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Tezos Monthly Contract Calls Set Another Record As Daily Deployments Double

Tezos has recorded a new monthly contract call record, with contract calls for the month of February surpassing 100,000. Contract deployments have doubled and Tezos has surpassed 1 million funded accounts.

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Tezos Contract Calls

The monthly amount of contract calls on Tezos mainnet crossed the 100,000 barrier in February, which is an increase of 37%.  In the past 9 months these metrics have continued to show substantial growth. 

Contract calls are smart contract interactions, so these metrics are a great way to show on-chain growth in adoption.

Developer Activity

Developer activity both on mainnet and on the two testnets that are currently live, showed a huge spike in developer interest in February.

An average there were 2,400 contract deployments per day with 480 total deployments to mainnet in February. In January this was an average of 930 deployments per day and the month before we saw 700 daily deployments.

This month’s growth comes down to an increase of 258% compared to last month. Very positive for the future growth of the ecosystem as a whole.

1,000,000 Funded Accounts

As expected, this milestone has been reached. In February, Tezos broke the barrier of 1,000,000 funded accounts.

Most Popular Applications

This month we’ve seen TzColors take off in an unexpected but very successful way. NFT’s of simple plain colors were sold for several thousand dollars per NFT.

Apparently bidding on auctions can be fun if transaction costs are low. Placing a bid on TzColors only costs about $0.01, which makes it no big deal if you are out outbid in a later stage.

The algorithmic stable coin kUSD was launched and can be used on Atomex, a Tezos-based Hybrid exchange.

kUSD allows you to mint kUSD after you’ve put up XTZ as collateral. In under 2 weeks, close to 300,000 kUSD was minted and about $1,250,000 in XTZ is currently locked up as collateral. 

On the 1st of March a new NFT application Hicetnunc launched the ability to sell, buy and swap Tezos-based NFTs on its website.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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