Telos Layer-1 Chain For Web3 Beginner’s Guide 2022 | How To Buy, T-REX Staking, SQRL Wallet & AMAs

11 min read

Telos ($TLOS), one of the most decentralized blockchain platforms in existence, is undervalued against its total number of ecosystem projects as well as its competitors.

It has weathered the storm during recent volatile crypto market developments and established a new all-time high last month. Telos operates as a layer-1 protocol. It is a sustainable, green, and scalable EOSIO-based blockchain that aims to bring speed and scalability to smart contracts for decentralized finance (DeFi), nonfungible tokens (NFTs), gaming and social media. 100+ of projects have already been built on Telos.

In this 🔥 Beginner’s Guide, we’ll highlight the essentials you need to know about Telos.

TLOS logo light

Key Features: 

  1. What is Telos, the TLOS Coin and Telos EVM (tEVM)?
  2. A Step-By-Step Guide On How To Purchase TLOS Tokens
  3. Does Trust Wallet Support Telos?
  4. How To Stake TLOS
  5. Is Telos Proof-of-Stake (PoS) or Proof-of-Work (PoW)?
  6. Why is Telos Better Than Other Ethereum Virtual Machine (EVM) Chains?
  7. Why is Telos the ESG Blockchain?
  8. What is the Telos’ Project Ecosystem?
  9. Telos’ Roadmap 2022 and Comparison With Layer-1 Rivals
  10. Telos’ Notable Partnerships & dApps

Conclusion

1. What is Telos, the TLOS Coin and Telos EVM (tEVM)?

Telos was officially started some time during July 2018 by a group of EOSIO software enthusiasts, block producers (also known as validators or miners) and developers who had a vision of what they could do with EOSIO. It is being developed by the Telos Foundation, a non-profit organization headquartered in London, UK and building the Telos Blockchain Network. Telos is the first sustainable, self-funding cryptocurrency platform built by a foundation. It is a community owned network and the Telos Foundation is designed to act as a guardian of the Telos Blockchain Network, not a central authority like the Bitcoin Core development team. Telos is committed to egalitarian principles, decentralization and giving power back to the people.

Telos is a layer-1 blockchain network that aims to bring speed and scalability to smart contracts for decentralized finance (DeFi), nonfungible tokens (NFTs), gaming and social media. In telos’ ecosystem are at the time of writing more than 120+ projects and dApps actively built on the Telos EVM (tEVM).

TLOS Coin ($TLOS)

The TLOS token is the native currency of the Telos Blockchain Network. It will work like Utility Tokens. That means that you may spend TLOS to use certain features of the network and you may earn TLOS by contributing to network maintenance and development.

Telos-based tokens are used for DeFi, gaming, NFTs and smart contracts. There are more than 120+ projects actively built on Telos.

Telos (TLOS), a Layer-1 blockchain network created with the EOSIO software that aims to bring speed and scalability to smart contracts for decentralized finance (DeFi), nonfungible tokens (NFTs), gaming and social media. In telos’ ecosystem are at the time of writing more than 120+ projects and dApps actively built on the Telos EVM (tEVM).

Telos can generate blocks for EOSIO C++, Solidity, and Vyper programming languages.

Telos EVM (tEVM)

Telos EVM (tEVM) is an ethereum virtual machine (EVM) running on the Telos blockchain, which makes it easy to bring existing Solidity applications to Telos. This enables developers to adopt Telos blockchain, with it’s advanced features like fair distribution, fast block times and cost-efficient transactions.

2. A Step-By-Step Guide On How To Purchase TLOS Tokens

The following step-by-step guide is particularly for first-time crypto buyers who are entering the crypto market – Source: How To Buy TLOS

It is a lengthy process with multiple steps, which will become more familiar to you with experience.

If you are new to crypto, you may not know the important difference between an exchange and a wallet. KuCoin is an exchange – Telo’s team trusts it fully, however do not leave your funds there indefinitely. The aim of the process described below is to withdraw your TLOS into your digital wallet  where you have full control of your funds (Telos Wallet or Anchor or other cryto wallets could be used as your signer).

If you need help with the telos web wallet check out Telos’ help guide here.

To acquire TLOS you can earn them or buy. In the next segment you can learn how to buy TLOS on the KuCoin exchange, but you can use any exchange listed on CoinMarketCap.

If you are in a time crunch, here is a quick YT Tutorial on “How to buy TLOS on Kucoin in 30 seconds!“.

And, you can view a more detailed video with screenshots and additional tips by Telos UK at //telosuk.io/how-to-buy-telos/

The process to acquire TLOS on KuCoin is as follows:

  1. Go to //telos.net
  2. Click ‘Buy’
  3. Select ‘Kucoin’
  4. You will be redirected to the Kucoin website, specifically to the TLOS/USDT (US Dollar Tether) pair
    • Dollar Tether is pegged to the dollar. 1 USDT is always equal to 1 USD. 

Step 1: Buy USDT

If you have USDT or BTC in your wallet, you can move directly to Step 2: Transfer

  1. Click on the Kucoin logo in the top left corner. This takes you to the Home Page. 
  2. Click ‘Buy Crypto’
  3. Select ‘Credit/Debit Card’ from the drop-down menu
    • You may be requested to answer questions related to KYC, as per regulation
  4. Enter the amount you would like to spend
    Important Note: The minimum TLOS withdrawal amount is 100 TLOS and the KuCoin gas fee is 3 TLOS. You need to make sure you have at least 103 TLOS in your order if you are planning to withdraw the TLOS to a wallet.
  5. In ‘I want to Buy’, select USDT from the drop-down menu
  6. Complete your Banking or Apple Pay details

You now have USDT in your account!

Step 2: Transfer your USDT to your Trading Account

  1. Select ‘Assets’ (in the top right corner on your Desktop, or in the bottom right corner on your mobile)
  2. Select ‘Main Account’
  3. Select ‘Transfer’ from the Operations in the USDT row
  4. A pop-up will open for the Transfer
    • The direction of the transfer should be from you Main Account to your Trading Account
    • The Coin is USDT
    • Enter the amount you would like to transfer
  5. Click ‘Confirm’

Step 3: Buy TLOS

  1. Select ‘Trading Account’
  2. Type ‘TLOS’ in the search bar
  3. Select ‘Trade’ from the Operations in the TLOS row
  4. Select the ‘TLOS/USDT’ trading pair
    • This may take a moment to load
    • If you have BTC, you will select the ‘TLOS/BTC’ trading pair
  5. Click on the current Spot (Average) Price in the Order Book column (this is the number written in a larger font with a list of red numbers above and a list of green numbers below)
  6. You will see a window below with a ‘Buy TLOS’ and a ‘Sell TLOS’ button
  7. You will see the exchange rate you selected auto filled in the USDT row
  8. You can then select ‘100%’ and the TLOS row will autofill as well
    Important Note: The minimum TLOS withdrawal amount is 100 TLOS and the KuCoin gas fee is 3 TLOS. You need to make sure you have at least 103 TLOS in your order if you are planning to withdraw the TLOS to a wallet.
  9. Select ‘Buy TLOS’

You have now placed the order successfully!

TLOS Token Layer-1 Chain

Source: Telos Blockchain

Step 4: Complete the Order

Important Note:  An exchange is dependent on a buyer and a seller that agree on an exchange rate. So, although you selected the Spot (Average) Price of current exchanges, you may not have a seller immediately.

  1. View your order in the ‘Open Orders’ tab
  2. Your order may take some time to be filled. If you need to complete the transaction quicker, you can cancel the open order and set the price slightly higher. 
  3. You can view your TLOS in your Trading Account once your Order has been filled.
    Important Note: Your Trading Account Balance will display in BTC. This does not mean you have BTC in your wallet. It is just the currency in which this account displays.
  4. You may still have a small portion of your USDT left in your Trading Account.

Step 5: Transfer TLOS to your Main Account

  1. In your Trading Account, select ‘Transfer’ from the Operations in the TLOS row
  2. A pop-up will open for the Transfer
    • The direction of the transfer should be from you Trading Account to your Main Account
    • The Coin is TLOS
    • Enter the amount you would like to transfer
  3. Click ‘Confirm’

Step 6: Withdraw your TLOS

  1. Select ‘Main Account’
  2. Select ‘Withdraw’ from the Operations in the TLOS row
  3. A pop-up will open for the Withdrawal
    • Your Wallet address is your 12-digit Telos address. (If you do not have a Telos address yet, follow these simple steps
    • Select Telos from the Network drop-down menu
    • The Memo text is only important when you are sending your tokens to another exchange.
    • In this instance, the Memo and Remark can contain any text.
    • Enter the amount you would like to transfer, or select MAX
  4. Click ‘Confirm’
  5. Click ‘Confirm Withdrawal’

You can view a video with screenshots and additional tips by Telos UK at //telosuk.io/how-to-buy-telos/

=> Bonus Tips on How to Buy Telos

You can use any exchange listed on CoinMarketCap. For this:

  1. Check CoinMarketCap to see where you can buy Telos and with which currencies. For each cryptocurrency, CoinMarketCap provides a list of purchasing options (also known as market pairs).
  2. Pick a platform to make your purchase.
  3. Make the purchase on your chosen platform.

3. Does Trust Wallet Support Telos?

To get started you’ll need to create a Telos account and have TLOS in the account. Instructions for creating and funding a Telos account can be found in the Wallets & Accounts section here. You can skip this step by using a Web3 Wallet such as MetaMask or Trust Wallet etc and depositing your TLOS from an exchange.

4. How To Stake Your TLOS

🔥 Prerequisites

In order to stake, TLOS must be stored on a local wallet, where you control the seed/private keys.
 
Remember, it’s best practice to always withdraw your coins from an Exchange.

🔥 Download and Use a Compatible Wallet

You can use for instance Sqrl.

Sqrl is Telos’ full wallet & governance dApp. Sqrl is the easiest and most powerful desktop wallet, an all-in-one multi purpose wallet for the Telos Blockchain and other EOSIO-based networks.

If you want to take advantage of all the features of Telos, you really want to get Sqrl wallet. With Sqrl you can go from voting to earning REX rewards to signing for a dApp to swapping tokens – all from the same easy to use interface” – Douglas Horn, GoodBlock.io

🔥 Stake your TLOS

The Telos T-REX allows you to participate in the Resource Exchange System, or REX. This feature allows you to lend your idle CPU and NET resources and then you earn interest for being a lender.

For example, here is what you do for the Sqrl wallet.
  1. Open TLOS wallet
  2. Click the Governance tab
  3. Click the Proxies tab
  4. Select a voting proxy
Alternatively, you can manually vote for numerous block producers
  1. Click T-REX tab
  2. Click Deposit TLOS for Lending
  3. Set the amount of TLOS to deposit
  4. Click the Deposit TLOS button

Now you’re staking TLOS and earning a portion of the 685 TLOS created every 30 minutes.

🔥 Use the Power of Your Voice

Telos is one of the most powerful governed blockchains in the world. Powered by Telos Decide™, you can use the power of your votes to help guide the future of Telos. With staking rewards of over 15% annually, you can earn passive income while voting for block producers, participating in worker proposal submissions, or engage in amending clauses of the Telos Network Operating Agreement.

Telos Decide™ extends the chain’s state-of-the-art blockchain and governance features to all dApps on its platform, delivering the best user experience in the marketplace.

Example Screen: Worker Proposals

TelosWorks

Sqrl is the #1 most trusted wallet for the Telos blockchain and comes with powerful governance functionality built-in.

Sqrl Intro / YouTube

Sqrl 1.1

Source: Sqrl Wallet with native support for Know-Your-Customer (KYC) verification and credit/debit card purchases of Telos, Bitcoin and EOS using Carbon’s Fiber API / YouTube

Staking Rewards of 15%+

Stake your TLOS tokens in the Staking Rewards system to earn upwards of 15% annually for years to come.

You can stake TLOS tokens that are liquid or already staked for resources. Tokens staked to REX will receive REX tokens instead of TLOS. There is an initial 4-day maturation period before REX can be redeemed for TLOS again. However, REX tokens will continue to accrue rewards until they are redeemed (un-lent). – Source: 3 Steps to 30% REX Rewards on Telos

Sqrl is among the most trusted wallets for the Telos blockchain and comes with powerful governance functionality built-in.

5. Is Telos Proof-of-Stake (PoS) or Proof-of-Work (PoW)?

Telos is Delegated Proof-of-Stake (DPoS) which allows Telos superior scalability when compared to traditional proof-of-work networks. Currently, the Telos blockchain can process over 10,000 transactions per second (TPS), and that capacity grows with code updates, sidechains, and other growth mechanisms.

Delegated Proof-of-Stake is the future of smart-contract blockchains. We combine the blazing fast execution and scalability of EOSIO software with true decentralization that makes DPoS sustainable. Telos will have the most even money supply distribution of any blockchain. This token distribution improves governance so the network is more secure and sustainable. – Source: Blockchain Expo Global / Douglas Horn

 

6. Why Is Telos Better Than Other Ethereum Virtual Machine (EVM) Chains?

Telos is highly free of conflict of interest due to wide token distribution. This makes it a good candidate for co-operation among large and small cryptocurrency ecosystem actors. Furthermore, centralization increases regulatory risk by a government take down, and the risk of founders abandoning the project. Telos builds innovation on top of a Delegated Proof-of-Stake (DPoS) consensus mechanism. This mechanism is based on source code originally from Block.one‘s EOS blockchain. Block.one is also the originator of EOSIO, the leading open-source blockchain software that provides developers and businesses with the tools to build the infrastructure of tomorrow. Their unique selling points include maturity, decentralization of stakeholders and validators, and a proven on-chain governance model.

Sources: docs.telos.net and Block.one

7. Why Is Telos The ESG Blockchain?

🌎 Environmental – ie conserving the world’s natural resources, ✌️ Socially Responsible – ie acting in a way that benefits society & 🏢 Governance (ESG) investments & business practices are becoming increasingly important criteria when weighing the potential risks of an initiative.

For an intro into ESG investing you may find the following clip interesting:

Intro ESG Investing

And, for the benefits of ESG, watch the following:

Benefits of ESG Investing
Many institutions have been calling for ESG solutions in the cryptocurrency sector but no network has delivered… that is until Telos.

Telos is extremely fast, virtually fee-less and more powerful than major competitors. However, it takes more than that to be #RealWorldReady. Telos is making a conscious effort to become the leading ESG Blockchain, positioning itself for mass adoption by real world users around the world.

So, what does ESG have to do with crypto & blockchain?

One of the biggest growing pains for the blockchain sector has been society’s negative view towards the technology. There are many common misconceptions around the effects that this technology has on the world, and for good reason. With the potential to radically alter how our economies, businesses and relationships operate, there is a level of risk that comes with mass adoption, as with any major technological advancement.

Telos ESG Chain

8. What is The Telos’ Project Ecosystem?

100s of projects have already launched on Telos. Check out their latest projects here.
It’s an impressive range of projects and decentralized applications, from BikeChain, the world’s first self-governing ridesharing mobile dApp to Seeds, a finacial ecosystem that aligns money with value to empower humanity and heal the planet.

9. Telos’ Roadmap 2022+ and Comparison With Layer-1 Rivals

Telos’ latest roadmap 2022 provides their guiding vision for the future of Telos. Their plans for 2022 are nothing short of impressive! They have some groundbreaking projects coming to Telos in 2022+.

Let’s take a look at how Telos’ transactions per second (TPS) beat Polkadot, Avalanche, and Cardano by a huge margin. The interesting thing is that even with a small influx of investors, $TLOS may rise quite rapidly.

10. Telos’ Notable Partnerships & dApps

Recent news about #Telos speak for themselves. New partnerships and dApps spur growth, are designed to expand its ecosystem and create increasing visibility in the DeFi crypto space. All of these projects and strategic collabs are crucial for the long-term growth of $TLOS.

🔥 Telos Joins Bloktopia & Secures Its Place In The Metaverse

Telos Blockchain has become a virtual tenant of Bloktopia to host metaverse events and AMAs.

🔥 DeFi Blockchain Insurance (Uno Re) for Investments & Projects On Telos

🔥 Apish Punks Launched on Telos EVM

Apish Punks, a 10,000 unique truly pixelated ape collection with rarities just launched on the Telos EVM (tEVM).

Telos’ increasing momentum can be attributed to several factors including its recent:

  • Integration with DappRadar, which helps to keep an eye on all dApps on the Telos network.
  • New partnership with the self-governing ride-share application BikeChain, where all tarnsactions will be processed on the super-fast & highly efficient Telos blockchain.
  • Release of OmniDEX, the very first native decentralized exchange (DEX) built on the Telos EVM Layer-1 Chain.
  • Integration with the Greymass Anchor Wallet, which allows TLOS holders to securely log into various applications operating on the network, including the Telos web wallet, Decided Voter and the Staker One platform.

And, these are just a few – there are many more in the works!

Conclusion

Telos is a revolutionary blockchain project with over 4 years of development and testing behind it. It offers solutions that are better than any other blockchain, regardless of their consensus mechanisms. Telos is the future of fast, scalable, green, no-front running Layer-1 EVM blockchains.

Telos EVM layer-1 blockchain has the potential to become the first mass-adopted DPoS blockchain as their team aims to build the bridge between the Telos chain and the world of EOS.

If you are interested in investing in blockchain technology have a closer look as Telos ($TLOS) is one of the most undervalued, underrated layer-1 chains set & ready to disrupt its blockchain rivals. And remember, always DYOR.

Disclaimer: Although the material contained on this website was prepared based on information from public and private sources that TelosHunter.com believes to be reliable, no representation, warranty or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and TelosHunter.com expressly disclaims any liability for the accuracy and completeness of the information contained on this website. TelosHunter.com is not recommending or advising readers to buy or sell any cryptocurrency. All data and information on TelosHunter.com are provided for informational purposes only and are not intended for investment or any other purposes.
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