June Recap- Telos Foundation
A Message From The CEO
While the ripple effects of over-leveraged, insolvent exchanges and funds (Celsius & 3AC) continued hammering the crypto market, Telos stood taller than ever and focused on one key objective: ecosystem growth. We’re proud to report that June was a tremendous month for the Telos Network, thanks to strong showings at Decentral, Consensus, and NFT NYC. Our team was on the ground at these events, raising awareness to tens of thousands of crypto early adopters and developers who, like us, are using this bear market to strengthen the foundation upon which our network is built.
Simply put, the bear market will not deter us. From new NFT projects to EVM 2.0, Telos takes a steadfast approach to continue improving the user experience and provide more creators and builders with the optimal platform to deploy their DeFi projects. Our Q2 report will be released in the coming weeks, so stay tuned for that announcement to get a full rundown of the milestones we hit last quarter and the ones we expect to achieve in the next.
Justin Guidici, Telos Foundation CEO
Exchanges and Liquidity Team: Making Connections for a More Prosperous Future
During June, the liquidity and exchanges team representatives were busy on all fronts. We joined other Telos team members at DCentral and Consensus in Austin, Texas and made quick work of meeting multitudes of blockchain enthusiasts and builders in the space. During the two events, we followed up with our existing partners and made a lot of new connections with top exchanges, wallets, and service providers in the industry. We are actively following up on these connections now and working with some organic listings.
June also debuted the launch of Jungle Bills on ApeSwap, of which Telos was a key facilitator.
Sukesh Tedla, Exchanges and Liquidity Team Lead
Community Management Team: Growth in All Areas
As we all know, Q2 marked the continuation of worsening sentiment across financial markets, and naturally, crypto was not immune to the drawdowns. However, this did not prevent us from expanding our various communities and positioning Telos for further growth in the near future.
Additionally, a large part of the positioning mentioned above comes from the work on the frontlines during DCentral, Consensus, and NFT.NYC. Other elements come from ongoing and planned growth campaigns. One soon-to-be milestone of note is Telos coming up on 100k Twitter followers. This achievement will speak volumes of the efforts made by our team and community to raise awareness about how Telos improves the DeFi experience for users and developers.
Q3 will see this, and the efforts of many other campaigns unfold while a significant educational push is in the pipeline. Telos Academy and Community Bounty Program, anyone?
Thomas Schmied, Head of Community Management
Marketing Team: Building at the Bottom
Techno lore argues that great businesses are built-in adversity and not to be distracted by falling asset prices. So as crypto prices fell, our project to-do list grew, and we were out and about spreading the Telos story, building for the next upswing.
During early June, we attended Consensus and Dcentral in Austin, TX, and NFT.NYC in Manhattan. At Consensus, the Telos booth was at times overrun with interest (note to self: get a bigger stand next year!), and we collected a few hundred names from developers and business partners — some juicy potential partnerships will surely follow. In addition, we ran a successful Telos NFT Treasure Hunt with our partner Kluest.
At Dcentral, we were also busy, with the added spice of Jesse Shulman and The Big Gooey snagging Main Stage speaker slots. NFT.NYC was very busy, and a smaller team fanned out at Gotham’s events and after-parties. The Big Gooey again snagged a speaker slot (can’t keep him out of the limelight.)
The Telos Texas Tour was the first time that the thirty members of our decentralized team had met in person, not to mention meeting our partners. We learned some important lessons: nothing beats meeting in person!
Telos World Speakers
As we enter July, we’re approaching public voting for Mission NFT. There are over three dozen projects, of which around half have been fully verified. We don’t want to pick favorites, but we recommend you take a look!
Also during June, our Twitter followers rose to around 97k, up 5% from the previous month.
Paul Walton, Chief Marketing Officer
Telos Foundation Operations: Laying the Groundwork
As it appears the Crypto Bear market continues to dive into a deeper valley, the Telos Foundation is taking this as an opportunity to evaluate our strengths, and weaknesses and tailoring direction if needed. We are focusing on getting all of Telos’s building blocks as strong as possible, from Marketing, Community Relations to dApp onboarding. With that said, the Telos Foundation is not seriously impacted by the bear market. Due to raising capital last year, the Telos Foundation can continue and grow operations for the foreseeable future. However, Telos does have scalable pay for employees based on the Telos price. If the Telos price decreases continuously in relation to USD, the amount of TLOS spent would become very high. Due to many factors, the Telos Foundation and TCD have capped employee pay with a 20-cent Telos Floor.
We remain focused on building now more than ever and have vast confidence that TLOS will become much stronger during this market cycle.
George Vernon, Director of Operations
Telos Core Development Team: Build…Then Build Some More
Telos Core Development (TCD) continued to build unimpressed by the market situation. We have made excellent progress on various items, clearly showing the strength of our evolved organization. We have generally reached our targeted headcount in June and have secured our current external resources at our BP’s y-knot and Detroit Ledger Technologies for the coming months. Our Product Manager Kuljeet started work and began to develop strategies for our native user experience and applications. Additionally, we will add a development team from Ukraine in July to support us on front-end developments on our apps.
The Open Block Explorer at https://explorer.telos.net/ took a giant feature leap and is now a one-stop-shop for most actions by regular users on a day-to-day basis.
We will soon issue a roadmap update for the second quarter and look forward to an AMA special with Jesse, Douglas, and Kersten.
A short update on our key initiatives:
- Open Block Explorer — We delivered a massive release lately, including Staking, REX, Voting, BP overview, and contract read/write interface. The first revision of a brand-new Multi-Signature / Proposal interface is also live. The MSIG features are still relatively complex; further iterations will offer a much more simplified user interface to open this great future to a broader user base. We are progressing well with the support of y-knot and Detroid Ledger Technologies.
- Teloscan — Received various updates on the contract read/write interface, which now also allows the import of ERC20, ERC721, and JSON ABIs for unverified contracts. We are working on a thoroughly revised token and owner list that awaits the EVM 1.5 release. Further improvements are created “under the hood” related to performance for the coming release. We will soon begin the design process for sTLOS integration and interaction with our new indexer service.
- EVM — Amid the market downturn, our EVM shows a significant increase in transaction volumes. We are closely monitoring the performance of our two RPC clusters to support the increased volumes. Our new indexer is proceeding well and was deployed on testnet recently. We are fixing a few more minor issues and expect it on mainnet in the coming weeks. The new service will enable token overview, holder lists, and performance improvement for various services. EVM 1.5 will deliver some initial amendments to the current architecture. We aim to deploy during July.
- EVM 2.0 Super-Node — Our team continuously develops and makes good progress with the components and concepts. We are laying some groundwork with EVM 1.5 already. Due to some significant changes, we will re-index once deployed and introduce additional transaction types to EVM. More information will follow soon.
- sTLOS EVM Single Asset Staking — contracts are currently being audited by sentnl.io. We are expecting final feedback in the coming two to three weeks. Work on the ERC4626 contract is complete; the same applies to the ESCROW unstaking contract and the Telos native REX contracts. The sTLOS user interfaces are in development. Some EVM apps have also started development. The governance votes for APR and Unstaking Timer ended, resulting in a 60/40 split in favor of Telos native and a 10-day unstake timer for sTLOS on EVM. (Please note that the split does not reduce the REX rewards on Telos native!) The final governance proposal will be submitted soon, reflecting the governance perspective discussed in various channels.
- Native Usability — We are beginning with validating our various apps and websites for Telos native, identifying all features, redundant functionality, and user experience. Our Product Management will streamline the applications and create a brand new, unified, and simplified experience for our users which indeed requires improvements. We are excited about this project and will report soon.
- Governance and Arbitration — Our governance model is the gold standard within our industry. However, we admit, aside from Decide Voter, that some of our tools require a usability rework. This fact became evident during the sTLOS voting process and as a result, we are starting to rework app.telos.net right now.
In addition, the arbitration workgroup is progressing with updating the required interfaces and changing them to our new standard VUE. All arbitration smart contracts are in rework, and there will soon be an update, including a process description. We are proud to offer this kind of leading governance infrastructure, which is unique to the industry and other EOSIO chains. - EOSIO+ Coalition — Received the offers for the “Wallet SDK” and “Faster Finality” RFPs. The proposals are now under review, and a decision to start development will be taken soon. Exciting news: a new name for EOSIO has been found! We look forward to sharing the new name to the code-base with our community very soon when a brand and logo are available!
- Telos Tech Talk — Our bi-weekly AMA live-stream series is well received by the Telos community. We are excited to report our progress and discuss various technical aspects of Telos native and EVM with our community. Join us every second Tuesday and ask all the technical questions you might have!
Kersten Wirth, Program Manager on behalf of Telos Core Development
Business Development Team: Welcome to Telos
We picked up in June where we left off in May, undiscouraged by the market downturn and focusing on what really matters, building a robust Telos ecosystem. As a result, June saw a multitude of top-tier projects choose Telos as their principal network; they are as follows:
- Simplex — The leader in fiat on/off ramps for crypto, Simplex is now live and integrated into the Telos website. You can now buy $TLOS instantly with a credit or debit card.
- AirLyft One —The first-ever multichain decentralized growth hacking platform that can help blockchain projects run campaigns and distribute rewards on-chain. The integration is now complete and live on the Telos network.
- ActiFit —The latest evolution in Move-to-Earn gaming has come to Telos. Get rewarded for your daily exercise activities to earn rewards, and yield-farm your earned AFIT tokens.
- VeFi — An all-in-one multichain NFT marketplace that enables users to bridge and trade NFTs across different Blockchains.
- Multisender -— A platform that allows users to send ERC721 and ERC1155 tokens to thousands of addresses in a single transaction.
- Sky Meta — What started as a gaming guild quickly evolved into a scalable guild platform allowing guilds and casual investors to easily manage, delegate and monetize their GameFi NFTs.
- tDrive — Distributed IPFS blockchain storage solution offering decentralized, simple, on-demand storage solutions.
- DeBank — https://debank.com/ — An all-in-one cryptocurrency wallet that allows users to track their entire portfolio through various chains and help users track DeFi applications, compare interest rates, manage assets, find DeFi projects and analyze risks.
- Exchange Listings — $TLOS continues to expand onto new centralized exchanges. This month we are excited to have added DigiFinex Global to our list of supported CEXs.
-A.J. Dinger, Head of Business Development
About Telos
The Telos EVM is the most powerful and scalable Ethereum Smart Contract platform built to power Web 3.0. Telos features a robust, third-generation, ESG compliant evolutionary blockchain governance system, including smart contracts, advanced voting features, and flexible and user-friendly fee models. In addition, Telos supports the blockchain ecosystem by serving as an incubator and accelerator for decentralized applications through development grants. Come build with us.
