Acceswire.com has released a news item mainly about Telos R that has spread to quite many other places too, Crweworld, Yahoo Finance, Business Insider being the first three that I have seen, and Reddit also getting a thread about it already.

The article tells about some technical stuff in Transcendence/Telos land, like Dashboard and AML-Now, but the main focus is on telling about Telos R and related things.

While the news item doesn’t really tell much more about Telos R than you can already see from the article I wrote about it earlier, There is however one specific mention there. For it mentions that Telos R swap rate is 2 000 000 : 1, while earlier it has been said that swap rate between Telos R and Telos would be 1:1, this is a change in plan that Pascal confirmed in Discord after this was asked.

While this news item can be a good reminder of what the main focuses in Telos land are right now, what really caught my eye, and which might be the most interesting part of the whole article, is the contact details.

For in these contact details there is under this “Media Contact”-part mention of “PR”, and this PR contact detail is “Cryptoshib.com“.

I asked on the latest Freaky Friday live session from Pascal about this, and he did confirm that this PR firm is in sort of try out for Telos PR right now and I hope to write another article to introduce you to Cryptoshib and tell more about it as long as Cryptoshib answers my questions. But just to mention that one interesting thing about this Cryptoshib is that Pascal thinks it is possible this Cryptoshib owner might own some Telos coins already from 2018, which is pretty much from the beginning times of Telos.

Telos R now has a logo.

There was a vote about the Logo, and winner logo was the one you can see up there in this news item.

It appears we have a new roadmap for this year ready based upon that Pascal tweeted it, well, actually not so new since this was tweeted already a month ago.

It appears to be very similar in style to the previous Roadmap for 2020 in that it tells only about some technical things and mainly leaves all the fun stuff out, like Cryptomages. But then again, Cryptomages didn’t come out in 2020, so maybe it was for accuracy.

When reading this roadmap, it is good to compare it to the previous one to have some idea how well these plans will come together. I would say, without actually thoroughly checking it, that about half of what was in roadmap 2020, did happen, and then another 1/4th happened in some different form than originally planned, and another 1/4th didn’t happen. So perhaps this is what we can expect from this one too.

But what is there now:

TELOS WALLET isn’t really telling us much anything. It mentions there are going to be two votings, one about Telos fundamentals (rewards, collateral, split) and another about a hard fork, which actually sounds pretty much the same as the first one, except that it adds voting about magnet links, which seems to be connected to the third thing mentioned, which is to add Transcendence Cloud to wallet I suppose, although the wording is just talking about adding magnet links to use in Transcendence Cloud (which it says will be voted on hard fork part?)

In short. Seems the plan from technical stuff is to add Transcendence Cloud (used to be Amicloud) to Wallet and add a Magnetic link feature to be able to use it with the blockchain. And non technically to have votes about telos fundamentals, which will probably happen through Dashboard actually, although they technically are Wallet features.

XBTX WALLET section mentions only DYNANET being added, more about that in the DYNANET DEX part.

XBTX ASSETS section mentions a couple of Assets that are planned to be created using the XBTX Asset creation system:

AML token is for the AML-Now KYC system
BAM (Brick And Mortar) is meant for real estate stuff
EUREX is to my understanding Euro Bound token, meaning the price of one Eurex should always be exactly one Euro
CO2 token is meant for Greenbox (a different version of a Bluebox).

DYNANET DEX tells in more detail about the DYNANET that is mentioned in the XBTX Wallet part. It is planned that next month first trusted nodes will be put up for this Dynanet DEX, and I suppose these are the same trusted nodes that I have mentioned in “Telos R – What is it?”-article, which also tells you more about the part where it mentions Telos R as one of the roadmap features in DYNANET.

It also mentions that DYNANET will have Crosschain feature that will be used by bitdorado, probably meaning that Bitdorado could be used as an exchange basically.

Swap & Merge part I leave uncommented, since I am too unsure what exactly it is talking about.

TRANSCENDENCE DASHBOARD tells about stuff that has actually partially been even done already (I saw the first work-in-progress version of this Roadmap already at February I think). It mentions built-in KYC, which might be the AML there already, or maybe something else, Built-in Masternode hosting, meaning you can easily set up master nodes without tech-how just using the dashboard, and hash power renting using the dashboard, which is basically the same as we have in Bitdorado already but would be doable directly from the dashboard.

Cloud I suppose is the same as Transcendence Cloud in the TELOS WALLET section, and Multiservice is just vaguely without details mentioning that there is a plan to merge Indiego, Cloud, and dashboard all into the same. That basically I suppose Indiego store would work through the dashboard. Last, CO2 token is mentioned again, as it was mentioned in XBTX ASSETS already once.

GENERAL UPDATES mentions built-in arbitrage trading, does it mean that users can do it automatically or something else, is not told. Tax reporting is mentioned, and have also to at least some part even added to the dashboard already, I myself used it for end of year tax reporting already. And then there is mention of antifraud on the on-chain analysis level. I am not sure how exactly that works, but I guess this vague description gives already quite a good idea of the general idea.

This is the plan, and hopefully it works out fully and more stuff comes too. Based upon how the 2020 roadmap happened, I suppose we can expect quite many of these to become reality and some more stuff too that are not mentioned here at all.

Telos R is now looking for a new logo, and you can help in choosing it.

Go to the voting webpage where you can rate each Logo design with 1 to 5 stars, and I suppose the one with the highest rating will be picked.

However, do notice voting has been going on for several days already, and today should be the last day to rate/vote anymore.

Telos R, first of all, is confusingly named. It will not replace our current TELOS but is another coin that in its use case has only very little to do with the original Telos and hence won’t really affect the old TELOS in a negative way.

While Total amount of TELOS R will be a fixed amount, the total amount of Telos R is not yet set, but it will depend upon amount of TELOS used to swap for it.

The thing is that the current plan is that when the prelaunch, or whatever we should call it in this case, starts, then it will be possible to switch TELOS coins to TELOS R coins with 1:1 ratio.

What is interesting in this is that these TELOS coins swapped to TELOS R coins will go out of circulation. Meaning that the TELOS coins left on people’s wallets will basically be more valuable as there are fewer TELOS coins in the market left.

After these three months is over these two coins will separate their paths, and after that you can buy TELOS R coins against TELOS coins through exchanges, just like you would buy any other coins in exchanges, meaning that instead of a fixed price the market sets the value, and in addition, these TELOS coins won’t go out of circulation anymore like the TELOS coins that will be used to buy TELOS R in the first three months will do.

WHAT IS THE USE OF TELOS R?

TELOS R will be DynaNETs reward token for peers, but to understand what that means, I am now going to explain the DynaNET as much as I have understood about it so far, for partially I haven’t quite figured out its usage possibilities.

DynaNET will be a DEX system consisting of 21 Trusted nodes, and unlimited amount of Peers.

These trusted nodes mean they are master nodes, but instead of giving a chance for anyone to put up one, there will only be 21 of these in total, and the ones allowed to run them will be handpicked.

The idea with this is that instead of ending up to Telos version 1 situation where we had over 10 000 Master Nodes, and most of them sucked and therefore the whole network was stuck, by giving a chance to only 21 Master Nodes to be run will give incentive for those running them be folks who actually know what they are doing and who are also willing to put money into running their master nodes properly since rewards will be pretty good for them as instead of over 10 000 master nodes sharing the pot, there will only be 21 master nodes sharing the pot.

And this all should result in a good and nicely working network which should require only very little maintenance from Pascal’s side.

The purpose of these Master Nodes is to be running something called VMS which Pascal prefers to call Bubbles for each supported chain (This could be BTC, ETH, TELOS, PIVX, etc.), and the catch for someone wanting to run one of these is that it provides DEX API for its owners, making it possible for them to build their own DEX platform or APP powered by DEX (I admit, I am not sure what exactly that means), and, I guess most important of all, master node owner will receive 1/21 of all fees from transactions, withdrawals from DEX, and trading.

THAT WAS MASTER NODES, BUT WHAT ABOUT THOSE PEERS?

Now notice how I said that TELOS R is a reward token for PEERS. This means (If I understood right) that those running Master Nodes are not getting them.

What PEER means, is Transcendence Dashboard.

Yes, all the people who are running their Transcendence Dashboards, meaning they keep it open and running (and synced I suppose), will get some TELOS R rewards thanks to keeping their Dashboard open and having copies of blockchains in their computers.

These rewards are 1/10th of all the rewards for these 21 master nodes. So these Master nodes are actually not getting 1/21th of all rewards in practice, since they need to pay out 1/10th of them to PEERS.

The interesting part in this payment to PEERs is that these master nodes will pay them with TELOS R. That if you are running your Transcendence Dashboard, you will be receiving TELOS R coins as a reward.

What makes this interesting is that since Master Nodes themselves are not getting TELOS R coins, this means they have to buy them from the market first.

And that means that as long as people keep trading in DEX, there will constantly be an automatic buyer for TELOS R coins making TELOS R have a constant buy force.

This then means that if no one is willing to sell their TELOS R coins for cheap, then that automatic buyer is forced to buy them for an expensive price.

If no one is willing to sell their TELOS R coins for less than a million a piece, then this automatic master node buyer will buy that TELOS R for that price, since it has to get that, for example, 0.005 pieces of a coin to be able to pay it to PEERS (Dashboard users).

And this is what makes TELOS R very interesting. As long as the DEX works out, TELOS Rs value can then be solely decided by sellers as long as sellers don’t start competing against each other.

For normally if you set the price too high, buyers are not interested and refuse to buy, but in this case master nodes automatic buyer is forced to use a certain amount of money to buy TELOS R, regardless of what the price is. Making TELOS R the ultimate Hodler coin.

Because TELOS Rs use case is limited to just this, it will naturally not affect TELOS much in a negative sense. It will not compete against TELOS coin, and for example, if you wish to gain better payment levels in Bitdorado Coin & Grow pools, you still need to use TELOS coins to achieve that since TELOS R will be useless for that purpose.

Now we just wait until Pascal announces that TELOS coins can be swapped against TELOS R coins. until that, better scrape those remaining Telos coins on sale in exchanges.

edit 7th of Aug 2021:

The plan about the Swap ratio has changed. The current plan is that the Swap ratio will be 2 Million Telos : 1 Telos R