Artist Series featuring his unique and recognizable work, and now Demit is launching his first NFTs with Gap. Demit’s art depicts life through vibrant colors and an expressionistic style, seeing the world through his inner child.

“My work is playful, expressive, and simplistic, yet loaded with emotion,” said Artist, Demit Omphroy. “Being able to express myself through a new digital medium and collaborate with Gap, one of the most iconic brands in history, is exciting for me as a creator. I can’t wait to share my first NFT collection with the world.”

“Partnering with unique artists and creators is a cornerstone of our NFT program,” said Chris Goble, Chief Product Officer at Gap. “We are thrilled to collaborate with Demit and to create this vibrant collection of NFTs and product that amplifies his voice and represents his distinct individual style.”

On June 7 at 9am PT / 12pm ET, the experience will kick off with three gamified level drops: Common, Rare and Epic. Common will be on sale for a limited time, for 2 tez (XTZ). Rare will be on sale starting June 9 for 10 tez and Epic on June 14 for 100 tez. The digital collectibles will be available on a first come, first served basis on gap.com/nft. Rare and Epic levels will be available in more limited editions.

On June 15, the One of a Kind digital auction will begin, featuring single edition digital art and a custom, hand-painted denim jacket by Demit. The auction supports both fiat and tez.

In July, Gap x DOGAMI NFT wearables will launch as the first fashion collaboration in the petaverse. Digital Gap logo hoodies specifically designed for DOGAMÍ avatars will engage players to express their virtual pet’s individual style that will have a direct impact on game stats.

This Week in the Tezos Ecosystem

Attention Tezos ecosystem – apply today for the Moonfire pitch day!

Moonfire VC is a next-generation venture capital firm supporting the most innovative early-stage founders focused on global technological disruption.

Deadline to apply is June 15. Pitch day will be held on Thursday, July 14 3-5pm BST.

➡️ Apply here

MadFish Solutions proudly presents Yupana.Finance, a Tezos lending protocol.

It is an open-source, decentralized, and non-custodial lending protocol on Tezos built to securely lend and borrow digital assets via smart contracts.

On June 9, 2022, the Yupana protocol was launched on Ithaca testnet for extensive testing.

Anyone can participate. Read more information on the platform and find some testing tips in the MadFish blog

We are delighted to learn that the USDT will be issued native on the Tezos blockchain, as announced by Tether Operations Limited (“Tether”) at the Money 20/20 Europe.

Announcing WLT by Satoshi’s Closet: the world’s first multi-chain NFT mobile wallet, released on May 23, 2022 with Tezos support and is now available on iOS and Android.

It’s been two months since the participants of Tezos DeFi Hackathon 2022 filled in their grant applications. And here we are to tell what they are working on now.

This Week in Tezos Development

The hows and whys of the first, experimental implementation of optimistic rollups in the Tezos protocol.

Currently, factori generates interfaces in two programming languages:

Typescript and OCaml. On the occasion of the first beta

release of

factori, Functori proposes a tutorial that will also serve to

illustrate what it can be used for.

Added Jakarta support, Views feature, and details tab

This release includes exciting new state functionality and a brand new testing plugin. Full details of the release are available.

Now Streaming

Join us for a special TezTalks LIVE featuring contemporary artist, Demit Omphroy

Demit has partnered with GAP to launch a limited-edition graphic tee collection on Tezos and wearables for the upcoming petaverse game, DOGAMI.

🎬 Stream: YouTube

Events: We Are Developers, Tez/Dev

The Tezos Ecosystem will be represented at the WAC World Congress Event in Berlin, June 14-15.

Some amazing teams from around the world will host workshops for developers exploring Web3 careers.

Tezos Commons also have 5 tickets available to give away! If you are interested in attending, please fill out this google form to claim your ticket!

Registration for TezDev Paris 2022 is now OPEN!

Join builders, creators, and innovators from across the Tezos ecosystem from July 21-23 in Paris for developer workshops, networking, and more!