DLS-Tezos to Hard Fork, Giving Birth to TzLibre

Jun 05, 2018 at 11:11 // News

Contributors and developers of the Tezos blockchain platform for smart contracts and decentralized applications have announced a fork on June 4th, 2018, to create the TzLibre token. The new project, self-titled as "for Tezos contributors by Tezos contributors" will aim to be a trustless and hard-capped implementation of the original Tezos idea.

This confirmed the original Swissinfo report that broke the news of TzLibre.

On the day of the hard fork on June 4th, TzLibre will begin airdropping TZL tokens to all eligible Tezos contributors who claimed the new tokens.

The TzLibre vision of maximizing contributor interests

The founders behind the TzLibre idea consist of a group of contributors to the Tezos token sale. Although fully entrenched in the ideal of the original Tezos project, they have decided to strike their own path, to follow their own vision of prioritizing contributor interests. In doing so, they will also fork off Tezos, a move deemed not possible by many.

A funding difference

TzLibre has the objective of defending the independence of the Tezos Foundation, protecting it from any and all external influence. It sees this as the main way of protecting supporter interests, to prevent Foundation funds from being controlled by any monopoly, single implementation of Tezos, or special interests.

A new token structure

Instead of allocation tokens to founders and the Tezos Foundation, TzLibre will assign tokens to network validators, while enforcing a permanent supply hard capped at 763 million tokens.

Separating governance

TzLibre will introduce “eternity clauses” that will address potential technical issues identified with on-chain governance. This will be a form of a hard-coded Constitution to prevent possible manipulations, including transaction mutability, money supply inflation and freezing of accounts.

In relation, TzLibre has hoped to reinstate former Tezos Foundation president Johann Gevers, as it believes this to provide a necessary balance of power.

Legal foresight

Cognizant of the potential for regulatory jurisdictions to view tokens as securities, TzLibre has specified itself to be a non-business entity, independent of any business interests. Therefore, by definition, it cannot be considered a security

Charter accordance

Multiple Tezos implementations are allowed for and recognized by the Foundation charter. In particular, the charter reads: “[Tezos Foundation] primary – but not exclusive – endeavor is the promotion and development of the Tezos protocol and related technologies".

As such, TzLibre will provide assistance to the Tezos Foundation to keep in accordance with its charter in supporting TzLibre, and any other legitimate forks.

Clear support

Born on March 18th, 2018, contributors have demonstrated a strong interest for TzLibre, despite difficulties in disseminating information on existing platforms such as Riot, Reddit, Telegram, WeChat and QQ. Over 5% of Tezos contributors are now following TzLibre on social media.

TzLibre is also partners with the Zclassic community volunteer developers and the Ethereum Commonwealth, both with a long track record of blockchain forks. In collaboration with Zclassic, TzLibre will also run awareness campaigns on profit-driven centralized blockchains managed by private entities.

Trading

TzLibre tokens (TZL) will be traded on the world's first decentralized and trustless exchange: ForkDelta. While the exchange already reflects bids for TZL, official trading will begin on June 4th, 2018, meaning TZL will be liquid before DLS-Tezos tokens (XTZ).

To learn more about TzLibre and TZL, visit the website or read the TzLibre press kit. Follow the developments on TzLibre Telegram and TzLibre Twitter.

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