New Leadership at Telos Foundation
Telos Foundation has recently appointed John Lilic as its new Chief Executive Officer, following his tenure as Executive Director. In an exclusive discussion with BeInCrypto, Lilic shared his ambitious plans to transform Telos from a Layer-0 blockchain into a community-driven venture production studio. Drawing from his extensive background at ConsenSys and Polygon, he intends to create a vibrant ecosystem that emphasizes decentralization, scalability, and practical applications for the native token, TLOS.
A Vision for Self-Sufficiency
Lilic’s strategic roadmap for Telos revolves around a venture production studio model, designed to incubate a diverse array of blockchain products internally. This approach aims to bolster Telos’ independence, allowing the foundation to develop solutions that cater directly to community needs, reducing its reliance on external platforms. Moreover, this studio model is expected to enhance innovation while ensuring that product development aligns with the values of the Telos community.
Introducing Telos X
A pivotal aspect of Lilic’s strategy is the launch of Telos X, an exchange created in collaboration with Binance’s Link Program. By utilizing Binance’s robust security measures and liquidity, Telos X is set to deliver users a smooth trading experience, along with efficient fiat on- and off-ramps. During Binance Blockchain Week in Dubai 2024, Lilic remarked on the complexities of establishing an exchange, emphasizing the necessity for strong security and liquidity from the outset. He stated, “These foundational elements significantly strengthen our chances for success. This is our current vision for the ecosystem, which we intend to enhance as we continue to develop the Telos platform. […] We are working on obtaining licenses in various regions to ensure compliance while providing comprehensive fiat support from the beginning.”
Innovations in Blockchain Technology
In addition to Telos X, the foundation is set to launch the Telos zkEVM (zero-knowledge Ethereum Virtual Machine) and SNARKtor, both of which are designed to enhance secure interoperability and compatibility with Ethereum. SNARKtor, Telos’ proprietary technology, facilitates trustless bridges for secure cross-chain transactions, eliminating the need for centralized intermediaries. These advancements are anticipated to improve performance, bolster security, and expand the utility of the TLOS token, while also fostering greater interaction among developers and end-users. Lilic elaborated, “The zkEVM operates above that layer and is completely compatible with Ethereum. It not only improves SNARKtor’s functionality but also employs a hardware-software co-design method, which allows for a high-performance, efficient solution. With the rapid growth of proving markets, the ZK ecosystem is highly competitive, and we aim to be a significant player in this arena.”
Empowering the Community Through Governance
Another key element of Telos’ strategy under Lilic’s guidance is its distinctive governance framework, which is based on a Delegated Proof of Stake (DPoS) model. This system empowers token holders with equal voting rights, facilitating active participation from the community in proposing and voting on changes. In contrast to networks that rely on centralized treasuries or substantial subsidies, Telos adopts a decentralized model that fosters long-term engagement and shared ownership among its stakeholders. Lilic stated, “For Telos’ block producers or validators, if they do not perform satisfactorily, the community is quite proactive. Should a validator lose votes, they can be demoted, which affects their ranking and payment. We believe that creating sustainable products and services that users genuinely want is essential. In the long term, this is the only viable business approach.”
Community-Driven Development
Telos’ commitment to community engagement goes beyond governance, as it places significant importance on responsive product development. By actively considering community feedback, the team developed EVM 2.0, an upgrade addressing performance concerns raised by users. This instance reflects Lilic’s dedication to delivering tangible value to users, emphasizing quality and sustainability over short-term gains.
Future Goals for TLOS and Telos
The TLOS token functions as a fundamental element for governance, utility, and overall ecosystem operations within Telos. Apart from its governance role, the token supports various layers and services on the platform, including gas fees, block production, and aggregation fees. Lilic noted, “Recently, a community-driven governance proposal successfully reduced inflation, decreasing the inflation rate for block producers from approximately 14% to 4%. This change had a significant impact on the token.” Within the EVM layer, gas fees are paid using TLOS, which are then burned, mirroring Ethereum’s burning mechanism. TLOS also serves as the payment currency for SNARKtor, supporting transactions across Telos, Ethereum, and potentially other blockchains. Furthermore, Telos X will focus on TLOS in its trading pairs, similar to Binance’s model with BNB. In jurisdictions where it is permissible, Telos X will implement a buy-and-burn initiative based on exchange revenues to further bolster TLOS’s value. Lilic emphasized, “This indicates that the TLOS token is vital throughout our ecosystem, linking and supporting multiple products and services with real utility and functionality.”
Looking Ahead to 2025
As Telos moves toward early 2025, Lilic’s strategic plan is centered on enhancing the utility of the TLOS token and expanding the network’s global footprint. Future initiatives include deploying Telos X across various regions with fiat support, as well as launching the Telos zkEVM and SNARKtor by mid-2025. Lilic aims for EVM 2.0 to achieve the status of the “fastest, high-performance EVM in the market, complete with a thriving ecosystem.” He pointed out that numerous new projects are ready to onboard once EVM 2.0 is operational, marking it as a crucial milestone. The ongoing ZK research also remains a priority, with SNARKtor anticipated to launch next year. By mid-2025, Lilic expects Telos to have EVM 2.0, SNARKtor, and the ZK EVM fully operational, all contributing to a high-performance, compliant ecosystem. He also highlighted community-led projects like Takika, their in-house NFT platform, alongside active marketing and event participation as essential to further enhancing community engagement. Lilic concluded, “By the middle of 2025, Telos will evolve into a highly robust ecosystem.”
