Nomadic Labs continues its adoption work with companies by welcoming a new validator company or baker on the network Tezos. The startup Elevate Labs creator of a DeFi protocol also benefits from financial support of the Tezos Foundation.
Tezos celebrated its fifth anniversary. A Proof-of-stake blockchain, its operation is based on validator nodes bakers. The network includes over 400 corporate bakers worldwide.
These players are key to the network’s development and adoption. “Becoming a baker enables innovation departments to take ownership of the technology. A corporate bakerit’s usually a company that launches a project behind it,” Nomadic Labs told RoyalsBlue.com.
DeFi ambitions for Tezos
The rule is confirmed with Elevate Labsa French blockchain and DeFi startup. Alongside Tezos’ Nomadic Labs R&D center, Elevate Labs has just made its corporate baker status official.
Editor and consultant, Elevate Labs provides backend and frontend development, implementation of decentralized applications, training (with HEC engineers in particular) and design as well as audits of smart contracts.
The startup is also involved in the decentralized finance ecosystem. It has designed a crypto-asset lending protocol for businesses and individuals seeking financing.
Elevate Labs supported by the Tezos Foundation
With its protocol, Elevate Labs makes it possible to customize the duration and rate of loans, and accepts all types and levels of collateralization, details the Nomadic Labs press release. This type of service is of interest to the Tezos ecosystem.
In fact, the protocol has been selected by the Tezos Foundation and benefits from sponsorship designed to accelerate its development and fuel innovation on the blockchain.
The foundation sees the partnership as a way of reinforcing “the startup’s commitment to the Tezos ecosystem while giving Elevate Labs the means to offer cutting-edge solutions in the decentralized finance sector”.
A baker involved in governance and security
This involvement is also reflected in the startup’s decision to fill the role of Corporate Baker.
Within this framework, the company co-founded by Jérémie Zarka will be involved in governance, protocol evolution, security and “network verifiability”.
Elevate Labs has the ability to manage an end-to-end value chain. And we applaud their work on DeFi protocols, which are helping to create new types of products, services and uses in finance, with real opportunities in the real economy”, says Cédric Roche, Adoption Manager France at Nomadic Labs.
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