Ejara is an investment platform that harnesses the power of web3 to provide alternative investment opportunities even to low-capital individuals.

We started by making it possible for our customers to purchase crypto with as low as 1000 CFA. This post will discuss the evolution of one of our successful products, Tokenized Bond (TB).

Government bonds are usually expensive for most people to purchase. With TB we allowed our customers to buy Government bonds for as low as 1000 CFA.

This has been made possible through the power of blockchain and tokenization. Our initial version of TB was launched mid 2022 on the Tezos Blockchain. This has been a massive success with over 5.6 Million transactions https://tzkt.io/KT1TN1Ja1VYgezMyxBLCVhtZi9QiPcoW7keY/operations/ .

The magic of TB is that it allows people of varying incomes to access safe bonds. This is revealed through the numbers and activity we’ve had over the past two years since launch.

Move to Base Blockchain

With great success comes great responsibility, and that’s what has caused us to reconsider the blockchain atop which our TB infrastructure is built. Tezos is a great blockchain and has helped us so far, but considering our future projections and how we want to position ourselves in the web3 ecosystem, we have decided to move to Base.

Case for Migration

Tezos is a layer 1 blockchain technology launched to rival the likes of Ethereum. Though the technology behind Tezos is sound and secure it has a relatively small community.

Base is an Ethereum layer 2 blockchain, it is part of the Ethereum ecosystem and benefits from its large community.

To choose a blockchain for a project, the following should be considered;

1. Technology

2. Community

3. Distribution & Partnerships

Technology

In terms of technology, both Tezos and Base are great. Tezos is a layer 1 blockchain whilst Base is a layer 2 blockchain. As a layer 2 blockchain, Base is faster than Tezos whilst relying on the security of Ethereum. Tezos on the other hand relies on its own layer 1 security, it is much more secure than Base but they both have an acceptable level of security.

Community

This is important because blockchain is about community and the bigger the community around a blockchain the better. Base has a larger community of its own than it is in the Ethereum ecosystem. The Ethereum ecosystem is the strongest blockchain community on earth and is what people refer to when they talk about web3. A large community means that it is easier to find developers, it is easier to find users, and easier to scale.

Distribution & Partnerships

This is more about the business advantages you will obtain from having your project on the blockchain. Building on Base allows access to Coinbase, the main entity behind Base. In addition, they have better distribution channels which means that any product we build on their platform has the chance to reach their ecosystem.

Conclusion

After considering all these factors, we decided to move to the Base network. This required rewriting our smart contracts in solidity https://github.com/EjaraApp/TB_solidity_contract .

Great news; we have successfully deployed on Base https://basescan.org/address/0x46f149a0844c5E0c59cE82a91D8734D5D9725B3B and already seeing great results. Transaction fees are much lower and transactions are much faster. Only new bonds will be minted on Base moving forward while our old bonds stay on Tezos for users to keep earning their interest until maturity.

The success of Tokenized Bonds is a testament to how ready the market is for alternative investment opportunities. At Ejara we keep building more empowering solutions like this. Stay curious about our next series of products in the near future.