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Home»ADOPTION NEWS»OpenPad integrates with Tezos (XTZ) to strengthen decentralized crowdfunding
ADOPTION NEWS

OpenPad integrates with Tezos (XTZ) to strengthen decentralized crowdfunding

By Crypto FlexsJune 1, 20242 Mins Read
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OpenPad integrates with Tezos (XTZ) to strengthen decentralized crowdfunding
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According to Tezos Spotlight, decentralized launchpad platform OpenPad has officially integrated with the Tezos (XTZ) blockchain. The integration aims to improve the platform’s ability to support new projects through decentralized crowdfunding and AI-based development tools.

Tezos and OpenPad integration

OpenPad provides a comprehensive ecosystem for new projects in the web3 space, providing tools such as token sales, NFTs, and an in-house incubator to transform creative ideas into tangible results. The platform includes an investor portal with a variety of features such as wallet management, market tracking tools, token offering schedules, social engagement tools, and AI recommendations.

To access these features, users must link their wallet to the OpenPad site. The platform supports a variety of wallets, including Tezos, which users can choose from after linking their wallets. OpenPad also enforces a strict KYC process for all project owners and investors to ensure compliance and security for future token sales and IDO applications.

Commitment to Etherlink

Beyond Tezos integration, OpenPad has announced its commitment to build Etherlink, Tezos’ EVM-compatible layer 2 smart rollup technology. Etherlink promises virtually zero-fee high-speed transactions and fast data publishing times, providing a powerful solution for a variety of blockchain applications. As one of the first builders of Etherlink, OpenPad aims to provide a critical funding avenue and support for new projects being deployed on the network.

Etherlink’s smart rollups are “enshrined” within the Tezos layer-1 consensus, inheriting security properties and reinforcing trust. This rollup provides: scalability By offloading computation and submitting only results and proof of validity to the Tezos network, you increase transaction throughput and reduce risks such as censorship and maximum extractable value (MEV).

Implications for the Tezos Ecosystem

The integration of OpenPad and Tezos opens up new funding avenues for future blockchain projects. With over $11.2 million already raised through the platform and over 7,500 registered KYC users, this development is a significant milestone for the Tezos ecosystem. Our efforts to build on Etherlink further highlight this progress and provide new projects with the resources they need to succeed.

Image source: Shutterstock

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