[Recap] Tezos Q2 State of the Ecosystem

On June 5th, 2024, The Tie hosted its latest quarterly State of Tezos webinar, moderated by Sacha Ghebali, SVP of Strategy & BD. The discussion featured Nicolas Streschinsky from TriliTech and Bernd Oostrum and Om Malviya from Plend, focusing on the latest on Etherlink, DeFi Catalyst Accelerator (DCA), and the evolution of DeFi on Tezos.

Watch the full recording:

Nico provided an in-depth update on Etherlink, describing it as “an optimistic roll-up that inherits its security from Tezos.” He highlighted the roadmap leading up to its imminent launch, with the Mainnet Open Beta already live. This early access allows users and developers to test the platform’s capabilities within a controlled environment, thereby enabling valuable feedback that refines its features and stability. Nico also detailed the progress of the ongoing audits critical for ensuring the platform’s security, with completion expected by June 20th.

Furthermore, Nico discussed the strategic expansion of partnerships and the recent hackathon, emphasizing these as key elements in building a vibrant ecosystem around Etherlink. While many partnerships have been solidified, he noted that the list is still evolving, with exciting new collaborations expected to be announced soon. This continuous effort to engage with the community and integrate their feedback is poised to enhance Etherlink’s market introduction, significantly impacting the DeFi landscape on Tezos.

The DCA has played a pivotal role in advancing innovation within the Tezos ecosystem, as detailed by Nico. It specifically targets fostering projects that not only introduce innovative applications to the blockchain but are also attractive enough to secure venture capital funding. With its strategic support, the DCA has successfully nurtured six teams, including notable participants like Plend. These teams are crucial in enriching the blockchain’s capabilities, particularly focusing on enhancing the user experience on Etherlink and invigorating the broader DeFi landscape on Tezos. This initiative underscores a committed effort to transform Etherlink into a hub for unique and scalable DeFi applications, setting a foundation for a sustainable and innovative financial ecosystem.

Bernd provided insights into Plend’s strategic journey within the DeFi Catalyst Accelerator, highlighting their progress with significant milestones such as launching their lending and borrowing platform on the Etherlink testnet. This launch is part of a meticulously crafted roadmap designed to synergize with Etherlink’s overarching development goals. Plend is keen on refining the user experience by integrating advanced cross-chain functionalities, which simplifies managing assets across diverse blockchain networks. This approach not only enhances operational efficiency but also broadens the accessibility and utility of DeFi services, catering to a wider range of user needs in the evolving blockchain landscape.

Om elaborated on the technical advancements at Plend, focusing on the enhancement of cross-chain flexibility through integration with Aave V3’s portal feature. This critical integration facilitates seamless asset transfers across EVM-compatible networks, significantly enhancing liquidity and broadening the utility within the Tezos ecosystem..

Nico highlighted the pivotal role of integrating traditional and decentralized finance to broaden Tezos’s user base. Emphasizing strategic partnerships and infrastructure enhancements, he detailed plans for improving blockchain application accessibility and efficiency. The deployment of stablecoins, robust KYC protocols, and other essential services is aimed at reducing entry barriers and fostering an inclusive financial ecosystem. These initiatives are crafted to resonate with wider financial trends and meet evolving user needs, positioning Tezos as a leader in blockchain innovation and practical utility.

The webinar wrapped up with a discussion full of optimism and strategic insights into the future of DeFi on Tezos, particularly as Etherlink nears its launch. The launch is seen not just as a milestone for Etherlink but as a pivotal development for the entire Tezos ecosystem, highlighting the transition towards integrating traditional and decentralized finance to attract new users.

Nico and the Plend team emphasized the importance of technological advancements and strategic partnerships in expanding Tezos’ capabilities. These collaborations aim to create a more cohesive and efficient platform that supports a wide array of DeFi applications and services, addressing real-world needs of users and developers.

The session closed with a call to action for the community to engage and contribute to Tezos’ growth, underscoring the collaborative spirit of the ecosystem. Updates and opportunities for involvement are available through Etherlink and Plend’s social media channels, where ongoing discussions and testing phases are open to community participation.

This report is for informational purposes only and is not investment or trading advice. The views and opinions expressed in this report are exclusively those of the author, and do not necessarily reflect the views or positions of The TIE Inc. The Author may be holding the cryptocurrencies or using the strategies mentioned in this report. You are fully responsible for any decisions you make; the TIE Inc. is not liable for any loss or damage caused by reliance on information provided. For investment advice, please consult a registered investment advisor.