OpenPad Integrates with Tezos (XTZ), Enhancing Decentralized Crowdfunding

OpenPad,
a
decentralized
launchpad
platform,
has
officially
integrated
with
the
Tezos
(XTZ)
blockchain,
according
to

Tezos
Spotlight.
This
integration
aims
to
enhance
the
platform’s
ability
to
support
new
projects
through
decentralized
crowdfunding
and
AI-driven
development
tools.

OpenPad
Integration
with
Tezos

OpenPad
provides
a
comprehensive
ecosystem
for
new
projects
in
the
web3
space,
offering
tools
like
token
sales,
NFTs,
and
an
in-house
incubator
to
transform
creative
ideas
into
tangible
outcomes.
The
platform
includes
an
investor
portal
with
a
range
of
features
such
as
wallet
management,
market
tracking
tools,
token
offering
schedules,
social
engagement
tools,
and
AI
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
they
connect
their
wallets.
OpenPad
also
enforces
a
strict
KYC
process
for
all
project
owners
and
investors,
ensuring
compliance
and
security
for
upcoming
token
sales
and
IDO
applications.

Commitment
to
Etherlink

Beyond
integrating
Tezos,
OpenPad
has
announced
its
commitment
to
building
on
Etherlink,
an
EVM-compatible
layer-2
smart
rollup
technology
on
Tezos.
Etherlink
promises
high-speed
transactions
with
nearly
zero
fees
and
rapid
data
posting
times,
making
it
a
robust
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
deploying
on
the
network.

Etherlink’s
smart
rollups
are
“enshrined”
within
the
Tezos
layer-1
consensus,
inheriting
its
security
properties
and
enhancing
trust.
These
rollups
offer





scalability
by
offloading
computation
and
submitting
only
results
and
validity
proofs
to
the
Tezos
network,
thereby
increasing
transaction
throughput
and
reducing
risks
like
censorship
and
maximal
extractable
value
(MEV).

Implications
for
the
Tezos
Ecosystem

The
integration
of
OpenPad
with
Tezos
opens
a
new
funding
route
for
upcoming
projects
on
the
blockchain.
With
over
$11.2
million
already
raised
through
the
platform
and
more
than
7,500
registered
KYC
users,
this
development
is
a
significant
milestone
for
the
Tezos
ecosystem.
The
commitment
to
building
on
Etherlink
further
underlines
this
progress,
offering
new
projects
the
resources
they
need
to
succeed.

Image
source:
Shutterstock

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