Telos Foundation And Binance To Launch Telos X Crypto Trading Platform
In Brief
Telos Foundation announced plans to launch the Telos X cryptocurrency exchange in collaboration with the Binance Link Program.
Organization that supports the development of the Telos blockchain, Telos Foundation announced the launch of the Telos X cryptocurrency exchange in collaboration with the Binance Link Program. Telos X aims to strengthen the Telos network ecosystem by offering easier access to liquidity, enhancing token utility, and creating new opportunities for projects and users within the network. The exchange is on track to go live in Q1 2025.
Telos X offers major advantages to the community, including a token utility model focused on ensuring ecosystem sustainability, boosting utility, reaching new regions where the community has a limited presence, and enhancing developer engagement.
Moreover, it aims to address critical challenges faced by smaller tokens in the cryptocurrency landscape, such as high listing fees and cumbersome application processes. It will simplify the listing process for tokens within the Telos ecosystem, ensuring they have the necessary liquidity and receive support for launching their tokens via the Telos X launchpad.
Among its key features, Telos X offers streamlined token listings, allowing applications and partners within the Telos ecosystem to easily list their tokens on the platform. This simplifies the process for emerging projects to gain visibility and access liquidity.
Additionally, the TLOS token will serve as the primary pairing option on Telos X, providing support for projects that may lack access to USDC or BTC for sufficient liquidity. In certain cases, TLOS can be allocated to meet liquidity needs, further enhancing its utility in the ecosystem.
Telos X will also introduce rewards and benefits for users and community members, which may vary by region based on compliance and regulatory considerations. These benefits could include reduced fees, Launchpad airdrops, and incentivized participation through programs like a buy-and-burn initiative for TLOS token.
What Is Telos?
Telos is a next-generation Delegated Proof of Stake (DPOS) Layer 1 blockchain network. It offers compatibility for developers, along with a comprehensive suite of tools and onboarding support for creating and deploying smart contracts on the highly scalable and cost-effective Telos Ethereum Virtual Machine (EVM). The network is supported by strong governance features and a dynamic community of enthusiastic contributors and users who are optimistic about the future of Web3.
Recently, it secured a strategic investment of $1 million from Presto Labs, which will be allocated to developing a new Ethereum Layer 2 zkEVM network powered by SNARKtor and to promote the growth of SNARKtor Labs. This business unit, located in Hong Kong, focuses on advancing Telos’ zero-knowledge proof technology infrastructure.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
