[vc_row type=”vc_default” full_width=”stretch_row” equal_height=”yes” parallax=”content-moving” parallax_speed_bg=”1″ bg_type=”image” parallax_style=”vcpb-default” bg_image_new=”id^989|url^https://telos.net/wp-content/uploads/2021/01/backgroundLight31.svg|caption^null|alt^null|title^backgroundLight3(1)|description^null” enable_overlay=”enable_overlay_value” overlay_color=”rgba(255,255,255,0.9)” css=”.vc_custom_1614016941715{padding-top: 40px !important;}”][vc_column css=”.vc_custom_1609606294965{padding-bottom: 20px !important;}”][vc_single_image image=”2410″ img_size=”large” alignment=”center” css_animation=”none” css=”.vc_custom_1614982140773{padding-top: 20px !important;padding-bottom: 20px !important;}”][/vc_column][/vc_row][vc_row type=”vc_default” full_width=”stretch_row” bg_type=”image” parallax_style=”vcpb-default” bg_image_new=”id^989|url^https://telos.net/wp-content/uploads/2021/01/backgroundLight31.svg|caption^null|alt^null|title^null|description^null” enable_overlay=”enable_overlay_value” overlay_color=”rgba(255,255,255,0.95)” css=”.vc_custom_1614017070261{padding-top: 20px !important;}”][vc_column][ultimate_heading main_heading=”Liquidity raise event a huge success” main_heading_color=”#571aff” sub_heading_margin=”margin-bottom:25px;”][/ultimate_heading][vc_column_text css_animation=”fadeInUp” css=”.vc_custom_1614982765040{padding-bottom: 30px !important;}”]

It is an amazing feeling to sit here and to be able to say the liquidity raise, first set out in the T.U.L.I.P plan towards the end of 2020, has been a huge success.

For the Telos blockchain, and particularly for us here at the Telos Foundation, without funding, it has been challenging to bring TLOS to more markets and get the word out about the amazing things people are doing on Telos every day.

 

 

Preserving the decentralised dream

We are battling for oxygen in a highly congested crypto space, where most projects have traded true independence of their token and ecosystem for VC funding. Millions of tokens are given to venture capitalist funders (creating whales that hold 40% or more of the token supply) in return for capital; this capital is then used to deploy marketing strategies, often costing millions of dollars.

At the Telos Foundation, we had the challenge to come up with a creative way to acquire our own funding for the marketing and development of the chain without compromising its decentralisation. And so, the TULIP plan was born.

Now, as we write this on March 5th 2021, almost every element of the TULIP plan has now been delivered, and we say that with both huge excitement and relief.

It has been a difficult road to get here. But now we have the fuel and the destination is in sight.

 

 

The fuel

In this fun and ‘super original metaphor, ‘the fuel’ is, of course, the funding raised; and now for the fun bit. How much fuel has the Telos Foundation garnered for the journey ahead:


First was the T-Bond sale (our own take on a combination of DeFi and NFT’s); this raised approximately a total of 6.8 BTC (at time of writing ~ $326,000).

 

 

Second, and more recently, was the bounce.finance swap, granting early access to our new ERC-20 TLOS before we open the bridge, allowing TLOS holders to deploy their TLOS on the blockchain of their choice, Telos or Ethereum.

This was made up of a public auction on bounce.finance, and strategic OTC deals for those wanting to purchase 1 BTC or more. The total raised was approximately 1123 ETH (at time of writing ~ $1,680,270).

The total raised across the entire Liquidity Raise Event in USD is ~$2,006,270.

 

 

The destination

The Liquidity Raising Event (LRE) provided a huge amount of fuel for our journey, and for that, we have to say a huge thank you to all of you. Our backers, our believers, our users.

The first step was to create a large liquidity pool on Uniswap, the world’s most used Decentralised Exchange. This has been achieved; 200 ETH has been locked into a LP on Uniswap for 3+ years.

As Suvi Rinkinen, CEO of the Telos Foundation, explains, First comes marketscommunity, and distribution of the stake.

Telos has never had an ICO or any sort of fundraising before. This automatically means we lack liquidity on exchanges and the ability to pay the fees to launch on tier 1 exchanges. This lack of liquidity in TLOS means the token has always struggled to attract traders. 

At its core, Telos is a tech community, and, until now, we havent really had any crypto traders involved. This is the distribution of stake. Up until now, there has never been a way to accumulate TLOS in large amounts unless you have either been working for the blockchain or patiently setting buy orders on the limited amount of exchanges you could find TLOS.

TLOS has been trading for just over 2 years, but it has been trading on illiquid markets; as a result, real price discovery has never really happened because it hasn’t been possible! The amounts traded up until now on Probit and CoinTiger do not represent lucrative markets, it is pocket money in comparison to the volumes most tokens experience. 

On some days, trading volumes could be as low as $400, on a good day this might get as high as $50,000. As I said, in comparison to markets on the likes of Uniswap, and other tier 1 exchanges, this trading volume is nothing. In our first day on Uniswap, TLOS did $682,100 in trading volume.

It is amazing that we have got to where we have without access to these markets, really, and I think a testament to the fantastic work everyone who develops and uses Telos is doing. 

The next steps on our journey are to put the liquidity we have raised to work. Some has gone into Uniswap; some will also go into Tswaps, providing liquidity for token swaps on the Telos blockchain, with the rest going to marketing and centralised exchange listings. Of the total raised, around 80% will go towards TLOS entering new markets, and 20% on marketing. 

As we are enacting this part of the plan, we will continue to announce our partnerships with some really exciting and groundbreaking dApps, we hope to see more dApps migrating to the blockchain, and of course, we will continue down our ambitious technical roadmap for 2021.

Strategically, we want to position the Telos blockchain to cooperate with and enable other blockchains. That is why we have almost finished the development of our Telos Ethereum Virtual Machine. We want to build bridges, not walls, and tie Telos into a larger crypto community. 

By issuing our ERC-20 TLOS token we open the door to dozens of other 3rd party services, such as DeFi on Ethereum and more, which only makes the Telos ecosystem even bigger. At Telos we say we are an open ecosystem, so we should act accordingly, and bring our decentralised movement to as many chains as possible.”

Our next stop on the journey will be finalising listings on tier-1 centralised exchanges and we can’t wait to share this news with you when we have it!

Until then, Telosians.

 

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If you have a question or would just like more information please contact us by email

[/ultimate_heading][just_icon icon=”icomoon-the7-font-the7-mail-01″ icon_size=”32″ icon_color=”#571aff” tooltip_disp=”right” tooltip_text=”Email hello@telosfoundation.io” css_just_icon=”.vc_custom_1612281035598{margin-top: -20px !important;}”][vc_column_text]

hello@telosfoundation.io

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