AMA RECAP WITH TELOS FOUNDATION HELD ON 13/05/2021

We held a live telegram ama session with Telos Foundation in our official telegram channel on 13th May,2021 and here is a recap for the same in case you miss the live ama session

Hello @Infinityblocio I welcome you on behalf of whole Dappcentre Official Community for an ama session

Guest :- Hi everyone

@Infinityblocio Are you ready to start the ama :)

Guest :- Yes sir

Segment 1 – Host questions

Q1 Could you introduce yourself and your team to DAPPCENTRE OFFICIAL Community!

Guest :- Im currently overseeing leadership of the Telos Foundation, we are a entity that represents the Telos Blockchain Network on PR, Business Development, Marketing and Deal Making. We are elected by the Telos Community and serve the community. They can remove our funding at any time if we are not doing a good job 🙂

Q2 What is Telos all about , it’s usecase and where all is it listed??

Guest :- Here is a little comparison we did to show where we fit in along with other projects in the web 3 ecosystem

Telos is all about offering fast and scalable smart contracts, NFT's, tokens and other decentralised services. I guess you could say we are building an open digital economies that anyone can have access to.

DeFi and transaction are still way too expensive and unusable. Even BSC prices are 25c, half the world cant afford to pay these sorts of prices.

Telos really changes that with free transactions(for users), 10,000 TPS on both eosio and EVM development standards.

Using Telos is the difference between using a fax machine and using email or instant messaging.

That's amazing people just copy paste nowadays but you had a completely different idea and implemented it pretty well actually :)

Guest :- true, whilst we leveraged the eosio open source software, we have built a whole governance structure and a number of differenent platform services.

Q3 What are the tokenomics of Telos and also mention about locking and all??

Guest :- Telos has a current supply of about 355M tokens and that number has not changed in over 18 months. So there's effectively no inflation on Telos right now and we expect that will continue for at least the next two years. Telos has a reserve of tokens from airdropped accounts that were not claimed after 1 year from mainnet launch and this is being used to fund the chain without inflation and provide excellent staking rewards of around 16% APR.

The TLOS token is used to reserve network resources (staking ensures resource availability but staked tokens are not consumed) and governance - Telos is run by its users voting for the validators running the chain, but also how funds will be applied to various groups and initiatives as well as the network operating agreement rules.

Our governance all uses our Telos Decide engine, which outside groups are now adopting. For example, the GBA - Governement Blockchain Association which has over 15,000 members, mostly in government positions, built its own DAO using Telos Decide.

TLOS tokens are also used to pay for costs of Telos premium services like Telos EVM, Telos Decide governance, and the upcoming Telos Location, Telos Private, Telos ID and more. These fees are very low but together they will fund the operation and growth of the chain once the reserves are depleted. They will allow Telos to continue having basic transactions (transfers, dapps usage) with no fees.

We currently only have staking which requires tokens to be locked up for 3 days, we have also sold T-Bonds which are NFT wrapped tokens locking tokens for 3, 6, 12 or 25 months - a very innovative DeFi mechanism we were the first to achieve. We used this to raise money for major listings.. The first of which is coming up next week!!

Q4 You quoted on twitter “Telos will bring defi to people who are not crypto rich “ Please explain this statement?!

Guest :- Its all about our pricing, speed and accessibility.

You can already experience free transactions with Tstarter and tswaps.. and soon when Telos EVM launches you will see all kinds of Ethereum based DeFi drop on our network!

These will have transaction costs starting from 1c to match the ethereum gas model but this effectively allows trading of pennies. We can bring prices down even further if the stakeholders want this.

As i said before, current DeFi really shuts the door on most of the world! You have to be already crypto rich to take part.

Q5 Could you share in your roadmap here and explain some of the important milestones mentioned in roadmap also you have an ongoing giveaway please share some details about the same??

Guest :- Our Roadmap:

At the end of last year, Telos published our technical roadmap for 2021. It included things like our Liquidity Improvement Plan, adding T-Bonds, dStor decentralized storage, Telos EVM, Telos Location, Telos ID, Telos Private, our Decide Voter mobile app for Telos Decide, our online convenient but secure Telos Wallet with Telos Sign.

We are doing great on these with everything on track except Telos EVM and dStor which were scheduled for Q1 release but will probably launch this month instead (dStor will start rolling out next week, actually).

Telos has committed to doing a video progress update every quarter. The most recent one was over an hour long and included several demos of new projects and showing the progress of those projects not yet complete. As far as I know, Telos is the only chain with this level of transparency and accountability.

Telos EVM, dStor and Decide Voter mobile all have public checklists updating their progress and I and the lead engineer for Telos EVM just recorded almost an hour of new videos and demos of the current Telos EVM progress. Those three videos are being uploaded to our YouTube channel right now in fact and will be available in an hour or so.

I’m personally very excited about Google login coming to Telos Wallet - this is much needed for mainstream adoption - we already have 800k user accounts but we need to be talking 800 million in the next 5 years. New ways to login and sign transactions super easily is absolutely critical to reach these sorts of numbers.

Also Telos Privacy, a Monero like Privacy layer for sending and receiving transactions on Telos. People will be using this even to send bitcoin fast and near feeless on the Telos network. Privacy is an expectation for mainstream adoption.

Its probably worth going into Telos EVM a bit further.. as its probably the biggest thing on the near term horizon!

Telos EVM will have half-second blocks (30x faster than Ethereum, 10x faster than BSC). Its capacity is 100-500x that of Ethereum or BSC. The gas prices will be between 0.1% - 0.01% of recent Ethereum gas fees.

Telos EVM places Telos as the fastest, most performant Ethereum compatible blockchain today.. Ahead of BSC, Polkadot, Avalanche and everyone else!

Segment 2 – Twitter Questions

Guest :- Yes sir

Q1 Many new projects made a good impression at first but were suddenly abandoned. How will you manage the project and token to gain a place in the market and become a best token in the blockchain world?

Guest :-Well Telos has been setup to sustain over the long term. We had over 150 founders take us to the launch of Telos, we distributed the tokens in a very decentralised way using the EOS original snapshot and then capping accounts in that snapshot to 40,000 tokens.. We have no majority stakeholder and no team that we cant live without.

Typical projects have a single team that must be in place or the project does not continue. Telos has over 50 validators and the 800,000+ strong community can vote in a new Telos Foundation any time.. it can also continue without us.

During the down market of 2018-2020 Telos on boarded over 100 projects who are now reliant on the Telos network continuing to function.

These projects will spin up a node at any time if needed to support the network.

Telos has no single point of failure. The chances of Telos failing and turning into nothing at this point i believe is comparable to Ethereum or Bitcoin stopping.

We are an unstoppable force and as new people come in and we grow.. our chances of failure continue to diminish.

We will continue to add more and more use cases for our token. It is already required for governance and staking for blockchain resources.. it will also be required for payment of gas fees(telos evm), decentralised storage(dstor), private transaction fees (Telos Privacy) and so many other services. Along with continuing to be adopted as a liquidity provision for tokens building on Telos, as a marketplace currency and so much more!

Q2 What advantages do you offer in terms of other blockchain also could you tell a bit about transaction speed and gas fee and security and all?

Guest :-Well Telos is the first and only blockchain that supports both the two smart contract development standards that dominate Dapp Radar. This opens Telos up to the largest developer pool of any blockchain.

But yes, our speed with 0.5s block times and 10,000 tps is going to make using current DeFi look like using dial-up internet with free or ~1c transaction being utilised its also much more accessable.

Telos uses Delegrated Proof of Stake, its highly audited, never been hacked.. and the core code is maintained by block.one a company that has raised over 4 billion dollars. Over 50 validators review the code before implimenting each version.

Telos uses Elliptic curve cryptography, same as EOS. We just have a better governance model, more products and services built on top and have become much more popular for Real World Apps.

Q3 What will the role of the community play in the your project ecosystem? When developing and updating your platform, will you take into account the community‘s requests and suggestions?

Guest :- Well as a DPOS network , the community actually decides the validators who run the blockchain via a vote, the community also can push forward amendments to how the blockhain governance and tokenomics work via 'Telos Amend'. A more than 51% yes vote causing a change to take place. There is really not a lot of seperation between the community and the team. We are all community and we are all part of the Telos team anyone can take part in pushing Telos forward, even you 🙂we consider everyone joining telos to be a founder! we currently have a market cap of like 60 million, that is nothing in the grand scheme of things.. thats how early we are.

Q4 I have seen your Telos project about technology such as EVM virtual machine technology and What is this technology and how it useful for us?

Guest :- Telos EVM opens telos up to solidity based contracts, forks or deployment of popular apps like uniswap, sushiswap, open sea.. use of web 3 wallets like metamask. This effectively over doubles Telos' market opportunity.

Q5 Since you are a blockchain , partnerships might be a very important thing for you .So are you open for partnerships and have you already done some partnership worth mentioning??

Guest :-We are doing partnerships all the time. We have a critical partnership with ptokens.io which has opened up bridges to Ethereum and Binance Smart Chain. This partnership has boosted Telos liquidity tremendously!That partnership allowed us to list on pancakeswap recently :-)

We have more partnerships coming up for sure especially in relation to Telos EVM in June we will begin listing on major dapp statistic websites as another example and next week.. well a more exchange listing could be happening 😉

So in summary, yes we are open to partnerships and actively persuing them

Segment 3 – Community segment

Guest :- yes , lets do this

Q1 Can you explain the integration of eosio and evm smart contracts and the uniqueness it would bring into your product and a tentative date by when this could be completed ??

Guest :- So we expect to have these applications running seamlessly side by side with same signers. Basically the uniqueness is you will see more apps on telos than any other blockchain. My estimate is we will see a release in the next 3 to 4 weeks but for now developers can already run their dapps on our testnet.

Q2 Very little public confirmation of project progress. Can you share the current progress of Your project?

Guest :- Please see telos.net - we have public updates monthly!

Q3 You can find other projects that are similar to yours. What do you bring to the table that your competitors don’t? In other words, what is your Unique Selling Point?

Guest :- Speed, Scalability and Traction .We are leading the way on everything except visibility right now. So that is an area we are going to improve on! Please stay tuned, follow us on twitter on @hellotelos – We have a major listing next week which will boost this(Kucoin).. and many more to come

It's our pleasure and wish you all the best with Telos and you really answered the question in so much detail I really appreciate your efforts :)

Guest :- Thank you for having me

Telos — Website/Telegram/Pancakeswap/Uniswap

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