The Most Powerful and Fastest Blockchain Has A Token - (TLOS)
What is Tokenomics?
We won’t be able to find the word "tokenomics" in the English dictionary, it is a widely used and understood term in the cryptoverse. Simply put, it refers to the supply and demand characteristics of a cryptocurrency (or token).
With well over 6000 different cryptocurrencies available on the open market, understanding tokenomics can help identify the potential value of a token. Any project that doesn’t openly talk about its tokenomics, or consistently fiddles them should be treated cautiously.
Though it is possible for crypto-assets to alter their tokenomics, if it is a truly decentralized system (such as Bitcoin, or Telos), it will require the majority of token holders to agree to implement any change.
Why is it important to know these things in a cryptocurrency?
In short, supply and demand are the name of the game with tokenomics. As with all assets, the slimmer the supply, and the greater the demand, the higher the value.
This is why it is important to understand what the total supply of any crypto is, as well as how much of that supply is currently circulating. It is also essential to know how many tokens will exist in the future and whether there is a plan to create more (i.e. is the token inflationary or deflationary?).
Strong tokenomics combined with a strong fundamental use case for a crypto-asset are two good indicators of intrinsic value.
TLOS is the native utility token of the Telos blockchain
There would be another TLOS Token anytime soon and it will be an ERC20 Token that will be listed on Uniswap. Some other well-known blockchain utility tokens include ETH of the Ethereum blockchain and DOT of the Polkadot blockchain. Essentially, TLOS is the lifeblood of the Telos blockchain, powering every transaction, dApps, staking, and more.
TLOS holders, excluding exchanges, can also take part in blockchain governance, powered by Telos Decide™– a governance engine for transparent, immutable, deterministic and user-friendly governance for any case.
Currently, there are over 600,000 TLOS accounts holding Telos on the blockchain, with this number increasing every day.
All TLOS in existence were generated at genesis in 2018, and the maximum supply of TLOS is a mere 355 million.
This means there are far less tokens available (supply) when compared to other blockchains such as EOS (which has an unlimited supply), ADA (which has a max supply of 45 billion), and TRON (with a max supply of over 100 billion). The current rate of inflation is 0%, which could rise to 1% in the future to account for payments to node validators (block producers).
The current circulating supply of Telos tokens is 169 million. The day-to-day operational costs of the network are met through the reserve fund.
There are a number of accounts receiving daily funding for contributing to the growth or operation of the blockchain. These are:
- The Telos Foundation
- The top 21 block producers (node validators)
- The top 21 standby block producers (node validators)
- Core developers
- Telos Works
- REX (Resource exchange that rewards TLOS staking)
- Econddev fund
For a more in-depth dive into the current economic model, please read our medium post : Telos Economic Development Plan 2.0
As the Telos price evolves, the team at Telos are consistently looking to refine the tokenomic model. We are currently in the process of drafting the Telos Economic Development Plan 3 (TEDP3). Once complete it will be introduced and voted on by the Telos token holders.
Let's check how The Telos Blockchain in terms of the Token's marketCap is shown compared to the most popular Utility tokens today.
Understanding the TLOS Tokenomics is significant because we will all be able to see the Price Discovery after the Uniswap listing has been launched. The Bounce.Finance sale has been a great success and the tokensale raised more that 500 ETH in three days, surpassing the Soft-Cap of 50 ETH in less than 3 hours. (An exact 511 ETH was raised during the Tokensale). Here is a word from the Telos Foundation CEO.
First - markets - community - distribution of the stake: Telos never had any ICO or any sort of fundraising- this means automatically lack of liquidity in exchanges and not ability to list in tier 1 excanhges. Lack of liquidity does not also attract any sort of trader as some thousands USD buy pump the price 100%.
We are raising funds for listings and liquidity and creating a trader/ investor community at the same time. On its core Telos is a tech community - we simply didn't and do not have crypto traders until now. This event is also called distribution of the stake. There simply has not been way to accumulate telos in large amounts unless you have been either working for the chain or patiently set limit orders and waited for those who need to sell, sell. Like said , telos has been trading on illiquid markets; that also means the REAL PRICE DISCOVERY has never happened. These amounts that are traded in probit or whatever no name place do not represent real markets, it is $POCKETMONEY. Not even on your best intentions you can call some 50k daily volume trading - and we have been much below. Like 400 USD.
I can confidently say that with uniswap listing we actually see first time how the markets value $TLOS. Until now there has not been genuine markets. If someone thinks that $TLOS pumped already - it is to some extend true - but not the whole picture. Of course you 5x the token price if order book is thin. And if you look at the current markets - they are still thin. The big question is - what is the fair value of the token with this track record? The markets will decide that. Telos native and ERC20 tokes are 1:1, no matter where you buy them from. by buying native you opt in to wait a bit longer before jumping into erc20 trading, but ultimately, you will get the same value Second - strategic initiative to tie Telos into larger crypto economy - distribution of the stake Like I said above - Telos has risen from a tech community. Tech is great but if no one uses that it's value is pretty much low. Telos does have utility (600k user accounts and more) - a lot but the bigger market is outside of this bubble - where we are going now. By issuing ERC20 we will get access to dozens of other 3rd party services which makes telos ecosystem even bigger. Telos says it is an open ecosystem - so it is better that we act accordingly. By Issuing erc20 tokens Telos becomes much more available for the larger decentralized movement.
I strongly believe that this is a great start of the major success that the TLOS Token will be experiencing soon and not only the dApps engaged in the Telos Network who will benefit here but the community members ourselves.
Leaving you everyone with a though if it's worth staking or holding the tokens that we have right now?
Latest Social Media Triumphs:
Telos Network Official Facebook Group Page just hits 1,000 members: https://web.facebook.com/groups/telosnetwork
1,400++ Likes on @Coingecko: https://www.coingecko.com/en/coins/telos
4,000 Members on Telegram
I am Fycee, an APPICS dApp Senior Ambassador and one of the Telos Marketing Team, posting this announcement from the website. Not sharing a financial advice but let's always Do Your Own Research (DYOR)
Thank you for reading
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About me, the author
•Currently One of the Marketing Team of The Telos Network and just recently joined the Website Content Development Team.
•Currently a very active Senior Ambassador in APPICS who placed within the Top 10 in the past 5 months in a row landing the 2nd Top Spot last November 2020.
•One of the Pioneer Content creator here in Publish0x