Introducing the Cross-Chain TLOS Rebate Program

For a limited time, Bridge TLOS free to TelosEVM 

In preparation for the upcoming official TLOS token bridge we will be rebating fees for the ptokens bridge in the months of March and April

Background:

For a while now Telos has been available on Ethereum and Binance Smart Chain using the ptokens TLOS token. Whilst not official, it’s been a fantastic way to purchase TLOS for those in these ecosystems. That being said, in the interest of user experience, interoperability with other networks, and improving the networks security we will be releasing our own version of cross-chain TLOS. 

Free ptoken TLOS Bridging to TelosEVM (and TelosZero) for a Limited Time

In preparation for the new cross-chain version of TLOS we will be rebating ptokens bridge fees back to users who are moving tokens to TelosEVM.

Why are we doing this? Firstly, telosEVM is where the new cross-chain version of TLOS will be minted from using bridge.telos.net. Secondly, as a community we are unnecessarily exposed to bridging risk which can be easily fixed by encouraging the community to move their tokens back to our native platforms.

Currently there is more than 75m TLOS on Ethereum and BNB chain using the current ptoken bridge solution.  While we have no active concern with the current ptoken bridge solution or the upcoming LayerZero OFT solution (which has been audited twice) it is our opinion that having such a large amount of tokens on non native networks adds unnecessary risk and also is not optimal for ecosystem growth. While the Telos Foundation cannot control what individuals do with the tokens, we would like to actively encourage movement back to our platforms. Additionally, TLOS holders on Ethereum and BSC are missing out on amazing benefits like the current 9.5% staking reward and the plethora of DeFi options that have opened up. 

How the rebate works

If you bridge TLOS back to TelosEVM or TelosZero during March and April we will airdrop the ptokens bridging fee component to the destination address on TelosEVM. This will only cover the bridge fee component when bridging 1000 TLOS or more. We will not be covering gas fees and we will also not be covering the fee minimum for small transactions due to abuse potential. Telos Foundation reserves the right to not rebate fee’s for any reason and/or if abuse is suspected.

How to Bridge to TelosEVM

1. Visit the Ptokens Bridge
2. Connect your wallet with metamask or your favourite Ethereum/EVM wallet
3. Enter how much ptoken TLOS you wish to bridge and your destination address on TelosEVM  Note: we highly recommend testing with a small amount first

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4. Hit swap, it will take around 5 minutes typically but can take longer for larger amounts
5. Use wallet.telos.net or  chainlist.org to add TelosEVM to your networks in metamask

Explore the Telos Ecosystem

With your tokens now on TelosEVM you may want to explore the ecosystem. Whilst we do everything we can to protect the community please remember to do your own due diligence before engaging in the various opportunities in the ecosystem.

Staking (9.5% APR) (https://wallet.telos.net )

Engage in liquid staking to earn 9% APR on your TLOS using wallet.telos.net or teloscan.io/staking

Telos Bridge (https://bridge.telos.net )

Bridge USDC, USDT, ETH, BNB and soon TLOS between chains.

Swapsicle.io (https://swapsicle.io )

Coming Soon- The official TLOS bridge which will enable native like experience and open TLOS up to many current and new networks without cross chain liquidity limitations.

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Stay tuned for further updates. In the upcoming days we will be releasing the new cross chain TLOS release schedule.