ApeSwap x Telos Q&A
Answers to the most important questions about ApeSwap’s newest blockchain
ApeSwap’s partnership with Telos is already driving new users to the world’s fastest EVM chain and introducing them to the numerous advantages that Telos has to offer. If you’re new to Telos on ApeSwap, check out the Q&A we’ve compiled below of the most asked questions to learn more about our newest chain partner.
Q: What is Telos?
A: The Telos EVM is the most powerful and scalable Ethereum Smart Contract platform available today, built to power Web 3.0.
Q: What makes Telos different?
A: Telos features a robust, third-generation, ESG-compliant evolutionary blockchain governance system, including smart contracts, advanced voting features, and flexible and user-friendly fee models. Here are some of the advantages that the Telos chain brings to the table:
Fast & Scalable: Telos’ 0.5 second block time enables the network to process up to 10,000 transactions per second.
Low Gas Fees: Average transaction cost of ~$0.01 USD for token transfers and ~$0.025 USD for token swaps ensures users have consistent, inexpensive access to block space.
Decentralized: Block Producers are located around the world and cannot be owned by the same entity.
First-In, First-Out Transactions: Novel transaction model prevents front-running and democratizes block space access.
Eco-Friendly: The most energy-efficient blockchain, requiring just 0.0004 TWh/year to operate.
Community-Governed: Built-in governance engine ensures that all protocol decisions are made by the community.
Q: What has Telos accomplished so far?
A: Since launch in 2018, Telos has achieved a number of important milestones towards advancing its mission, outlined below.
Q: Who is on the Telos team?
A: Telos currently operates as a team of almost 40 contributors, spanning engineering, development, operations, business development, marketing, community and senior leadership. In addition to these full-time team members, we have many active community members contributing to the protocol on a part-time basis. Many of the team today have been with the project since inception in 2018, and most have been actively involved in crypto for at least five years.
Q: Who has Telos partnered with?
A: Telos has partnered with decentralized exchanges including ApeSwap, centralized exchanges including KuCoin and Gate.io, NFT marketplaces such as Zepatram, blockchain infrastructure partners include Apex, digital marketing companies including Connect Social, and many more:
Q: Why did Telos partner with ApeSwap?
A: Telos recognized an opportunity to bring their innovative blockchain architecture to a user base with a proven appetite for new and exciting projects and partners: the ApeSwap community. Telos also gets to take advantage of the benefits of ApeSwap’s sustainable liquidity mining (SLM) initiative through the sale of Treasury Bills, which create protocol-owned liquidity for Telos.
Q: Why did ApeSwap partner with Telos?
A: The ApeSwap DAO has identified cross-chain expansion as one of our most important opportunities in terms of growing the ApeSwap DeFi Hub, reaching more users, and onboarding new partners. Thanks to a great deal of collaboration between ApeSwap and Telos over the last several months, we’re able to bring a number of new products and features to the ApeSwap DeFi Hub that take advantage of the many differentiators that Telos offers.
Q: How do you get $TLOS?
A: You can buy Telos’ native token, $TLOS, directly with fiat on Telos.net, or swap for it using other crypto tokens on ApeSwap. You can also bridge your tokens from other chains like BNB Chain or Polygon to Telos EVM using Multichain.xyz. A full guide to bridging tokens to Telos is available here.
If you’ve never used the Telos EVM blockchain and need some TLOS gas there are two quick ways to get some in your wallet.
- When you bridge on Multichain.xyz to the Telos EVM blockchain for the first time, you’ll be airdropped some gas to complete your first couple transactions.
- There is also a free faucet for the Telos EVM blockchain. By posting a tweet you can receive $TLOS tokens in a matter of seconds. These funds are enough to perform two swaps.
Q: What opportunities can ApeSwap users expect on Telos?
A: ApeSwap supports the following products on Telos:
- ApeSwap DEX: Deep liquidity across six tokens on Telos (BANANA, ETH, BTC, USDT, USDC, TLOS)
- Telos Farms: Stake LPs to earn TLOS
- Treasury Bills: Vest TLOS at a discount by selling your LPs
Users can add liquidity to the Telos liquidity pools on the ApeSwap DEX and earn the same .05% LP provider fee on each transaction that they do on Polygon.
Q: What is Telos’ marketing strategy?
A: Telos’ general marketing strategy is to increase awareness of the Telos network and its many unique advantages among existing crypto users. Telos’s Fuel Initiative is intended to grow TVL on Telos and create healthy DeFi markets.
Q: Is Telos secure?
A: Telos has never has user funds removed as a result of an exploit, and is careful about selecting bridging partners in order to minimize risk. Telos EVM has had zero downtime since inception, and Telos is evaluating options to integrate zero-knowledge (zk) technology to further increase security.
Q: How is Telos so fast?
A: A Delegated Proof-of-Stake network allows Telos to scale greater and easier when compared to traditional proof-of-work networks. Currently, the network can process over 10,000 transactions per second, and that capacity grows with code updates, side-chains, and other growth mechanisms.
Telos has 21 active validators voted on by Telos token holders entrusted with maintaining the network. Other validators are called “stand-by” validators, and are paid to serve as a back-up to the top 21. This means that the Telos blockchain automatically rotates in standby validators to test their readiness and validator elections take place roughly every two and a half minutes giving Telos a 0.5 second block time — 24x faster than Ethereum.
Q: What makes Telos so energy efficient?
A: Because Telos’s EVM platform runs on C++, one of the most energy-efficient programming languages available, they are able to achieve a very low energy consumption average of 0.0004 TWh per transaction. In March 2022 Telos made a commitment to offsetting the historical carbon emissions of our blockchain through the purchase of carbon offsets, and has also made a DAO level decision to continue supporting these carbon offsets into the future.
Q: How does Telos governance work?
A: All $TLOS token holders have the right to participate in Telos’s governance decisions. All major governance decisions of the chain are put to vote and details can be found here.
Q: What’s next for ApeSwap x Telos?
A: Stay tuned for more partnerships, more trading pairs (sTLOS), and more Treasury Bills available through ApeSwap on Telos. Follow ApeSwap on Twitter for the latest updates or check out our launch calendar at the bottom of our homepage to see what’s coming up next.
Q: Where can I learn more?
Telos Website: https://www.telos.net/
Developers Twitter: https://twitter.com/TelosDevelopers
Community Telegram: https://t.me/HelloTelos
DeFi Community Telegram: https://t.me/TelosDeFiCommunityHub
NFT Community Telegram: https://t.me/TelosNFTCommunityHub
Ignite Grants Program: https://ignite.telos.net/