Weekly Updates

Update: Week of 2 September 2019

Dear Tezos community, The summer may be coming to a close but the work of the Tezos community continues full steam ahead. This quick snapshot of September events from Tezos Commons highlights many of the Tezos events to be excited for this month:

It is incredibly exciting to see the Tezos community grow in so many different places around the world and I look forward to seeing where new communities sprout up in the future.

In addition to these events happening around the world this month, the global Tezos community is getting closer to a final decision on the Babylon 2.0 proposal, which is currently in the Testing Period of the Tezos amendment process. For more information about Babylon 2.0 (and future amendments), join the discussions happening on Agora – a governance explorer and discussion forum for Tezos, developed by TQ and Tezos Commons.

Best regards,

Grantee Updates

Below are some updates on our grantees and other funded entities from the last week:

  • Tezsure launched Tezster, a testing tool for Tezos. It currently comes as a CLI and can interact with local nodes and the Tezos alphanet.
  • Tulip Tools is now hosting snapshots for all Tezos networks via IPFS to make it even faster to run a Tezos node.
  • Tezos Korea signed an MOU with Hexlant, a prominent blockchain technology institute, to discuss technical cooperation on operating Tezos nodes and running a custody business with financial institutions.
  • Tezos Southeast Asia will be attending the ACCA Tech Symposium next week.
  • Truffle gave a sneak peak into their work on Tezos integration to Truffle Suite.
  • Cryptium Labs launched a research and development blog. Check out some of the posts on Tezos here.
  • TQ Tezos published an update on the 1,000 New Tezos Developers initiative on their blog.
  • Gabriel Alfour of The Marigold Project started a thread on Agora discussing Plasma, a scaling technique, and different approaches to implement it on Tezos.

Our Activities

The Foundation’s work continued last week as we continued to finalize the latest cohort of ecosystem grants and monitored the assets under the Foundation’s control. In addition to those regular administrative duties, we are:

  • Putting final touches on the password recovery tool. As you can imagine we take this tool very seriously as it deals with sensitive information. We appreciate your patience and it should be released next week.
  • Evaluating options for additional team members to join the Foundation.

FAQs: What happened to the “$50M Venture Capital for Developers and Startups” that was announced in August of 2017?

The previous council of the TF announced in August of 2017 that it would allocate $50M of venture capital for Tezos developers and startups. In the first part of 2018, the new council evaluated the situation and established its priorities. As you can imagine, our top priority and focus was to deploy resources to support the launch of the Tezos betanet.

In addition to the launch of the first production network, another priority was to deploy resources throughout the community to further the Tezos ecosystem. An initial strategy statement was released in June of 2018 which highlights that grants would be an important part of the Foundation’s role in the ecosystem. Significant funds have been deployed since then to support developers and others throughout the community. Last month the Foundation’s first Biannual Update was published which highlights that USD 37.4M has been committed to the following areas: Research, Education, & Core Development; Community Initiatives; Ecosystem – Tools & Applications. For more details on the Foundation’s grantmaking efforts, please see the biannual update. All this is laying the groundwork for further development and startup growth on Tezos.

As we see the emergence of a first major use case, asset tokenization and, in particular, Security Token Offerings (STOs) on Tezos, we are exploring additional funding mechanisms to support the growth of the Tezos project in this area as well as other key areas of focus as they develop. Indeed, the biannual update not only mentions grants but also “other capital deployment vehicles” as a means of funding. We are open to deploying funds in a variety of ways for a variety of use cases and will continue to explore the most effective way to further the Tezos project and ecosystem.

How does the Tezos Foundation vote on proposed amendments to Tezos?

The Foundation does not upvote any proposals during the Proposal Period. Additionally, the Foundation votes “Pass” (meaning explicitly abstaining) rather than “Yea” or “Nay” during the Exploration Vote Period and Promotion Vote Period to remain neutral during the amendment process. This contributes to the required quorum and further elevates the voices of other members of the Tezos community. Learn more about the Tezos amendment process here.

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