Tezos Defi partnership: USD Tez Project and Tokensoft

Tezos Defi partnership: USD Tez Project and Tokensoft

By Allen Walters | Publish0x posts | 3 May 2020



This partnership sets the stage for the launch of Tezos' first stablecoin to be expected this weekend: USDtz. USDtz is not just your average stabelcoin, it's part of a DeFi ecosystem that is about to be released in phases on Tezos. Therefore USDtz is being launched as a security and will need to be released through a platform that can enforce regulations. (Some people ague that DAI should be treated as a security too). Tokensoft is such a platform. "TokenSoft is the leading technology platform for companies seeking to issue and manage digital securities on the blockchain, at scale, and within compliance."

About USDtz:
USDtz is a stablecoin with DAO features that is part of a DeFi ecosystem. USDtz is part of the StableTez project, which includes EUR, BTC and Gold-pegged stablecoins. StableTez will be used in TEZEX, the Tezos Liquidity Exchange. "Over time, TEZEX will list more and more Tezos-based stable-coins, each pegged to a the values of different currencies, respectively. Effectively, this also means that TEZEX will be eventually able to facilitate a Tezos on-chain representation of FOREX global currency trading." TEZEX will fully run on the Tezos blockchain. The next piece of the puzzle will be TezFin. Which will enable on-chain savings and loans.

"Borrow: Soon you'll be able to borrow Tez (XTZ), USD Tez (USDtz), BTC Tez (BTCtz), and other Tezos-tokens at a floating interest-rate APY, under bond-terms that are blockchain-enforced. Know what you're getting into by borrowing what you need through a Tezos smart-contract.
Earn: Collect interest earnings at a formally-verifiable floating-rate APY, simply by supplying your token holdings to TezFin.. Just like earning interest from deposits to a bank CD or savings account. Your tokens will, of course, be staked across a distributed pool of independent and trusted bakers."

Read more about USDtz specifics here. 

About Tokensoft and Tezos:
Tokensoft has already partnered with Tezos last year, implementing Tezos' tokenstandard FA-1.2, which enables Tokensoft to issue STO's on the Tezos blockchain. With over $3 billion in future value to issue onto blockchain STO's, Tokensoft can be considered to be a big player in the STO game as an issuing platform. 

TokenSoft is "projecting that within the next year, 25–35% of the amount processed through our platform will be on the Tezos blockchain. Currently our clients have processed half a billion through our platform, and they are currently seeking to issue $3 Billion+ onto the blockchain." Which comes down to about $1 Billion. 
Tokensoft bases this prediction both on their customers expressing their interest in Tezos as a basis for their tokens, and as well as Tokensoft's enthusiasm for the technical aspects of Tezos. Tokensoft explains why they see Tezos as an interesting blockchain to launch STO's on:

The Tezos blockchain provides a high level of security and resilience to the security token market:

Institutional Grade Smart Contracts - The Tezos blockchain facilitates formally verified smart contracts, the same methodology used to ensure safety in mission critical settings, such as in aerospace technologies and the $500 billion semiconductor industry.

Secure Custody - A formally verified multisignature contract is now included natively within the Tezos client software. This enables cold storage deployment and management of smart contracts for the highest level of security.

Familiarity - The FA1.2 managed ledger standard includes some functionality inspired by ERC-1404, making it possible to enforce requirements on a jurisdictional basis when it comes to banking, securities and tax regulations.

Upgradability - Tezos includes a formal mechanism by which stakeholders can upgrade the protocol. This enables Tezos to smoothly adopt new technical features and stay at the cutting edge.

--
For the full introduction on Tezos, read this article.
--
Appreciate this info?

Tezos address for motivational tips:tz1RTdcgzedPYthw1GHnDKHx2WCWZefZovjD

How do you rate this article?


41

0

Allen Walters
Allen Walters

Fascinated by blockchain and future proofing cryptocurrency. Discover the tech before it gets relevant. Twitter: @IgnoranceIt


Publish0x posts
Publish0x posts

Posting my opinion and feedback on Publish0x here.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.