Recap of Exclusive AMA: StealthEX & Taiko

October 28, 2024

Crypto World

Ana Rojas

StealthEX recently conducted an AMA session on X Spaces in collaboration with Taiko, and we’re excited to share the highlights with you.

• Host: StealthEX
• Guest: Nicky, Head of DeFi at Taiko

Questions from Twitter

Q1: What benefits does the combination of ZK rollups and optimistic rollups in Taiko’s model design provide in terms of cost reduction and decentralization?

Nicky: Great question! Taiko’s model prioritizes decentralized sequencing, which we achieve through validators for block proposals and transaction sequencing, avoiding a centralized sequencer. This design enhances censorship resistance and keeps network control away from any single entity. We also inherit Ethereum compatibility, meaning deployment on Taiko is as simple as copy-pasting. Taiko’s permissionless approach allows anyone to participate and ensures decentralization. Plus, our Trailblazers program rewards contributions, offering various ways to engage and earn retroactive rewards.

Q2: Can you provide insight into the synergies between Taiko’s ZK rollup development and the broader Ethereum ecosystem?

Nicky: Absolutely. Taiko is very Ethereum-aligned, and our design opens new possibilities for Ethereum scaling. Since our mainnet launch, we’ve seen significant growth in transactions, ecosystem engagement, and the number of dApps, with over 100 currently active. Our compatibility with Ethereum has attracted big names and projects, such as PancakeSwap’s franchise and our Liquidity Royal Program for top TVL providers. We’re always working on expanding the ecosystem, adding cross-chain assets, and exploring new meta like RWAs to offer a diverse, fully composable ecosystem.

Q3: How does Taiko balance the need for deep liquidity pools with the flexibility for users to participate in multiple campaigns and staking options?

Nicky: Liquidity is essential for any ecosystem. Developers and projects need liquidity to attract users and sustain operations. We’re actively addressing this by attracting more TVL, engaging big players, and expanding the ecosystem. Recent examples include PancakeSwap’s launch on Taiko and Taco by Lendell, a lending and borrowing protocol. We’re bringing in other notable names that we’ll announce soon, ensuring developers have the environment they need to flourish and contribute to the ecosystem’s liquidity.

Q4: The concept of base transaction sequencing is intriguing. Can you explain the mechanics behind it and how it helps maintain a balanced network while providing Ethereum-level credible neutrality? What challenges come with this approach?

Nicky: Taiko’s base sequencing leverages Ethereum’s decentralization. We use Ethereum’s own proposer infrastructure, avoiding a centralized layer and offering equal, if not better, UX than centralized systems. This design ensures censorship resistance by distributing sequencers across diverse participants, and users can generate revenue from participation. The simplicity of base sequencing makes Taiko composable with other rollups without needing to trust a single sequencing layer, aligning us deeply with Ethereum’s ethos.

Q5: As Taiko aims for maximum decentralization, what mechanisms are being considered for the network’s future governance?

Nicky: We’re establishing a Taiko DAO that will be the network’s governing body. This will grant Taiko token holders voting rights over upgrades, network parameters, and other decisions. An announcement about the DAO is coming soon, so stay tuned!

Q6: What is the Trailblazers program? And how does Taiko plan to evolve this program to keep engagement high as the platform scales?

Nicky: Trailblazers incentivizes both our community and dApps to participate actively. It includes leaderboards, where users and dApps accumulate points for certain activities. Points get converted to Taiko Tokens at the end of each three-month season. We host various competitions within the program, such as trading and gaming events, and liquidity campaigns with significant rewards. We’re constantly evaluating feedback and refining the program to stay aligned with community interests and ecosystem growth.

Q7: What specific feedback mechanisms does Taiko have to gather insights from developers and users during the beta phases of new features?

Nicky: We welcome feedback on our Discord and community channels, where we actively listen to suggestions. Feedback from these channels informs our roadmap and product development. Once the DAO is live, there will also be voting mechanisms in place.

Q8: What mechanisms will be in place to ensure the long-term economic sustainability of the ecosystem and the value of the Taiko token?

Nicky: Our Taiko token’s value is rooted in its utility within the ecosystem. It is the native governance token, allowing holders to vote on protocol decisions and network parameters within the Taiko DAO. Beyond governance, it’s used to cover transaction costs and offers a cost-effective alternative to high Ethereum gas fees, ensuring it remains integral to the ecosystem’s sustainability.

Q9: How does Taiko simplify blockchain technology for its users and partners, and what educational outreach initiatives are in place to communicate its core principles?

Nicky: As a base rollup, Taiko inherits Ethereum’s foundational principles, making deployment straightforward. We produce educational materials and participate in events to communicate our mission. Education is key, and we continually work to demystify base rollups and engage users meaningfully.

Live Questions

Q1: Community support is crucial. How does Taiko plan to attract more users and grow its community globally?

Nicky: We encourage everyone to check out the Trailblazers program at Trailblazers.Taiko.xyz and participate. This program is a central way we build community engagement.

Q2: What is the motivation behind Taiko’s creation, and do you have an ambassador program?

Nicky: Taiko’s origins trace back to the Blueprint project, with the founders being motivated by challenges in decentralization. We don’t have a formal ambassador program at this time, but community members are encouraged to join our Discord and engage actively with our mods and broader community.

Q3: How does Taiko’s parameter system balance decentralization with vulnerability protection against network congestion or attacks?

Nicky: Taiko’s design inherently prioritizes security, decentralization, and reliability, as we inherit Ethereum’s guarantees. Our robust auditing and strong decentralized foundation ensure security without sacrificing UX. For grants, we operate on a milestone basis, rewarding projects as they progress. We’re also partnering with DoraHacks for a hackathon.

Q4: What is Taiko’s strategy for global expansion beyond the current user base?

Nicky: We’re expanding by onboarding diverse use cases into the ecosystem. While we started with DeFi and gaming, we’re exploring new areas, such as RWAs and enterprise solutions, to foster broader adoption and growth.

StealthEX: Thank you all for joining today! 

You can swap TAIKO crypto on StealthEX exchange platform.

How to Buy Taiko Coin?

Just go to StealthEX and follow these easy steps:

1. Choose the pair and the amount for your exchange. For example, ETH to TAIKO coin.
2. Press the “Start exchange” button.
3. Provide the recipient address to which the coins will be transferred.
4. Move your cryptocurrency for the exchange.
5. Receive your coins!

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