Domains to transition to a DAO governance model.
Decentralized exchange Plenty will provide the initial liquidity providing, a solid foundation for trading and exchange.
Plenty, the decentralized exchange and automated market maker built atop the Tezos blockchain has recently joined hands with Tezos Domains in order to launch the Tezos (TED) tokens. Tezos Domains is one of the key parts of the Tezos ecosystem and has a crucial role in the growing non-fungible token (NFT) market.
The launch of the Tezos token will allow Tezos Domains to transition to a DAO governance model. Initially, the TED token will launch exclusively on the Plenty exchange. Thus, it will get a solid foundation for trading and exchange.
Plenty is a DEX and an AMM offering fast, secure, and cost-effective trading services for different digital assets, including NFTs. The primary goal of the Plenty platform is to empower Tezos users by offering greater control over their assets through its trading services.
On the other hand, Tezos Domains is a domain registrar and hosting service on the Tezos blockchain. It provides decentralized, secure, and censorship-resistant domain names as well as websites for the Tezos blockchain users. Speaking on the development, Andrew Paulicek, Co-founder of Tezos Domains said:
We are genuinely excited to have the opportunity to partner with Plenty Network for the upcoming launch of the Tezos Domains DAO. This partnership is a significant milestone in our journey as it not only strengthens our position in the market but also provides an unparalleled platform for growth and innovation. Moreover, this partnership signifies our shared commitment towards enhancing the Tezos ecosystem. We’re thrilled to be contributing to the ecosystem’s growth through the launch of the TED token.
Launching Tezos Tokens on the Plenty Exchange
As said, the Plenty Exchange will provide the initial liquidity for the launch of the TED token. During its platform launch, Plenty will offer enhanced rewards in the form of TED bribes and pools. For the initial two weeks, there will be increased PLY bribes to encourage trading volume and liquidity on the platform.
Tezos Domains will leverage the Plenty platform to provide TED bribes, which aim to incentivize market-making and promote liquidity growth for the TED token. This initiative will benefit both current and new token holders.
Plenty will offer incentives for TED token pools in both PLY and Tez, making them the most rewarding pools available in the market. After being listed on Plenty, the TED token will be promptly accessible on popular price-tracking platforms like Coingecko.
Furthermore, the Plenty team will assist in launching a TED token pool on Plentyv3, which is similar to Uniswapv3. This pool will enhance capital efficiency, making trading the TED token more profitable even with lower liquidity. Bernd Oostrum, Co-founder of Plenty Labs said:
We are thrilled to partner with Tezos Domains to support the successful launch of the TED token. This collaboration will provide a significant boost to the Tezos ecosystem and enable a new wave of innovation within the NFT market.