Home » Tezos ETP Listed with Staking Rewards by Swiss Six Exchange
Cryptocurrency

Tezos ETP Listed with Staking Rewards by Swiss Six Exchange

crypto

Tezos (XTZ) is expecting new financial products, which is one of a handful major proof-of-stakes (POS) blockchains up and running today.

Crypto startup Amun AG on Thursday launched Amun Tezos exchange-traded product (ETP), tracking the tezos cryptocurrency under the XTYZ ticker on the SIX Swiss Stock Exchange, and this is according to a statement.

Amun’s Tezos ETP which is based in Zurich is the ninth crypto-based ETP firm issued to date on SIX and the firm does claim to have assets amounting $70 million under management. The underlying asset of the product will be held by Coinbase Custody, Amun said.

As a product of PoS chain, Amun’s newest ETP will also issue staking rewards which are termed ”baking” in the system of Tezos. This is by Coinbase and will be reinvested automatically into the ETP shares of the holder. What this actually means is that if you hold the product longer, your underlying share becomes larger.

“Some staking services initially began as being secluded to a specific blockchain,” Amun CEO Hany Rashwan said in the statement. “Via our ETP, [investors can] participate in the associated rewards for contributing to the security and stability of the Tezos blockchain – without the need to ever have to set up a crypto wallet or taking care of a private key.”

Why Choose Tezos?

The choice of tezos by Amun and others speaks to underlying stability of the asset according to the provider of data Messari research analyst Wilson Witham.


“Tezos is quietly becoming a viable option for the issuance of tokenized securities. There’s a growing confidence among security token issuers that tezos can provide the tools and security necessary to facilitate similar efforts,” Witham said.

Tezos’ edge comes down to the consensus mechanism that it has, Witham said. While there is a transitioning by other cryptos to PoS, the protocol of tezos is up and running. For instance, recently Alliance Investments employed Tezos for tokenizing real estate contracts which amounted to nearly $650 million this October.

Ethereum is also slated to transition to PoS in the next iteration, Ethereum 2.0, in Q1 2020, as is blockchain platform Cardano. However, how the capital will flow onto the newly transitioned PoS platforms is a story yet to be told.

“Tezos’ on-chain governance also gives it an interesting dynamic. Security token issuers can participate first hand in the future direction of the protocol,” said Witham.

Source: https://www.coindesk.com/swiss-six-exchange-lists-tezos-etp-with-staking-rewards

About the author

Ezra Ondara

Ezra Ondara

Ezra Ondara is a football fanatic, and betting pundit. He specializes in product reviews and casino/gambling content, with interest in the aviation industry and space science. When he’s not at his desk crafting content, he is watching the English Premier League or space exploration videos on YouTube, or out of town with his family. Ezra values relationships and he’s committed to providing valuable content for readers.

Add Comment

Click here to post a comment

The following GDPR rules must be read and accepted:
This form collects your name, email and content so that we can keep track of the comments placed on the website. For more info check our privacy policy where you will get more info on where, how and why we store your data.