Weekly Updates

Q&A with camlCase Founder Tyler Clark

This week, we caught up with camlCase founder Tyler Clark to discuss the camlCase team’s work on DEXter and their newly-renamed mobile wallet, Magma (formerly Phoenix), why they chose Tezos, and what he looks forward to in the ecosystem. Check it out!

For those that are not aware – can you give us a short overview of DEXter?

Dexter is a decentralized exchange similar to Uniswap, which executes trades between XTZ and FA1.2 tokens. Instead of an order book, Dexter uses an automated market maker. Liquidity is added to a common pool for each XTZ/FA1.2 token pair, and the exchange rate is determined by a constant product formula. Anyone can become a liquidity provider and earn a return from the fees generated by trades. All of this takes place entirely on-chain.

What about Phoenix?

We’ve actually renamed this project to Magma, as there is already a wallet named Phoenix. Magma is a non-custodial mobile wallet for Tezos, and it’s natively integrated with Dexter.

There are a lot of blockchain projects out there – why did you decide to build these projects on Tezos?

We think Tezos has a good chance to be one of the two or three dominant blockchains long-term, primarily because of how its on-chain governance works. It aligns incentives among different groups really well. Protocol level development is encouraged with inflation funding, and token-holders are incentivized to vote in the proposals which increase the value of the network. Also, these upgrades happen seamlessly, without the need for a hard-fork. It’s all very elegant.

What are the three things that you are most excited to see built on Tezos?

Sapling – The Nomadic team gave an AMA on Reddit recently and it looks like this will be part of their next proposal. Anonymous transactions will open up many new use cases for Tezos.

Checker – From what Arthur has shared, it sounds like Checker will be similar to Maker DAO, but actually decentralized! I think it will be a fundamental component of a DeFi ecosystem on Tezos.

DeFi Dapps – We would love to see more DeFi products on Tezos, especially something like Compound.

Additional Ecosystem Updates:

 

FAQs

We have seen your current approach is pushing grants (thus responsibilities), but how about building a tooling dev team under Tezos Foundation to make an official Tezos Wallet? Related to that question, how about TF funding another entity like Nomadic Labs, but with the sole responsibility of maintaining the widely used apps and tools in the Tezos ecosystem once the development gets abandoned (e.g., tezbox, kiln etc.)?

The Foundation currently deploys substantial resources to ecosystem grants to enhance tooling and applications within the Tezos ecosystem and will continue doing so. That being said, the Foundation does not have plans to build its own development team, as its primary purpose is the promotion of the Tezos protocol through grants and other capital deployment vehicles to entities within the Tezos ecosystem.

 

It feels like the current grant structure of having a grant cycle each quarter is too long. Has there been any thoughts on implementing Fast-Track small grants as well?

The Foundation is constantly evaluating the grant process to ensure that grants work to promote the long-term success of the Tezos project. The current process is designed to give the Foundation adequate time to perform due diligence to ensure that the deployed resources add proportional value to the Tezos ecosystem. In some circumstances, when projects are of significant importance to the Tezos ecosystem, the Tezos Foundation will push applications through an out-of-cycle process. It is important to note that although these applications are expedited, they undergo the same due diligence process and require the same approvals.

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