Telos is thrilled to announce that our ERC-4626-based sTLOS liquid staking solution is now live on the Telos EVM! sTLOS adds a critical missing piece of the puzzle and is part of a greater initiative (Telos Fuel and Telos Economic Development Plan 3) to reinforce our DeFi ecosystem, help to boost the Total Value Locked (TVL) of our EVM, and attract new developers and users to it.
Previously, staking rewards were a benefit enjoyed exclusively by users that staked their TLOS on Telos Native chain’s Resource Exchange (REX). Apart from voting privileges to participate in Telos Governance decisions, these users receive an APY of 13%*, made possible by inflows from the TLOS reserves with no inflationary impact. This, however, was not a two-way street for tEVM, thus creating an imbalance of incentive for users and developers to interact with our EVM network — until today.
Liquid staking has rapidly emerged as one of DeFi’s best investment opportunities and has caught the attention of many blockchain networks yet to offer this feature. Various staking models, services, and custody levels exist among different networks.
However, unlike conventional staking models, which lock tokens for typically more extended periods (up to 30 days), liquid staking allows users to utilize the issued receipt tokens to increase Yield further while earning attractive staking rewards. As a result, liquid staking serves as the foundation for operations such as liquidity pools, lending, and yield farming. In addition, users may connect with various DeFi platforms to gain diverse incentives while also benefiting from lucrative staking rewards.
The sTLOS ERC-4626 liquid staking solution will offer many of the same benefits as other liquid staking protocols but with a few other key advantages. For starters, the 10-day unstake period for sTLOS will appeal to users as it provides quicker access to their funds than on various other blockchains. Furthermore, we have aligned tEVM staking rewards to match our existing Native staking (REX), offering the same attractive 13% APY*.
Another essential detail of sTLOS is that the service will be operated by the Telos Core Development (TCD) team instead of a third party (commonly found on other networks). The level of trust and transparency is a significant plus for our users and an integral part of the Telos ethos.
The TCD has integrated the latest OpenZeppelin ERC4626 contract proposals next to an ESCROW contract and required changes to the REX staking rewards distribution. Sentnl, one of the most trusted names for blockchain security audits, audited and approved all contracts.
Summary of sTLOS Liquid Staking Options & Benefits
Start Staking on the Telos EVM Now!
During this process leading up to the launch of sTLOS, Telos performed a User Acceptance Test with reputable community members, and we were pleased to receive very positive feedback. After making the final adjustments, we are now ready to debut sTLOS to our tEVM users and let the reward sharing commence! An easy-to-follow guide on how to stake your TLOS on the tEVM can be found through the following link.
*Note the mentioned APY reflects the percentage at the date of publication. The overall yield is related to the combined TVL on Telos native and tEVM and, therefore, subject to fluctuations.
The Telos EVM is the most powerful and scalable Ethereum Smart Contract platform built to power Web 3.0. 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. In addition, Telos supports the blockchain ecosystem by serving as an incubator and accelerator for decentralized applications through development grants. Come build with us.