TEDP4

Telos Advancement Program. Zero Limits to Growth.

Update - May, 18, 2023: 65M $TLOS tokens have been minted to the ‘tedp4holding’ account, following the successful passage of the TEDP4 proposal.

Link: https://api.telos.net/v1/supply/total

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TLDR:

Telos Zero:

• The Telos Network aims to position itself as a top blockchain in the cryptocurrency space with the TEDP4 proposal presented here.
• Telos Zero is the next stage of advancement for scalability and interoperability.

Two Growth Pillars:

• User adoption and infinite scalability are the proposed future growth pillars of Telos Network.

User Growth:

• The Telos Network aims to capture a significant share of the 100 million new gamers expected to come to the blockchain space in the next two years.
• Partnership identified with a leading global player in traditional gaming to attract new users to the Web3 space.

Infinite Scalability:

• The Telos Zero plan includes adding necessary cryptographic host functions, identifying a trustless cross-chain strategy, integrating IBC and zK privacy features, building a Telos Zero SDK, and releasing a Telos Zero Wallet that supports all Telos Zero chains.
• The Telos Zero ecosystem expansion envisions a robust multi-chain universe with Telos Native, Telos EVM, Telos One, GameFi Chain, App Chains, and On-Demand Chains serving different purposes within the Network.
• The introduction of additional chains, such as TelosOne, will further enhance the Telos ecosystem’s capabilities, and the $TLOS token will be used as the system/utility token across all chains for increased synergies and network effects.

Tokenomic Changes:

• Proposed increasing total token supply by 18.3%, adding 65 million $TLOS tokens and raise $20–30 million USD/stables.
• Proposed measures to prevent dilution and concentrated token ownership, include setting minimum token purchase prices, imposing lock-up periods, and involving multiple parties. These criteria would need to be met in order for various tranches of tokens to be unlocked for use by the Telos Foundation.
• Proposed reductions to Staking Rewards and Telos Fuel emissions over time to reduce their emissions profile and prevent future token inflation.

Governance Improvements:

• Enhancement of governance mechanisms and organizational structure for improved community oversight, guidance, and transparency.

How to Vote:

This TEDP4 proposal only becomes accepted and ratified based on the Telos Community’s participation and Amend vote. If you are unsure on how to vote please review this how-to document for instruction.

The Telos Community alone is responsible for the direction the Telos Network takes. The Telos Foundation, through the duly elected Telos Guardians, merely execute the overarching wishes of the Telos Community itself.

Link: Vote Here

Introduction

Overview

The Telos Economic Development Plans (“TEDP”) strive to foster consensus within the community regarding strategies for overcoming obstacles and capitalizing on opportunities to further the growth of the Telos Network. TEDP4 represents the latest initiative in this ongoing effort, with the aim to position Telos as a top blockchain in the cryptocurrency space.

Over the past four years, the Telos Network has grown tremendously, transforming from a small, self-funded project to one of the most sophisticated blockchains available today. This growth has allowed Telos to offer a strong infrastructure for a variety of applications and thousands of users. Given the rising competition in the industry, both the Telos Foundation (“TF”) and Telos Core Developers (“TCD”) acknowledge the importance of staying ahead and leading the Web3 future. This next stage of advancement is called Telos Zero.

To achieve this vision, the TF and TCD priorities are being driven by two primary growth pillars:

1. User Adoption Pillar: To drive the first pillar of on-chain user growth beyond our current activities, we have identified an opportunity to accelerate the onboarding of both existing crypto native users and new crypto users through a transformational GameFi partnership. Due to confidentiality constraints, we are not able to disclose the potential partner or the terms of the arrangement at this time, however, we believe the deal has been negotiated well and represents a unique opportunity for Telos to become a leading blockchain in the GameFi space. Both the TF and TCD believe the GameFi sector will usher in the next wave of user adoption into Web3. The partner we are collaborating with aims to facilitate a twofold increase in the number of gamers entering the Web3 space within the next 2–3 years. If successful, this collaboration has the potential to attract new Telos users from the Web2 gaming community as well as established Web3 gamers. Beyond strengthening our presence in the GameFi sector, we expect that the resulting synergies will encourage adoption across all other areas Telos has concentrated on since its inception, including DeFi, NFTs, and SocialFi.
2. Infinite Scalability Pillar: Through recent technical advancements in blockchain, the TCD has identified an opportunity to make Telos more interconnected with other chains and scalable to meet identified market needs. Telos Zero will be capable of supporting an infinite number of Layer 1 chains while also offering the most advanced Zero-Knowledge proof technologies through recent strategic hires. The vision for Telos Zero is to bring industry-specific L1s, and competing Ethereum Virtual Machines (“EVM”), along with payment and privacy networks operating as branches of the Telos Zero infrastructure. The Telos token (“$TLOS”) will maintain its current utility as a governance and gas/fee token while gaining additional utility where application-specific chains deploying on Zero are required to stake $TLOS or use $TLOS as gas for transactions.

In order to support these growth pillars, the Telos Network proposes to increase its token supply by 18.3%, adding 65 million $TLOS tokens to reach a total of 420 million tokens from the current 355 million. This expansion aims to raise $20–30 million in stable capital (or more) and incorporates measures to prevent dilution and concentrated ownership. These measures include setting minimum token purchase prices, imposing lock-up periods, and involving multiple parties in the raise(s). Additionally, the network proposes modifications to existing token emissions schedules to gradually reduce emissions over time in an effort to counterbalance new token unlocks. The full details of these changes are laid out in the Tokenomics section below.

Our Current Challenges

The increasing need for decentralized solutions and secure transactions calls for versatile blockchain platforms supported by highly experienced development teams with a deep understanding of advanced cryptography. While the Telos Network supports both C++ and Solidity smart contracts, offering the best of both worlds to developers, the network faces competition from better-resourced but less feature-rich projects, low market visibility, and limited capital runway. The Telos Network has made great strides across technical development, marketing, and ecosystem growth with very limited capital to date. However, to maintain long-term competitiveness and meet the goal of becoming one of the most utilized blockchains on the market, additional capital is required.

Telos Network Milestones

Figure 1: Telos Network Notable Milestones

Our Opportunity

GameFi to Drive User Adoption

Starting in Q4 2022, the Telos Foundation concluded that driving GameFi growth on the tEVM needed to be a top priority. The Foundation added additional team members with a dedicated focus on gaming to support these efforts, and the work has resulted in a massive increase in GameFi projects launching on Telos EVM. As part of these efforts, the team has been making inroads with many traditional gaming studios, publishers, and distributors from the Web2 space looking to incorporate Web3 into their platforms. In the process, we have identified an opportunity to partner with a leading global player in traditional gaming to accelerate Telos’ growth in GameFi and attract new users from the traditional gaming community to the Web3 space.

There are currently an estimated 3.07 billion gamers worldwide, and we believe that the next cohort of entrants into Web3 will be gaming based. Currently, there are roughly 100 million active blockchain users, and for the space to achieve mainstream adoption, billions will ultimately need to utilize blockchain technology. Gaming represents the most logical use case for blockchain in its current state, and some estimates suggest that upwards of 100 million new gamers will come to the blockchain space in the next two years. Given our technological edge over the main competitors in the space, we believe this is a unique opportunity to capture a significant share of these new entrants.

While we cannot detail many of the exciting specifics of this partnership due to confidentiality, we believe it represents an amazing opportunity for Telos to become a household name in GameFi. We fully expect this partnership can help us achieve the following goals:

• Establish Telos as a leading blockchain for gaming worldwide
• Drive massive awareness of Telos to the broader Web3 community
• Be a catalyst for the major adoption of traditional Web2 gamers into Web3

Part of the new token distribution would be used to support integration of the Telos ecosystem with the new partner’s marketing and operations. This would include additional business development, marketing, and technical support around partner integrations, as well as tokens to support ecosystem expansion into more traditional gaming channels. We are confident that this partnership will be a major catalyst for the adoption of traditional gamers into Web3 gaming, and those gamers would be directly supported by the Telos ecosystem in the process.

Infinite Scalability

Zero Limits for Opportunity

Telos’ half-second block times, proven 10k+ transactions per second, and anticipated three (3) second transaction finality will be available on all chains deployed as part of Telos Zero. The near-instant finality of transactions is key in creating a seamless multi-chain ecosystem where users are completely unaware they are using blockchain at all. Imagine starting a cross-chain asset transfer on a Telos Zero network, completing the transfer on a completely different chain two seconds later, then using that asset to make a purchase on an app-specific marketplace resulting in 3 transactions becoming final in less time than it takes Ethereum to produce a single block, and at a fraction of the cost!

Figure 2: Telos Zero Framework

The Telos Zero evolution is founded on numerous existing strengths of the Telos Network, including:

• A zero downtime, high-performance blockchain with a demonstrated track record of supporting multiple networks
• The integration of trustless inter-blockchain communication (“IBC”) technology without the inherent risk of bridges or oracles ensures seamless connectivity between disparate networks
• A full software stack of leading block explorers, wallets, indexers, and EVM runtime/remote call procedure (“RPC”) that are all built and maintained in-house, enabling the platform to continuously innovate and adapt to the evolving needs of networks deploying on Zero
• Entrenched governance processes for the underlying block producers/validators and token holders to have a voice in dictating and deciding the direction of the network

By executing the following plan, the Telos community will successfully transition into a Layer 0 network and help solve many of the current underlying challenges of a decentralized ecosystem.

Figure 3: Telos Zero Application of IBC Network Example

1. Add all necessary cryptographic host functions for zK-SNARK/zk-STARK functionality:

• BLS signatures to enable zero-knowledge (“zK”) pairing for optimizing zK circuits
• Additional ECDSA curves
• Additional secp256 implementations

2. Expose new zK host functions to EVM runtime via precompiles

3. Identify a trustless cross-chain strategy (leverage Antelope IBC or zK-based solution)

4. Integrate IBC and zK privacy features into existing wallets and explorers, where appropriate

5. Build Telos Zero software developer kit (“SDK”) to enable new chains to easily deploy and Whitelabel the existing tools (block explorer, indexer, wallet) for their brand

6. Leverage all of the above for the deployment of a privacy-focused side chain that offers zK capabilities and encrypted sharing to meet current and future privacy requirements of individuals and businesses

7. Develop an EVM-Native Bridge and IBC-Bridge UI to facilitate smooth interoperability between all connected blockchain networks

8. Enhance the user experience by creating a multichain explorer

9. Release Telos Zero Wallet that supports all Telos Zero chains

Zero Limit Ecosystem

The Telos Zero ecosystem expansion envisions a robust multi-chain universe, each serving a unique purpose within the Network.

Figure 4: Telos Zero Multichain Layers Example

1. Telos Zero (Telos Native): The core network responsible for transparent governance and security within the multichain Telos Universe
2. Telos EVM (0x): An open, highly scalable Ethereum-compatible platform
3. Telos One: A mainstream financial network equipped for private encrypted user payments, company ledgers, and secure data sharing
4. GameFi Chain: Low-fee EVM designed specifically for play-to-earn projects
5. App Chains: New chains that can be initiated at any moment for high-throughput applications
6. On-Demand Chains: Chains that serve a temporary purpose, whose valuable transactions are rolled up to Telos Zero prior to being archived. As an example, a prime use case is Fortnight with its 10–12 week seasons. A chain can easily be deployed for each new season using the deployment SDK then integration of the blockchain can be as aggressive as desired. This allows a high volume of transactions without concern for long-term infrastructure costs. At the end of the season, all in-game items (e.g., non-fungible tokens (“NFTs”)) and accumulated fungible assets (i.e., tokens, points, etc.) are bridged back to Telos Zero to be used in future seasons or traded on marketplaces while the rest of the data from that season can be archived.

TEDP4 Tokenomics

Tokenomics

In order to execute the strategy laid out within this proposal, we have developed a strategic plan that will support both pillars of growth laid out above. For the Telos Network to achieve these goals, the team estimates the Network will require an available treasury of ~$20–30 million USD / stable coins over the next 5 years. The Telos Foundation is requesting 65,000,000 $TLOS tokens be added to the total token supply. The first 15 million tokens would unlock and be considered available for request upon the passing of this TEDP proposal by the Community. After this, to ensure the best interests of the Network, we have established a set of criteria (“Key Criteria”) to unlock the remaining 50 million tokens. These Key Criteria are as follows:

1. Token Price Requirement: To achieve our goal of accessing $20–30 million USD / stable coins, we propose the following parameters for unlocking tokens based on the $TLOS token price:

• First Tranche: 10 million tokens @ $0.25 $TLOS price or higher: Once a daily token close price of $0.25 or higher is reached (as defined by www.coinmarketcap.com), 10 million tokens will be considered unlocked and available for transfer
• Second Tranche: 20 million tokens @ $0.50 $TLOS price or higher: Once a daily token close price of $0.50 or higher is reached (as defined by www.coinmarketcap.com), 20 million tokens will be considered unlocked and available for transfer, subject to a Lock-Up Period and eventual transfer only to Qualified Participants (defined below)
• Third Tranche: 20 million tokens @ $0.75 $TLOS price or higher: Upon reaching a daily token close price of $0.75 or higher (as defined by www.coinmarketcap.com), an additional 20 million tokens will be considered unlocked and available for transfer, subject to a Lock-Up Period and eventual transfer only to Qualified Participants

For the purposes of clarity, these are the minimum price criteria for token unlocks. If there are opportunities to exchange tokens at higher prices, the Telos Foundation, on behalf of the Community, will do everything in its efforts to achieve this outcome.

2. Lock-Up Period: To release the Second Tranche and Third Tranche (as defined above) the participants must agree to the tokens being locked for a minimum of 12 months with a linear (or similar) unlock period of at least 12 months thereafter.

3. Qualified Participants: We will seek sophisticated partners who can provide meaningful strategic value in the Web3 space. We will not allocate tokens to individuals and/or parties who do not.

4. Multiple Participants: To maintain our core value of decentralization, we will ensure there are multiple participants in each round. We will not exchange more than fifty percent (50%) of the tokens allocated in any round to a single or group of affiliated counterparties. Further, no individual or affiliated group may participate in accumulating more than 10 million tokens total (~2.4% of total token supply) across all Tranches of token releases.

By adhering to these Key Criteria, we aim to secure the necessary resources for growth while safeguarding the interests of the Telos Network and maintaining its commitment to decentralization.

In addition to the 50 million $TLOS tokens defined above, we have requested an additional 15 million $TLOS to support key marketing initiatives and attracting top talent to the network. These tokens are to be immediately available upon acceptance of this TEDP4 proposal, subject to explicit approval by the 5/7 MSIG of the account “tedp4holding” described below.

Figure 5: TEDP4 New Token Overview

Use of Tokens

Historically, the Telos Network has operated with very limited resources. The goal of TEDP4 is to create a level of flexibility that will allow Telos to operate on par with other Layer 1 Blockchains and to continue to develop technology that is leading all benchmarks to set a new industry standard on speed, security, privacy, and scalability. Careful management of this budget will provide a five-year runway to execute this strategy regardless of overall macroeconomic conditions.

The primary use of tokens is to provide the resources necessary to achieve the opportunities described herein. The following is an example breakdown of the intended use of resources:

Major Gaming Partnership Initiative

• Development of a dedicated gaming platform for Telos, complete with a user-friendly interface, comprehensive gaming features, and tools for developers to easily build and deploy games on Telos
• Development of gaming infrastructure, such as decentralized gaming servers and a specialized blockchain network optimized for gaming, that will enable fast and secure gameplay for Telos-based games
• Incentives to attract game developers to build on Telos, such as offering rewards for the creation of innovative games or for achieving specific milestones in game development

Telos Zero Multichain Development and Deployment

• Development of Layer 0, including its core functionalities and the addition of new features that will enhance its scalability, security, and performance
• Development of Telos’ multichain infrastructure, including cross-chain interoperability and integration with other blockchains, to expand the reach and capabilities of the Telos network
• Strategic specialized talent engagements. Building out a focused zK-team that will create a new functional department within the Telos Core Developers

Key Marketing Initiatives and Attracting Talent to Telos

• Targeted marketing campaigns aimed at increasing awareness and adoption of Telos among gamers, developers, and blockchain enthusiasts
• Community-building initiatives, such as hosting events and conferences, creating educational resources, and supporting the development of community-driven projects
• Strategic partnerships and collaborations with other blockchain projects, gaming studios, and industry leaders to further enhance Telos’ visibility and reputation within the gaming and blockchain industries
• Incentivizing highly talented individuals to join the Telos Network to support the build of key infrastructure of the chain

To compete with the rapidly advancing pace of blockchain technology, the Telos Network needs the ability to attract and recruit highly talented individuals. We have identified qualified candidates for key roles across the TCD and TF and will use some of these tokens to onboard these essential additions to our respective teams. Primary engagements for the TCD will focus on zK technology expertise and additional developer relations resources. Primary engagements for the TF will support business development, marketing, and governance needs surrounding the GameFi partnership.

As the chain evolves, we anticipate additional resources to support infrastructure will be required. The token unlock will be allocated to meet these needs, ensuring the continued development and evolution of the Telos ecosystem.

For the sake of transparency and clarity, tokens held in the “tedp4holding” holding account will not be used to participate in any form of on-chain governance and will not be voted while they remain untransferred.

Token Management

The Telos network possesses the ability to allow for complex on-chain permission structures. This allows Telos accounts to include both an Owner and Active permission key-pair. The difference between the two is the Owner permission may override actions and the keys of the Active permission.

The account to receive the newly minted $TLOS tokens will be: tedp4holding

It will have account permissions established as follows:

Owner Permission: 15/21 threshold

• EOSIO — Top 21 producing Telos Block Producers (voted by token holders)

Active Permission: 6/8 threshold

• EOSIO — weight 2 (controlled by top 21 BPs)
• TF — weight 2 (controlled by the Telos Guardians)
• EXEC.TF — weight 3 (controlled by TF CEO, and two other TF executives)
• 48hr Time Delay — weight 1 (BPs have 48hrs to exercise their executive authority over the blockchain)

EDIT — May 15, 2023: The overall threshold has been changed from 5/7 to 6/8 with the addition of the 48hr time delay ‘weight of 1’. This maintains the intention of creating a 48hr time delay that the BPs can act within to express their executive oversight powers, while functionally working within the MSIG criteria of the underlying AntelopeIO codebase.

It is worth noting that the 48hrs can be skipped if all three signers act in unison, which includes the BPs themselves, whom the 48hr timer is meant for.

As per the “TEDP4 Tokenomics” section of this document, as each tranche milestone is met, $TLOS tokens will become available for withdrawal as approved by the Permission holders of this account.

Transfer of Tokens

Once token tranches have achieved the previously specified milestones, as described in the “TEDP4 Tokenomics” section, they will be considered to be ‘unlocked’ and available for request.

Requests will be made to the 5/7 MSIG group that control the account “tedp4holding” through the TF and shall be made public for the entire community to be aware of. It is expected the following points will be adhered to when making a request:

• Tokens relating to each specific tranche shall be clearly and unambiguously shown to have met the milestone requirement for them to be considered ‘unlocked’
• Any requested amount of tokens needs to be sufficiently described to demonstrate that the use is reasonably inline with the previous “Use of Tokens” section. It is understood that in some circumstances non-disclosure agreements will prevent full disclosure of the details of the request.
• Tokens requested from the “tedp4holding” holding account can be received by any other Telos account so long as the account is reasonably controlled by an MSIG, and approved by the TF executive to be suitable for use.

Proposed Emissions Reductions

In an effort to reduce our emissions profile over time, with the goal of not having to inflate our token supply in the future, we have proposed a series of reductions to some of the Network’s current token emission profiles. After careful consideration, we believe there are two main areas where we can reduce token emissions without compromising the stability of the network: Staking Rewards and Telos Fuel. Another important aspect of reducing our emissions is already reflected in the current emissions scheme for Block Producers, whereby increased token prices reduce monthly emissions.

Below is a summary of the key proposed changes to Staking Rewards and Telos Fuel emission profiles:

Staking Rewards Reduction

Over the last four (4) years, Staking Rewards have served its purpose well as a mechanism to reward long-term holding and TVL growth of the $TLOS token. We can boast some of the highest TVL as a percentage of total token supply ratios in the entire industry, which is currently near 55%. Since the passing of TEDP3 and the unlocking of tokens for the Telos Fuel initiative, Staking Rewards are at a stage where they can begin to have reduced emissions. At current levels, Staking Rewards represent 28.7% of our monthly unlock from the Reserve account, which is not a sustainable emission rate over the long term. To solve this, we are proposing the following reductions to Staking Rewards:

• Upon passing TEDP4, reduce Staking Rewards from 1,700,000 to 1,200,000 $TLOS (500,000 monthly reduction). At today’s current staking levels, this represents a ~8.5% APY.
• Once a daily $TLOS close price of $1.00 is reached (as defined by www.coinmarketcap.com), Staking Rewards will be reduced from 1,200,000 to 800,000 $TLOS per month (400,000 monthly reduction). At today’s current staking levels, this represents a ~5.6% APY.
• Once a daily $TLOS close price of $2.00 is reached (as defined by www.coinmarketcap.com), Staking Rewards will be reduced from from 800,000 to 400,000 $TLOS per month (400,000 monthly reduction). At today’s current staking levels, this represents a ~3% APY.

Telos Fuel Allocation Reduction

The Telos Fuel DeFi and liquidity program was the primary focus of our last TEDP proposal, unlocking 1.7 million $TLOS per month to support improving our liquidity base and attracting quality DeFi projects into our ecosystem. Under the leadership of the Liquidity and Exchanges team, we have accelerated the onboarding of DeFi projects and deepened our liquidity across multiple platforms over the last six months. We expect this program will continue to experience demand across the DeFi space, and we believe this will continue even with fewer emissions than we are allocating today. Proposed below is a revised schedule for lowering our reserve emissions by tapering the Telos Fuel token allocation:

• Upon passing TEDP4, reduce Telos Fuel token allocation from 1,700,000 to 1,200,000 $TLOS per month (500,000 monthly reduction)
• Once a daily $TLOS close price of $1.00 is reached (as defined by www.coinmarketcap.com), Telos Fuel will have its token allocation reduced from 1,200,000 to 750,000 $TLOS per month (450,000 monthly reduction)
• Once a daily $TLOS close price of $2.00 is reached (as defined by www.coinmarketcap.com), Telos Fuel will have its token allocation reduced from 750,000 to 400,000 $TLOS per month (350,000 monthly reduction)

By implementing these proposed changes in TEDP4, we aim to create a more sustainable token issuance schedule for the Telos ecosystem, ensuring long-term predictability while reducing emissions to more manageable levels.

Improving Visibility & Transparency — Governance Changes

Governance has always been an area of vital importance to the Telos Network. While the Network already has some of the most democratized governance in the blockchain space, we believe there are opportunities to further enhance and slightly reconfigure our governance mechanisms and organizational structure. This will provide improved oversight and guidance for our technological advancements and outreach while also increasing transparency for our community.

The current structure of the Telos ecosystem from Token holders down to the TF itself can be seen approximated in Figure 6 below.

Figure 6: Telos Network Current Structure

Here we can see how token holders approve Telos Blockchain Network Operating Agreement (“TBNOA”) changes, select BPs, and appoint Guardians. This means that ultimately the token holder is the decision maker as to who they proxy Network roles and responsibilities to.

Having a community elected body like the Telos Guardians is something very unique to our chain and is too often missing from other L1 blockchains. Not only does the Telos Network take the time and energy to hold a community vote for these positions, but once there, the Guardians have a critical role in their ability to appoint the TF CEO and approve token requests to the TF covering its operational expenses.

One opportunity for improvement in the current structure is to formally move the management of the TCD to be under the purview of the community through the Guardians. In Figure 7 below a slight shift is being proposed where now the TCD and L&E are uniformly aligned in reporting up to the TF CEO. In this framework the community now has ultimate oversight of the various functional groups within Telos, from the TCD, TF, and L&E. This oversight exists through their ability to approve token requests and appointing who fills the role of TF CEO.

One other suggested improvement (which in reality doesn’t require a community vote, and can happen at any time) is to have the Guardians more deliberately participate in the various TF functional groups and report on these activities back to the community. Therefore we are proposing that the Guardians self-select at least one of their members to sit in on a weekly meeting (for example) with the primary TF functional groups, e.g., TCD, L&E, Marketing, Operations etc. The findings from these meetings can then be deliberately summarized by the Guardians into a new regular report that truly leverages their position in our ecosystem as the elected representatives of the community reporting back to their constituents on the activities of the TF as a whole.

Figure 7: Telos Network Proposed Structure

Conclusion — Where TEDP4 Takes Telos

This strategic vision for Telos aims to onboard a major new cohort of Web3 gaming users, unlock nearly unlimited use cases, add massive utility improvements, and prepare for future scalability demands. By focusing on these objectives, Telos can establish a first-mover advantage and realize new opportunities in upcoming crypto growth cycles.

Telos will build a comprehensive suite of products, guided by a clear understanding of market needs and potential. By addressing previously unexplored areas in Web3, particularly privacy, Telos will tap into new communities and increase its utility. This approach will also enable the Telos ecosystem to better serve users and developers, fostering greater network effects and driving adoption.

The introduction of additional chains, such as TelosOne, will further enhance the Telos ecosystem’s capabilities, creating synergies between new platforms and existing offerings. As a result, we anticipate increased utility, stronger network effects, and a more diverse user base.

Using the $TLOS token as the system token across all chains will bring increased synergies across our expanding ecosystem. The increased usage, higher fee generation, and growing network effect will contribute to a tangible expansion in the utility of $TLOS amongst a growing and diverse audience.

In summary, this strategic direction aims to position Telos as a leading blockchain platform, characterized by increasing utility, enhanced network effects, and a diverse user base. By building innovative products and addressing untapped markets, Telos will continue to establish itself as a pioneer in the blockchain space.

What to Expect Next

Upon passing of this TEDP4 proposal the following are anticipated short-term deliverables:

• Announce key strategic GameFi partner
• Leading zK technical resource hire
• Marketing team expansion
• New Telos Network website
• Updated roadmap
• L0 Litepaper

Formal Participation in Proposal

This proposal is facilitated by the Telos Foundation, A Cayman Foundation, the Telos Foundation is a distinct entity governed under Cayman law. No individuals or informally identifiable groups contributing to this proposal are acting in their individual capacities or as partners in any general partnership or other capacity other than as agents of the Telos Foundation which is the sole acting party to execute actions espoused by the Telos community.

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