As outlined in the new whitelisting process, this is a proposal to increase the TEL (Telcoin) capfactor from cap1 to cap2 ($1M → $3M).
This proposal is to increase TEL cap tier from cap1 to cap2. TEL’s current liquidity surpassed >$3M with a total liquidity of $6.1M pooled. Tel pool can be found here.
What is Telcoin?
Telcoin is a full stack financial platform built on ethereum and integrated with telecom and mobile money platforms globally, aiming to build the standard for Mobile Financial Services 2.0. Our launch product, Telcoin remittances, recently launched in Canada & the Philippines and is available in iOS and Android.
In addition to remittances, Telcoin is working to ship a suite of high quality, affordable, and compliant end user financial products powered by ethereum and TEL holders to a mass market of users. Balancer is a core building block which will power that vision.
TEL, the native asset of the telcoin platform, powers financial transactions, coordinates liquid, TEL holder powered markets for end users, incentivizes telecoms to connect with & provide value to the TEL Ecosystem and Telcoin platform, along with numerous other exciting use cases we will be introducing in the coming quarters.
We view Balancer as the most well positioned automated market maker to bring powerful, novel end user financial use cases beyond speculation to the mass market and we have designed numerous smart pools we intend to commercialize.
The TEL/ETH 80:20 Balancer pool, an active TEL liquidity mining program pool (since October 2020), sits at USD$6.1million TVL and USD$1.4million in 24 hour volume. TEL liquidity providers have already begun voting on proposals with their mined BAL tokens. We view the idea that users of the Telcoin platform will own and contribute to the governance of the underlying decentralized protocols they use every day as one of the most exciting innovations uniquely enabled by crypto, and, at scale, hope to contribute thoughtfully to the governance of balancer.