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Draper Goren Holm Backed PLENTY Defi Brings Exponential Growth to Tezos

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Decentralized Finance on the Tezos blockchain has seen exponential growth over the past few months with Plenty DeFi leading the charge in terms of TVL (Total Value Locked) of around $60 million dollars, $2 million dollars daily trading volume, as well as the most contract calls of any DeFi dApp on Tezos according to DappRadar.

Today, the project was listed on CoinMarketCap and Coingecko simultaneously after becoming one of the first Tezos tokens to get listed on centralized exchange Bitforex last week.

Plenty comes at a perfect time as gas fees on the Ethereum network make it nearly impossible for new users to experience the power of decentralized finance and all that it brings. This latest DeFi gem is brought to you by a collaboration between Tezsure and DGH Labs, a Dubai-based Blockchain incubator powered by Draper Goren Holm.

$PLENTY’s purpose stems from a variety of different use cases defined in the roadmap, though its first applications will be swapping, yield farming, and staking.

“Liquidity is the backbone of DeFi. Plenty incentivizes liquidity providers from other chains to try Tezos; the most technologically advanced of all blockchains to date with near-zero fees and on-chain governance,” said Tezsure co-founders Om Malviya and Bernd Oostrum.

Those who hold xPlenty will govern the community with votes on new features, token burning, and general direction. Neither Tezsure nor DGHLabs will have exclusive control over the direction the platform will be taking.

Josef Holm, Founding Partner at Draper Goren Holm, said, “I hope Plenty creates that initial snowball effect for DeFi in onboarding capital from other networks to Tezos. Plenty was designed with the modern-day user in mind, taking advantage of the network’s low gas fees and energy efficiency by design – it’s perfect for the next wave of mass adopters.”

DGH Labs is a Dubai-based blockchain incubator powered by Draper Goren Holm – a leading venture studio and fund by Tim Draper, Alon Goren, and Josef Holm. The push towards Tezos came after a fervent interest from its ecosystem and external sources. At press time, Tezos was trading for $7.1 with a total market cap of $6.09 billion. The latest bear run impacted the daily trading volume by bringing it down by a whopping 24 percent.

Google’s Analytics Platform To Elevate The Tezos Blockchain With Its Latest Collaboration

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Several mainstream companies have been venturing into the crypto industry or engaging in partnerships. While several of Google’s programs have partnered with crypto platforms, a new member has found its way into the list. The prominent crypto platform, Tezos revealed that it had joined forces with Google’s analytics platform in a recent blog post.

Tezos Partners With BigQuery

Recently, Tezos revealed that it had integrated the platform’s public finance dataset into BigQuery, an analytics platform by Google. The functionality of the nodes present in Tezos is said to revamped as BigQuery will reportedly take things up a notch steering away from the usual operations like rendering to the simplistic queries about addresses as well as transactions.

Elaborating on the operations of BigQuery, Corey Soreff, the Board Member at Tezos Commons, the non-profit organization that runs the Tezos network, stated,

“You can think of it like a massive indexer that allows you to perform powerful data analysis. You are also able to perform the same or similar queries on multiple blockchains at once and compare them, or track inter-chain activity on interoperable tokens such as TzBTC.”

With this latest incorporation, Tezos would be able to keep an eye on data pertaining to gas costs, smart contract’s calls as well as activity, audit trails, discover the popularity and the activity of tokens, contracts, or applications on the Tezos blockchain along with several other possibilities.

Google has a long history of partnering with the crypto-verse. Even though the tech company hasn’t revealed plans of rolling out its own cryptocurrency, Google has been spearheading several blockchains as well as crypto-based projects.

Speaking about the platform’s collaboration with Google, Soreff wrote in the blog post,

“It has been a pleasure to work with Allen Day and the rest of the Google Cloud team on this project, as well as the founder of the Blockchain ETL project Evgeny Medvedev and his team at Helix Technologies, whom we recommend to any project looking to implement their own ETL and BigQuery integration.”

Tezos’ partnership with Google Cloud could act as a much-required boost to the network.

Chinese National Blockchain Network Officially Rolls Out a Global Website for Global Developers

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The first china’s national blockchain network, the Blockchain Service Network (BSN), has officially launched a global website. The new English version of the BSN Global website, launched on August 10, aims at helping to attract global developers to the initiative.

According to the CEO of Red Date Technologies, He Yifan, the new global website will enable international developers to access BSN services and public services through the site. Red Date Tech is a Chinese Firm, one of the founding members of the Blockchain-based Service Network.

Chinese national blockchain network ramping up global expansion

Moreover, Blockchain Service Network now hallmarks live consolidation of six public blockchains as part of its global expansion initiative. The public blockchain networks featured in Blockchain-based Service Network include Ethereum, Tezos, EOS, IRISnet, Nervous and NEO. The integration of these chains allows developers to create DApps, operate nodes via data storage and bandwidth at foreign BSN data centers. 

The new global website suggests that BSN is preparing to deploy the “Interchain Communication Hub “through the IRITA Interchain Service Center and the Chainlink Blockchain Network later in October of this year.

In addition, the new BSN website reveals several high-profile international tech and blockchain companies as partners with BSN. The companies listed as partners include Amazon Web Services, Google as cloud service providers, while Hyperledger is outlined as a blockchain supply partner. According to Yifan, BSN has great support from a number of high-profile cloud service providers because the idea and vision of the blockchain initiative are appealing.

Blockchain-based Service Network aims to integrate 100 public chains

The state-backed BSN network aims to avail tools for developing blockchain applications to developers, acting as a blockchain hosting hub for small enterprises and businesses. The network has already had a substantial effect since its official launch back in April, with more than 6,000 registered users. 

The majority of the users of the Chinese national blockchain network are government agencies, enterprises and people living in China. According to a report by Bloomberg last month, the BSN is determined to integrate over 100 public chains in 2020. The network currently has just six public chains integrated.