Introducing Telcoin V3

8 min readJun 30, 2021


Decentralized, user-owned financial products for every mobile phone user in the world

Today, Telcoin is pleased to introduce the long-anticipated “V3” of our user-owned, decentralized financial platform. We’re revealing two new websites that detail two core layers of the Telcoin Platform, along with instructions for how you can participate.

V3 is more than just an incremental update — it marks a major evolutionary milestone for Telcoin. We began our journey focused on financial inclusion, and we believe that V3 takes that mission to new heights. Not only will Telcoin offer the most affordable money transfer network on the planet, operating 24/7/365 with instant global settlement, but we’ve decentralized the liquidity engine of the platform to users, empowering them to participate and capture fees they now exclusively award to legacy financial institutions from products they rely on in their everyday lives. Telcoin V3 marks the genesis of a new, user-owned financial system for everyday people, and we are incredibly excited to be a small part of what we believe will positively impact the lives of billions of people.

We remain committed to Ethereum as the most open, versatile and widely adopted blockchain. At the same time, in V3 we recognize the need for transactions to be affordable for remittance and everyday payments. As the scalability wars have raged on, we have paid careful attention to the various solutions that will enable us to leverage the network effects and security features of ethereum, while offering our customers fast and affordable, user-owned products without compromising on decentralization.

After thorough analysis, we have made the decision to release V3 of the Telcoin Financial Platform on Polygon POS, and to leverage the Polygon SDK to launch the Rivendell Network, an Ethereum side-chain whereby GSMA Full Member Mobile Network Operators are the exclusively authorized validator set. Head over to TELx to learn more about Telcoin and Polygon.

Let’s dive in and learn more about what exactly we’re unveiling today — and what we intend to launch over the coming weeks and months.

The Telcoin Platform

Telcoin V3 is a user-owned, decentralized financial platform powered by active Telcoin users and partners. The Telcoin Platform is a multi-layered, full-stack architecture with unique market participants on the demand and supply sides of each layer with a specific set of roles and responsibilities.

The Telcoin Platform stack consists of three main, complementary layers — the Telcoin Application, TELx, and Rivendell — which are explained more thoroughly below.

Telcoin Application V3

The Telcoin Application is a compliant, secure, and easy to use interface to the Telcoin Platform. The next generation of the Telcoin Application will launch on the Polygon Network with a wide variety of new features, and two products we are incredibly proud to announce:

  • Send Money Smarter (SMS) Network is a user-owned, decentralized international money transfer platform disrupting the US$700 billion remittance industry. SMS decentralizes foreign exchange to active Telcoin users on DeFi protocols, enabling remittance senders to capture fees now exclusively awarded to legacy financial institutions, at a fraction of the cost, with instant global settlement near mid market prices.
  • TELxchange is a user-owned, decentralized digital asset exchange network that uses TEL as the reserve asset and medium of exchange. TELxchange decentralizes token exchange to active Telcoin users on DeFi protocols, enabling users (in supported geographies) to swap, directly from their bank account, between TEL and TELx ecosystem assets while capturing a portion of trading fees now exclusively awarded to centralized exchanges — without giving up custody of their assets.

Both of these products are uniquely enabled by active Telcoin users on DeFi protocols or TELx, and new end-user functionality in the Application will be phased in as each individual decentralized market reaches viability. Once the first markets are ready for integration, Telcoin will launch V3 of the Application with the above feature set and more. Enter TELx.

Introducing TELx

TELx is the decentralized liquidity network of the Telcoin platform, serving as the engine that powers Telcoin’s suite of self-custodial financial products — two of which we are revealing today.

At scale, all Telcoin Application transaction volume will flow exclusively through TELx markets on supported DeFi protocols. The system aims to achieve true user ownership, where active Telcoin users provide supply-side services to networks that power products they rely on in their daily lives — all while capturing fees typically awarded exclusively to financial institutions and TEL, the native asset of the platform.

We’re launching TELx incentives across nine decentralized markets on top of two DeFi protocols, Quickswap and DFX (Polygon), which will exclusively power two new user-owned products detailed below. The addition of new TELx markets follows a rules-based approach and their eventual integration to the Telcoin Application will happen over time as users make them liquid and decentralized enough to reach viability for end-users.

Go check out TELx to learn more about how the platform works and how you can participate!

Introducing Rivendell

Rivendell is an open Ethereum sidechain run, validated, and secured by MNOs. Rivendell enables mobile networks to provide blockchain-based, self-custodial financial services to their subscribers — without needing to be a bank or custody funds, at a fraction of the cost of the legacy system, while leveraging their existing network and fraud infrastructure to power the system.

Head over to the new home of the Rivendell Network to learn more!

TELx Genesis Products

Alongside the reveal of our TELx marketplace layer, we’re also excited to announce the first two products that are launching on top of it: the Send Money Smarter (SMS) Network and TELxchange.

The Send Money Smarter (SMS) Network is the user-owned, global cross-border money transfer network that underpins the next iteration of Telcoin digital remittances.

In addition to operating at a fraction of the cost of incumbents, 24–7–365, with near instant transaction settlement, the SMS network decentralizes foreign exchange to active users on DeFi protocols and enables remittance senders and beneficiaries the ability to capture fees from products they rely on in their daily lives. The variety of use cases enabled by SMS Network will only be limited by the global foreign exchange and transfer market’s appetite for moving money globally. From user-owned remittances to import-export markets, the system itself will improve as we scale to new markets and add new DeFi primitives to complement the service.

Telcoin users deposit TEL and a global basket of stablecoins into a diverse network of liquidity pools. Telcoin SMS remittances flow exclusively through those pools as “send and swap” transactions — with instant bank to settlement in one tap. Recipients decide whether to instantly cash stablecoin balance out to local currency — or any other supported stablecoin or ERC20 token on the Telcoin platform.

We are launching SMS Network V1 on DFX (Polygon) and Quickswap with remittance markets between the USA, Singapore, Canada, and the Eurozone powered by TEL/USD, USD/CAD, USD/EUR, and USD/SGD asset backed, stablecoin automated markets, which will be added to the Telcoin Application as soon as those markets are live and reach viability. These initial “sending market” asset pairs will serve as the beachhead for our gradual addition of new pairs that cover remittance corridors to “receiving markets’’ as they become feasible.

Visit the SMS Network Staking Portal to stake your liquidity and #PayYourself when you send money home on Telcoin Application.

TELxchange is a user-owned, decentralized digital asset exchange powered by Telcoin users on supported DeFi protocols. TELxchange users on the Application can instantly swap for TELxchange assets direct from their bank account, retain custody of their assets at all times, and active Telcoin users capture 100% of pool trading fees. When the first TELxchange markets reach viability and are integrated into the Telcoin Application, users will be able to, directly from their bank accounts, swap for TEL and other TELx ecosystem assets.

As full-stack, user-owned financial platform built on a wide variety of tokenized networks, TELxchange’s token ecosystem includes the native tokens of each of the TELx DeFi protocols in order to enable TEL and native platform DeFi community to seamlessly swap between assets and participate across each network, governing and optimizing them to serve each network on its own.

TEL is used as the core SMS Network and TELxchange reserve asset and bridge currency, boosting the utility of our eponymous token by routing all token swaps through TEL. All cross-product volume will flow through TEL markets on DeFi, whether a stablecoin transfer or a swap for a non-TEL asset.

Visit the TELxchange Staking Portal to stake your LP Tokens and #PayYourself when you trade on the Telcoin Application.

Commencement of Telcoin Issuance

With the launch of TELx, formalized TEL issuance will begin distributing in line with the documentation newly located on the TELx website “About” section. As we launch each new component of the platform, issuance in that respective category will begin distributing to market participants who provide the service that issuance is incentivizing. More documentation regarding issuance will follow in the coming months, and will be posted on the Telcoin website.

To kick off TELx, we’re launching nine incentivized markets across two of these supported DeFi protocols on Polygon: Quickswap and DFX. Users who stake their LP tokens in the TELx portal will earn TEL, and, in some cases, will be eligible for double rewards — earning both TEL and the DeFi protocol’s native reward token.

Join us on YouTube tomorrow, July 1st, at 5 pm PST for an interview with Roc from Quickswap, followed by a joint community AMA. Hashtag #TELxQUICK with your questions on Twitter and in the Telcoin Community official chat on Telegram.

Incentives Launch Timeline

Date: July 7th

DeFi Protocol: Quickswap

Date: July 8th

DeFi Protocol: DFX on Polygon

Note: DFX will launch on the week of July 4th-9th, pairs are not live yet.


Navigate to TELx to learn more.

July and August (Tentative) Roadmap

The following are general targets for the gradual rollout of Telcoin V3 products and services and are subject to change and regional availability.

Thursday, July 1st at 5 pm PST

  • Interview with Parker and Roc from Quickswap on YouTube
  • Joint Telcoin and Quickswap AMA following the YouTube interview (Hashtag #TELxQUICK with questions on Twitter and Telegram)

Tuesday, July 6th at 2:30 pm PST

  • TELx walkthrough with Parker on YouTube
  • TELx AMA to follow (Hashtag #TELxAMA with questions on Twitter and Telegram)

Wednesday, July 7th

  • Staking portal live on TELx site and liquidity mining incentives begin for Quickswap TELx markets

Thursday, July 8th at 11 am PST

  • Interview with Parker and Kevin from DFX on YouTube
  • Joint Telcoin and DFX AMA following YouTube interview (Hashtag #TELxDFX with questions on Twitter and Telegram)

The week of July 19th-23rd

  • Interview with Parker and Hamzah Khan of Polygon on YouTube (date and time to be revealed soon)
  • Joint Telcoin and Polygon AMA to follow (Hashtag #TELxPolygon with questions on Twitter and Telegram)


  • When the first TELx markets reach “viability,” the next version of the Telcoin Application will go live along with the full scope of Telcoin Platform documentation on the main Telcoin website.