In 2022, the Telos Core Developers (TCD) had our most productive year yet and showed tremendous resolve to deliver on the defined Roadmap set out by our team. We have made considerable progress on many fronts while maintaining the financial wherewithal to continue unveiling ground-breaking innovations — despite weak market conditions.
Diligent monitoring of funds and timely adjustments on expenditures has enabled the TCD to minimize the market impact on core spending. As a result, our December projections indicate a runway of approximately 14–15 months, based on our stable coin reserves, without a single $TLOS of our treasuries being sold.
As part of our strategy, all directly assigned TCD resources receive a split of USDT/C to cover the cost of living and $TLOS designated to increase long-term retention to Telos and support protecting our market price at paydays.
The TCD Steering Committee also made the proactive decision to streamline a portion of resources assigned to external partners and rely more heavily on our 13-member core team. Additionally, we have postponed the onboarding of a dedicated Documentation role and replacement for a Product Manager. Instead, we have formed an in-house workgroup consisting of Telos Foundation and TCD members to focus on further product development and productization, thus eliminating the need for additional expenses.
We continue to follow our defined target to support DeFi and TVL on Telos Native and tEVM with various initiatives. The very close communication with the Telos Foundation Business Development, Liquidity & Exchange team and valued community members is a crucial component to align continuously and actual market requirements.
Our participation in the AntelopeIO coalition and the developments jointly funded by EOS, Telos, WAX, and UX has been a boon for our network. We greatly appreciate the effort of all chains and thank the EOS Network foundation precisely for its outstanding financial and resource contribution as a critical contributor to the coalition. The partnership and friendship between all coalition chains, amid our competitive positions, is a milestone for all of us and combines the brilliant minds of our industry with a focus on one core code.
Did you miss our recent updates? Here is a summary of 2022 achievements and projects:
Telos Native upgrade to Leap 3.1 — Mainnet part 1 was performed successfully in November; the remaining updates of the system contracts are in testing. Leap 3.1 has been the first significant upgrade to our core code since B1 decided to stop any further development and is, therefore, a milestone for all coalition chains. Detailed information about the release is available here: https://github.com/eosnetworkfoundation/mandel-contracts/releases
Furthermore, the AntelopeIO coalition is making tremendous progress with various items on the Roadmap, including:
EVM 1.5 — The deployment and testing for the latest version of the RPC nodes are still ongoing since we investigated RAM issues during extensive stress testing. We are happy to see further speed improvements and stability over EVM 1.0 and simplified deployment and operation of the nodes once EVM 1.5 goes live. Our brand new Teloscan Indexer is closely linked to the release of this version. Available features will include:
EVM 2.0 continues to be one of our highest resource assignments. We are proceeding well and working through the Roadmap as expected, reaching milestones 5 and 6 in December.
The launch of sTLOS liquid staking for tEVM in September was an important milestone for our team. A whopping 19 Million $TLOS TVL has been locked so far, and sTLOS has become one of the most used EVM tokens with Liquidity Pools and Farms. Lending and Borrowing will complete the degen cycle very soon.
The implementation of the Telos Safe application, a well-recognized vault infrastructure, further supports the requirements of our user base. Additionally, we have teamed up with parts of the original Gnosis Safe team to provide this product.
Open Block Explorer and Teloscan — our native and tEVM block explorers receive constant feature updates and improvements, including contract verification/read/write and transaction detail pages, native multi-signature improvements, and wallet features. While we are slowing down some parts of development in favor of Telos Station, both explorers incorporate significant cost savings compared to available standard apps.
The first concepts of “Telos Station,” our fully revised user experience project for Native and tEVM, are in an advanced stage. We have started to rework our web wallet (wallet.telos.net) as it will be the starting point for the new user experience. As a side-effect, we have re-assessed our current dAPP landscape. We will streamline all of them to remove redundancies, harmonize user experience and simplify interaction with TLOS on all facets.
To conclude our report, our much-anticipated TPS benchmark will be shared soon after the deployment of EVM 1.5 and AntelopeIO Leap 3.1. In doing so, we ensure that our results accurately match the present state of development. On a related note, it’s very uplifting to see our excitement to reveal these results echo that of our community — stay tuned!
We want to thank all Telos Core Development resources for their continuous support and dedication to making Telos the world’s best chain. Special thanks to our development partners at y-knot (BP), Detroit Ledger Technology (BP), nodenode (BP), Telos Global (BP), and MegaDev.
There is much to be excited about, and we are confident that our superior core technology and market-leading EVM will lead us triumphantly through this crypto winter.
We wish you all the best and a bullish 2023 and hope to see you as active members of the Telos community. For those of you celebrating: Merry Christmas and a happy new year!
Kersten Wirth, Program Manager on behalf of Telos Core Development
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. Build with us.