The first quarter of 2021 really battle tested the Tellor team and community. From developing and announcing an exciting new product, to forking our token due to a fatal bug, we’ve had quite the ride these last couple months. But it’s not the highs and the lows that define you, it’s what you do in between. We’ve learned the invaluable lessons that problems offer and have gained wisdom that only comes from one thing: experience. We’ve reinforced our commitment to security, and reinvigorated our dedication to building an oracle network that’s unstoppable. And through it all we never stopped building and growing the “We” in We Are Tellor.
Now let’s dive into your Q1 update!
Q1 2021 Community Social Stats
Twitter followers: 16,735 (+42%)
Telegram members: 5,999 (+14%)
Discord members: 3,030 (+14.5%)
Blockfolio followers: 7,871 (+33%)
Youtube Subscribers: 478 (+23%)
Although still stuck in the everlong virtual conference conundrum that COVID19 has provided us, Tellor’s Core team kept its faces in the limelight with both CEO Brenda Loya and CTO Nick Fett speaking at ETH Denver & Re-Imagine 2021. Ryan even got his hands dirty with his first AMA!
Another exciting moment to kick off 2021 was the launching of our community currency project, Chorus. Chorus is a semi-stablecoin protocol giving users the ability to white-label their very own community currency with customizable attributes such as interest rate, collateralization ratio and even the collateral itself. To read the whitepaper and learn more visit https://chorus.tellor.io/.
Chorus is the first of hopefully many vertical products built on top of Tellor’s oracle feed. While the code is out and open to use, we are still in the process of building out a front-end to help usher a seamless user experience. Additionally we’ve awarded out a grant to the first Chorus user, a project called “Locally Owned”. Stay tuned!
Tellor has been working behind the scenes with a number of projects and are looking forward to sharing more details about some of them soon. One we’ve mentioned on our community calls is Liquity, a decentralized borrowing protocol, launching on April 5th, who will be using Tellor as a fallback oracle. Stay tuned for more information, and if you haven’t heard of them yet, give them a look.
At the end of January, we passed through TIP 6 for an upgrade to v2.6 which aimed to address an issue we were watching with the 5th slot submission for the miners. While the upgrade went smoothly, the problem we were addressing still seemed to have issues which we discovered to be correlated to a rounding mechanism that was lingering from Tellor V1. The discovery of this led us to a hotfix v2.6.1, which ultimately led us into the Tellor fork and migration we’re sure you all are familiar with.
Hackathons & Winners
Strong start in the Hackathon game with both the 12 week Encode Club and ETH Denver. We saw some really great projects implementing Tellor in both realistic and creative ways. We continue to believe these Hackathons are a multi-thronged approach for Tellor’s strategy as it not only keeps our name fresh in the minds of the upcoming ETH BUIDLers community, but also provides us invaluable insight into understanding how approachable Tellor is for both new and experienced developers. We are always looking to improve and these Hackathons provide very valuable data for us. We plan to keep in close contact with our finalists as they continue their journey and share insights as we navigate the seas together.
New Family Member
Last, but certainly not least, we added a new member to the Tellor team, Ben! Ben will be “fronting” the front-end (sorry) and design journey for Tellor as we aim to upgrade Tellor’s usability and aesthetic consistency for the masses. Ben has already been an integral piece in designing Tellor’s current website as well as the Chorus website. TellorScan will be the next focus so keep an eye out for development there.
Looking Forward to Q2
With the migration behind us, and a bit of newly earned resolve, we are charging full steam ahead into Q2. As such we are looking to expand our team by 3 members this quarter in support of our goals for 2021. You can look forward to our launch of The Fellowship, and Chorus, and new projects using Tellor. Additionally we hope to give you guys a sneak peak at our plans for the next generation oracle, codename Tellor X.