Telos Foundation made a major announcement at the premier crypto event Token2049 as it unveiled Telos X, a cutting-edge cryptocurrency exchange, and announced it is joining the Binance Link Program.
As crypto adoption continues to grow and reach the mainstream, we need a crypto trading platform that makes it easy and smooth for the general non-crypto audience to access all the varied opportunities of the digital asset space.
Amidst the increased demand for crypto across the world, especially among young investors, the global cryptocurrency exchange market size is expected to grow from $32.77 billion in 2021 to $347.50 billion by 2030.
To cater to this growing interest in crypto and capture the massive projected growth in digital asset trading platforms, Telos Foundation has launched its very own crypto exchange, which is believed to be well-positioned to become a major player in the global cryptocurrency exchange ecosystem.
“We are very excited to continue growing and expanding the Telos ecosystem, transforming it into a preeminent Web3 venture production studio with a suite of products in service of the Telos community, and to that end, we believe Telos X, by joining the Binance Link Program, is adding a new dimension of utility for our community with a particular focus on expanding our global reach,” said Telos Foundation executive director, John Lilic.
Telos X will also act as a key component within the Telos Network, which currently powers hundreds of unique dApps, including NewLife, Zeptagram, Seeds, Wordproof, Appics, Qubicles, Qudo, and Taikai.
Boosting Token Utility & Transforming the Global Crypto Landscape
Telos is a decentralized network that has been working on unlocking the capabilities of true scalability and utility for the past few years. It was launched in 2018 without any ICO or VC funding. In late 2021, with the launch of Telos EVM, Telos transitioned into a true Layer 0 network, enabling the creation of new blockchains that utilize Telos Zero Consensus.
Its native utility token, TLOS, is a $98.58 mln market cap coin that is used for governance, making transactions, and earning rewards through staking.
Now, with the launch of Telos X, the idea is to further strengthen the Telos ecosystem by enhancing token utility and offering streamlined access to liquidity. The official announcement, part of the ‘Revealing Telos’ Next Growth Leap campaign, also highlighted novel opportunities for projects and users across the network.
With its exchange, Telos specifically aims to address the listing hurdles faced by small-cap tokens in terms of high fees and inefficient processes. The exchange will make the entire listing process more efficient for them while providing the required liquidity as well as provide launch support via the Telos X launchpad.
In addition to providing the applications built on Telos and partners within its ecosystem with a direct pathway to list their tokens on Telos X, Telos X will utilize TLOS tokens as the primary pairing option. This way, the exchange will support projects that don’t have access to BTC or stablecoins to create sufficient liquidity. For certain circumstances, the platform may even grant TLOS tokens to help projects meet their liquidity requirements, which will further enhance the native token’s utility within the ecosystem.
Now, Telos X will introduce rewards and benefits such as discounted fees and Launchpad airdrops to incentivize users and community members. There will also be a buy-and-burn TLOS program to support the token’s value and boost investor confidence.
So, equipped with an aggressive growth strategy, Telos X will make its global launch in the first quarter of next year across multiple regions.
Currently, Telos X is focused on platform development and building a talented team of professionals to make the crypto exchange a reality, which will mark a significant milestone for the Telos ecosystem by enhancing token utility and creating new opportunities for projects and users alike.
