It’s that time again! Here’s your Quarterly Update, reviewing all that happened in Q3 and looking forward.
Q3 2020 was all about acceleration for Tellor and in our minds felt like we had turned another big corner as a project. We had our busiest quarter in terms of tech developments, event sponsorships, speaking gigs/interviews, and exchange listings. And this quarter also saw the Tellor team expand with our first hires.
So, what did Tellor do in Q3? Let’s get into it, but first some quick stats:
Q3 Community Stats
Twitter followers: 9335 (+124% from Q2)
*Telegram members: 4850 (+62% from Q2)*
Tech Updates
This quarter was all about shipping V2. In essence V2 brought more usability, throughput, and robustness to our oracle protocol, allowing us to push more data on-chain, faster, and more securely. Here’s the TLDR:
Scalability:
- Increase number of data points added per block to 5
- Increase speed 2x(Reduce the 10 min difficulty target to 5 min)
Security:
- Limiting Rewards per Miner (1 per 15 minutes)
- No Time Limit on Disputes
- Multiple Round Disputes
- Change to disputing cost calculation (official values are more costly to dispute)
- Allow Tips of Current ID Being Mined
Others:
- General code improvements
- Automatic selection of next challenge
- Removal of Onchain Request Data
- Token Fee Burning
For a more in-depth look into the V2 changes, read our: V2 article
New Website and Documentation
Along with V2 came a fresh new look for Tellor’s web presence. Tellor.io is all-new!
Additionally we rewrote and migrated our whitepaper and documentation to a new platform. The new format is easier to follow, and has something for everyone, whether you are new to Tellor, a developer, miner, or token holder.
Content By Tellor
How To Be A Holder
Our vision for Tellor heavily involves the community and their involvement in the future upgrades of the project. So it is important for us to help you guys get more involved. If you find yourself asking yourself, “What can I do?” or “How can I help?” Our How to be a Holder article is for you.
Tellor Price Feed and Dispute Center Walkthrough
At the beginning of Q2 we launched a front end interface for monitoring and interacting with Tellor’s oracle data, and mining events — The Tellor Data feed and Dispute Center. This is where users can tip specific data types for updates as well as initiate and vote on disputes as part of our token governance protocol. We wrote an article describing how to take part in these features: Tellor Price feed and Dispute Center
Exchange Listings
We’ll surely miss the in-chat calls for “moar exchanges”, and our most favorite question of all, “wen binance?” As these will no longer be necessary, due to the fact that in Q3 we saw Tellor TRB get listed on many of cryptos preeminent exchanges, Binance, Huobi, Okex, and more. With that came a meteoric rise in our price, and subsequent correction, but it also brought a big rise in our community numbers. Here at Tellor HQ, as most of you have come to know, we never put too much weight on these listings, preferring the DEX route, and those protocols have served our project and community well, so big shout out to them.
New Hires – The Tellor Team Is Expanding!
With our growing success comes the need to grow our capacity as a team. For the longest time we handled it all as just a 3 person founding team. But no longer! We’ve recently welcomed our first developer hire, JG, and are have chosen and now in the process of onboarding 2 more full-time hires in the next couple weeks.
Tellor in the Wild
Our strategy starting Q3 was all about getting the word out about Tellor in the most long lasting and effective ways without having to get mixed up in the crypto-marketing games we don’t play. We are proud of how much more we’ve been able to accomplish in this regard over the past 3 months.
Lets take a look at some of the highlights of Tellor getting out in the wilds of the cryptospace:
San Francisco Blockchain Week — Unitize Hackathon
Gitcoin graciously accepted us as a sponsor for the hackathon in partnership with Unitize 2020. Tellor paid out a couple grand worth of prizes to hackers building projects utilizing Tellor’s oracle. We are still keeping an eye out on these projects as they grow and supporting them as much as we can.
# FutureProof — a summit by Dystopia Labs
Can Crypto secure an uncertain future by putting people first? This was the main topic explored at another very good summit put on by Dystopia Labs. Tellor was honored to sponsor event and our CTO, Nick Fett presented on the topic of Inflationary Rewards in PoW Systems
RIF Expert Panel
The RSK Infrastructure Framework team hosted an expert panel On July 6th on the topic of oracles: what are they and why do we need them? Here is the transcript for the event and video.
CoinDesk Article on Oracles
CoinDesk is the premier crypto publication in the space, and as far as we know, Tellor had yet to be mentioned on CoinDesk until recently. Our CSO, Michael Zemrose had the pleasure to be interviewed for an article on the First Movers in the oracle space.
TomoChain Event on Defining DeFi
Continuing our mission to grow our thought leadership in the space and share our voice in the larger conversations, Nick was happy to participate as a panel expert on the path forward for DeFi Adoption.
CoinGecko Podcast
If you didn’t know that the guys at CoinGecko do a podcast, well, you should! In this episode, Bobby Ong, co-founder of CoinGecko is joined by Nick Fett, CTO at Tellor and Michael Zemrose, CSO of Tellor. Bobby interviewed Nick and Michael on the Tellor, how it works, the utility behind Tellor Tributes, as well as Tellor’s upgrades in V2.
DeFi Slate x Nick Fett: Oracles, Tellor, and the Future of DeFi
Andy of DeFi Slate and Tellor CTO, Nick Fett sat down for a chat on DeFi. They discussed the concepts of DeFi, the future of Oracles and Tellor, and more! Check it out.
CoinMarketCap Oracles in DeFi 101: A Deep Dive by Tellor
CMC has created a new place for crypto educational content called Alexandria, a call back to the famous and ancient Library Of Alexandria. Our CEO, Brenda Loya, was asked to write the first piece on oracles for the publication. Check it out!
Looking Forward to Q4
At the dawn of Q4, Tellor will be kicking things off with a bang. Including the involvement and sponsorship of EthGobal’s ETHonline Hackathon and Summit for the entire month of October. With the cancellation of Devcon this year, a huge hole was left, but EthGlobal is seeking to fill that gap by putting on a very ambitious event.
Also coming out in the early stages of Q4 will be Tellor V2.5. The key features of this upgrade will be a reduction of the miner stake and a change in how mining rewards are calculated that will properly incentivize consistent data updates even in high gas periods.
The special thing to note about Tellor 2.5 is that this will be our first governance proposed upgrade! Tellor will be destroying our admin key and all upgrades to the protocol from that point forward will be in the hands of the token holders. This was always our vision and it’s exciting to be on the precipice of reaching that point.
Thanks for sticking with us, plenty more to come! Here’s to a strong Q4 for Tellor!
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