Normally a user would transfer their exchange EOS to an account they control on EOS network but our goal right now is to receive TLOS on the Telos Network in the least amount of user actions. The ‘tradefortlos’ smart contract on EOS was created for this very reason.
See below example from CoinbaseWhats important is the ‘To’ field and the memo being your account name:
Within seconds, a cross chain exchange will have taken place and the TLOS will arrive in the your TELOS account via simple but highly effective DeFi!
Pretty simple huh? If you happen to have a EOS account just remember you can buy TLOS in seconds by sending EOS to the tradefortlos account via any wallet. Always remember to paste your telos account in the memo though!
This is a public beta and is non custodial. In the background Newdex is used to place market orders, slippage may occur so may not be appropriate for larger orders, lost funds may occur if not following instructions correctly. We recommend testing with absolute smallest amount you can first and checking to ensure its received by searching your account on telos.bloks.io.