The current ticker symbol for Tezos is XTZ. However, this can confuse new investors because it is similar to other ticker symbols (XRP, XMR, XLM), and its pronunciation is occasionally associated with ecstasy/XTC.
Reasons why I believe changing the ticker symbol from XTZ to TEZ would be beneficial:
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A new ticker symbol could potentially help Tezos attract new investors, as the TEZ symbol is more intuitive and user-friendly.
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With a more distinctive and recognizable ticker symbol, Tezos could improve its overall market visibility and reputation by differentiating itself from other cryptocurrencies with similar ticker symbols, reducing confusion among investors and traders.
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Changing to TEZ could potentially help with branding and marketing efforts, improving Tezos’ search engine optimization (SEO) and social media presence, making it easier for users to find and engage with the project online, and helping Tezos establish its unique identity in the cryptocurrency market.
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TEZ is more consistent with other popular blockchains (ETH, SOL, DOT, LINK, DOGE, PEPE, etc.)
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Many DApps already use TEZ as the symbol (Quipuswap, Youves, Spicyswap, Plenty, etc.)
In conclusion, changing the ticker symbol could increase visibility and make Tezos more accessible to new users. It will also create less confusion in Tezos’ DeFi ecosystem, and the rest of the crypto market.
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I like this but gosh, it’s a lot of work and expenses for a possible maybe. This is not very feasible based on the facts but there’s more to it imo, or could be.
In an ideal world, I’d say, do it! Anything to bring a fresh and hip energy.
Could use the rebranding in a campaign that touches various parts of the ecosystem to bring awareness to both the ticker change as well as the defi/nft/unique areas being showcased.
Marketing wise we would focus the message to inspire and pull white hat experimenters and technologists. On the back end, this would need a nice follow through with sherpa services and great docs and videos.
To summarize:
Get massive attention > white hat techie funnel > onboarding program > better adoption?
I’m not trying to make it sound like it’s simple but is it possible in theory?
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I always thought the X is a regulatory thing and wondered why BTC, ETH, ADA etc. don’t need it. If it is possible to change I’m all for TEZ. There is always confusion how to use the correct naming. Often people saying they sold something for xxx XTZ. Symbol and unit should be the same to avoid such confusion.
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The X is to follow an ISO standard that proposes that non state currency have a ticker that starts with X. A few other cryptocurrencies follow this pattern: XMR, XLM, XRP, and sometimes bitcoin is XBT.
As to convincing every exchange, wallet, etc to replace XTZ with TEZ, it’s easier said than done. Possible, but the case for it would have to be really strong to justify the hassle.
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Thank you for this clarification! You are right, it could be tedious to convince everyone. But it’s often used incorrectly anyway. So maybe it doesn’t matter so much if it’s used incorrectly after we rename it. For communication from Tezo’s side, I still think we could better distinguish ourselves from all other chains with an X if we use TEZ. Is there any concrete impact of not following the ISO standard!
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I also was wondering how necessary it was to follow the ISO standard and the consequences of not doing so.
Fully agreed with this (updating XTZ → TEZ), another example
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