Welcome to this week’s edition of The Baking Sheet! We're excited to bring you the latest updates from across the Tezos ecosystem as we continue to explore new developments, proposals, and community insights. Buckle up, Tezos enthusiasts—it’s been an eventful week!

In our last edition, we covered the exciting momentum behind the Qena proposal. However, while Qena made it through the exploration phase, it just fell short of the required 80% supermajority to advance to the next phase. It garnered a commendable 77.34% supermajority and exceeded the required quorum, with over 63% participation from bakers—well above the necessary 51.7% threshold. But since it didn’t hit that critical supermajority mark, Tezos' governance process reset to the proposal phase.

Now, we're back in action with Nomadic Labs, Functori, and Trilitech wasting no time in introducing the latest Quebec proposal, Quebec v2. This fresh proposal takes the foundational ideas of Quebec B and introduces a key adjustment requested by bakers: raising the limit for external staking from 5x to 9x. But that’s not all. Here’s a quick breakdown of what the Quebec v2 proposal brings to the table:

Quebec v2 Features:

• 8-Second Block Time: Building on the success of the 10-second block time, Quebec v2 reduces it even further to 8 seconds, bringing us closer to a low-latency future.

• Adaptive Maximum Issuance: Modifies the adaptive issuance mechanism to prevent excessive tez issuance when the staked ratio hovers just below the target.

• Reduction in Delegated Funds Weight: Adjusts the baking power calculation so that delegated funds count for only 33% of their nominal value (down from 50%).

• Amended Computation of Delegation Rights: Fixes issues with baker's delegated rights to improve user experience and address dilution concerns.

• 9x Limit on External Staking: Bakers can now accept external staking up to 9x their own stake, compared to the current 5x limit. This change allows for more flexibility while still keeping security and decentralization intact.

In addition, to prevent any malicious behavior where bakers exploit staking for denunciation rewards, the proposal adjusts the rewards from 1/7 to 1/11 of the slashed amount. This ensures bakers don’t profit from bad behavior while encouraging external staking growth.

But that’s not the only proposal on the table! Baking Benjamins responded swiftly with an updated Qena42 proposal, further refining the ideas from the original Qena:

Qena42 Highlights:

• Security-First Approach: Maintains the focus on keeping network security the top priority.

• 42% Staking Target: Lowers the target staking ratio from 50% to 42%, stopping the rise in issuance once the staked ratio hits 40%.

• Delegation Power Cut: Reduces the delegation power to 1/3, further encouraging direct staking participation.

• Keeps Quebec’s Key Features: Except for the new curve adjustment, Qena42 retains all the technical updates introduced in Quebec v2.

Currently, with just one week remaining in the proposal phase, the competition is heating up. As of now, Quebec v2 is leading the charge with over 64 million votes, while Qena42 trails with 6.86 million votes. However, in the Tezos community, we know that anything can happen in the final days!

Reminder for Bakers:

With one week left to vote, we encourage all bakers to cast their votes and actively shape the future of Tezos. You can track the voting progress and learn more about both proposals on Tezos Agora.

To upvote the Quebec v2 proposal, you can use the following command:

octez-client submit proposals for <baker_alias> PsQuebecnLByd3JwTiGadoG4nGWi3HYiLXU

And for the Qena42 proposal:

octez-client submit proposals for <baker_alias> PsQEna427TJJ2dYatjWS12qKihty5huvBDmNHNAgCeTzWCpF673

Let’s continue to push Tezos forward and shape its future through these exciting governance decisions!

This Week in the Tezos Ecosystem

The heart of any thriving ecosystem is its community, and Tezos is no different. That’s why we’re excited to kick off This Week in the Tezos Ecosystem by spotlighting the September 2024 winners of the Tezos Commons Community Rewards Program (CRP). Whether you’re building, creating, or just being a positive force in the space, this program is a way to recognize and reward those who are making a meaningful impact on the Tezos ecosystem.

For those unfamiliar, the CRP is a monthly initiative aimed at fostering growth, adoption, and collaboration across the Tezos ecosystem. It rewards community members who go above and beyond in various areas, from development to education, content creation, and more. Each month, up to 5,000 tez is distributed across several categories to recognize outstanding contributions.

The best part? Nominating someone has never been easier. You can now complete the form in under 30 seconds with only three questions or tag any message with #TezosCRP on Discord, Reddit, or Twitter, and the Tezos Commons team will gather it up for you!

Without further ado, let’s give a huge round of applause to the following September CRP winners:

• Assimilation Award@spike_0124, @InvisibleChicks, @UnknownCo123

• Formal Verification Award@unrealb0x

• Helping Hand Award@SkullDegenClub_, @siftcroix, @libertez_baker

• Influencer Award@TheTezos, @Albert_1Camus, @Tez_Town

• Patissier Award@TezCapital, @Zir0h, @asbjornenge

• TEO Award@_TransparentArt

• Tez Dev Award@JackTezos, @DOGGODOG_lab, @Vivien_0xtz, @alisis_official

• Tezos Tutor Award@TezberryPie, @TezosNFTMusic, @LMTGT_, @moneyevery3days, @captstake

Each of these winners embodies the spirit of collaboration, creativity, and growth that fuels Tezos. Whether they’re helping onboard new users, developing critical tools, or sharing insightful thoughts with the community, their contributions are invaluable.

What Categories Can You Nominate For?

Here’s a quick look at some of the categories in the CRP:

• Assimilation Award: For assisting newcomers and creating resources that ease the onboarding process.

• Formal Verification Award: For engaging in constructive dialogue and setting a standard for clear and precise communication within the community.

• Helping Hand Award: For being a consistent source of assistance and support within the ecosystem.

• Influencer Award: For promoting and representing Tezos in the public sphere.

• Patissier Award: For contributions to the growth and development of the Tezos ecosystem.

• TEO Award: For promoting decentralization and governance through the Tezos Ecosystem DAO.

• Tez Dev Award: For building and developing on Tezos with notable contributions to code, tools, or infrastructure.

• Tezos Tutor Award: For creating educational content or onboarding tutorials that support community knowledge.

• Drill Sergeant Award: For helping to onboard devs into the Tezos ecosystem. 

Nominations for October are already open, so if you know someone who’s making an impact, be sure to nominate them! It takes just a moment, and you can use the form here or tag any post with #TezosCRP. Let’s continue supporting each other and celebrating the incredible work happening across the ecosystem.

Learn more about the CRP on the Tezos Commons website and follow the progress!

Kredete and Etherlink Empower the African Diaspora with Affordable and Fast Remittances

After celebrating the CRP winners, let’s dive into another exciting development this week. Kredete, a fintech platform that serves the African diaspora, has teamed up with Etherlink to deliver faster, more affordable financial services for African immigrants across the globe.

Founded by Adeola Adedewe, a first-generation African immigrant, Kredete was created to tackle two major challenges: the high cost of remittances and the difficulty immigrants face when building credit in the U.S. This partnership with Etherlink is set to make a real difference in the lives of African immigrants by offering innovative financial solutions.

Kredete’s Key Offerings:

• Credit-Building Tools: Helping immigrants build credit scores through international money transfers and offering services like credit reports and personalized financial products.

• Low-Fee Remittances: Users can now send money to over 20 African countries quickly and affordably.

• Tailored Financial Services: Including credit cards, auto loans, and mortgage loans, designed to meet the specific needs of the African diaspora.

Why Etherlink?

By integrating with Etherlink, a blockchain platform known for its scalability, speed, and low-cost transaction processing, Kredete is taking its services to the next level. This integration allows Kredete to provide even faster and more efficient remittance services, reducing costs for users while maintaining top-tier security.

With the recent $2.25 million seed round—led by Blockchain Founders Fund and supported by Tezos Foundation, Techstars, and Polymorphic Capital—Kredete plans to expand its services to even more African countries and offer new financial products like credit cards and loans. This funding highlights the strong belief in Kredete’s mission to bring financial inclusion to the African diaspora.

By leveraging Etherlink’s technology, Kredete is making financial inclusion more accessible, helping millions of users improve their economic standing. As one Kredete user, Igor Bogor, mentioned: “Just downloaded Kredete and am impressed with how simple the app is and how easy they make it to build and manage credit for consumers in Africa!”

For more information on this partnership and to stay updated, visit Kredete’s website or follow them on X.

Game Spotlight:The Fundamentals of Launching a Successful Game in the Tezos Ecosystem

Instead of highlighting a specific game this week, let's get back to the basics—what it takes to launch a successful game in the Tezos ecosystem. The world of gaming is thrilling, but launching a game isn’t just about the coding and design—it’s about strategy, support, and sustainability. And that's where the power of the Tezos gaming ecosystem truly shines.

A Solid Go-To-Market Strategy

In the Tezos ecosystem, teams like Trilitech, Nomadic Labs, and TZ APAC offer developers more than just technical support—they provide hands-on assistance with crafting a go-to-market strategy. Whether it's creating quests, launching press releases, or collaborating with key opinion leaders (KOLs), developers are given everything they need to accelerate user acquisition right from day one. This personalized approach ensures your game gets noticed and gains traction from the very start.

Long-Term Tokenomics Sustainability

Designing a successful in-game economy is no easy task, but Tezos’ stack helps developers build sustainable token economies with a sharp focus on balance and longevity. Your in-game currencies and token utilities are crafted with precision, creating a system that rewards players and keeps them engaged. The ecosystem’s teams draw on experience from both Web2 and Web3 gaming to ensure your game’s economy can stand the test of time.

Precision in Token Launches

Launching in-game tokens? The Tezos ecosystem provides access to world-class advisors, launchpads, and liquidity providers to help developers navigate the complexities of token sales and funding rounds. Every aspect of the token launch, from the initial sale to building liquidity, is executed with precision, setting your game up for financial success.

Product Design Beyond Visuals

In-game visuals may grab attention, but product design is about much more. The Tezos ecosystem helps developers focus on crafting engaging gameplay, intuitive user experiences, and cohesive in-game economies. With insights from gaming experts, developers can create experiences that resonate with players and keep them coming back.

Support Doesn't Stop at Launch

Launching a game is just the beginning. Post-launch, developers continue to receive strategic guidance to help refine, adapt, and grow their games. Whether it’s increasing user retention or expanding gameplay mechanics, the Tezos ecosystem’s ongoing support ensures your game thrives long after its initial launch.

Want to launch your game with the best support possible? Learn how to do it in the Tezos ecosystem here: Tezos Gaming

This approach offers everything a game developer needs to succeed, from crafting a strong strategy to ensuring long-term sustainability. Your dream gaming project could be the next big hit in the Tezos ecosystem!

🔴 Now Streaming: Baker Spotlight | Baking Benjamins

In this week's TezTalks episode, we sit down with the notorious Primate who's been a long-standing Tezos community member, builder, and baker. He also advocates for exercising the full strength of Tezos Governance with submitting his own upgrade proposals.

Learn more about the story of this legendary Tezos community member and why he chose as Tezos as his home.

Now Streaming:

YouTube

Events

We're just one week away from Blockchain Life 2024 in Dubai, one of the biggest blockchain conferences of the year! This event will feature top industry leaders, including Tezos' very own Arthur Breitman, who will be speaking on the panel, “Blockchain’s Core Technical Advancements: Simplicity in Complexity.”

Join Arthur Breitman and a panel of experts as they dive deep into the technical advancements that are shaping the blockchain industry. Moderated by Jouaid Abdallah, the panel promises to deliver key insights into how complexity in blockchain can be made simple for real-world applications.

Panelists Include:

• Sunny Lu – CEO, VeChain

• Hugo Philion – CEO, Flare Labs

• Mustafa Al-Bassam – Co-Founder, Celestia

• Gerard Ossi – CTO, Cardano Foundation

Don't miss this opportunity to learn from some of the brightest minds in the industry!

Event Details:

🗓️ Date: October 22, 2024⏰ Time: 11:35 UTC+4📍 Location: Uminers Stage at Blockchain Life 2024, Dubai🎟️ Use code TEZOS for 10% off tickets: Blockchain Life 2024

Make sure to mark your calendar and take advantage of the Tezos discount code for your tickets!

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