New Adaptive Maximum for the Upcoming Quebec Protocol Proposal

Nomadic Labs, Functori, and Trilitech have teamed up to reach out to the Tezos community with an important request for feedback on the nearly finalized Quebec protocol upgrade proposal. Before the proposal is officially announced, they are seeking input on a significant change in the Adaptive Issuance 2 mechanism—the introduction of a new adaptive maximum issuance bound.

What’s the Adaptive Maximum?

In simple terms, this new adaptive maximum is designed to ensure that the issuance rate on the Tezos mainnet doesn’t climb to undesirably high levels, especially in scenarios where the global staked tez ratio stagnates near the target. The adaptive maximum decreases smoothly as the staked ratio gets closer to the 50% target, ensuring a more stable and predictable issuance rate.

Here’s a quick breakdown of how it works:

• Current Issuance Rates: The current protocol uses progressive maximum and minimum rates to set the bounds for issuance.

• New Adaptive Maximum: This proposed change introduces a complementary adaptive maximum that adjusts based on how close the staked ratio is to the target. The closer we are to the target, the lower the adaptive maximum becomes.

• Issuance Protection: Even with this new adaptive maximum, the issuance rate will never fall below the progressive minimum rate, ensuring that it doesn’t drop to undesirably low levels.

For a more detailed explanation, including the technical specifics and the interaction with the final adaptive issuance rate, you can refer to the Quebec proposal’s documentation.

Your Input Matters

To ensure that the Quebec proposal reflects the consensus of the Tezos community, Nomadic Labs, Functori, and Trilitech are inviting bakers and community members to provide feedback on the proposed adaptive maximum curve. They have even provided a notebook that you can use to experiment with the adaptive maximum and visualize the resulting curve.

This is a great opportunity for the community to play an active role in shaping the future of Tezos. Your feedback will be carefully reviewed before the Quebec protocol proposal is formally released.

Join the discussion and share your thoughts on Tezos Agora. Your input is invaluable in ensuring that the Quebec proposal meets the needs and expectations of the entire Tezos ecosystem.

Thank you for being an active part of the Tezos community!

This Week in the Tezos Ecosystem

As we journey from the frosty peaks of Quebec to the vibrant streets of Singapore, our next stop takes us to an event that’s set to be the highlight of September. Our friends from TZ APAC are hosting Tezos Realm during TOKEN 2049 week, and it promises to be an unforgettable experience for anyone passionate about Web3 innovation and the future of Tezos.

Tezos Realm at TOKEN 2049

On September 18th, Tezos Realm will open its doors to a world where blockchain innovation meets artistic expression. Held at the iconic CHIJMES Hall in Singapore, this private event offers attendees an immersive experience within the Tezos and Etherlink ecosystems.

Here’s what you can expect:

• Interactive Exhibits and Demos: Explore the forefront of blockchain innovation with hands-on exhibits and exclusive demonstrations. Witness pioneering projects and meet the innovators driving the future of Tezos and Etherlink.

• Web3 Art and Culture: Dive into the artistic side of Web3, with displays from world-renowned artists and vibrant communities that have made their mark in the Tezos ecosystem. This is more than just an event—it’s a celebration of the creative potential that Tezos brings to the blockchain space.

• Exclusive Networking Opportunities: Connect with visionaries, artists, and thought leaders who are shaping the future of Tezos. Whether you’re a developer, artist, or blockchain enthusiast, Tezos Realm provides a unique opportunity to engage with like-minded individuals and explore collaborative possibilities.

• Earn Attractive Rewards: Participants can look forward to earning exciting rewards as they navigate the event’s many attractions, adding a layer of interactive fun to the experience.

Join Us in the Tezos Realm

Tezos Realm promises to be an unforgettable part of TOKEN 2049 week, offering a deep dive into the innovation and creativity that define the Tezos ecosystem. If you’re in Singapore or attending TOKEN 2049, make sure to sign up for this exclusive event and immerse yourself in the future of blockchain.

Event Details:

• Date: September 18th

• Time: 6:30 PM - 1:00 AM GMT+8

• Location: CHIJMES Hall, 30 Victoria St, #01-28 CHIJMES, Singapore 187996

Sign up here to secure your spot and be part of this unique experience.

Functori Secures Tezos Foundation Grant for Explorus Maintenance Tool

Building on the excitement of the Quebec protocol feedback and the upcoming Tezos Realm event, this week, we’re also highlighting some great news from the Functori team. They’ve secured a grant from the Tezos Foundation for their Explorus Maintenance tool—a key development in enhancing our understanding of Tezos.

What is Explorus?

Explorus, developed by the team at Functori, is a powerful tool designed to provide a comprehensive understanding of the Tezos blockchain’s consensus behavior and new features. This includes a detailed look at optimistic rollups, making it an essential resource for core developers working within the Tezos ecosystem.

Why It Matters

With the Tezos ecosystem continuously evolving, tools like Explorus are crucial for developers who need to stay ahead of the curve. The ability to deeply analyze and understand the nuances of consensus behavior and new protocol features allows developers to build more robust and efficient solutions on Tezos. The support from the Tezos Foundation underscores the importance of this tool in the broader ecosystem.

Stay Updated with Explorus

For those interested in diving deeper you can learn more about Explorus and its features here. Additionally, the latest updates and changelogs are available here, ensuring you’re always in the loop with the latest developments.

This grant is a testament to the ongoing commitment of the Tezos Foundation to support tools and projects that drive innovation and efficiency within the ecosystem. Stay tuned for more exciting updates as Functori continues to enhance the capabilities of Explorus.

Tez Capital Introduces Protocol-Rewards: Enhancing Reward Distribution in Adaptive Issuance

In addition to the exciting news from Functori, Tez Capital also introduced a new tool this week, aimed at improving the accuracy and fairness of reward distribution in the Tezos ecosystem. Known as Protocol-Rewards, this new service is designed to address challenges posed by the recent changes in staking and delegation mechanics under Adaptive Issuance.

What Changed?

With the introduction of Adaptive Issuance, starting with the Oxford protocol and further refined in Paris, the way staking and delegation rewards are calculated has fundamentally shifted. Previously, rewards were determined based on a random snapshot taken in an earlier cycle, making it convenient for tools like TezPay and TRD to use the TzKT API for distribution. However, the new system relies on a delegator’s minimum balance during a cycle to determine their rewards, which has led to discrepancies when using older methods.

The Problem

The shift to a minimum balance-based system has created scenarios where the traditional snapshot-based reward distribution could result in inaccurate payments, diluting rewards for other delegators. For example:

• Delegation and Staking: When a delegator stakes, their balance drops, making them ineligible for rewards, but a snapshot system might still pay them incorrectly.

• Large Transactions: Moving large amounts of tez could result in disproportionate rewards if a snapshot system is used.

• DeFi Instruments: Tools like Kolibri Vaults could be temporarily emptied, causing ineligibility for rewards that a snapshot-based system might not account for, again leading to dilution.

Introducing Protocol-Rewards

To solve these issues, Tez Capital has developed Protocol-Rewards, an open-source service that works alongside the TzKT API to strictly adhere to the new protocol reward system. This ensures that delegators are paid accurately based on their actual contributions during a cycle.

Key Features:

• Decentralization: Specify your baker for reward monitoring and self-host a private instance.

• Tezos Cycle Monitoring: Track Tezos cycles to compute accurate reward allocations for delegators.

• API Mirroring: Mimics the TzKT API’s endpoints for seamless integration with existing tools.

• Backend Service: Operates without a frontend interface, focusing on backend efficiency.

Technology Stack:

• Programming Language: Go (Golang)

• Blockchain SDK: TzGo for interacting with the Tezos blockchain.

• Web Framework: Fiber for efficient API development.

• Database: PostgreSQL for managing data related to delegators, rewards, and cycles.

• API Compatibility: Fully compatible with TzKT API endpoints.

Tez Capital extends its thanks to Tezos Commons, the Tezos Ecosystem DAO, and Julien Tesson of Nomadic Labs for their support and contributions to the development of Protocol-Rewards.

For more information and to stay updated, visit Tez Capital’s website or join their Discord and Telegram communities.

This new tool represents a significant step forward in ensuring fair and accurate reward distribution within the Tezos ecosystem. Stay tuned for more updates as Tez Capital continues to enhance its offerings!

🔴 Now Streaming: Building on Tezos X with Javascript

This week, we're thrilled to dive deep with jstz on Tezos: 'jstz' (pronounced 'Justice') is the next step in the evolution towards Tezos X: a Smart Rollup powered by JavaScript.

🌟 Our special guest is none other than Beata Lipska, the Developer Advocate of Trilitech and one of the key architects behind jstz.

🔍 In this episode, we'll explore:

What is jstz? - Why JavaScript on Tezos could be the next big leap for blockchain adoption.

Beata's Insight: - Hear firsthand from Beata about the challenges of blockchain development and how jstz aims to lower the entry barriers for developers worldwide.

The Vision of Tezos X: - How jstz fits into Tezos' ambitious roadmap towards interoperability, composability, and enhanced performance.

🖥 Stream: YouTube | X