Exchange platform Bittrex Global has revealed that it is working on integrating and listing FA1.2 and FA2 tokens on Tezos. Thanks to its efficiency and energy efficiency, the move epitomizes Tezos’ growing appeal among major institutions. Additionally, Tezos has been experiencing a spike in user activity over the past year. For instance, smart contracts have tripled to over 600,000 during that period.
FA1.2 and FA2 are different token standards that support the creation of unique assets for utilization on various projects on DeFi, NFTs, DAOs, and more. As a result, the integration of FA1.2 and FA2 by Bittrex would enable the platform to support transactions involving different tokens operating on the Tezos blockchain.
The decision by Bittrex Global to target tokens on the Tezos ecosystem will certainly increase the number of assets on the platform. Bittrex conducts thorough background checks on tokens before listing them. The due diligence covers token distribution, the background of project founders, project roadmap, and community engagement, among other factors. This helps safeguard users from losing their money to rug pulls and other fraud schemes.
Tezos is a proof–of–stake blockchain, focusing on community engagement to provide a secure, fast, cheap, and environmentally-friendly transaction platform. It has an on-chain governance mechanism, where the community can vote on improvement and development proposals. Tezos has its native blockchain, XTZ.
Bittrex Global is one of the world’s leading digital assets exchange platforms. It supports trading in more than 250 digital assets. Furthermore, the platform supports institutional investors who are keen on leveraging the benefits of the crypto markets. It provides a multi-wallet option, which is rare in the market.
Bittrex has a user-friendly interface to make it easier for new traders to navigate their way through the platform. Furthermore, it supports the growth of projects by providing an avenue through which developers can raise funds for the most creative and innovative projects. Therefore, projects with high potential can launch their IEO and attract the attention of investors.
Tezos (XTZ) has risen by 5.32% in the past 24 hours, to trade at $4.16 at 0244 GMT. The gain follows yesterday’s gain of 2.69%. The crypto market is on the rebound, and the XTZ weekly chart has formed a cup and handle pattern. Therefore, it is likely that the token could rise significantly in the coming days.
This post was last modified on Feb 15, 2022, 15:04 GMT 15:04