A vibrant Telcoin marketplace is erupting on Polygon-native Quickswap Exchange!
Active Telcoin users are one step closer to fulfilling their mission of bringing fast and affordable, user-owned financial products to every mobile network subscriber in the world:
Fast: Polygon can achieve at least three orders of magnitude higher throughput and scalability than Ethereum layer one.
Affordable: Polygon transactions cost a fraction of a penny. Since trading costs on AMMs are determined by the amount of liquidity in a pool, intuitively, the larger the liquidity the lower the trading costs, active Telcoin users directly impact the affordability of products they interact with on the Telcoin platform.
User-Owned: Not to be confused with equity ownership in a private or public company unless specifically stated in a securities offering, Telcoin markets on Quickswap and Polygon enable user-ownership in the following ways:
User Owned Products: Telcoin users provide both active and passive services that benefit end users of the Telcoin suite of products, earning transaction fees typically awarded exclusively to financial institutions and utility token network ownership.
Full Stack User-Ownership: A core design objective of the Telcoin platform is to be owned and operated by active Telcoin users at every layer of the stack. At scale, we are optimizing the system so that active Telcoin users can earn, access, and actively participate in governance and other services across the entire stack of economic systems they rely on in their daily lives. By governing the protocols they rely on for services they use, Telcoiners can propose and vote on ways to improve these systems specifically for the purpose of achieving the Telcoin mission and their own financial goals.
TEL x QUICK: A Telcoiner & Quickswap Dragonite collaboration would align active community members and optimize each ecosystem to scale to meet the demands of every mobile phone user in the world. QUICK, the native governance token of Quickswap, can be staked & pooled to earn transaction fees, QUICK incentives (90% of all QUICK is mined by active users), and more.
TEL x MATIC: MATIC is the polygon native protocol asset, and holders can stake their tokens and validate the MATIC POS Network and bridges, capturing transaction fees (such as from TEL marketplace swaps and transfers) and validator issuance incentives for securing the system.
In our vision of a perfect world, every Telcoin end user provides liquidity and other services to the markets that power Telcoin, capturing transaction fees from products they rely on instead of exchanges, FX providers, the interbank market, banks, brokers, professional market makers, and other legacy middlemen.
In other words, we want you to PAY YOURSELF!
Telcoin x Quickswap Phase 1
Deep AMM market liquidity on Polygon is a key initial building block in the construction of Telcoin’s user-owned financial platform and suite of products. We are excited to see how this marketplace grows in the coming weeks as we work towards phasing in various elements of V3.
Active Telcoin users have created a small, but vibrant marketplace on Quickswap already. Active users can participate in the following 3 pools that are already active and begin earning fees on swaps today.
Quickswap utilizes a weekly, data-driven QUICK incentives system for liquidity miners, and the next rewards calculation is early May. It is entirely possible, though completely outside of our control, that active Telcoiners build up a large enough marketplace to begin earning QUICK incentives.
TEL Mining Incentives
A liquidity mining incentives pilot project on Uniswap and Balancer is ongoing and will be continued through the month of May. In the coming months, our formalized mining incentives systems will be launched prior to the release of V3 of the Telcoin mobile application, which may include these pools and many others.
Bridging to Matic
In order to provide liquidity to Telcoin pools on Quickswap, you will need to first bridge your assets to the Matic Network via Metamask or another supported wallet. This can be done using the Matic Bridge (https://wallet.matic.network/bridge) or via Zapper.fi (https://zapper.fi/dashboard).
TEL Polygon Token Details
TEL Polygon Contract Address: 0xdF7837DE1F2Fa4631D716CF2502f8b230F1dcc32
TEL on Polygon (formerly Matic) Block Explorer: https://explorermainnet.maticvigil.com/address/0xdF7837DE1F2Fa4631D716CF2502f8b230F1dcc32/transactions
Once you have successfully bridged to Matic Network you can provide liquidity to TEL pools by:
Clicking on the links above or searching for TEL pools at https://info.quickswap.exchange/pairs.
Next click “Add Liquidity” on the pool page of your choice.
You will have to first authorize Matic Network to spend your tokens in the liquidity pool.
Once both tokens have been authorized, click “supply.”
You are now an LP on Quickswap!
Quickswap Reference links for new users
Quickswap Exchange: https://quickswap.exchange/#/swap
Quickswap Medium: https://quickswap-layer2.medium.com/
Reference links: Matic & Metamask
Matic Wallet: https://wallet.matic.network/
Metamask FAQs: https://metamask.io/faqs.html
Matic Wallet support: https://wallet-support.matic.network/portal/en/home
Bridging to Matic: https://www.youtube.com/watch?v=4t44nVJObls
Adding Liquidity to pools on Quickswap: https://www.youtube.com/watch?v=3BAzr1PA7J8
Providing liquidity is risky. When you pool your assets, you expose yourself to the risk profile of those assets and the contract risk of the protocol you are supplying.
Telcoin offers no advice or recommendations, and has no responsibility over assets, including TEL, you decide to hold, pool, swap or use in any way.
TEL is a decentralized utility token designed to be used in a variety of ways for consumptive and productive purposes. Telcoin does not control the usage of TEL by any users. TEL is not an investment in any way, it is meant to be used. Telcoin literature or announcements should not be considered an investment contract or call to action.
This announcement in no way serves as a solicitation to buy, sell, swap, pool, stake or use any assets mentioned.
When you pool, you expose yourself to volatility risk, and may end up with less TEL or value than you initially deposited. Telcoin has no control over TEL or any other assets in any decentralized market.
Smart contracts are susceptible to bugs and Telcoin is in no way affiliated with the development of any DeFi protocol. You are solely responsible for your decisions you make with your assets, and should take great care to properly complete due diligence and consult with registered investment professionals where you personally deem fit.
Source : Polygon Medium