Today is an amazing day in the history of the Telos blockchain network. Every couple of months, something great is happening. Whether it’s the announcement of a new dapp, the on-boarding of new and amazing BPs, or great tools and marketing being adopted, we are truly proud to be part of this network.
This time around, the announcement is the official deployment of Telos REX and the Telos Economic Development Plan to the Telos Mainnet! Along with the other amazing benefits, this makes Telos the first ZERO-INFLATION chain on EOSIO. For the foreseeable future, the token supply will be fixed at 355,208,370.6674 TLOS.
In this article, we’re going to provide a quick overview of the T-REX features in Sqrl. We recommend using version 1.0.13 or greater for the best experience.
New REX Menu Option
The first thing you will notice when opening Sqrl 1.0.13 with the Telos Mainnet chain selected, is a new REX tab on the navigation menu.
Clicking on this tab will present the T-REX features currently supported in Sqrl. For simplicity, we show the important functions and removed some of the more advanced (confusing) ones hidden, such as moving your T-REX tokens to savings, etc. Most users simply want to take advantage of the high yield from staking to T-REX and Sqrl allows you to do just that.
Let’s review the REX Account Summary section. There are 6 data points in the top and lower sections on the main tab. These are pretty easy to understand once you grasp the concepts:
TLOS Deposits — Tokens moved from your liquid balance to your REX balance. Can be withdrawn back to liquid at anytime.
TLOS Lent — Your tokens currently lent to REX and gaining interest from TEDP’s REX funding program.
Matured REX — Tokens that are currently lent but have matured and are available for withdrawal back to liquid tokens.
TLOS 30-day Price — For those interested in a loan for network resources, this is how many TLOS can be loaned over a period of 30 days in exchange for a payment of 1 TLOS.
REX/TLOS Value — The current interest gained per token, for each token you’re currently lending to the REX pool.
TLOS/REX Rate — The number of internal REX tokens can be acquired in exchange for 1 TLOS
Immediately below the REX Account Summary section is a summary of the overall data in REX across the network. Here’s an overview on each of these:
Total Loans — Number of resource loans issued to community members
Total REX — Internal REX tokens created by members lending TLOS to T-REX
Rental Fees — Total fees collected from T-REX pool activity (lending/renting)
Total Lent (e.g. Total TLOS Staked) — Total TLOS tokens that have been lent by staking to T-REX
Lent — Total TLOS tokens currently lent to users for resource loans
Unlent — Total TLOS available to be lent for resource loans
Now that we’ve covered the summary data, let’s quickly review the buttons on the left that allows you to participate in T-REX.
Allows you to transfer your liquid TLOS to REX fund without committing tokens to the pool. You can withdraw tokens deposited immediately back to liquid at anytime.
Allows you to withdraw any tokens that were deposited or gained when you Unlend your Telos. Funds that are withdrawn here become liquid immediately.
Allows you to lend deposited tokens to T-REX and locks them for a period of 4 days (maturity date). However, they will accrue up to 30% APR as long as they aren’t unlent.
For those with tokens currently staked, you can unstake directly to T-REX without first unstaking and waiting for a 3-day waiting period for tokens to become liquid again.
Allows you to unlend any matured tokens from T-REX and make them liquid. Unlent tokens are deposited to your REX fund, where you can withdraw them or lend again.
Allows you to loan network resources for a 30-day period for a small TLOS fee.