Telos and pNetwork create Telos-Ethereum bridge with ERC-20 token and Uniswap listing
Telos, the second most active blockchain platform in the world, with over 600,000 accounts, has created a new bridge to Ethereum in coordination with plans to list its new ERC-20 token on Uniswap in March.
Telos worked with pNetwork, a cross-chain system allowing assets to move freely between blockchains, to create an ERC-20 version of its TLOS token, connecting it to the Ethereum network and expanding its accessibility to digital asset investors and developers.
As ETH reaches new all-time highs, Telos is in the midst of a major plan to tap into the massive Ethereum community while making it easier for anyone to buy or build on Telos. Telos recently raised more than USD200,000 in the sale of T-Bonds, a liquidity NFT invented on Telos, to fund its token listing on top exchanges starting with the creation of a large TLOS:ETH liquidity pool on Uniswap. This will help Telos achieve its goals of expanding the network of users and chains it serves while maintaining full decentralisation and providing investors and developers a vastly improved gateway to the Telos ecosystem.
“The launch of Telos in 2018 was a fully grassroots endeavour, without raising a penny, but that lack of funding greatly limited our exchange options. Today’s advances in blockchain interoperability allow us to keep the network decentralised while creating new ways to use Telos’ advanced governance and smart contract features,” says Douglas Horn, Telos Chief Architect. “Our integration with pNetwork and Uniswap listing allows Telos to reach new heights as a DeFi and developer-focused network as well as the world’s most advanced blockchain governance platform for dapps.”
The collaboration between Telos and pNetwork powers a Telos-Ethereum bridge enabling TLOS to be moved into Ethereum's growing DeFi ecosystem. With nearly USD30 billion now locked into DeFi, Uniswap has become the top decentralised exchange in the world with thousands of token pairs and a 24-hour trading volume of USD865 million. As it prepares to list on Uniswap, Telos will offer a purchasing pool of limited numbers of TLOS ERC-20 tokens, with a higher initial trading price anticipated once the ETH/TLOS Uniswap pool goes live. This will provide an opportunity for both longtime Telos supporters as well as ether investors to get in on the ground level of Telos’ next phase of growth.
Expanding its developer-centric features, Telos plans to soon launch the mainnet version of Telos EVM, the first deployment of an Ethereum Virtual Machine on an EOSIO blockchain. With Telos EVM, developers can use Solidity to run smart contracts on a platform that is 30 times faster than Ethereum with hundreds of times the capacity and gas fees that are about 1 per cent or less those of Ethereum. Developers will be able to directly upload Ethereum bytecode to Telos EVM with feature-parity with Ethereum. pNetwork will support Telos EVM with a bridge directly from Ethereum to Telos EVM, allowing Ethereum users to interact with Telos EVM directly without needing to interact with the Telos native interface except for initial free account setup.
"Telos and pNetwork share a similar vision, that interoperability and ease of use will play a major role in blockchain adoption,” says Thomas Bertani, founder of pNetwork. “We are pleased to work together to create solutions that help blockchain developers build without boundaries.”