Plenty :: TEZ based pairs can now be created on plenty.network
February 24, 2023The DeFi ecosystem on Tezos has been growing at an astonishing rate, and Plenty has been at the forefront of this growth. After an incredibly successful launch of the all-new Plenty, the team has been hard at work, and today we are excited to announce some new developments.
TEZ/Token Pairs can now permissionlessly be deployed on plenty.network
We are thrilled to announce that Plenty Network has enabled the creation of TEZ/token pairs. These pairs can be fully integrated with the vote escrow (ve) system of Plenty, after request. While CTEZ pairs have always been a priority for Plenty, due to their composability and decentralized nature, the team has heard the request from the community to introduce TEZ based pairs.
Who is Baking?
All TEZ pairs on Plenty are delegated by default to the newly launched private Plenty bakery. Plenty has been a long-time contributor to the Tezos ecosystem, and it was time to become more active in the most important process of upgrades and governance. We are thankful to the Tezos Foundation for facilitating a loan to enable this.
At the same time, the team has been trying to figure out ways to generate revenue and build a long-term Plenty treasury, which can keep growing the Plenty ecosystem for the next years to come.
The team arrived at the conclusion that its in the best interest of both the community and the team to delegate all TEZ pairs to our new private Plenty bakery. A fixed fee for both Plenty Labs and the Plenty treasury will help the Plenty team to continue to build the Tezos DeFi ecosystem.
How are Baking Rewards Going to be Split?
The baking rewards will be split as follows:
25% Plenty Labs15% Plenty Treasury60% bribes
The majority of the baking rewards will be given in the form of bribes to Plenty users.
What if I Want to Keep 100% of My Baking Rewards?
If you want to keep 100% of your baking rewards and still use Plenty, we encourage you to use CTEZ. Ctez was specifically designed to tackle the issue of “Who is baking?”.
What is happening to the TEZ/CTEZ pool?
The liquidity pool will be delegated to the Plenty bakery and will follow the same baking reward split as the new TEZ-based pools.
Final Thoughts
Plenty Labs is committed to enabling and scaling Tezos DeFi in its truest form — unstoppable. The team has been working tirelessly to deliver on this promise, and today’s announcement is just one of the many steps they are taking to achieve this goal. The addition of TEZ/token pairs on Plenty will provide users with more options and flexibility, and the split of baking rewards will help the Plenty treasury keep growing, ensuring the longevity of the ecosystem.
About Plenty
The Plenty team is building an all-in-one decentralized platform on Tezos. Plenty allows swaps on uncorrelated assets, and low-cost, near 0 slippage trades on tightly correlated assets. Plenty also features a built-in bridge from Ethereum and Polygon to Tezos.
Website: plenty.network
Discord: discord.gg/plentynetwork
Twitter: twitter.com/plenty_network
TEZ based pairs can now be created on plenty.network 💜 was originally published in Plenty on Medium, where people are continuing the conversation by highlighting and responding to this story.
