Switzerland’s Tezos Foundation has recently decided to settle a $25 million class-action claim filed by several investors. The move reflects the foundation’s plan to boost investor confidence, which triggered a strong rally, the Currency Analytics website reported.
Sydney Ifergan, crypto expert, said on his Twitter account:
“Tezos are settling on the most expensive legal distraction for the benefit of the platform. The foundation has continued to maintain that they did not do anything wrong about key development goals.”
Clearer way ahead
Tezos said on its website that the claim settlement mainly serves the best interest of the foundation and the community as a whole.
The foundation decided to withdraw due to the financial losses incurred from the continuing proceedings.
Tezos delegators have been advised to verify if their baking service is among the inactive services. Otherwise, they should change their delegation.
It is worth mentioning that development and testing are very important to smart contracts. Thus, Smartpy was designed with an inbuilt unit testing with the capability to draw scenarios.
Smartpy scenarios include registering and displaying contracts, as well as calls to entry points. In addition, the scenarios include adding document information and checking assertions.
Smartpy is one of the most effective platforms of Tezos. Its release coincided with the Carthage activation on the Tezos mainnet.
Several investors do not know the coding to start with Tezos. Thus, they can join the Tezos baking chat in SlackHQ app to get some help.
Investors should also understand Tezos nodes, bakers reliability index as well as reliability among public and non-public bakers.
Tezos holds assets worth $635M
After its ICO, Tezos’ assets have almost tripled in value as the company’s biannual report issued on 9 March showed that it holds assets worth $635 million.
The foundation has added that it has been offering $37.6 million in grant support to the Tezos (XTZ) network since August 2019.
On 19 March, Cryptolydian reported that Coase – a company established by Tezos co-founder Kathleen Breitman – seeks to handle this issue with its new game; Emergents.