Telos Network Quarterly Report (Q1 2023)

Telos Foundation
12 min readMay 5, 2023

Executive Summary

As we reflect on the remarkable progress made in Q1 of 2023, it’s evident that the Telos ecosystem has been thriving. We at Telos can’t help but feel a surge of pride for the incredible achievements and milestones reached in such a short span of time. Our teams have been working around the clock to expand the Telos ecosystem, forging new partnerships, growing the community, improving network infrastructure, and making waves in the NFT space. This quarter has truly set the stage for a phenomenal year of growth and innovation.

One of our standout accomplishments this quarter has been the expansion of the Telos DeFi ecosystem, thanks to the tireless efforts of our liquidity and exchanges team. Their dedication to ensuring high-quality listings and making the $TLOS token more accessible has brought unprecedented value to our platform, attracting new users and investors alike.

With 33 new high-quality partnerships in this quarter, combined with our engaging marketing campaigns, community AMAs, and attending world renown conferences, we have garnered well-deserved attention for Telos. Our commitment to fostering creativity in the NFT space through artist grants and strategic partnerships showcases our unwavering dedication to the community and the future of digital art.

The synergy between our Telos Core developers, Marketing team, Business Development Team, Liquidity and Exchanges, and the Telos NFT team has been nothing short of spectacular. We’ve united under a shared vision of innovation and growth, and the results speak for themselves. With our robust network, a highly engaged community, and a steadfast commitment to excellence, the sky’s the limit for Telos.

As we forge ahead into the rest of 2023, we’re thrilled to carry the momentum from Q1 with us. Our teams are more motivated than ever to continue pushing the boundaries of what’s possible in the blockchain space. The future is bright for Telos, and we can’t wait for you to be a part of our exciting journey.

Justin Giudici (CEO, Telos Foundation)

The Telos Core Developers (TCD) made significant progress in Q1 2023, focusing on the development of prioritized roadmap items, and enhancing the Telos ecosystem. Key milestones include improvements in the Telos EVM, AntelopeIO Trustless IBC implementation, API releases, and EVM Web Wallet updates. Here is a summary of the TCD’s accomplishments in Q1 2023:

Telos Core Developers Blockchain Roadmap released.

  • In Q1 2023, the TCD revealed their comprehensive 2023 Blockchain Roadmap, detailing every planned network upgrade for the year ahead. This carefully crafted plan demonstrates the TCD’s commitment to maintaining a professional and innovative approach, ensuring a promising year ahead for the Telos Network.

Core Telos Blockchain Protocol Upgrades

AntelopeIO Trustless IBC Implementation:

  • Began implementation to enable a wide range of use cases, including decentralized exchanges (DEX), cross-chain atomic swaps, decentralized finance (DeFi), multichain dApps, supply chain management, gaming, identity management, and insurance.
  • The integration of IBC will provide horizontal scalability and secure transfer of assets across all Antelope chains. The possibilities this opens are endless and includes many use cases across a broad range of sectors including Multiple Sidechain Potential, Unlimited TPS and Unlimited Scalability, Multichain Exchanges, Atomic Swaps and Trustless Bridges.

Antelope LEAP 4.0-RC2 Released and Running on Stagenet:

  • Introduced read-only transactions, auto-peering with scheduled proximal BP nodes, snapshot scheduling API, Prometheus Exporter Plugin, and log splitting.

Network Growth:

  • The Telos network reached nearly 20 million blocks, showcasing stability and growth.

Telos EVM Upgrades

Telos EVM Development:

  • Addressed Trx receipts and gas usage issues in EVM 1.5.
  • Developed a custom plugin for AntelopeIO to address RPC inconsistencies for consistent block hashes.
  • Launched the EVM API, available at, and the associated GraphQL
  • New benchmark performance research is in production highlighting the performance of the Telos EVM (Coming soon).

EVM Web Wallet Updates:

  • Integrated multiple features to improve user experience and functionality.
  • Added Wallet Connect and MetaMask (MM) login options.
  • Enabled users to view all account balances on the EVM Web Wallet.
  • Added the ability to send and receive tokens within the wallet.
  • Integrated Simplex for direct TLOS purchases.

Teloscan Upgrades

Enhancements to Teloscan, and Telos Explorer:

  • Implemented numerous small improvements, optimizing user experience and functionality.
  • Integrated Greymass Fuel with the explorer.

TCD Q1 Expenditure

TCD Q1 Expenditure

These accomplishments in Q1 2023 demonstrate the TCD’s commitment to the ongoing development and growth of the Telos ecosystem. Through the team’s continuous efforts, the Telos network is well-positioned for further advancements in the blockchain space.

In Q1 2023, the Telos Foundation Marketing Department made significant changes to department structure as well as overall strategy for communications with a key focus on brand positioning, product awareness, community transparency and visibility. The team has been able to improve social presence across all metrics including engagement, impressions, reach through utilizing a revamped messaging system with a focus on clarity and user call-to-actions. We believe that the foundation for a successful marketing department has been established and for Q2–4 there will be a major focus on ecosystem growth and user onboarding. While TF Marketing has taken great strides from 2022, we understand that there is still much work to be done in order to make Telos a house-hold name. This continues to be the ultimate goal as we introduce further network updates and integrate major partnerships that will increase the overall brand awareness and utility of the network.

Team Expansion and Growth:

  • Welcomed Peter Nguyen as the Telos Foundation CMO.
  • Added an experienced Marketing Manager and Graphic Designer to the team.
Telos Foundation Marketing Team 2023

Campaigns and Initiatives:

Events, Conferences, and Collaborations:

Content Strategy and Communication:

  • Implemented daily themed content highlighting Telos vision, mission, core products, ecosystem, and community.
  • Introduced TCD Roadmap Overview Series for in-depth information on planned Telos products in 2023.
  • Initiated the creation of an enhanced Telos website to elevate user experience. At present, we are nearing completion of the remaining pages and will soon transition into a rigorous Quality Assurance phase, followed by public testing rounds, to guarantee the best user experience.
  • Launched Telos Weekly YouTube series with Chris Barnes and Waxa from Helios. A weekly recap of the latest news in the Telos ecosystem, available on the Telos YouTube channel.
Telos Weekly Series

Community Engagement and Metrics:

  • Successfully completed Season 1 of Telos crew3 (now known as Zealy) and launched Season 2 to gamify community tasks and promote awareness.
  • Experienced a surge in community engagement and awareness, with over 1.6 million impressions on Twitter in Q1.
2023 Q1 Twitter Impressions

These Q1 2023 accomplishments showcase the Telos Marketing Department’s dedication to increasing awareness and engagement for the Telos ecosystem. Their efforts have effectively positioned the Telos network for further growth and success in the blockchain space.

During Q1 2023, the Business Development team at Telos has been highly productive, forging 33 new partnerships to expand and enrich the Telos Ecosystem. Below is an overview of all the latest additions to the Telos Ecosystem.

New 2023 Q1 Ecosystem Partners

New NFT Ecosystem Partners:

New Infrastructure Ecosystem Partners :

New Launchpad Ecosystem Partners:

New GameFi Ecosystem Partners:

New DeFi Ecosystem Partners:

The Business Development team remains steadfast in its commitment to bringing only the highest-quality projects into the Telos ecosystem. With numerous exciting developments in the pipeline, they are dedicated to further enhancing the network’s offerings and capabilities.

Q1 2023 proved to be a successful and productive quarter for the Telos NFT Department, marked by establishing core values, strategic direction, new partnerships, onboarding of key infrastructure tools, and various successful campaigns. Here are some of the major accomplishments and milestones achieved by the Telos NFT team during this period:

Core Values and Strategic Direction:

  • In January, the Telos NFT team established a set of core values to position the company for further success in the NFT space. This involved creating case studies on innovative applications of Telos technology in projects such as Telland, KandaWeather, and Unbound. The strategic direction for the year was also determined to better target and pursue partners in the crypto industry.

New Partnerships:

  • Several new partnerships were established during Q1, including collaborations with Launchifi, Squarity, and KitcheNFT. These partnerships reinforced Telos’ NFT infrastructure, creating a more authentic and iterative relationship with partners to enhance the overall effectiveness of operations.

Onboarding of Key Infrastructure Tools:

  • In March, the department onboarded essential infrastructure tools such as, which enables users to create NFT galleries easily, and thirdweb, a powerful tool for developers to deploy their own smart contracts via well laid out SDKs.

Artist Grants and Campaigns:

  • The Telos NFT team witnessed a remarkable influx of artist grants in Q1, as six gifted artists introduced their captivating creations to the Telos community. With open arms, the Telos NFT community embraced these emerging talents, demonstrating the platform’s supportive environment and eagerness to foster new artistic voices in the NFT space.

NFT Goat Valentine’s Day Event:

  • In collaboration with Goat Studios, the Telos NFT team held the NFT Goat Valentine’s Day event, where ten winners had their work curated in downtown Toronto. The contest provided an excellent opportunity for Telos NFT artists to display their talents and gain exposure.

Outer Edge (NFTLA) Conference Participation:

  • The Telos NFT team attended the Outer Edge (NFTLA) conference, where selected works were showcased in collaboration with Goat Studios. This event provided an excellent opportunity for networking and engagement with potential partners, demonstrating Telos’ resilience and commitment even during bear markets.

The Telos NFT Department accomplished significant milestones in Q1 2023, demonstrating strong commitment, innovation, and dedication to the growth and success of the ecosystem. The department’s achievements, ranging from strategic planning to successful campaigns and partnerships, indicate a bright future for Telos in the NFT space.

Telos Liquidity and Exchanges (L&E) had a dynamic and productive first quarter in 2023, with several significant accomplishments:

January Accomplishments:

  • Expansion to India with CoinDCX listing.
  • Increased signatories for Fuel & L&E Treasury.
  • Telos Boost applicant vetting.
  • Organization of Docs & Partnership Management.
  • Re-assessment of liquidity allocations.
  • Maximum efficiency towards DeFi onboarding.

February Accomplishments:

  • CoinDCX campaigns kick-off to create more awareness.
  • Swapsicle launched on TelosEVM, reaching $1M+ in TVL ATH.
  • Archly Finance received Telos Fuel support.
  • Bitrue listing.
  • Defibox listing with more liquidity and incentive campaigns.
  • Progress with Telos Boost applicants.
  • 15+ projects in the DeFi deal flow.
  • Ongoing discussions and evaluation work with top-tier exchanges.

March Accomplishments:

  • Archly rainbow road kickoff.
  • Swapsicle launchpad went live with the announcement of the first projects.
  • Huobi Staking campaign.
  • WagyuSwap announcement.
  • Chainge Finance now supports Telos.
  • Finalized new projects to be announced from the Telos Boost program.
  • 25+ projects in the DeFi deal flow.
  • Onboarding of a new market-making partner to increase liquidity depth across the top exchanges.
  • Ongoing discussions and evaluation work with top-tier exchanges.

Throughout the quarter, Telos L&E team focused on expanding their reach, building partnerships, enhancing liquidity, and fostering the growth of the DeFi ecosystem on the Telos network. As a result, several new listings, campaigns, and DeFi projects were launched or announced, contributing to the network’s overall development and success.

Q1 2023 has been a fruitful quarter for the Telos Liquidity and Exchanges (L&E) team, as they successfully implemented their goals and strategies. Moving forward, the team is well-positioned to continue building on this momentum and further strengthen the Telos ecosystem.

Here’s a brief overview of the team’s strategic direction and focus areas for the upcoming months:

  1. Expanding Global Reach: Building on the successful CoinDCX listing in India, the team will continue to focus on expanding Telos’ presence in other emerging markets. This will involve partnering with more local and regional exchanges to improve accessibility for a wider range of users.
  2. Supporting DeFi Growth: The team will maintain its efforts to boost DeFi projects on the Telos network through initiatives such as the Telos Boost program. By attracting new projects, enhancing liquidity, and providing incentives, they aim to create a thriving DeFi ecosystem.
  3. Strengthening Partnerships: Collaboration is key to the success of the Telos ecosystem, and the L&E team will continue to forge partnerships with various stakeholders in the industry. This includes working closely with existing partners like Archly Finance, Swapsicle, and OmniLend while also seeking new strategic alliances.
  4. Improving Liquidity and Order Book Depth: To ensure the long-term success of the Telos network, the team will continue to work on increasing liquidity depth in the order books across top exchanges. By onboarding new market-making partners and optimizing liquidity allocations, they hope to provide a more seamless trading experience for users.
  5. Streamlining Onboarding Processes: The L&E team recognizes the importance of reducing onboarding time for new DeFi projects, and they will work towards refining internal processes and providing support to expedite the onboarding journey.
  6. Attracting Top-Tier Exchanges: Engaging with top-tier exchanges remains a priority for the team, as it opens up opportunities for wider adoption and greater liquidity. The team will continue to evaluate potential partnerships with these exchanges to enhance Telos’ market presence.

Through continued focus on these strategic areas, the Telos L&E team aims to create a robust and thriving ecosystem that benefits all participants. The accomplishments of Q1 2023 have set a strong foundation for the team to build on, and the future looks promising for the Telos network.

Telos Foundation Q1 Expenditure

Telos Foundation Stable Costs Q1 2023
Telos Foundation $TLOS Costs (In $USD) Q1 2023
Telos Foundation Actual Spend ($TLOS) Q1 2023


In summary, the first quarter has proven to be an exceptionally fruitful period for the Telos ecosystem. Our network’s recognition continues to grow, and our dedicated team remains steadfast in their mission to create the most efficient, community-driven platform available. As we transition into the second quarter, our primary focus will be on the burgeoning GameFi sector, which we have been closely monitoring throughout Q1.

This emphasis will encompass the unveiling of our comprehensive Telos GameFi vision and a more concerted effort to broaden the GameFi ecosystem. Telos is ideally suited for GameFi, as gamers demand top-tier performance and responsiveness — qualities that are intrinsic to our network. We would like to express our heartfelt gratitude to the phenomenal Telos community for your unwavering support and your enthusiasm in sharing the Telos story!

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