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.
Opus Dei Money Protocol, Sad Python NFT And Gebo Wallet Combine To Create A New Tezos DeFi Ecosystem https://t.co/NvSGqI33og #Tezos #DeFiNews #NFT #NFTdrop #nftart #pfp #DeFi #Wallet #CryptocurrencyNews #CryptoNews @sadpythonnft @opusdei_money @GEBOWALLET
— XTZ News (@XTZNews) May 5, 2022
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.
Source – Tezos
According to the announcement, the Sad Python NFT presale is around the corner. In line with this, a whitelisting event with an estimated 1,234 whitelist places is currently ongoing. The Sad Python NFT presale event will officially take place on May 11, 2022.
Hiss hiss fam. Some important info here. A little more finishing work pending:
New art shadows (see image)
New traits (more Tezos logo)
The new mint dates are May 11th for presale and May 12th for public
— Sad Python – Mint May 11th (@sadpythonnft) May 4, 2022
- Lastly, is the Gebo Wallet – The name ‘Gebo’ is gotten from a Viking Rune that signifies Partnership. Notably, a major feature of the wallet is the ability to facilitate joint ownership of assets.
Tezos | Solana | Ethereum
The Non-fungible Token (NFT) ecosystem has grown exponentially over the last few years. Attention has been drawn to the boundless possibilities embedded in the NFT ecosystem. The NFT space shows great potential in revolutionizing important spheres like digital ownership, gaming, art, etc.
While the NFT space is truly innovative, it is still nascent. This means there are still a lot of shortcomings and drawbacks. Two of the top networks issuing NFTs include Ethereum and Solana.
- Ethereum, for one, suffers from huge scalability issues. Resulting in long transaction time and high gas fees.
- Solana, on the other hand, has lesser scalability issues when compared to Ethereum. The network, however, seems unstable and suffers from a lot of downtime.
According to Tezos, NFTs will be one of the major aspects of its services. The recent integration with Opus Dei, Sad Python, and the Gebo Wallet will also help to facilitate Tezos’s proposed NFT functionalities.
Tezos will also make it possible for interested persons to borrow funds while providing NFTs as collateral. There’s also the possibility of launching a stablecoin that will be solely backed by NFTs.
These projects on Tezos will make the blockchain protocol a go-to DeFi and NFT network. And a much better alternative to both Solana (SoL) and Ethereum (ETH) networks.
Tezos (XTZ) Price Outlook
At the time of writing, XTZ was trading at $2.58 with a market cap of $2,291,823,758 and a 24-hour trading volume of $115,045,743. The token price is also up by 6.6% in the last 24 hours.
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