TELOS: Some Facts, Fairdrop/Sharedrop, Network Launch

corenet (58)in #telos • 6 years ago

As the Telos Launch day is approaching, people are getting focused and they have started giving more attention to it. More and more people are joining the Telos Blockchain Network (TBN) every new day. TBN is the first sustainable decentralized blockchain network based on EOSIO software. That means Telos is using the same code base as EOS Mainnet. As a TLOS tokenholder, you have authority, power and influence in the future development of TBN via Worker Proposal Fund (WPF). Everyone, whether you are EOS expert or a new cryptocurrency user, will find Telos a useful addition to the Blockchain World. https://telosfoundation.io/launch

Let's talk about some major facts of Telos. Some of the important key information.

What is TLOS?

TLOS is the name of the token that reflects ownership in the Telos Blockchain network (TBN). It is not a security.

Is Telos a fork of EOS?

NO

Of course, Telos is not a fork of EOS Mainnet. In fact it is a software or code fork of EOSIO. TBN is creating an entirely new blockchain network using an improved and modified version of open-source EOSIO software. Like Telos, EOS Mainnet is also a code fork of EOSIO.

Benefits of TLOS Tokens

As a TLOS Token holder, you become an active and vital part of the Telos Blockchain Network. You can influence the future roadmap of the development of the Telos Echo System.
Telos is a decentralized network. It has community-led governance protocols that are going to be established at launch. https://telosfoundation.io/governance
Telos also has a key recovery process for compromised EOS accounts and arbitration process to reclaim lost or stolen tokens.
Remember Telos has fewer than 1/3 of the blockchain tokens in comparison with EOS Mainnet. It also means that
TLOS owners have 3 times more network ownership percentage for the same number of tokens.
Telos will also reduce long-term annual inflation to 2.5% after the first year compared to EOS’s 5% annual rate.
Telos developers are focusing to build value. All EOS DApps must be open source, which will limit participation by many potential developers. Unlike EOS, DApp developers on Telos may designate original code portions of their DApps to be proprietary.
How and When does TBN (Telos Blockchain Network) Launch?
Telos aims to launch on October 31st, 2018. Launching is the process of beginning to run the Telos Blockchain Network to allow votes to be casted for block producers and for network validation.

See more at for Launch Check List: https://telosfoundation.io/launch

The Telos Network activation will occur at block 1,000,000 (5.8 days after launch)

Activation is the point when TLOS holders can begin transferring or using their tokens beyond just voting. The Telos Network activation will occur at block 1,000,000, 5.8 days after launch. This will give users ample time to begin voting for the block producers who will operate the network, while providing all other stakeholders a predictable date and time to commence operations and activity.

Telos Airdrop, Fairdrop, and Sharedrop

As said Telos is a completely new blockchain network. It uses same EOSIO operating software as the EOS Mainnet. Telos has made some improvements over EOS Mainnet and implemented additional features. It is not an airdrop. The distribution of TLOS tokens may looks similar to an airdrop in that anyone who owned EOS tokens will receive new TLOS tokens at their addresses based on our genesis token distribution algorithm. Some people may describe Telos as a sharedrop or fairdrop because of the initial distribution cap of 40,000 TLOS tokens per account. It will create a more economically decentralized token distribution.

Founder’s reward on Telos?

The Telos Contributors Group is an open membership group of over 100 contributors who have been working on Telos for up to four months. They will share a total of 6,000,000 tokens which would amount to 1.8% of the TLOS token supply.
There are currently two proposals under consideration that would increase the Founders reward to 12,000,000 tokens which would amount to 3.5% of the TLOS token supply.
A proposal to raise the token supply to 25,000,000 was unanimously rejected recently.
For comparison, BlockOne retained a 10% founders reward and Worbli will retain a 15% founders reward.