Telos May 2023 Recap
May was a busy month for the Telos Network! With exciting new partnerships, new engaging marketing initiatives, and quality of life tech upgrades, the Telos blockchain and ecosystem continues to improve exponentially.
Most notably in May, we introduced the TEDP4 proposal, which proposed an 18.3% increase in total token supply, adding 65M $TLOS tokens. The aim? To capture a significant chunk of the 100M new gamers coming to the Web3 space in the next two years and position Telos as a top Blockchain for years to come. With 99.46% of the 61.8M Vote Tokens cast, the Telos community overwhelmingly supported TEDP4, passing this historical proposal.
In this article, we invite you on a journey through May’s milestones and highlights, offering an in-depth recap of the Telos team’s endeavors during this eventful month. So, without further ado, let’s get into it!
In May, the continued pursuit of excellence by the Telos Core Developers (TCD) led to significant quality of life improvements within the Telos Network. Their unyielding commitment to the constant evolution and fortification of the Telos Network was evidenced in a series of milestones across pivotal projects. These enhancements, along with critical bug fixes, are testament to their dedication to fostering stability, scalability, and ease of use within the network. These developments underscore our mission to present a robust, reliable platform that caters optimally to both users and developers. The notable accomplishments are outlined below:
Telos Core Blockchain
- Telos Native APP: Back-end API endpoints have been updated to improve user experience. Several improvements in the display of ballots and voting options. Improved mobile support.
- API Telos Net: We’ve added the new feature, ‘Market data route,’ updated supply exclusions, and increased system security. Privacy was also elevated by relocating the Recaptcha API key to AWS secret. Added MarketData endpoint which will serve the Telos Scan API with FIAT price data for major tokens.
- BP Auditor: We’ve boosted URL handling, enhanced history check functionality, and fixed SSL check inconsistencies. The BP Auditor has improved API endpoint detection and enhanced handling of full node_type for API endpoints. It has also corrected URL join function usage and error reporting for history errors.
- Token List: The token list was updated and expanded, including the addition of Testnet POPs, which will enable broader testing capabilities and foster innovation on the platform.
Telos EVM
- Telos EVM General Improvements: Improvements were made to the handling of receipt values, which will enhance transaction management and tracking, further strengthening the EVM’s overall functionality.
- Telos EVM Translator: Significant enhancements were made to the system’s codebase, with an emphasis on documentation, code readability, error handling, and database query optimization. This will enhance code maintenance and system performance, further strengthening the infrastructure’s efficiency and robustness.
- EVM Tests: Updates were made to the README documentation to improve clarity and accessibility, and a comprehensive test for internal value transfer was properly set up. These updates will ensure more accurate and reliable testing processes.
Teloscan & dApps
- Teloscan Indexer: The price calculation logic was refactored to better reflect liquidity differences between DEXes. Several bugs were fixed, such as TokenWatcher shutdown, and the transfer routes were optimized to provide more comprehensive and accurate transfer data. For instances where token liquidity is too low, the token price will now be deleted.
- Telos Wallet: Telos Wallet has undergone numerous updates in May, significantly improving usability and user experience. Version 2.0.1 was released, improving the wallet’s usability by enabling view balances, transactions, and the ability to send and receive EVM tokens. Several bugs were fixed to enhance the user experience, including issues related to font display, token balance visibility, and token selection functionality. Additionally, a fix was implemented to address issues with wallet connect transactions when no provider is available.
- Teloscan API Loadtest: A new repository was created to implement a load testing suite. This will enable the Teloscan API to withstand higher loads, thus enhancing its robustness and reliability.
Moving forward, the TCD team’s priorities include:
- EVM 1.5 contract
- EVM Webwallet
- Onboarding improvements
- TELOS ZERO
- NFT functionality
- Graphic and UI design improvements
- EVM 2.0 contract
- Governance Change backlog
- Back-end improvements: improve pricing APIs, NFT endpoints and node operator experience.
For a comprehensive exploration of the latest technical advancements in the Telos Network, delve into our newly launched series, ‘The TCD Snapshot!’
TCD Snapshot May 15th — 21st
TCD Snapshot May 22st — 28th
TCD Snapshot May 29th — June 5th
May heralded a surge in engaging content and interactive community AMAs that bolstered our efforts to usher newcomers into the thriving Telos ecosystem, resulting in enhanced community engagement. During this month, the Telos Foundation Marketing department welcomed aboard three pivotal figures, tasked with the acceleration of the Telos Network’s marketing and promotional endeavors. Our team has now been reinforced with a dynamic Ecosystem Manager, a creative Lead Designer, and a proficient Communications Officer.
In the pursuit of continually promoting Telos and aspiring to introduce our network to potential quality-driven projects and individuals, the Telos Foundation made a robust presence at the Next Block Expo. Furthermore, we have announced our participation in the upcoming Web3 Berlin 2023 conference, inviting further expansion into the Telos ecosystem.
As we steer our course through the digital terrain, the marketing squadron at Telos remains steadfast in raising global awareness about the innovative Telos Ecosystem. We are unwavering in our mission to position Telos as a preeminent contender in the blockchain arena, providing a decentralized, inclusive, and innovation-driven environment for everyone.
Marketing Highlights:
- Team Expansion: Onboarded new ecosystem manager. Onboarded new lead designer. Onboarded. PR Manager onboarded.
- Website updates: First wave of telos.net website improvements were deployed.
- Telos Weekly: We’ve continued to roll out our informative Telos Weekly series on YouTube as well as our Telos Weekly Express Newsletter on Twitter.
- New Series — TCD Snapshot: Shared weekly, the TCD Snapshot will shine a light on the critical yet often unseen advancements that shape the Telos Network. This is your unique chance to witness our progress, understand the intricacies of our work, and feel the heartbeat of Telos.
- New Series — TCD Weekly Q&A
- Conferences: The Telos Foundation attended Next Block Expo 2023 in Warsaw, Poland. The Telos Foundation has also announced that it will be attending Web3 Berlin 2023!
- TEDP4: Rollout of TEDP4. Hosted various community AMAs focused on educating the Telos Community about the TEDP4 proposal. The Telos community overwhelming supported TEDP4, with 99.46% of the 61.8M Vote Tokens cast in approval of the proposal.
- Telos Zero: Introduced Telos Zero to the Telos community. Created and refined Telos Zero branding.
- Powered by Telos Infrastructure: Hosted a new installment of our popular Monthly Powered by Telos Twitter spaces diving deep into Web3 Infrastructure.
- Recurring Content: Continued production and hosting of recurring content and community events. Telos Thursday Talks, Telos NFT Show, Weekly Express.
- Consensus 2023 Recap: Introduced a new Consensus recap series following the Telos Foundation at Consensus 2023.
- New Video Tutorials: Brand new Video tutorials added to the Telos YouTube covering topics such as how to create a Telos Wallet, and more.
- Telos Network Quarterly Report for Q1 2023 Published
- Introduction of the Telos GameFi Vision
- The Successful Completion of Season 3 of the Telos Zealy: This initiative dramatically boosted community interaction and ecosystem participation by rewarding our most loyal community members. Engaging in ‘Quests’, participants seized the opportunity to accumulate points and vie for supremacy on the leaderboard. The pursuit culminated in them garnering significant rewards, making their efforts worthwhile and stimulating further involvement.
During May, the Telos Business Development team executed several strategic alliances, which are primed to bring substantial enrichment to the Telos ecosystem. The newly formed partnerships include:
Altura — The technical side of Web3 Gaming can have lots of different aspects to navigate, and our commitment to the improvement of Web3 gaming just took another step with our partnership with Altura! Altura’s APIs and SDKs allow for developers to build and scale their games on Telos, simplifying integration and giving an even bigger boost to the Gaming infrastructure.
Hypermove — Another step in proving that Gaming on Telos is here to stay, our latest partnership with Hypermove serves to further establish our presence in the Web3 Gaming industry through partnering with the key players that power the space. Hypermove will be debuting their upcoming game on the Telos network, giving users even more ways to play!
WagyuSwap Integration — With all the Web3 Gaming focus we’ve had recently we haven’t been able to forget the bread and butter of blockchain — decentralized finance. With that in mind, one of the hottest DEXes to hit the market in WagyuSwap is now available on Telos! See what we’ve been cooking up on Telos and experience one of the fastest DEXes on the fastest, fairest blockchain.
Pomelo — Telos is committed to real change in our ecosystem, and we’ve partnered with Pomelo to introduce a 140K TLOS contribution that will go towards sparking innovation in the space. Pomelo is an open-source crowdfunding platform that allows for the support of projects used to further the blockchain space, and Telos is proud to partner with them to help achieve that purpose.
Throughout May, the Telos NFT Department was in a state of constant industry, working diligently to foster the swift growth and sustained adoption of the Telos NFT ecosystem. The team has been actively involved in a variety of in-person events and has initiated new strategies aimed at elevating Telos’ stature as a formidable force within the NFT landscape.
Telos NFT Department May Highlights include:
- Season 2 of the Artist Spotlight was launched by the Telos NFT Department in collaboration with Launchifi, featuring the talented Toco Deco.
- VazNFT represented Telos at the ReFi Toronto event, spreading the word about the tangible impact that Telos’ NFTs are making in the real world.
- The Telos NFT Department was spotlighted on GOAT Studio Artist’s show, attended by over 500 listeners.
- Telos Foundation was a vibrant participant at Goat Studio’s Innovation Junction in Toronto. Our Telos artists drew attention with their impressive works on display, and Peter Nguyen, the TF CMO, engaged the audience in an insightful dialogue about the Future of Generative Art as a panelist. This event was a stunning display of the union of art and innovation!
- Furthermore, Swapsicle unveiled their debut collection, Ice Cream Zombies. The Telos NFT Team hosted the Swapsicle Ice Cream Zombies Launch Party AMA, generating significant excitement within the community!
The Telos NFT Team remains committed to exploring new frontiers, fostering artistic talent, and driving innovation on Telos.
May proved to be a challenging month for Telos DeFi, primarily due to the unexpected failure of the MultiChain bridge. This unfortunate incident resulted in the depegging of the USDC stablecoin on the Telos network. Our team has been working tirelessly with our partners to ensure that the Telos markets are not negatively affected. We have taken precautionary measures to minimize risk and exposure for the Telos liquidity fund. This has involved extensive analysis and monitoring of the markets to safeguard the interests of our community.
Simultaneously, we have been actively pursuing new DeFi partnerships, expanding our team, and securing alternative bridge solutions. Our goal is to restore the DeFi ecosystem on Telos with enhanced security and reliability.
Looking ahead to June, we are focused on finalizing the new bridge solutions that will enable us to restart the Telos DeFi ecosystem. We understand the importance of a robust and resilient infrastructure, and we are committed to delivering a seamless experience for our community members.
We appreciate your patience and support during these challenging times. We are confident that the steps we are taking will pave the way for a stronger and more vibrant Telos DeFi ecosystem. Stay tuned for further updates and announcements as we work towards securing our new bridge solutions. Together, we will overcome these obstacles and continue our path of innovation and growth.
Thank you for being an integral part of the Telos DeFi community. If you have any questions or concerns, please do not hesitate to reach out to us. Your feedback is essential to us, and we value your commitment.
Some of the key highlights from May are:
- Continued campaigns with Swapsicle and Omnilend.
- Closed the partnerships with key wallet providers, announcements coming in June to help grow our DeFi ecosystem.
- Onboarding new DeFi lead to the team (Starting from July, already started helping us out)
- Research and exploration of new bridge solutions
- Telos Boost program paused temporarily till the situation with bridging resolves- So far 10 applications have been received (4- Rejected, 6- Approved, 1- Ongoing).
- 40+ projects in the DeFi/Infra deal flow.
- Positive discussions with top-tier exchanges, potential announcements in the following months.
L&E Finances:
- We currently have ~$6 million in assets and 47% is in TLOS token.
- Liquidity Fund activities:
- Snapshot of L&E funds (as of 30th April 2023):
Conclusion
May marked a month of unrelenting dynamism for the Telos Network, with landmark developments spanning from the successful passage of the TEDP4 vote to the forging of new alliances within the realm of GameFi. Telos, undeterred by challenges and unceasingly innovative, continues to expand its horizons and redefine the paradigms of the web3 sphere. As we press forward, the prospect of what future breakthroughs may come continues to inspire and invigorate us, further fueling our quest to reshape the digital world.
We want to take a moment to express our profound gratitude to the Telos community. Your continued support, enthusiasm, and faith in our shared vision are the driving forces that propel us forward, even amidst uncharted waters. Your constructive input, active participation, and relentless dedication serve as the backbone of the Telos Network’s thriving ecosystem. Together, we will continue to forge ahead, solidifying Telos’s position as a leader in the blockchain space. Thank you, each and every one of you, for being an invaluable part of this remarkable adventure.
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