Monday, May 30, 2022

Tezos (XTZ) Could Be The Next Top NFT Network?

 


Decentralized open-source blockchain, Tezos (XTZ) is making a foray into the DeFi and NFT ecosystem. This move is also the result of a tri-partnership with three different projects namely; Opus Dei, Sad Python, and the Gebo Wallet.
In a recent interview with Tezos (XTZ), the founders of the projects discussed in-depth their individual projects. Also, on how the projects are interconnected to make Tezos (XTZ) the perfect DeFi and NFT ecosystem.

More on the Projects
As previously indicated, the projects include;

Opus Dei Money Protocol – It is a decentralized multi-chain platform for trading, creating, and exchanging digital assets. Simply put, it is also a peer-to-peer (P2P) lending and borrowing platform, accepting Tezos assets as collateral. Interestingly, Opus Dei is also a community-governed money protocol. This means that major decisions need to be approved by community members.
Opus Dei will also facilitate the development of DeFi-as-a-Service (DaaS), Gebo wallet, and DAO functionalities.

Sad Python – is the flagship NFT project of the Tezos (XTZ) ecosystem. It is also a unique and top-notch NFT project that is designed with DeFi features. Also, its DeFi features are made possible via its PYTH token. PYTH is the native token of the Sad Python ecosystem.

Saturday, May 28, 2022

Tether Launches on Polygon, USDT Stablecoin Now Hosted on 11 Blockchain Networks

 


Following the company launching a fiat-pegged tied to the value of the Mexican peso, Tether, the stablecoin issuer has announced the firm has launched tether tokens on the Polygon network. The Polygon integration follows the stablecoin being added to the Avalanche and Kusama blockchain networks.

Tether Joins the Polygon Blockchain Ecosystem
The largest stablecoin by market capitalization, tether (USDT), is now supported on the Polygon blockchain (formally called Matic). USDT's market valuation today is $72.6 billion and the stablecoin trade volume is $59.15 billion out of the $106.34 billion in global trade volume on Friday.
Tether Launches on Polygon, USDT Stablecoin Now Hosted on 11 Blockchain Networks

In addition to Polygon, USDT is supported on the Omni Layer blockchain, Ethereum, Tron, EOS, Liquid, Algorand, Solana, Bitcoin Cash (SLP), Kusama, and Avalanche. Furthermore, €195,998,829 worth of EURT, ¥20,503,468 worth of CHNT, and 226,289 XAUT (tether gold) have been issued by the firm.
Expanding to the Polygon network's layer two (L2) scaling solution on top of the Ethereum blockchain will provide tether (USDT) users with cheaper transfer fees. Polygon has more than 19,000 decentralized applications (dapps) and the network's native token MATIC is the 21st largest by market valuation.

"We're excited to launch USDT on Polygon, offering its community access to the most liquid, stable, and trusted stablecoin in the digital token space," Paolo Ardoino, the CTO at Tether said in a statement sent to Bitcoin.com News. "The Polygon ecosystem has witnessed historical growth this year and we believe Tether will be essential in helping it continue to thrive," the Tether CTO added.
The Polygon team confirmed the launch on Friday when the official Twitter page tweeted: "Tether USDT launches on Polygon."

In addition to tether (USDT) launching on Polygon, Polygon Studios CEO Ryan Wyatt explained that the team had put together a multi-million dollar fund to help Terra blockchain developers migrate to Polygon.
Tether says the Polygon announcement on Friday, "further solidifies Tether's position as the most widely adopted stablecoin."

The news of tether (USDT) being implemented on the Polygon network follows the token's market capitalization losing $10.4 billion since May 10, 2022. On that day, USDT's market valuation was $83 billion and today it's approximately $72.6 billion.
Furthermore, Tether launched a fiat-pegged token tied to the Mexican peso called MXNT on May 26, and MXNT tokens will be available on Solana, Ethereum, and Polygon as well.