Blockchain Platform Telos To List On Decentralized Cryptocurrency Exchange Uniswap
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Blockchain platform Telos has announced plans to list on Uniswap following a liquidity implementation plan called the Telos Uniswap Liquidity Implementation Plan (TULIP).
Telos is a high-capacity network and the second most active blockchain platform in the world according to Blocktivity. Telos features a robust, third-generation blockchain governance system including advanced voting features and smart contracts that can be fully configured to meet the needs of any developer. Telos also supports the blockchain ecosystem by serving as an incubator and accelerator for decentralized applications.
Telos will issue an ERC-20 TLOS token available for presale this month with the exact date to be announced on the Telos website 48 hours before the sale commences. This will generate funds for Telos to list on Uniswap with a strong, low-slippage pool of TLOS (ERC-20) and ETH. Remaining funds will support liquidity on other exchanges and pay for listing fees on top centralized exchanges.
By issuing an ERC-20 token and listing on Uniswap and other exchanges, Telos will tap into the vast DeFi and ETH investor communities.
“Telos has been a hotbed of activity since launching in 2018, now welcoming 30,000 new accounts per month and countless developers to its network. We are proud to have accomplished this all as a fully decentralized ecosystem with no outside funding and no whale accounts,” said Douglas Horn, Telos Chief Architect. “Today, we recognize the vast potential that the DeFi and ETH investor ecosystem holds, and realize the need to go where the buyers are as well as support Ethereum users who are drawn to Telos for its fast, feeless transactions and features like Telos EVM or Telos Decide. Our TULIP plan aligns with the Telos philosophy of contributing to the larger blockchain ecosystem.”
Prior to listing on Uniswap, Telos will issue its ERC-20 TLOS token with multiple pre-sale purchasing pools of limited numbers of tokens sold at increasing prices, with a higher initial trading price anticipated once the ETH/TLOS Uniswap pool goes live. This provides an opportunity for both longtime Telos supporters as well as Ethereum investors to get in on the ground level of Telos’ next phase of growth. There will be a 1-3 day period before the bridge opens for Telos users to transfer their existing TLOS to the 1:1 pegged ERC-20 TLOS.
Telos aims to sell 50-80 million TLOS tokens from the ‘tlosrecovery’ account (recovered from 2018 airdrop accounts that remained unused after a year), resulting in a target of $2.5-$5 million in funds raised. Once the TLOS token presale is complete, the majority of ETH proceeds will be used to create a large permanent ETH-TLOS liquidity pool on Uniswap. Tokens provided by Telos will be locked with a smart contract and multisig control to ensure long-term liquidity.
“With sufficient liquidity, real price discovery for TLOS can finally occur, and Telos can become a major player in the booming DeFi ecosystem,” said Horn. “We hope that through this effort, Telos continues to foster a network where all are welcome to realize blockchain technology’s enormous potential.”