Assets must satisfy one of the following requirements to be considered for addition to the TELx ecosystem:
The native token of any protocol that supplements the Telcoin Platform.
Asset-backed stablecoins with reserves in local bank accounts and domestic payment rails.
Compliant digital assets with strong consumer demand and institutional acceptance.
TELx Launch Assets
TEL: TEL is the native utility token of the Telcoin Platform and is used to coordinate and incentivize user-owned products as well as bridge between stablecoins on the SMS Network and TELxCHANGE assets.
ETH: Telcoin is built on Ethereum and ETH is the native token of the network.
MATIC: Telcoin is launching V3 of our mobile application on Polygon. MATIC is required for users to pay network fees, so having TEL/MATIC markets is crucial to the successful operation of the Telcoin Platform.
QUICK: The native governance token of Quickswap, a Polygon-native decentralized exchange (DEX) on which Telcoin is launching products. QUICK/TEL markets will enable active Telcoin users to purchase QUICK and participate in protocol governance, and will also enable existing QUICK users to participate on the Telcoin Platform.
WBTC: Wrapped Bitcoin is a 1:1 tokenized representation of Bitcoin (BTC) on Ethereum. TEL/WBTC markets will enable end users to own the largest digital asset by market capitalization in the Telcoin Application. Given Bitcoin’s institutional acceptance in the USA, we view it as a compliant asset for consumers with strong demand characteristics.
AAVE: AAVE is the native governance token of the decentralized money market protocol of the same name. AAVE/TEL markets will enable active Telcoin users to purchase AAVE and participate in protocol governance. It will also enable existing AAVE users to swap for TEL and participate on the Telcoin Platform. We intend to launch additional products on Aave in future releases.
DFX: DFX is the native governance token of DFX, a decentralized foreign exchange protocol optimized for stablecoins and home to the SMS Network. DFX/TEL markets will enable active Telcoin users to purchase DFX and participate in protocol governance. It will also enable existing DFX users to swap for TEL and participate on the Telcoin Platform.
BAL: BAL is the native governance token of Balancer protocol, a programmable DEX which Telcoin aims to use to build fully customized pools with unique properties. BAL/TEL markets will enable active Telcoin users to purchase BAL and participate in protocol governance. It will also enable existing BAL users to swap for TEL and participate on the Telcoin platform.
Stablecoins: USDC, CADc, EURS, xSGD
TELx Protocol Selection
TELx protocols are selected based on their ability to enable new products for end users of the Telcoin Application. In order to be considered, the protocol must be sufficiently decentralized with no “back doors.” Their code must be battle tested and open source, with evidence of smart contract audits by reputable firms, and the system must be self-custodial, where users custody their assets at all times.
TELx Launch Protocols
The genesis TELx products, SMS Network and TELxCHANGE, are both uniquely enabled by AMMs on the Polygon network.
For more information about specific TELx Protocols, AMMs, and DeFi in general, please review the FAQ section.