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November 26, 2024
🚨 Important Announcement from the Telos Foundation: Transition of TLOS Tokens from pNetwork Bridge 🚨
5
min read
As many of you are aware, we have made multiple announcements regarding the upcoming changes to TLOS tokens as pNetwork bridge discontinues its support for Telos Zero. Over the past months, a significant outflow of TLOS liquidity has already taken place, but there is still a considerable amount of TLOS tokens safeguarded by pNetwork.
To streamline this process for our users, we are pleased to announce that pNetwork and the Telos Foundation have reached an agreement to transfer the remaining TLOS tokens to the Telos Foundation for safeguarding and to facilitate seamless migration.
Details of the Transition:
pNetwork will transfer the remaining TLOS tokens on Telos Zero from x.ptokens account to the account below.
- Receiving Telos Account (Telos Foundation's Telos Zero Address): ptlosmigrate
- From the total TLOS on x.ptokens account, pNetwork will retain the standard protocol peg-out fee (0.25%) for pNetwork Node Operators.
- The Telos Foundation will safeguard and facilitate transfer of these funds for users who have not yet redeemed their tokens post the deadline.
Additionally, the Telos Foundation will assume ownership of the pTLOS tokens on Ethereum and BNB Chain, becoming the admin of the proxy contract.
- Telos Foundation's Ethereum Address: 0xc21d662b431333fE4c8224A25Ffd7799bef12A39
- Telos Foundation's BSC Address: 0xc21d662b431333fE4c8224A25Ffd7799bef12A39
This transition is scheduled for Wednesday, 27th November. From that point forward, the pNetwork bridge will no longer process any Telos transactions, and users will need to contact the Telos Foundation directly for further assistance. Please note that detailed instructions on how to claim your tokens will be made available within a week following the 27th of November.
In the meantime, we strongly urge all users to withdraw any TLOS and other assets held on pNetwork, such as pUSDC, pUSDT, pBTC, pETH, etc., by using the bridge as soon as possible before the deadline.
We appreciate your patience and understanding as we carry out this transition. The Telos Foundation remains dedicated to ensuring the safety and accessibility of your TLOS tokens.
For any questions or additional information, please do not hesitate to reach out to us.
Thank you for your continued support of the Telos ecosystem!
Disclaimer
The content provided in this article is for informational purposes only and should not be construed as financial or investment advice. Always conduct your own research and consult with a professional before making any financial decisions. Cryptocurrency investments along with other asset classes can be volatile and can result in potential losses. Always use caution, practice due diligence, and never invest capital you cannot afford to lose. Remember to always maintain the security of your accounts, use strong passwords, enable two-factor authentication, and be wary of phishing attempts. Stay safe and invest responsibly.
About The Telos Foundation
Telos is a decentralized blockchain ecosystem that includes Telos EVM, which is tested as the fastest Ethereum Virtual Machine globally, and its high-speed consensus layer, Telos Zero. With its continued focus on helping push forward the global adoption of Zero Knowledge technology, Telos is also currently developing a hardware-accelerated Ethereum Layer 2 network powered by SNARKtor, with the goal of enhancing privacy and scalability for global use cases at scale. Telos is overseen by The Telos Foundation, an ownerless foundation dedicated to advancing the Telos blockchain network and its community.
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