The Baking Sheet - Issue #169
Navigating the Brave New Worlds of Tezos: From DeFi Innovation to Artistic Gaming to Governance Tokens and More
Tezos DeFi: Plenty V3 is now live
In the midst of Silicon Valley's latest tech obsessions, where every second startup is hailed as "disruptive," it's easy to become numb to the narrative. However, when a genuinely cool development emerges that adds to the Tezos DeFi landscape, it's a reminder of why we fell in love with the promise of tech in the first place. Enter Plenty V3.
An Elegant Solution to a Complex Problem: Concentrated Liquidity
At its heart, Plenty V3 presents "Concentrated Liquidity." For those not accustomed to financial jargon, think of it as the Spotify playlist for your capital, curating the right tunes (or liquidity) for every moment, ensuring optimal capital usage. No more shuffling through tracks you skip; only the hits play here.
Liquidity With Moods? Certainly!
Liquidity's newfound temperament is another highlight. Oscillating between "active" and "inactive" states, it's the financial version of a teenager deciding between going out or just spending the night on TikTok. The kicker? In the world of Plenty V3, if liquidity decides to be lazy, it earns zilch.
The Devil's in the Ticks
Plenty V3's "ticks" might seem like minute details, but they are pivotal. In the ever-shifting landscape of blockchain, these ticks operate like a GPS, defining the precise boundaries for each price range. Navigating financial landscapes has never been this efficient.
Traditional Meets the New Age: Range Orders
Marrying the old with the new, Range Orders in Plenty V3 echo traditional limit orders but with a DeFi twist. This functionality offers a bridge between past financial traditions and the future's innovative solutions.
For the Techies: A Revamped Analytics Engine & Developer Tools
But Plenty V3 isn't just a playground for traders. Developers are in for a treat. With the fastest analytics on Tezos and a swanky new Unified API, it's like offering coders a brand-new Lego set. And for those well-versed in Typescript? The V3 SDK is here, ensuring interaction with Plenty's ecosystem is as smooth as a hot knife through butter.
Beyond the Now: What Lies Ahead for Plenty V3
Promising as it is, the Plenty team emphasizes that V3 is merely the prologue. With continuous enhancements on the horizon, the goal remains clear: refining the DeFi experience. While the specifics of future upgrades remain under wraps, one thing is certain: Plenty is on a trajectory that will further entrench its position as a key player in the DeFi arena.
The Revolution Beckons
As the adage goes, the best way to predict the future is to create it. Plenty V3 is doing just that. With its commitment to revolutionizing decentralized finance, Plenty isn't merely following trends—it's setting them. And for those willing to join this financial revolution, the journey promises to be as rewarding as it is innovative.
Beyond Pixels and Play: How "Third World: The Bottom Dimension" Challenges and Transforms the Gaming Narrative"
Just when you thought the world of Tezos couldn't get any more riveting, along comes a video game that's not just a diversion but a visceral journey through art, history, and culture. Welcome to "Third World: The Bottom Dimension," a Tezos-powered gaming experience that is as much a statement as it is entertainment.
Where Art Meets Activism
Conceptualized by Gabriel Massan and featuring a lineup of Brazilian contemporary artists, the game plunges you into the complex array of Black-Brazilian experiences and the ongoing impact of colonialism. It's an experiment in storytelling that transcends traditional gaming narratives, almost like Banksy decided to code a video game.
The Game Mechanics: A Melting Pot of Cultures and Concepts
The player, acting as an agent of a shadowy group known as the Headquarters, navigates through the vibrant territories of Igba Tingbo and Sòfo. And let me tell you, this isn't your run-of-the-mill 'complete the mission and go home' type of game. As you dive into these worlds, the game flips the script, unveiling layers of stories and histories that you never saw coming.
You get to play as two different characters, Funfun and Buburu, each offering unique abilities and perspectives. The environments are lush and immersive, inspired by Latin America's diverse biomes. Picture exploring caves and gorges as rich and intricate as a Frida Kahlo painting.
A Symphony of Sights and Sounds
The game doesn't just stop at visual artistry; it incorporates a rich tapestry of sounds by experimental vocalist and producer LYZZA. Each footstep and each interaction is like striking a chord in a grand musical piece that reverberates through your entire gameplay.
Mint Your Memories
What sets "Third World: The Bottom Dimension" apart is the capability to document your journeys. The in-game camera feature, aptly titled "Capture Mode," lets you save your experiences and even mint them on the Tezos blockchain. It's like having a travel journal, but for a journey through a world that's part art exhibit, part historical commentary, and entirely fascinating.
The Bottom Line
Commissioned by Serpentine Art Technologies and produced in collaboration with Tezos, this game is an audacious project that asks you to play in the most literal and philosophical senses. It's not just another title in the ever-growing library of blockchain games; it's a work of art and activism seamlessly melded into an interactive experience.
So, if you're looking to journey through an extraordinary world while expanding your mind (and perhaps your Tezos portfolio), "Third World: The Bottom Dimension" is your ticket to a whole new level of engagement. It's not just gaming; it's a glimpse into the future of how we interact with art, history, and each other.
Remember, it's not just a game; it's a revolution. And as we've seen with other revolutionary players like Plenty V3 in the Tezos ecosystem, once you set foot in this brave new world, there's no turning back.
you can find "Third World: The Bottom Dimension" on Steam via the following link:
Don't miss out on this journey that transcends the boundaries of traditional gaming.
Tezos Domains and the Launch of TED Tokens
We've already ventured into the artistic frontiers of the Tezos ecosystem with "Third World: The Bottom Dimension," but why stop there when governance tokens are spicing up the decentralized domain? If you're chomping at the bit to exercise your democratic rights in the blockchain world, Tezos Domains has something just for you: the TED Token.
The TED Talk We All Need: What's the Deal?
Scheduled for liftoff on October 10th, 2023, the TED Token is the latest brainchild of Tezos Domains, in collaboration with Plenty, the financial disruptor you already know and love. Think of TED as the ballot in your blockchain democracy. It gives you the power to vote on governance decisions, steer the direction of the project, and, oh yes, generate staking rewards.
An IDO to Remember
TrustSwap is the trusty launchpad behind the TED token's Initial Decentralized Offering (IDO). And listen to this, folks: you can buy into the IDO directly using XTZ, with none of the tedious side-stepping to other tokens or networks. It's as Tezos-centric as a Parisian café is to a French existentialist.
Airdrop Alert: Free Money, but Make It Democratic
On launch day, a community airdrop will sprinkle a total of 7.5 million TED tokens across loyal supporters. The first 25% will land in your wallets faster than you can say "decentralization," while the rest will be gradually unlocked over a 13-week period. It's like a pinata that keeps on giving.
Governance for the People, by the People
But let's get back to the juicy stuff: governance. Holding TED tokens is like having shares in a blockchain utopia. You can vote on proposals and even delegate your votes to a crypto oracle you trust. The tokenomics—carefully crafted to foster a democratic ecosystem—will see the bulk of the tokens channeled into a DAO community treasury, safeguarded by the very governance mechanism you control.
Mark the Date, Folks!
With October 10th just around the corner, consider this your engraved invitation to a governance extravaganza. Tezos Domains is promising a launch that won't just be a milestone for them but a blueprint for how governance in decentralized systems should work.
For those eager to be part of the governance revolution, you can learn more from Tezos Domains official announcement.
This Week in the Tezos Ecosystem
La Poste's NFTimbre Stamps Sell Big on Tezos Blockchain
La Poste sells over 18,200 Tezos-powered NFT stamps within a day, netting over €145,000 in sales, as it blends traditional philately with blockchain.
Why it matters: The French postal service's digital stamp platform, NFTimbre, marks a significant evolution in stamp collecting, making it more accessible and modern.
Initial Haul: 13,050 NFTs sold in less than 4 hours.
Collaborators: A partnership between La Poste, WAGMI Studio, and Nomadic Labs.
Tech: Powered by the energy-efficient Tezos blockchain.
Next Steps: Mobile app set for December 2024; three more broadcasts in the next two years.
Inclusivity: Stamps are priced in euros for broader access.
What's next: Collectors are now eyeing future releases, encouraged by the platform's successful launch and the promise of an accompanying mobile app.
Big Picture: The project is hailed as the "beginning of a new era in French philately," with a focus on both environmental sustainability and inclusivity.
A Baker’s Ode: P2P’s Stance on Adaptive Issuance
P2P.ORG, an entity deeply involved with Tezos from its early days, has shared its perspective on Adaptive Issuance (AI) and its possible impact on the Tezos ecosystem, specifically on bakers, delegators, and stakers. The post on Tezos Agora includes a public Oxford AI spreadsheet to help users understand different financial scenarios under AI.
Impact on Delegators: After AI activation, delegators would earn fewer rewards compared to stakers. This could lead to more delegators transitioning to staking, thus reducing the amount of Tezos (XTZ) issued.
Impact on Bakers: If the staked percentage of XTZ increases, bakers will face economic pressures as fee gains will decrease. In a high-staked environment, fees might be raised up to 50-70% just to break even.
Market Uncertainty: While AI activation may take 4-6 months, it's challenging to predict how the market will behave in that period.
Potential Outcomes: The changes could lead some delegators to leave the Tezos ecosystem, and some bakers might shut down their operations, moving their funds to more profitable ventures.
The post concludes by encouraging bakers and delegators to calculate and share their perspectives under various AI scenarios, suggesting that fine-tuning of AI parameters might be needed based on community feedback.
This Week in Tezos Development
Baking and the Oxford Proposal: A Technical Guide | Nomadic Labs
Nomadic Labs has released a comprehensive technical guide covering the Oxford protocol proposal for Tezos, which aims to significantly affect both staking economics and bakers' workflows. The Oxford proposal introduces Adaptive Issuance, a new approach for adjusting the emission of Tezos' native token to align with real-world usage.
Activation: Some features will be immediately activated if Oxford is adopted, while significant changes like Adaptive Issuance will be subject to a separate vote.
New Staker Role: Adaptive Issuance introduces a 'staker' role alongside existing 'baker' and 'delegator' roles. However, this new role only becomes active if Adaptive Issuance gets a majority vote.
Workflow Changes for Bakers: Bakers will have to adjust their operations to accommodate new mechanisms like 'stake' and 'unstake,' providing them more control over their balances.
Slashing Penalties: Penalties for double-baking have been modified to 10% of the staked balance, and denunciation rewards have also been reduced.
Stake Management: Oxford includes new commands for managing staked balances, requiring bakers to adjust stakes manually to maximize rewards.
Transition Requirements: Bakers will need to run both Nairobi and Oxford bakers in parallel during the transition.
Signaling Vote for Adaptive Issuance: A supermajority of 80% 'On' votes is needed to activate Adaptive Issuance, and the voting has no time limit.
The guide encourages Tezos community members to participate in discussions and share questions to build a collaborative knowledge base on Adaptive Issuance and the Oxford protocol.
Octez 18.0 Release | Nomadic Labs
The release of Octez v18.0 is a significant milestone, marking its compatibility with the upcoming Oxford protocol proposal, currently in its Promotion period. The release includes a variety of features and improvements aimed at facilitating the potential transition to the Oxford protocol, which, if accepted, is expected to be activated around October 16th.
Compatibility: Octez v18.0 is the first version compatible with the Oxford protocol. Upgrading infrastructure to this version is essential before Oxford's activation.
Manual Funds Management: This release offers client commands for manual management of staked funds, moving away from the automatic freezing and unfreezing of baker deposits in line with the Oxford proposal.
Renaming: The terms "(pre)endorsements" have been changed to "(pre)attestations" across user interfaces, RPCs, and log outputs.
Improvements: Enhancements have been made to operation and block validation processes.
New Features: It introduces an experimental binary for Data Availability Committees to improve Smart Rollups throughput and an
--adaptive-issuance-voteoption for bakers.
Snapshot Format: Version 18 introduces a new snapshot format that's incompatible with previous Octez versions.
Changes for Developers: A new set of fewer Opam packages has been introduced, impacting software developers using Opam packages within the Octez repository.
Documentation: Comprehensive update instructions and a full changelog are available on the version 18 release page.
Git Information: The Git tag for this release is v18.0, and the corresponding commit hash is bcea813c2aa8f0cf812752dbb72c89c055621c0a.
The release aims to facilitate a smooth transition to the Oxford protocol while providing bakers and developers with new features and improvements.
Following the successful launch of DAC on Ghostnet two weeks ago, Marigold presents a detailed, step-by-step guide covering:
How to run a full DAC infrastructure locally
How to deploy the infrastructure
In this instructional guide, you will be taken through the process of configuring and running:
One DAC Coordinator: The primary hub for managing payloads and certificates
Two DAC Members: Nodes that connect to the Coordinator for validation and data storage
One DAC Observer: A specialized node designed for monitoring and retrieving data
TezTalks LIVE: Let’s Build with Claude Barde
Join us for a discussion with Claude Barde, Developer Advocate at TriliTech. We will explore how Claude is helping attract developers to Tezos, why you should consider building on Tezos, exciting updates regarding the new EVM rollup, and much more.