On June 24, 2023, at block #3,760,129, the Tezos community ushered in a new era with the seamless activation of its 14th protocol upgrade, Nairobi.
This successful launch not only brought along exciting improvements and capabilities for the Tezos protocol, but also marked the debut of the Tezos Ecosystem DAO, a new trailblazing initiative designed to foster further growth and development within the Tezos ecosystem.
Nairobi: A Leap Forward for Tezos
The 14th protocol upgrade, Nairobi, is a product of a collaborative effort by an array of development teams, including Nomadic Labs, Marigold, TriliTech, Oxhead Alpha, Tarides, DaiLambda, and Functori.
Their collective effort underscores the spirit of cooperation and shared vision that characterizes the Tezos community.
Below is a breakdown of the key enhancements brought about by the Nairobi upgrade:
- 8x Increase in Transaction Throughput: Nairobi introduces an up to 8x increase in transactions per second (TPS) for a variety of operations, including transactions, smart contract calls, Smart Rollup maintenance operations, and other manager operations. This substantial surge in TPS is attributable to an improved gas model for cryptographic signatures, significantly enhancing the scalability and efficiency of the Tezos blockchain.
- New Functionality for Smart Rollups: With Nairobi, Smart Rollups are given a functionality boost, incorporating new host functions and internal Layer 2 messages. These additions enable rollup kernels to synchronize with future Tezos protocol upgrades seamlessly.
- Endorsements Renamed as Attestations: The protocol upgrade replaces the term ‘endorsements’ with ‘attestations’, providing a clearer and more precise terminology for the users.
- Faster Pre-attestation Propagation: Nairobi also enhances the speed of pre-attestation propagation, enabling faster consensus within the network.
This transformative upgrade once again proves Tezos’s unwavering commitment to innovation and its resilience to adapt to the ever-evolving world of blockchain technology.
Tezos Ecosystem DAO: A New Way to Foster Growth
Alongside the Nairobi upgrade, the Tezos community has welcomed the birth of the Tezos Ecosystem DAO.
This innovative proof-of-concept Decentralized Autonomous Organization (DAO) seeks to streamline on-chain treasury management and fund deployment for various initiatives within the Tezos ecosystem.
The Tezos Ecosystem DAO is designed to:
- Curate, vote on, and distribute tez for funding requests from the Tezos community
- Provide a rapid and streamlined funding process compared to traditional grant procedures
- Operate with complete transparency, with all activities publicly visible
The DAO allows for any community member to submit initiative applications, which, once approved, are executed and funded.
Community members can submit initiative applications via Tezos Agora, these will then be curated by Tezos Commons and proposed to the DAO on-chain.
The DAO operates on the Tezos Homebase platform, providing full transparency with all activity publicly visible. A three out of five multisig setup governs the DAO, with keys currently held by the participating organizations.
The DAO is initially governed by a three-out-of-five multisig setup, with keys held by Tezos Commons, Trilitech, Tezos Domains Foundation, Tezos Foundation, and Tezos India Foundation.
Initial DAO Funding
The initial source of the DAO’s treasury comes from the sale of Tezos protocol upgrade memorabilia in the form of Non-Fungible Tokens (NFTs) on Objkt.com.
This innovative funding model enables the Tezos community to contribute directly to the ecosystem’s growth and development. By purchasing these NFTs, users are not only acquiring a piece of Tezos’ history but also helping to fund future initiatives. The treasury can potentially explore other sources of funding in the future as the DAO evolves and expands.
Felipe Vargas, a renowned motion designer and illustrator, has created limited NFTs for the Tezos protocol upgrade memorabilia collection. The funds raised through the auction of these NFTs will help to support the DAO and its initiatives.
To celebrate the launch of Nairobi and the DAO, Tezos is offering open edition, silver, and gold collectible memorabilia on Objkt.com, with all funds going towards the experimental DAO.
In the future, the DAO may evolve into a fully-fledged on-chain treasury, potentially controlled by the Tezos bakers.
These significant developments mark a milestone in Tezos’s journey, demonstrating its relentless commitment to continuous evolution and growth as a leader in the blockchain space.
Disclaimer
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.
Read our full disclaimer here.
