Dear Telcoin community,
We are planning a major update at the end of the month, but I wanted to give everyone a brief interim update on progress as the new team is ramping up and also launching our initial corridor. Spirits are much higher now, and I am really proud of how the team has handled everything. In addition to our initial release, a lot of current efforts are organizational to make us function better as well as laying the groundwork for the sort of revolutionary offerings that we want to release in 2021.
We are targeting some big milestones for August and September, and expect to meet them, but I also want to reiterate my goal that by the start of Q4 we will have the ability moving forward to regularly set very clear targets and meet (if not beat) them. I am also working to establish greater internal and external communication and transparency.
Please feel free to reach out to our community managers with any questions, so that we can make sure to address as many concerns as possible in our next update.
Thank you as always for your continued support — exciting times ahead!
Respectfully,
Paul Neuner, Telcoin
Canada-Philippines beta testing update
We’re pleased to report that beta testing for the Canada-Philippines corridor is proceeding as planned, despite the major recent personnel changes, and we’re on track for an external TestFlight release on iOS by the end of August. Following external TestFlight release, we will focus on compliance reporting setup and audit in September, with a release to the general public to follow — targeting late September or early October, pending audit results. We also expect to be able to proceed with additional corridors and partner integrations from September. Everyone on the team is extremely impressed by the new technical team’s efforts, led by Will. We look forward to sharing more on the technical front soon.
Telcoin is pleased to welcome two new team members
Rick Schendel is the new VP of Banking Operations for Telcoin and brings 25 years of experience in the derivatives industry, specializing in FX and futures. Rick’s past accomplishments include managing the trading desk for a quantitative hedge fund with US$1 billion assets under management (AUM). While at Mesirow Financial for almost 20 years, he helped institutional clients manage their currency risk, grow AUM to US$60 billion, and developed bespoke software to manage the execution and back-office operations. Rick holds a B.B. in Economics from Western Illinois University along with Series 3, 7, and 66 licenses.
Addyson Riddle, based in Berlin, Germany, joins the Telcoin team as Social Media Manager. After graduating from The University of Missouri, Kansas City, she spent three years in sales and advertising. Having gained experience from her time at Xerox, Mortgage Lenders of America (now Zillow Mortgages), and Halo Branded Solutions, she brings deep knowledge in the areas of consumer behavior, branding, and social media marketing. She is currently seeking her Masters in International Marketing Management, majoring in Brand Management, at IUBH in Berlin. She sees a bright future for the increased presence of Telcoin across all social media platforms.
We’re (still) hiring!
Telcoin is still actively recruiting for open positions in Los Angeles and Singapore. Check out our latest job postings and be sure to share them with anyone you think might be a fit for joining the Telcoin team. Interested candidates can email parker@telco.in for more information, or simply apply at the links below.
Android Engineer
Location: Los Angeles, CA
LinkedIn
Indeed
Blockchain DevOps Engineer
Location: Los Angeles, CA
LinkedIn
Indeed
Compliance Officer
Location: Singapore
LinkedIn
Indeed
Telcoin’s Instagram account is now live
As we edge closer to opening our first remittance corridor, we will be improving our external communication and increasing visibility across our social media channels. You can expect to see a lot more content that will feature both updates and highlights on the work we are doing, as well as reinforces our core mission objectives and sheds light on why our new approach to remittances is so important in today’s financial climate.
Please be sure to follow us on all our official social media accounts to be kept up to date with our future progress:
DEX update
Last week we announced the first phase of Telcoin’s DEX roadmap: create new markets and teach TEL holders how to use them. We immediately dove in by launching the TEL/ETH Uniswap pool and TEL/USDC Uniswap pool along with a guide that explains what Uniswap is, why it is useful, and how to use it.
If you haven’t had a chance to review, please refer to Diving into DeFi Volume 2: DEXes for a primer and Telcoin x Uniswap to get started.
TEL x Uniswap: Diving into the data
If you haven’t been paying attention, the first stage of the Uniswap launch has been a resounding success: breaking trading volume records across the board and a huge increase in liquidity.
Volume
TEL daily trading volume increased an astounding 716% over the past week from US$59,231.58 on August 6 to US$483,545.86 today. Over the past month, daily TEL trading volume increased 893.03% from US$48,494.08 on July 13.
Notably, the one year volume record, previously set at US$414,154.85 on April 30, was shattered, skyrocketing to US$973,255.86 — a level that hasn’t been seen since October of 2018.
To put this all in perspective, the average daily TEL trading volume over the past week, US$475,114.59, is higher than any single day in the last ~15 months!
Liquidity
In the past 30 days, the total liquidity in Uniswap TEL pools increased from a few hundred dollars to over US$62,300 today, and is up about 10x since last week’s announcement!
Telcoin x DEXes: Useful tools
We understand that pooling, swapping, and calculating returns can be daunting for some. On one hand, this dynamic offers savvy crypto natives asymmetric opportunities to put their money to work and profit from creating more efficient markets. On the other hand, we want all TEL holders to be able to easily participate in the total spectrum of the global TEL marketplace.
We firmly believe that trimming down and simplifying all of the complexities of DeFi into an easy to use, one-click interface — within a user friendly mobile application — will create more efficient, liquid, and open TEL markets with more opportunities for everyone.
We will be releasing more on this later.
In the meantime, here are a few tools you may find useful:
Project: Uniswap ROI
Description: Manage your Uniswap liquidity, track your returns, and find the best pools on www.uniswaproi.com by Federico Nitidi.
How to use it:
- Navigate to www.uniswaproi.com/#.
- Click on “Get Started.”
- Create a unique user ID & password.
- If you have already added liquidity to a TEL Uniswap pool, simply enter your address, click “Analyze ROI” on the “Home” tab, and your pools will show up.
- If you haven’t provided liquidity yet, feel free to search for TEL (it was recently listed) on the “Pools” tab in the “Search pool” box at the top right to view the current TEL pool on Uniswap.
Project: Uniswap Liquidity Provider (LP) Returns Calculator
Description: Calculate future LP returns by inputting your own price and volume projections by Telcoin.
How to use it:
- Navigate to https://docs.google.com/spreadsheets/d/1RzIewSq-F-CFSG-LIFslU51WpBn8wOSSh0kil76UE78/edit?usp=sharing.
- Copy the sheet.
- Insert your own TEL price and volume projections.
Project: Pools fyi
Description: Find the best liquidity pools & connect to track and manage your pools.
How to use it (LPs):
- Navigate to www.pools.fyi/#/.
- If you are an LP, click “Connect” in the top right corner.
- Connect your Metamask or other web3 wallet.
- Click on your wallet address in the top right corner.
How to use it (not an LP yet):
- Navigate to www.pools.fyi//#/.
- Search TEL in the top middle search bar & click on the pool you would like to review.
TEL x DEX: Next steps
We will release each phase of the Telcoin DEX roadmap periodically, in stages, and at the time of launch. These first two Uniswap markets are the very tip of the iceberg of what we are bringing to market over the coming weeks and months, and we are incredibly excited to share more with you over time.
