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OpenPad integrates with Tezos (XTZ), improving decentralized crowdfunding
OpenPad, a decentralized launchpad platform, has officially integrated with the Tezos (XTZ) blockchain. Spotlight on Tezos. This integration aims to improve the platform’s ability to support new projects through decentralized crowdfunding and AI-based development tools.
OpenPad integration with Tezos
OpenPad provides a complete ecosystem for new projects in the web3 space, offering tools such as token sales, NFTs, and an internal incubator to turn creative ideas into tangible results. The platform includes an investor portal with a range of features such as portfolio management, market monitoring tools, token offering programs, social engagement tools and artificial intelligence recommendations.
To access these features, users must connect their wallets to the OpenPad site. The platform supports various wallets, including Tezos, which users can select once their wallets are connected. OpenPad also applies a rigorous KYC process for all project owners and investors, ensuring compliance and security for upcoming IDO token and application sales.
Commitment to Etherlink
In addition to integrating Tezos, OpenPad announced its commitment to build on Etherlink, an EVM-compatible layer-2 intelligent rollup technology on Tezos. Etherlink promises high-speed transactions with near-zero fees and fast data publication times, making it a solid solution for a variety of blockchain applications. As one of the first builders on Etherlink, OpenPad aims to provide crucial funding avenues and support for new projects to be deployed on the network.
Etherlink smart rollups are “enshrined” within the Tezos layer 1 consensus, inheriting its security properties and improving trust. These rollups deliver scalability offloading the computation and sending only results and proofs of validity to the Tezos network, thus increasing transaction speed and reducing risks such as censorship and maximum extractable value (MEV).
Implications for the Tezos ecosystem
The integration of OpenPad with Tezos opens a new financing avenue for upcoming blockchain projects. With over $11.2 million already raised through the platform and over 7,500 registered KYC users, this development represents a significant milestone for the Tezos ecosystem. The commitment to build on Etherlink further highlights this progress, giving new projects the resources they need to succeed.
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