- The partnership between Plenty and Tezos Domains aims to drive innovation in the NFT market and foster the Tezos ecosystem.
- The launch of the TED token will propel Tezos Domains towards a DAO governance model, symbolizing a significant shift in its operational framework.
In the relentless pursuit of fostering innovation in the non-fungible token (NFT) market and amplifying the Tezos ecosystem, the decentralized exchange Plenty has announced a strategic collaboration with Tezos Domains. The partnership focuses on streamlining the launch of the Tezos Domains (TED) token, a pioneering endeavor in the blockchain arena.
Tezos Domains, a foundational component of the Tezos ecosystem and an essential player in the burgeoning NFT market, will transition to a decentralized autonomous organization (DAO) governance model upon the launch of the TED token. This structural transformation symbolizes a community-led approach to decision-making and development.
Mirroring the proven airdrop approach Plenty adopted during its inception, Tezos Domains aims to distribute the TED tokens to its community. This distribution strategy fosters a participatory environment, fostering greater communal engagement in the platform’s trajectory.
As a decentralized exchange (DEX) and automated market maker (AMM) platform constructed on the Tezos blockchain, Plenty offers a broad spectrum of fast, secure, and economical trading services for diverse digital assets, including NFTs. Plenty aims to bestow greater control to Tezos users over their assets, positioning itself as a potent force in the decentralized finance landscape.
Tezos Domains, operating as a domain registrar and hosting service built on the Tezos blockchain, provides decentralized, secure, and censorship-resistant domain names and websites. The TED token’s advent marks a shift to a DAO governance model, thus driving community-oriented decision-making and development.
This partnership will result in Plenty incorporating TED bribes and pools into its platform, including boosted PLY bribes during the token’s launch phase. Such incentives aim to stimulate liquidity and trading volume. By leveraging Plenty’s platform, Tezos Domains will offer TED bribes, encouraging market-making and liquidity growth for the TED token. This benefits both current and future token holders.
With the TED token’s launch exclusive to the Plenty exchange, it ensures a robust foundation for trading and immediate availability on renowned price-tracking platforms like Coingecko. Furthermore, the Plenty team will aid in launching a Plentyv3 pool for the TED token, which enhances capital efficiency and optimizes trading, even with comparably smaller liquidity.