Telos

<p>As we close out the month,  let’s review the key developments and progress made in May!  This month  has been notable for significant funding achievements, new integrations,  partnerships, and technical advancements.</p><p>From securing a substantial <a href="https://x.com/HelloTelos/status/1788277943103369387" rel="noopener noreferrer nofollow">$1 million investment from Presto Labs</a> for our SNARKtor-powered Eth L2 zkEVM network to integrating with platforms like <a href="https://x.com/HelloTelos/status/1787892678987743281" rel="noopener noreferrer nofollow">Steer Protocol</a> and <a href="https://x.com/HelloTelos/status/1788890704149667887" rel="noopener noreferrer nofollow">Alchemy Pay</a>,  May has been a month of strategic milestones.  Additionally, we&#39;ve  strengthened our security measures through our partnership with Bail  Security and enhanced our platform&#39;s functionality with updates to  Teloscan and RPC 2.0. Let&#39;s delve into the highlights of May and outline  what lies ahead.</p><h2 id="header-0">Major Announcements:</h2><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/ce32690b4ccc49648e08ec4abc5faaf0.jpeg" /></p><h3 id="strong-telos-secures-1m-in-funding-from-presto-labs-to-develop-snarktor-powered-l2-and-snarktor-labs-strong"><strong>Telos Secures $1M in Funding From Presto Labs to Develop SNARKtor-Powered L2 and SNARKtor Labs.</strong></h3><p>Telos  has secured a $1 million USD investment from Presto Labs, an Asia-based  venture capital firm and liquidity provider known for its success in  algorithmic trading. The funds will be used to develop the new  SNARKtor-powered Ethereum Layer 2 zkEVM network. Additionally, it will  support the growth of SNARKtor Labs, Telos&#39; Hong Kong-based business  unit dedicated to advancing Telos&#39; ZK-proving technology infrastructure.</p><p><a href="https://chainwire.org/2024/05/08/telos-secures-1m-in-funding-from-presto-labs-to-develop-snarktor-powered-l2-and-snarktor-labs/" rel="noopener noreferrer nofollow">Read More </a></p><h2 id="header-1">New Integrations:</h2><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/f9b569e7aa5440888d5eeb2ca3ea753e.jpeg" /></p><h3 id="steer-protocol">Steer Protocol</h3><p>Telos  is proud to announce its strategic integration with Steer Protocol,  providing holistic infrastructure to facilitate robust on-chain  automation development, distribution, and launch. Steer’s flagship  product, Smart Pools built on top of Steer infrastructure, powers  automated liquidity management for 1250&#43; concentrated liquidity pools  across 26&#43; blockchains and 25&#43; AMMs.</p><p><a href="https://www.telos.net/post/steer-on-chain-automation-liquidity-management-telos" rel="noopener noreferrer nofollow">Read More</a></p><p>‍</p><h3 id="alchemy-pay">Alchemy Pay</h3><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/1e48ce2cdf874d9fb880042678385dc3.jpeg" /></p><p>Alchemy  Pay has integrated $TLOS into their On-Ramp solution, further  simplifying the process of acquiring $TLOS for users. Alchemy Pay&#39;s acts  as a payment gateway, connecting crypto with traditional fiat  currencies. Their Ramp feature enables easy buying and selling of  crypto, allowing you to make purchases with your credit card, local  mobile wallet and even bank transfers.</p><p><a href="https://www.telos.net/post/alchemy-pay-integrates-telos-on-on-ramp-for-direct-tlos-purchase" rel="noopener noreferrer nofollow">Read more</a></p><p><a href="https://telos.net/buy" rel="noopener noreferrer nofollow">Purchase $TLOS here</a></p><h3 id="houdini-swap">Houdini Swap</h3><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/3a535f5cbc1e40b2a14f591a3e662816.jpeg" /></p><p>The  Telos x Houdini Swap integration allows you to swap, send, or bridge  $TLOS privately. Their innovative privacy protocol breaks the link  between sender and receiver in a safe, compliant, and cost-effective  manner.</p><p><a href="https://www.telos.net/post/telos-integrates-with-houdini-swap" rel="noopener noreferrer nofollow">Read More</a></p><h2 id="header-2">Partnerships</h2><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/18dc4418176f42379292e7121a1ac37d.png" /></p><h3 id="bit-rivals">Bit Rivals</h3><p>We’ve  partnered with Bit Rivals, an innovative gaming platform that empowers  players to earn rewards while playing their favorite Web2 &#43; Web 3  titles. Having already launched integrations with Steam, Xbox,  PlayStation, and Origins, Bit Rivals supports AAA titles such as Apex  Legends, Valorant, Fortnite, Rocket League, and Dota 2, to name a few,  along with fan favorites like Bioshock, Rust, Among Us and many more.</p><p><a href="https://www.telos.net/post/telos-and-bit-rival" rel="noopener noreferrer nofollow">Learn more</a></p><p>‍</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/29c134a6ade64180b2b5fe332c8338db.png" /></p><h3 id="portal-finance">Portal Finance</h3><p>We’ve  teamed up with Portal Finance. Portal DeFi allows users to swap  instantly across various blockchains without needing a middleman, thanks  to its TLC-based atomic swaps. It also uses an innovative Automated  Dynamic Market Maker (ADMM) to ensure seamless trading. This makes  Portal DeFi more than just a DEX; it’s designed to provide smooth and  secure cross-chain trading.</p><p><a href="https://x.com/HelloTelos/status/1787820781436596370" rel="noopener noreferrer nofollow">Thread</a></p><p><a href="https://medium.com/&#64;Portal_team/telos-integrates-portal-defi-to-expand-cross-chain-trading-opportunities-1fd464339527" rel="noopener noreferrer nofollow">Article</a></p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/75c8b899f9d94064aca5aab982203d5c.png" /></p><h3 id="bail-security">Bail Security</h3><p>Ensuring  the security of our ecosystem is paramount at Telos. That&#39;s why we&#39;ve  partnered with Bail Security, whose senior auditors specialize in  thorough smart contract inspections. Together, we&#39;re enhancing security  and enabling safer deployments. Bail Security recently completed a  detailed audit of TelosOFTV1.2, and our new audit report is now  available.</p><p><a href="https://github.com/bailsec/BailSec/blob/main/Bailsec%20-%20Telos%20OFTV1.2%20-%20Update%20%28differential%29%20%28%2BResolution%29%20Final%20Report%20Github.pdf" rel="noopener noreferrer nofollow">Audit</a></p><p>‍</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/fcf47901e68948c38922599b7213bcd9.png" /></p><h3 id="well3">Well3</h3><p>We’ve  partnered with Well3, a company bringing essential wellness technology  to the blockchain space. Well3 focuses on health data management using  advanced wearables and digital identities to provide secure, real-time  health updates.</p><p><a href="https://x.com/HelloTelos/status/1791551700001788217" rel="noopener noreferrer nofollow">Read more </a></p><p>‍</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/6a12c30f3dab4ed19b9504117f09d408.png" /></p><h3 id="ormi">Ormi</h3><p>We&#39;ve  partnered with Ormi to bring high-performance data handling to the  blockchain space. Ormi offers subgraph hosting with ultra-low latency,  capable of processing over 1,000 queries per second.</p><ul><li>Real-Time Data: Provides real-time, re-org aware crypto data.</li><li>Quick Indexing: New blocks are indexed within seconds.</li><li>Seamless Integration: Allows for building apps without limits.</li><li>Reliable Performance: No lag and no downtime.</li></ul><p><a href="https://x.com/HelloTelos/status/1791517746490114220" rel="noopener noreferrer nofollow">Read more </a></p><h3 id="developer-updates">Developer Updates:</h3><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/3892da4316334e019202fa08ee2be100.png" /></p><h2 id="header-3">Developer Updates:</h2><h3 id="achievements">Achievements:</h3><ul><li>1.5 audit fixes signed off by auditors: Finalized and received sign-off on all audit fixes for version 1.5.</li><li>zkEVM POC progress</li><li>Performed data migration for EU and US mainnet indexers.</li><li>Recovered systems following overnight power outage.</li><li>Setup S3 buckets for Tekika.</li><li>Telos native OFT contracts &amp; proxy implementation audited, with resolutions signed off.</li><li>2.0 progress – Applied native state diffs and applied gas price revision changes to the reth.</li></ul><h3 id="evm-1-5-updates">EVM 1.5 Updates</h3><ul><li>OFT Contracts Deployment and Auditing:</li><li>Completed deployment and auditing of OFT contracts, including proxy contracts. Audit fixes signed off by auditors.</li></ul><h3 id="zkevm-proof-of-concept-progress">zkEVM Proof of Concept Progress:</h3><ul><li>Continued progress on zkEVM proof of concept ready for presentation at EthCC in July.</li></ul><h3 id="rpc-2-0-progress">RPC 2.0 Progress:</h3><ul><li>Advanced development on RPC 2.0, applying native state diffs and gas price revision changes to reth.</li><li>Added support for multiple opcodes.</li><li>Applied native state diffs and gas price revision changes to the revm.</li><li>POC end to end testing complete (without verification).</li></ul><h3 id="teloscan-updates">Teloscan Updates</h3><ul><li><strong>API Integration and Refactoring: </strong>Integrated Indexer API in key components, enhancing performance and maintenance.</li><li><strong>Enhanced UI/UX: </strong>Upgraded design and usability of all pages for a more intuitive user experience.</li><li><strong>Improved Contract and Transaction Handling:</strong> Enhanced handling of NFT metadata and transaction page transfers,  including features like partial loading and highlighting native  withdrawals &amp; deposits.</li><li><strong>Responsiveness and Accessibility:</strong> Optimized various pages for responsiveness across devices, ensuring better accessibility.</li><li><strong>Functionality Enhancements:</strong> Added new features such as token list sorting, ERC1155 transfer handling, and improved contract interaction.</li></ul><h3 id="nft-image-scraper-improvements">NFT Image Scraper Improvements:</h3><ul><li>Implemented improvements to the NFT image scraper.</li></ul><h3 id="translator-rpc-updates">Translator/RPC Updates</h3><ul><li><strong>Chainlink Node Deployment on Testnet: </strong>Established Chainlink node on testnet to expand integration capabilities with external data sources.</li><li><strong>RPC 2.0 Development:</strong> Made significant advancements in the development of RPC 2.0, aimed at enhancing system interaction and reliability.</li></ul><h3 id="teloscan-wallet-and-bridge">Teloscan, Wallet and Bridge</h3><ul><li>Further enhancements and feature delivery.</li><li>Preparation for cross chain support</li></ul><h3 id="current-priorities">Current Priorities</h3><ul><li><strong>Service Migration: </strong>Continued migration of DNS, redirects, and load balancers from AWS to Cloudflare to enhance scalability and reliability.</li><li><strong>Chainlink Node Deployment:</strong> Deployment of all services and infrastructure for Telos Mainnet following the testnet deployment.</li><li><strong>Backend Performance Optimization:</strong> Ongoing efforts to optimize backend performance for Teloscan, ensuring efficient API and data handling processes.</li></ul><h2 id="header-4">Events</h2><p>‍</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/4fab5d532bb84525bbe062ee3bebde9b.png" /></p><h3 id="a-href-https-www-dappcon-io-rel-noopener-noreferrer-nofollow-dappcon-2024-a"><a href="https://www.dappcon.io/" rel="noopener noreferrer nofollow">DAPPCON 2024</a></h3><p>Our  Head of Business Development, Nicky Chalabi, attended DappCon, a  three-day developer-focused conference in Berlin. The event centered on  exploring strategies to attract the next wave of users and brought  together over 900 industry builders.</p><p>‍</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/9791375adf734c539a9bc7bafd0b0a5f.png" /></p><h3 id="a-href-https-blocksplit-net-rel-noopener-noreferrer-nofollow-blocksplit-2024-a"><a href="https://blocksplit.net/" rel="noopener noreferrer nofollow">BlockSplit 2024</a></h3><p>John  Lilic took the main stage at BlockSplit in Croatia, sharing his  insights on Telos and our work in zero-knowledge technology. BlockSplit  is an international conference bringing together Web3 startups,  developers, researchers, investors, designers, and more from around the  world.</p><p><a href="https://www.youtube.com/watch?v&#61;Jf8IkDMRywE&amp;t&#61;2299s" rel="noopener noreferrer nofollow">Live Stream </a></p><h2 id="header-5">Community Updates</h2><h3 id="telos-token-sustainability-and-deflationary-plan">Telos Token Sustainability and Deflationary Plan</h3><p>The  Telos community has successfully passed the &#39;Telos Token Sustainability  and Deflationary Plan!&#39; This plan aims to reduce token outflows and  immediately start to cut inflation significantly.</p><p><a href="https://x.com/The_JUDii/status/1788588287440961984" rel="noopener noreferrer nofollow">Learn more about the proposal below</a></p><h3 id="introducing-telos-usdm-incentives">Introducing Telos $USDM Incentives</h3><p>The Telos Foundation is partnering with <a href="https://www.meridianfinance.net/" rel="noopener noreferrer nofollow">Meridian Finance</a> to introduce stable liquidity incentives for Telos EVM by minting  $USDM. This stablecoin will be used to reward participants on selected  platforms and protocols, offering stable and predictable yields. By  distributing $USDM, Telos aims to attract a broader DeFi audience and  provide consistent returns for investors and liquidity providers. This  initiative will also maintain system stability by allowing $USDM to be  redeemed for TLOS.</p><p><a href="https://www.telos.net/post/introducing-telos-usdm-incentives" rel="noopener noreferrer nofollow">Learn more </a></p><h2 id="header-6">Noteable Partner &amp; Community Shout Outs :</h2><ul><li><a href="https://x.com/criptolawyer" rel="noopener noreferrer nofollow">&#64;criptolawyer </a>speaks with our partners at Fitchen, one of the largest spanish-speaking guilds: <a href="https://x.com/HelloTelosESP/status/1789842527748559154" rel="noopener noreferrer nofollow">X Space here</a>.</li><li>&#64;DIACommunityHub does a deep dive on the Telos Ecosystem: <a href="https://x.com/DIACommunityHub/status/1788169255067992116" rel="noopener noreferrer nofollow">Dia Ecosystem Deep Dive</a></li><li><a href="https://x.com/Cryp2heat" rel="noopener noreferrer nofollow">&#64;Cryp2heat</a> does an insightful breakdown on the Telos Token Sustainability and Deflationary plan: <a href="https://x.com/Cryp2heat/status/1791666146006987212" rel="noopener noreferrer nofollow">Breakdown.</a> And once it was accepted, followed up with <a href="https://x.com/Cryp2heat/status/1793024305984414034" rel="noopener noreferrer nofollow">works of art.</a>‍</li><li><a href="https://x.com/AjinkyaWeb3" rel="noopener noreferrer nofollow">&#64;AjinkyaWeb3</a> led the charge for our Telos community meet up in Pune India, celebrating <a href="https://x.com/AjinkyaWeb3/status/1793352336171262311" rel="noopener noreferrer nofollow">BTC Pizza day.</a></li><li><a href="https://x.com/MosaicBP" rel="noopener noreferrer nofollow">&#64;MosaicBP</a> releases their first video in their “Exploring Telos DeFi series” - <a href="https://x.com/MosaicBP/status/1792537461169553579" rel="noopener noreferrer nofollow">Understanding Concentrated Liquidity &amp; adding Liquidity to Swapsicle. </a></li><li><a href="https://x.com/TelosKiwi" rel="noopener noreferrer nofollow">&#64;TelosKiwi</a> releases a quick and easy tutorial on how to use HoudiniSwap. <a href="https://x.com/TelosKiwi/status/1795290611647762736" rel="noopener noreferrer nofollow">Tutorial. </a></li><li>&#64;DeFiBryan interviews our partners at Conkis: <a href="https://x.com/DefiBryan/status/1793318493288550731" rel="noopener noreferrer nofollow">Full Interview.</a></li></ul><h2 id="header-7">Looking Forward</h2><p>In the upcoming month of June, anticipate the following developments:</p><ul><li>Rollout of numerous exciting integrations</li><li>Implementation of new product updates</li><li>Our team’s attendance at ETH Belgrade</li><li>Preparation by our team for ETH CC</li><li>And a plethora of additional initiatives to come!</li></ul><h2 id="header-8">Conclusion</h2><p>As  we wrap up May, it&#39;s clear that this month has brought key developments  and advancements for Telos. We&#39;ve seen important funding, strategic  integrations, and technical progress that have strengthened our  ecosystem.</p><p>Looking forward to June, we anticipate the rollout of  new integrations, the implementation of product updates, and active  participation in major crypto events like ETH Belgrade. Stay tuned for  more exciting developments and initiatives in the coming month.</p>

Telos Network May Recap: Integrations, Product Updates, Events and Community

Table of Contents

Telos

Other articles published on Jun 9, 2024

Users Ditch Dogeverse and Dogwifhat amid MoonBag’s Predicted Rise to $0.25 by Nov As Top Crypto P...

MoonBag Rockets Ahead of Internet Computer and Pepe Coin, Soaring as the Top Crypto Presale in 2024

Top Crypto Picks: Rollblock (RBLK) Predicted To Outshine Binance Coin (BNB) and Filecoin (FIL) in...

Here’s the Amount of Terra Classic (LUNC) Binance Burned This Month

Friend.tech to Migrate From Base to its Blockchain Friendchain

MoonBag Coin Tackles Near Protocol And ChainGPT With An Impressive APY Of 88% Upon Staking

Join our free newsletter for daily crypto updates!