New Leadership at Telos Foundation
The Telos Foundation has appointed John Lilic as its new CEO, who previously held the position of Executive Director. In a recent interview with BeInCrypto, Lilic shared his ambitions to transform Telos from a Layer-0 blockchain into a community-driven venture production studio. Drawing on his extensive experience with ConsenSys and Polygon, he aims to create a robust ecosystem that emphasizes decentralization, scalability, and significant utility for the native token, TLOS.
Innovative Venture Studio Model
Lilic envisions a strategic shift for Telos towards a venture production studio model. This framework is designed to allow Telos to internally incubate a diverse array of blockchain products. The goal is to enhance Telos’s self-sufficiency, enabling the foundation to develop solutions that cater to its community’s needs without depending on external entities. This approach not only fosters innovation but also aligns product development with the values of the community.
Telos X: A New Exchange Initiative
A key initiative in this strategy is the launch of Telos X, an exchange developed in collaboration with Binance’s Link Program. By utilizing Binance’s security measures and liquidity resources, Telos X aims to deliver a smooth trading experience alongside efficient fiat on- and off-ramps. During the Binance Blockchain Week in Dubai 2024, Lilic noted the challenges of establishing an exchange, underscoring the importance of starting with strong security and liquidity. He stated, “These foundational elements significantly enhance our chances for success. This vision is part of our broader ecosystem plan, which we will continue to develop as we expand the Telos ecosystem. We’re actively securing licenses across various regions to ensure compliance from the outset, along with strong fiat support.”
Advancements in Blockchain Technology
In addition to Telos X, the foundation is enhancing its ecosystem with the introduction of Telos zkEVM (zero-knowledge Ethereum Virtual Machine) and SNARKtor. These technologies aim to bolster secure interoperability and compatibility with Ethereum. SNARKtor, Telos’ proprietary technology, facilitates trustless bridges for secure cross-chain transactions, eliminating reliance on centralized providers. These advancements are expected to improve performance, enhance security, broaden the utility of the TLOS token, and foster deeper engagement from both developers and users. Lilic elaborated on this, stating, “The zkEVM operates above that layer and is entirely compatible with Ethereum. It not only amplifies SNARKtor’s functionalities but also employs a hardware-software co-design strategy, resulting in a high-performance, rapid solution. With the expanding proving markets, the ZK ecosystem is highly competitive, and we aim to become a significant player within that arena.”
Governance and Community Engagement
Another essential aspect of Telos’ strategy under Lilic’s guidance is its distinctive governance model, which relies on a Delegated Proof of Stake (DPoS) system. This framework grants token holders equal voting rights, allowing community members to easily propose and vote on changes. Unlike other networks that may rely on centralized treasuries or substantial subsidies, Telos embraces a decentralized approach that encourages long-term engagement and shared ownership among its community. Lilic explained, “For Telos block producers or validators, community activity plays a crucial role. If a validator or block producer fails to perform adequately, they can lose votes and be demoted in rank, meaning they will no longer be a top validator and will not receive payment. We believe that creating sustainable products and services that genuinely appeal to users is vital. Ultimately, that is the most effective way to conduct business.”
Responsive Product Development
Telos’ dedication to community involvement extends beyond governance to include responsive product development. Feedback from the community has led to the creation of EVM 2.0, an upgrade designed to resolve performance issues identified by users. This exemplifies Lilic’s commitment to providing genuine value to users, prioritizing quality and sustainability over short-term gains.
2025 Vision: Transforming the TLOS Ecosystem
The TLOS token is pivotal to Telos’ governance, utility, and overall ecosystem functionality. Besides its governance role, TLOS is integral to various layers and services within the Telos platform, including payment of gas fees, block production, and aggregation fees. Lilic noted, “Recently, our community proposed a governance change to reduce inflation, which resulted in a significant decrease in the inflation rate for block producers from approximately 14% to 4%. This initiative had a substantial impact on the token.” In the EVM layer, gas fees are paid in TLOS, and these fees are subsequently burned, similar to Ethereum’s burn protocol. Additionally, SNARKtor utilizes TLOS as its payment currency, supporting transactions across Telos, Ethereum, and potentially other chains. Telos X will also favor TLOS in its trading pairs and will implement a buy-and-burn program in regions where it is permitted, aimed at further supporting TLOS’s value. Lilic emphasized, “This indicates that the TLOS token is essential to our ecosystem, linking and supporting a variety of products and services with real utility and functionality.”
Future Developments and Community Initiatives
Looking ahead to early 2025, Lilic’s roadmap for Telos focuses on enhancing the utility of the TLOS token and broadening the network’s global footprint. Plans include the rollout of Telos X in various regions with fiat support and the launch of Telos zkEVM and SNARKtor by the middle of the year. As Lilic stated, the objective for EVM 2.0 is to establish the “fastest, most efficient EVM available, complete with a thriving ecosystem.” He pointed out that numerous new projects are prepared to join once 2.0 is live, marking it as a pivotal milestone. The ongoing research into ZK technology also remains a top priority, with SNARKtor expected to debut next year. By mid-2025, Lilic predicts that Telos will have EVM 2.0, SNARKtor, and the ZK EVM fully operational, supporting a high-performance and compliant ecosystem. He highlighted community-driven projects like Takika, their internal NFT platform, alongside ongoing marketing efforts and event participation to bolster community engagement. Lilic concluded, “By the middle of 2025, Telos will have evolved into a very robust ecosystem.”
