Hi Tellor Community, hope you are enjoying the summer wherever you are! Over the past quarter the Tellor team has been busy at work completing major initiatives including being listed on two major exchanges and releasing the whitepaper on the game-changing updates to our oracle, nicknamed TellorX.
The Next Gen Oracle Announced
The biggest news of the quarter was the June release of the TellorX whitepaper. This is a new direction for DeFi oracles that mixes new tokenomics, more decentralization and lower token minimums to broaden the members of our community who can be data reporters (and earn more TRB in the process!). TellorX will launch in the Fall 2021 after continued testing, an external audit and community approval.
Tellor Fellowship Launches
Tellor Fellowship is a secure oracle service that provides applications built on side chains or chains outside of Ethereum (e.g. Arbitrum, Polygon, etc.) with decentralized data. If you have a project that falls in this category and need a more secure oracle, read more on our GitHub here.
Liquity & Tellor Complete Integration
Decentralized borrowing protocol Liquity completed their integration to Tellor’s oracle price feeds. Liquity offers interest-free borrowing and a directly redeemable stablecoin, always at face value helped by Tellor’s decentralized price data. Liquity has over $1.4 billion in total value locked and offers users a way to borrow governance free and without intermediaries. A great case study for borrowing/lending projects that value an unstoppable oracle, read more about the partnership here.
In May, the Tellor team with the support of the Ampleforth team, submitted a Ampleforth Configuration Change Proposal (ACCP) to integrate Tellor’s oracle into the Ampleforth system. The status of the proposal is ongoing and we’re working closely with the Ampleforth team to fit their needs to a T and get this proposal implemented.
New Listings for Tellor’s TRB Token
Events & Media
Tellor sponsored EthGlobal’s Scaling Ethereum and HackMoney hackathons, one of the best ways new projects can not only test their ideas, but evangelize their products amongst the builders and developers in the ecosystem. Congrats to the several winning teams who participated. The best overall project we’d like to highlight here though is Exfil. We seek to support these projects/developers after the hackathon ends if they have mainnet ambitions, as is the case with Exfil, and we are excited to watch them make it a reality.
Tellor CTO, Nicholas Fett, hosted a Game of Chains panel discussion as part of REIMAGINE 2021. This insightful chat on interoperability risks also featured Brandon Iles (co-founder, Ampleforth), Robert Lauko (co-founder & CTO, Liquity), and David Goldberg ( Tech Lead, Synthetix). Check out the video here.
The DeFi Download Podcast featured Tellor CTO Nicholas Fett discussing the importance of decentralization when using off-chain data. Nick’s discussion with host Piers Ridyard also includes appropriately rewarding miners and having clear and transparent dispute mechanisms for bad data which adds increased security against malicious attacks.
Nick Fett, Tellor CTO, sat down with host Roshan Mirajkar from MouseBelt Labs to talk about Putting The Community Back In Crypto. This special panel covered the future of decentralized governance and includes real life stories of companies using oracles to create a better economy and also includes Robert Lauko, Founder and CEO at Liquity, and Steve Derezinski, CEO at Locally Owned.
At the beginning of Q2 we said goodbye to one of our developers, JG, as he left to pursue a new adventure. We used this moment to analyze the needs of the team and set out to find some new hires. We brought on Tim, our Integrations Lead, Sean, our Head of Marketing, and promoted our communities own, @spuddyminer, to Head of Community and last but not least we promoted Tally the Tellor Intern, to a full time developer position.
Looking forward to Q3
The focus for Q3 will be Tellor X along with a continued drive towards user integrations. After all, Tellor X represents a large increase in our oracle capabilities, our potential user base, and ability to encourage more participants in the network; with the addition of bytes data reporting, being a system we can deploy on multiple chains, and heavily lowering the barriers to entry to be a data reporter, respectively. In addition to the hires mentioned in this article, more hires are lined up for early Q3 in order to handle the execution of this massive team effort. Tellor is set up for great things in the 2nd half of 2021 — stay tuned.