As many of our closest followers will already know, as it is all anyone has been talking about in the Telos Community Telegram, the Telos Ethereum Virtual Machine is up and running on testnet.
The EVM allows for any valid smart contract written in Solidity (0.5.16 recommended) to deploy on the Telos blockchain, operating as it would on the Ethereum network, but at far lower costs and higher performance.
Our developers have been testing out the deployment of a range of different Ethereum smart contracts via the Telos EVM, including some from well-known DeFi projects such as Uniswap. It is very exciting to see these smart contracts running smoothly on the Telos EVM testnet version!
Here is how the Telos EVM has been running in comparison to running natively on Ethereum or Binance Smart Chain:
As the Telos blockchain develops, so too is its utility. DeFi has been the hot new ticket of the last year, and for a good reason! A broad range of decentralised financial products are landing in the world of crypto, from savings to derivatives, options to lending.
You can expect to see these sorts of products operating on Telos soon; in fact, we have our first partnership to announce later this week… Stay tuned for that one.
What do I need to do to be eligible for the airdrops?
The airdrops will be for upcoming Telos DeFi projects, the first of which will be announced later this week.
The details of when the airdrops will be delivered, and at what ratio per TLOS, will follow at a later date.
In order to be eligible, all you need to do is hold TLOS in any TLOS compatible wallet (your TLOS can remain staked to REX) or ERC-20 TLOS in an Ethereum compatible wallet. The TLOS must be in a wallet and cannot be on an exchange. Snapshots start from the 1st week of March, 2021.