Telos (TLOS) Token Migration on Ethereum, BNB Networks and Beyond

New TLOS token contracts are available on Ethereum and BNB networks.  

We are moving away from our third party bridge provider in ptokens to our own contract based on the Layerzero OFT standard. 

This change impacts the existing BNB Chain and Ethereum based TLOS.
The change will have no impact on TelosEVM and TelosZero based TLOS.

The existing ptokens TLOS but will no longer be the primary/official version of TLOS on BSC and Ethereum so all exchanges and wallets are being asked to transition. Although ptokens TLOS will continue to be pegged to native TLOS we are not sure it will remain operational past the end of 2024.

The new version of cross chain TLOS will be available on our official bridge interface: https://bridge.telos.net. Users of the ptokens version of TLOS are encouraged to follow the migration guide included in this article.

Note: The Telos Foundation has extended the reimbursement fees charged by pnetwork until the end of June 30, 2024. 

Why we have made this move:

• Better support: Moving to contracts maintained by the Telos community means better support
• Unified Integration: The Move to OFT based TLOS means better support from https://bridge.telos.net and other Telos interfaces
• Lower fees: No fees (beyond gas and external party oracle/relayer fees) are to be applied.
• Easier movement between chains: the new standard allows minting and burning TLOS between chains.

The old and new contracts.

ETH Contract

Old                          

0x7825e833d495f3d1c28872415a4aee339d26ac88 

New

0x193f4A4a6ea24102F49b931DEeeb931f6E32405d

BNB Contract

Old                          

0xb6C53431608E626AC81a9776ac3e999c5556717c

New

0x193f4A4a6ea24102F49b931DEeeb931f6E32405d

Timeline:

June 10 2024

• Official Announcement 
• New TLOS Bridge Go Live
• Begin adding new TLOS to wallets
• pTLOS liquidity across dexes removed
• pTLOS bridging (one way only- back to Telos Only)

June 20 2024

• Official DEX Transition Date
• Pause Ptokens TLOS deposits on exchanges
• Exchange transition to new TLOS begins June 20 (Transition expected to take 4-6 weeks)

Dec 31 2024

• End of Ptokens Support Deadline

Migrating your tokens: 

Step1:  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

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

Step 2 (Optional):  Bridge back to external networks (Ethereum, BNB Network etc)

1. Visit https://bridge.telos.net
2. Connect Wallet
3. Swap tokens from TelosEVM to any network of your choosing

New Networks that now support TLOS

Avalanche: 0xed667dC80a45b77305Cc395DB56D997597Dc6DdD

Polygon: 0x193f4A4a6ea24102F49b931DEeeb931f6E32405d

Arbitrum:  0x193f4A4a6ea24102F49b931DEeeb931f6E32405d

Links to Audits:

The Omni Fungible Token(OFT) Standard has been thoroughly audited by Layerzero and is also widely used by a number of projects include Pancakeswap (CAKE), Trader Joe (JOE) token and numerous other examples without incident over more than 2 years now.

LayerZero Audits

https://github.com/LayerZero-Labs/LayerZero/tree/main/audit

Telos OFT Implementation Audit

https://github.com/bailsec/BailSec/blob/main/Bailsec%20-%20Telos%20OFTV1.2%20-%20Update%20(differential)%20(%2BResolution)%20Final%20Report%20Github.pdf