Summary: Plenty, a decentralized exchange on the Tezos blockchain, has teamed up with Tezos Domains to ensure a successful launch of the Tezos Domains (TED) token. The partnership aims to empower the Tezos ecosystem and drive innovation in the NFT market, offering fast, secure, and low-cost trading services.
Tezos Domains to transition to a DAO governance model
Decentralized exchange and automated market maker platform Plenty has partnered with Tezos Domains to facilitate the launch of the Tezos Domains (TED) token. Tezos Domains is an essential part of the Tezos ecosystem and plays a key role in the growing non-fungible token (NFT) market.
The TED token launch will enable Tezos Domains to transition to a DAO governance model. Similar to Plenty’s successful airdrop method during its own launch, the Tezos Domains team plans to distribute the TED token to the community.
Plenty is a Dex & AMM platform built on the Tezos blockchain that offers fast, secure, and cost-effective trading services for various digital assets, including NFTs. Its aim is to empower Tezos users by providing greater control over their assets through its trading services.
Tezos Domains is a domain registrar and hosting service on the Tezos blockchain. It offers secure, decentralized, and censorship-resistant domain names and websites for Tezos blockchain users. With the introduction of the TED token, Tezos Domains is transitioning to a DAO governance model, allowing for community-driven decision-making and development.
Through the partnership, Plenty will feature TED bribes and pools on its platform, with enhanced PLY bribes for the first two weeks of the token’s launch. These incentives aim to encourage liquidity and trading volume. Tezos Domains will utilize the Plenty platform to offer TED bribes that incentivize market-making and liquidity growth for the TED token, benefiting both existing and new token holders. Additionally, Plenty will introduce a bribe for TED token pools in PLY and Tez, making the TED pools the most rewarding in the market.
Bernd Oostrum, Co-founder of Plenty Labs, highlighted the importance of patnership to boost the Tezos ecosystem and drive innovation in the NFT market.
Andrew Paulicek, Co-founder of Tezos Domains, also emphasized the significance of collaboration in strengthening their market position and fostering growth and innovation within the Tezos ecosystem.
The TED token will launch with initial liquidity exclusively on the Plenty exchange, ensuring a solid foundation for trading. Its listing on Plenty will enable immediate availability on major price-tracking platforms, including Coingecko. Additionally, the Plenty team will assist in launching a Plentyv3 pool for the TED token, increasing capital efficiency and making trading more lucrative, even with relatively smaller liquidity.
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