Following the unprecedented success of the Telos T-Bond sale, we are now ready to announce the next, and final, stage before TLOS lists on the world’s largest decentralised exchange – Uniswap.
Are you excited? Because we are!
The ERC-20 token swap on Bounce Finance
The Bounce Finance TLOS swap will start at 17:00 UTC, on Monday, March 1st, 2021.
A grand total of 20 million TLOS will be on offer in a single tranche, which equates to approximately 10% of the circulating TLOS supply. The Uniswap launch will then take place no later than 24 hours after the close of the ERC-20 token swap on Bounce.
You will be able to find the auction live on Bounce Finance only after the time and date mentioned above: https://bounce.finance/.
We can only share the official link once the swap has begun, so stay tuned to our announcement channels!
Strategic OTC purchases are available, please contact us to discuss.
ERC-20 token pricing
The ERC-20 tokens available in the swap will be sold at a higher price than the native TLOS tokens currently available via exchanges such as Cointiger, Probit, and Tswaps. However, the swap price will represent a discount on the Uniswap listing price.
The price of TLOS ERC-20 tokens in the Bounce swap will be announced 24 hours prior to the swap beginning, as will the expected listing price on Uniswap.
Once the swap is complete, which could be a very short window, a Uniswap trading pool of ETH and TLOS raised from the swap will be locked for two years to ensure long-term liquidity on the Uniswap platform and ongoing liquidity for TLOS.
Swap buyers, and the Ethereum community, will then have a minimum of 1 week to exclusively trade or add to the liquidity pools on Uniswap before the pTokens bridge opens allowing tokens to pass effortlessly between the Ethereum and Telos blockchains.
What about native TLOS?
Native TLOS tokens will remain the system token that empowers millions of applications and thousands of high-speed transaction on the Telos network; and will be used within the vast Telos ecosystem for Telos DeFi, Rex Staking and more.
Within 2 weeks of the Uniswap listing, the pTokens bridge will be live, and will allow the two-way trading of native TLOS tokens for ERC-20 TLOS tokens pegged 1:1; making it quick and effortless to redeploy your TLOS on the blockchain of your choice.
What does the future hold for TLOS?
Some funds from the swap will be put towards listing fees for tier one exchanges, such as Kucoin, and creating dedicated liquidity pools, ensuring TLOS will be available in more markets. Furthermore, a large pool of pETH and native TLOS tokens will be locked into the Tswaps DeFi platform on Telos, ensuring that high liquidity exists on both sides of the pTokens Ethereum-Telos Bridge.
Ultimately, the goal of the Telos blockchain is not to replace Ethereum, or any other blockchain, but to work in tandem – via the pTokens bridge that allows TLOS holders to put their TLOS to work in staking, DeFi, dapps and more cross-chain.
We are proud to be the most directly community-governed of all blockchain projects and are eagerly looking forward to what the future holds
Please note, as we write this post (February 23rd, 2021), Ethereum market conditions have been highly volatile. In order to protect TLOS buyers, we may make the strategic decision to delay the bounce.finance swap until market conditions have stabilised. We will keep you updated.