Telcoin – blockchain application and its TEL token |
Since the launch of Telcoin V3, the TEL token and the TELx decentralized liquidity mechanism have become very widespread. Thanks to the intuitive Telcoin mobile application, the project lays the foundation for improving the slow and expensive outdated money transfer industry. To do this, Telcoin uses a multi-level stack of applications with full ownership of the user. Moreover, the native TEL token is extremely important for the operation and security of the platform. Holders of TEL tokens receive numerous opportunities to support the network and, thereby, receive passive income. In this article, we will delve into the Telcoin crypto ecosystem, and discuss the variety of services available. And in addition, we will consider many functions of the TEL token. What is Telcoin? What is Telcoin? telcoin Users of the Telcoin crypto ecosystem are mobile money service providers (MMSP), mobile communication operators (MNO) included in the Global Mobile Communication System (GSMA), and active users of the Telcoin platform itself. Moreover, holders of the native TEL token receive the rights to manage the platform. Telcoin is rethinking shady and unreliable traditional money transfer services. It gives you the opportunity to download the Telcoin application and participate in a fully decentralized payment network. Telcoin provides users with the opportunity to support and manage the application, and in return receive a reward. The recent update of Telcoin V3 introduces new adjustments to the decentralized liquidity network, TELx and the Send Money Smarter (SMS) network. Later in the article we will discuss each of these aspects. The project itself does not provide storage services. Users are always in full control of their assets themselves. TEL token tel token As the base asset of the platform, the TEL token is the main medium of exchange and a reserve asset. Moreover, it provides decentralization and user ownership at every level of the Telcoin crypto project stack. This includes the application level, the market level, and the settlement level. Each level represents several utilities for the TEL token, both with a "productive and consumer" tokenomic role. In short, this means that every Telcoin product has reserves of TEL token liquidity. The asset is necessary for interaction with TELxchange markets. Thus, the profit from the economic activity of the platform will go to the holders of TEL tokens as a reward. As a TELx reserve asset, the TEL token represents utility as the most cost-effective medium of exchange on the platform. Moreover, SMS Network users can use the TEL token as an alternative currency to stablecoins. Recipients of transactions sent using the TEL token will receive settlements in their chosen local stable coin. The TEL token acts as an intermediate currency between SMS Network and TELxchange, as it is the only digital asset with liquidity for both. By default, all transactions on the Telcoin platform will pass through the TEL token pools. Mining of liquidity TEL In addition, Telcoin's tokenomic infrastructure means that fees, which are usually absorbed by third-party intermediaries, investors, brokers or banks, are redistributed among holders of TEL tokens supporting the platform. Users wishing to support the platform as liquidity providers can do so on several popular decentralized exchanges (DEX). Initially available on Uniswap and later on Balancer as a pilot project to stimulate liquidity extraction, now there is a choice of liquidity pools available on the Polygon (MATIC) network. Simultaneously with the release of Telcoin v3, users can provide TEL-ETH, TEL-QUICK and TEL-MATIC liquidity pairs on the leading Polygon DEX platform. TELx Mining Users can take their LP tokens as proof of liquidity and put them on the line to become TELx miners. This means that in addition to receiving transaction fees from participating AMMS, TEL token holders can mine additional TEL tokens. In addition, miners can withdraw their accumulated TEL tokens by deleting their LP tokens at any time after the conditional completion of the allotment schedule. Since it is a completely open source protocol, anyone can provide liquidity for the Telcoin project. TEL (LP) token liquidity providers can place their LP tokens through the TELx portal, supporting SMS Network or TELxchange smart contracts. First, just specify how many LP tokens you would like to deposit. Then click "Stake" and confirm the transaction to become a TELx miner. Keep in mind that users can earn TEL tokens through mining and platform fees from Telcoin users. In addition, users can receive a commission for providing liquidity to participating Automated market makers (AMM). Telcoin V3 Each level complements each other, but presents its own set of individual responsibilities. Below we will look at the infrastructure of the platform: the Telcoin, TELx and Rivendell application, as well as new elements that have appeared in Telcoin V3, TELxchange and SMS Network. The Telcoin App This provides several advantages, including faster transaction speeds and lower costs. Moreover, since Polygon runs on top of Ethereum, the Telcoin application maintains the security of the largest blockchain with support for smart contracts. The Telcoin app is available for download in the Apple App Store and Google Play Store and exists primarily to serve as a simple, fast and cheap alternative to traditional payments and money transfer services. For people living in countries with difficult economies or who do not have access to banking services, the Telcoin app can be a good solution! TELx telx The TELx liquidity mechanism provides complete decentralization of Telcoin services, allowing the Telcoin application to provide decentralized financing (DeFi) services to end users. The long-term goal is for all Telcoin application transactions to be routed exclusively through TELx market pools in collaboration with supporting decentralized exchanges (DEX) and automated market makers (AMM). With the launch of Telcoin V3, the project has launched nine new incentives for a pool of liquidity provision on two DEX in the Polygon network. All TEL tokens paid as fees for the Telcoin application are distributed to TELx supporters who place their TEL tokens. Thus, when TELx supporters interact with the Telcoin application, they, in fact, pay themselves for participating in the payment network. Telcoin manages to organize a complex bi-directional medium-level infrastructure that ensures true ownership of users, refraining from financial intermediaries. Telcoin uses smart contracts with the TELx liquidity mechanism, rewarding participants with a fair share of the platform's fees. TELxchange TEL token holders can become TELxchange Liquidity Providers (LP) through TELx portal smart contracts. Thus, users interacting with the digital asset exchange will receive a reward in the form of TEL tokens when processing transactions on the exchange. SMS Network sms network In addition, SMS Network is also under full routing of user-owned payments through the TELx liquidity mechanism. However, the liquidity tokens of the TEL token are combined with various stablecoins. Thus, if SMS Network users also provide liquidity using Telx, they will, in fact, pay themselves when confirming and sending transactions on the network, similar to the TELxchange model. The Send Money Smarter (SMS) network hosts liquidity pools for token-stablecoin TEL pairs. This includes the USDC, the Canadian Digital Dollar (CADc) stable coin, the STATIS EURO (EURS) stable coin, and the Singapore Dollar (xSGD) stable coin. Rivendell In addition, Rivendell allows decentralized Finance (DeFi) applications to work exclusively with mobile network operators (MNO) as an exclusive set of validators. This allows mobile networks to offer their users financial blockchain solutions with minimal overhead. Moreover, GSM operators with full status have the exclusive right to launch transaction nodes and receive network fees. The Rivendell project aims to become a popular distributed registry for the telecommunications industry. In addition, thanks to impeccable compatibility, Rivendell offers full customization of applications according to the requirements of the service. Rivendell is responsible for the calculations of the Telcoin stack. As an associate member of the Global System for Mobile Communications (GSMA) mobile network, Telcoin supports the Rivendell sidechain. In turn, Rivendell node operators are rewarded for issuing TEL tokens as an incentive to ensure the security and growth of the network. Results In addition, Telcoin V3 offers users of the Telcoin crypto project the opportunity to receive passive income by providing liquidity and placing their tokens. In addition, liquidity providers (LP) that use the Telcoin digital asset exchange, TELxchange or the SMS Network payment network will receive a percentage of the platform's commission. As an open source project, Telcoin aims to present a platform for true financial accessibility by rewarding network members with commissions that would traditionally be paid to shareholders. Among other things, Telcoin offers every user the opportunity to become a TELx miner. Go back |
30-12-2022, 17:56 |