Telos Shares January 2023 Recap
A Message From the CEO
The end of 2022 saw Telos make significant strides in ecosystem development, enabling the network to roar into the new year with positive momentum. With our vision locked in on unprecedented growth across sectors such as DeFi, GameFi, NFTs, community expansion, and developer outreach, Telos concluded January with significant progress on all fronts, laying the groundwork for a prosperous 2023.
The Telos Core Developers have worked tirelessly preparing for the debut of EVM 1.5, which will introduce a host of upgrades, including a new Teloscan Indexer that will feature an array of advanced analytics. In addition, the impending integration of a trustless IBC bridge is also a source of excitement for Telos, as it will provide users with the smooth and secure bridging of tokens across all Antelope chains, hence expanding Telos’ accessibility to a larger Web3 community.
We want to welcome our new Marketing Director, Peter Nguyen, warmly. Peter brings with him a wealth of experience in Web3 marketing and is eager to help drive the growth of the Telos Network. We are confident that his skills and passion for blockchain technology will contribute to the continued success of Telos in 2023.
The end of January marks a special moment for the Telos Foundation. Our team has set ambitious goals for 2023 to increase the network’s composability and build a vibrant ecosystem full of innovative projects. Furthermore, the TF is dedicated to providing quality governance that will improve the user experience within the network. So it’s no surprise that there are big expectations from both team members and the community for what Telos Network can achieve in 2023. However, we’re confident these expectations will be met with our continued commitment and hard work!
Justin Giudici (Director, Telos Foundation)
Telos Core Developers (TCD) continue to develop the prioritized roadmap items and have made significant progress as we prepare to unveil key deliverables for Q1 of 2023.
Telos EVM 1.5
The development of EVM 1.5 is coming along as expected. However, the TCD is currently working to fix the Trx receipts and gas usage issue. Presently, Trx receipts do not reflect gas used minus gas refunded. This is a key component to calculating blockhashes and ensuring the same methodology is utilized in EVM 1.5 and 2.0.
To address these RPC inconsistencies, the TCD is developing a custom plugin for AntelopeIO, allowing the RPC nodes to collect the data needed for consistent block hashes accurately. Note this custom plugin will not be required for EVM 2.0 as 2.0 is the plugin.
Trustless IBC
The implementation of a trustless IBC opens up a wide range of use cases, including:
■ Decentralized exchanges (DEX): Trustless IBC can enable decentralized exchanges between different blockchain networks, allowing for trading assets without the need for a central intermediary.
■ Cross-chain atomic swaps: Trustless IBC allows for the exchange of different cryptocurrencies between blockchain networks in a trustless and atomic manner.
■ Decentralized finance (DeFi): Trustless IBC can enable decentralized finance applications to work across different blockchain networks, allowing for the creation of new financial products and services.
■ Multichain dApps: Trustless IBC enables multichain decentralized applications to be built, allowing for greater scalability and interoperability.
■ Supply Chain Management: Trustless IBC allows different supply chain networks to be connected and tracked in a trustless and secure manner.
■ Gaming: Trustless IBC allows for different gaming platforms to be connected, allowing for cross-chain interoperability of in-game assets and items.
■ Identity management: Trustless IBC can be used to store and share identity information across different blockchain networks securely and privately.
■ Insurance: Trustless IBC can be used to create decentralized insurance products that can be used across different blockchain networks.
These are just a few examples of the potential use cases that trustless IBC can open up, but there could be many more in the future.
You can get the full breakdown of EVM 1.5, the trustless IBC integration, and more in the TCD’s recent Telos Tech Talk linked below:
WATCH: Telos Tech Talk- Breaking Down Trustless IBC & 3.1 Contract Updates
J.T. Buice (on behalf of Telos Core Developers)
Welcoming Our New Web3 Marketing Director, Peter Nguyen
Telos is thrilled to welcome Peter Nguyen as its Web3 Marketing Director. With over ten years of experience in Marketing and Business Development in sectors that include finance, tech start-up, public policy, transportation, blockchain and Web3, Peter is undoubtedly the perfect fit for this role.
Peter brings a unique skill set to Telos; having worked with a variety of organizations across multiple industries, which include Fortune 100 brands such as Coca-Cola, Nike, General Motors, and American Express, he has developed a deep understanding of what it takes to create success in today’s digital landscape. In addition, his commitment to excellence and drive for innovation has been instrumental in helping his clients achieve their goals.
At Telos, Peter will be responsible for building the network’s presence in the Web3 space by developing strategic campaigns that help grow brand awareness and engagement. We are confident that his experience and passion for all things Web3 will be valuable assets as we continue our journey toward becoming the leading provider of decentralized solutions.
Get caught up with Peter and his outlook for Telos in a recent AMA recorded on January 27th:
To continue the momentum from the previous year, January has been a month of production during which various channels were optimized, and improvements have been slowly created to ensure more visibility for the community. The main focus areas were:
- Developing further community initiatives and campaigns to ensure participation correlates with community rewards
- Designing additional resources to track and communicate updates
- Other support for ecosystem projects, including campaigns to encourage cross-platform and on-chain engagement
The results will be revealed in February, along with several key liquidity incentive programs and social campaigns that the Telos community will be able to participate. We will have additional details very shortly!
Peter Nguyen (Marketing Director, Telos Foundation)
Attracting Web3 projects of the highest calibre is the lifeblood of any successful blockchain network and the fundamental objective of the TF. With many promising partnerships, Telos made significant headway toward this objective in January alone.
AIKON OREID — Partnering with OREID, Telos has become the first EVM network with a free cloud wallet readily available for use. You only need a traditional web2 login (Email, Apple ID, Facebook), and you’ve unlocked a simple sign-in solution to access TelosEVM and Telos Native. As a result, entering the Telos ecosystem has never been easier.
Mises Browser — Boasting over 350K users across North America, Europe, and Southeast Asia, Mises Browser has teamed up with Telos to provide its community access to the world’s first extension-supported mobile web3 browser. Built for iOS and Android devices, using your favorite web3 sites and dApps across the Telos ecosystem has never been easy.
Telos recently hosted an AMA with Mises. You can listen to the entire conversation through the following link:
LISTEN: Telos x Mises AMA Full Recording
Chaindrop — Acquiring testnet tokens to test new dApps on different chains was a daunting task, but that’s now a thing of the past as we introduce Chaindrop faucet, a dApp designed to ensure developers are always able to build without borders.
Onto Wallet — One of the latest and greatest Web3 wallets implementing dApp and NFT risk detection across 40+ blockchains has decided to take the first step towards a fairer, faster future by integrating the Telos network. Browse and Own with Onto on iOS, Android, and Web Extension today.
Flair SDK — Building on the best has become easier with Flair SDK, a Web3 developer toolkit that features multichain support and scalability. Launching a dAPP or Managing an NFT project has never been easier with Flair’s developer-friendly solutions.
CoinDCX — One of the leading CEX exchanges in India, Telos has integrated with the CoinDCX platform to allow its users exposure to the Fastest, Fairest blockchain in all crypto.
Synthr — Minting and trading on-chain derivatives has never been easier with Synthr, letting users enjoy slippage-free swaps and cross-chain trades of their favorite synthetic assets — all using the power of the Telos Network.
ChainPort — ChainPort is a security-focused Defi bridge, and Telos's integration now offers new ways to transfer assets seamlessly across chains with just a few clicks.
Web3Games — Telos has joined with Web3Games to support its emerging Gamefi ecosystem and offer assistance in becoming the powerhouse the tech is suited for. With the successful launch of W3POKER, we’re sure much more is to follow suit (pun intended).
VirtualStax — Revolutionizing the digital trading card space with personalized NFT cards that allow aspiring talent to monetize their journey to infamy. VirtualStax has already secured world-renowned athletes and musicians as ambassadors, which includes NFL quarterback Drew Brees, TCU running back Emani Bailey, singer/songwriter Luke Bryan, and more.
VirtualStax held an exclusive AMA with the Telos team to discuss their upcoming STO for TURNCOIN. You can listen to the recording at the following link:
LISTEN: TURNCOIN STO x Telos Recording
AJ Dinger (Business Development, Telos Foundation)
Hard to believe a month is already in the books, but 2023 here we are! The first month of the year was about positioning Telos NFT for further success in 2023. Together, we have created a set of core values that will let Telos stand apart from others in the NFT space. The best part is we have some important case studies on how the tech is already being used ahead of its time right here at Telos (Telland, KandaWeather, Unbound).
January also welcomed another opportunity for Telos NFT artists to showcase their talents and have their art featured at the upcoming Toronto NFT event. The contest, hosted by Telos NFT, alongside Goat Studio and Joyn.xyz, is live. You can follow the link below for details on how to enter your submission!
Have your NFT art featured at TORONTO NFT! — Toronto NFT Pop Up Gallery!
With the direction and aims shored up, we can better target and pursue others in crypto who are building real-world solutions and begin aligning early this year. We have a couple of exciting projects in the pipeline for Q1 and Q2, as well as new dApps onboarding that will round out the overall user experience for NFTs on Telos. We have some pretty significant advantages to compete with, such as the meta of “owning your own contracts,” which has propelled open editions. Overall, January was a solid start to the year, and along with the new marketing lead, we feel more bullish than ever that this year put Telos on the map not only as a competitor but as an innovator in the space for years to come.
Big Gooey (Team Lead, Telos NFT)
We kickstarted the new year with a ton of exciting updates and expansion to new markets. During the month of January, the L&E team worked towards setting the goals for 2023, defining a new internal structure, and doing the groundwork for upcoming partnerships.
Key Highlights For January
[1] Expansion to India with CoinDCX listing
Our efforts to make $TLOS more accessible to the masses are bolstered by the necessity to enter new and uncharted global markets. In January, L&E advanced Telos’ mission further with our first listing announcement of the year, CoinDCX.
Read the official listing announcement from Telos here
CoinDCX is one of India’s premier cryptocurrency exchanges, trusted by over 13 million daily users. It offers a vast array of services to investors and traders that include spot trading, margin trading, and OTC (over-the-counter) trading. Whether you want to buy or sell crypto assets or simply make use of the industry’s first insurance fund for traders, CoinDCX has you covered.
The platform is extremely easy to use with its intuitive user interface and features like the “Instant Trade” option for users who are looking for a fast way to buy cryptocurrencies — like $TLOS — without going through cumbersome KYC procedures. The listing of $TLOS on CoinDCX is a massive leap for our network and will enable us to tap into one of the fastest-growing crypto communities in the world. You can expect to see several campaigns in the coming weeks to raise awareness about TLOS and broaden its reach.
You can start trading $TLOS on CoinDCX through the following link:
[2] Increased Signatories for Fuel & L&E Treasury
We have added more signatories to the Telos Fuel fund and L&E treasury on Telos EVM. We are constantly looking to improve operational efficiency while ensuring the security and safety of the assets.
[3] Telos Boost Applicant Vetting
There have been ongoing discussions and sharing of feedback with Telos Boost applicants. The first few winning projects will be revealed to the community soon. So far, two projects have been approved, two have been rejected, and one is currently in the vetting process.
[4] Organization of Docs & Partnership Management
We have restructured the internal documentation and partnership management.
[5] Re-Assessment of Liquidity Allocations
We have reevaluated liquidity and incentive allocations and have taken the following actions:
- Removed liquidity from Zappy — Due to the lack of updates, activity, and recent developments with staking rewards distribution issues. We will repurpose this liquidity into existing and new upcoming projects.
- Removed liquidity from T-Swaps due to the lack of any new updates and active development. We are still working with the team to audit and recover some assets from the TSwaps 2.0 to 3.0 migration.
- The first month of Omnilend incentives of 100k TLOS during December 2022 has attracted growth in TVL of 4x from $400k to $1.58 million. Total number of unique borrowers has grown by 104%, and lenders have grown by 71%. We decided to continue our support for this initiative.
[6]Maximum Efficiency Towards DeFi Onboarding
We have decided to start contributing more to the DeFi deal flow and support the BD team to streamline the processes and reduce the onboarding time.
L&E Finances:
- We currently have ~$5 million in assets, and 50% is in TLOS token.
- We spent a total of 832,308 TLOS from the Telos Fuel Fund during the month of January, covering salaries & expenses, and incentives to Omnilend and ApeSwap.
- Snapshot of L&E funds (as of 18th January 2023):
Sukesh Tedla (Lead, Liquidity & Exchanges)
We’re Excited About What’s To Come
The Telos Foundation is proud of its achievements in January and sees it as the perfect way to kick off the new year. We’re energized and excited for what’s to come and are eager to share new updates with our community in the upcoming months. With a focus on innovation and growth, Telos stands ready to face all challenges, and our team is determined to break new ground as we continue to build the most sophisticated real-world-ready Web3 ecosystem.
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.
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