TEL is Upgrading for Mainnet

TEL3 is the working name for the proposed upgraded version of the TEL token. It is intended to replace the current TEL token, sometimes referred to as TEL2, as the canonical TEL used across the Telcoin ecosystem.

The upgraded token will retain the TEL ticker, and holders will be able to upgrade on a one-for-one basis. The proposal does not change the number of TEL represented by a holder's balance.

The principal proposed changes are:

• Increasing TEL's divisibility from 2 decimal places to 18
• Deploying the upgraded TEL contract at the same address across Ethereum, Polygon, and Base
• Adding bridge-authorized mint and burn functionality for cross-chain supply management
• Supporting cleaner movement of TEL between supported networks
• Enabling TEL to function effectively as the native gas token of Telcoin Network
• Making TEL more compatible with standard EVM infrastructure used by wallets, exchanges, decentralized exchanges, custodians, lending markets, and other services

These changes are intended to reduce the custom engineering currently required to integrate TEL. They do not guarantee support or listing by any particular exchange, wallet, protocol, or custodian.

No. The upgraded token will retain the TEL ticker.

The upgraded token, sometimes referred to as TEL3, is intended to become the canonical TEL token going forward. The current token, sometimes referred to as TEL2, will be deprecated.

Because both versions may appear in wallets during the transition, holders should distinguish them using the token logo, network, and official contract address rather than relying on the ticker alone.

No. The upgrade does not change the amount of TEL represented by your balance.

During the initial 12-month upgrade window, each legacy TEL submitted through the official upgrade process will be exchanged for one upgraded TEL. For example, upgrading 10,000 legacy TEL will result in 10,000 upgraded TEL.

After month 12, the same one-for-one conversion rate will apply, but upgrades will be processed from a limited reserve on a first-come, first-served basis until month 24 or until the reserve is exhausted.

The upgrade is not a dilution or redenomination. The principal technical change is that the upgraded token uses 18 decimal places instead of 2, allowing TEL to be divided into smaller units. The underlying technical representation will change, but the human-readable amount received through the upgrade will remain equivalent.

The current TEL token can represent amounts as small as 0.01 TEL. The upgraded TEL token will be able to represent amounts as small as 0.000000000000000001 TEL.

This change does not increase the number of TEL tokens or alter the amount held by users. One TEL remains one TEL. It allows TEL to be divided into much smaller units.

That additional precision is important for gas pricing, DeFi calculations, smart-contract accounting, and cross-chain transfers. It is also a key step in preparing TEL to function effectively as the native gas token of Telcoin Network.

Eighteen decimals are widely used across the EVM ecosystem. Bringing TEL in line with that convention should make it easier for exchanges, wallets, protocols, custodians, and other infrastructure providers to integrate TEL using standard systems rather than custom decimal-handling logic.

There are only two TEL tokens being discussed, but they may be referred to by many names. The upgrade, new TEL, is technically the third version of the TEL token. Sometimes it's referred to as TEL3, upgraded TEL, and new TEL but it is the 18-decimal, multi-chain variant used as the native token on Telcoin Network.

TEL2 is the token that most users hold and has 2 decimals. It is the token that has been around for years and is deprecated. The logo will be updated to a grey color once TEL3 is available.

The current TEL token can represent amounts as small as 0.01 TEL. The upgraded TEL token will be able to represent amounts as small as 0.000000000000000001 TEL.

This change does not increase the number of TEL tokens or alter the amount held by users. One TEL remains one TEL. It allows TEL to be divided into much smaller units.

That additional precision is important for gas pricing, DeFi calculations, smart-contract accounting, and cross-chain transfers. It is also a key step in preparing TEL to function effectively as the native gas token of Telcoin Network.

Eighteen decimals are widely used across the EVM ecosystem. Bringing TEL in line with that convention should make it easier for exchanges, wallets, protocols, custodians, and other infrastructure providers to integrate TEL using standard systems rather than custom decimal-handling logic.

Yes. Under the proposal, the upgraded token becomes the canonical TEL going forward and the only version supported on Telcoin Network. The current token will be deprecated and will no longer be supported once the upgrade period closes.

There are two upgrade periods. The first 12 months are the primary window, during which every holder can upgrade on a one-for-one basis at any time. Holders are strongly encouraged to upgrade during this period. A 12-month extended window follows, during which one-for-one upgrades continue from the remaining reserve on a first-come, first-served basis.

The schedule described in the proposal is a suggested framework. The proposal empowers and requires the Compliance Council to finalize the formal upgrade policies, including the process for retrieving tokens after the window closes, and to implement them through a TELIP within nine months of the proposal’s approval. The final rules will therefore be published before any unminted TEL is minted. TEL3 reserves are secured under Compliance Council administration for future retrieval, and it is not moved to the TEL Treasury unless the Compliance Council determines through the TELIP process.

The simplest and most certain path is to upgrade during the first 12 months, when the full one-for-one upgrade is available to everyone.

You will have a total of 24 months from the opening of the upgrade contracts.

Months 1–12: Primary upgrade window

The full one-for-one upgrade process is available. Holders are strongly encouraged to upgrade all of their legacy TEL during this period.

Months 12–24: Extended upgrade window

At month 12, 50% of the remaining unminted upgrade reserve will be minted to the TEL Treasury. The remaining reserve will continue to support late upgrades on a first-come, first-served basis until month 24 or until the reserve is exhausted.

After month 24

Upgrade support will end. Any remaining reserve will be transferred to the TEL Treasury through the governed close-out process.

Treasury allocations are governed through the Telcoin Association's Platform and Treasury Councils under the TELIP process. Upgrading during the first 12 months provides the greatest certainty that all of your legacy TEL can be upgraded.

Yes. During the upgrade window, legacy TEL may continue to trade on venues that still support it, including centralized exchanges and decentralized exchanges that have not yet migrated their liquidity pools.

Under the proposal, legacy TEL and upgraded TEL may trade separately for a period while the ecosystem transitions. Over time, exchanges, liquidity pools, and other services are expected to migrate to the upgraded token, and liquidity for legacy TEL is likely to decrease.

Telcoin Network will only support the upgraded token. Legacy TEL will not be supported on Telcoin Network, regardless of where the upgrade window stands on other networks.

Holders who wish to use TEL on Telcoin Network or on platforms that have completed the transition will need to upgrade. Upgrading during the first 12 months provides the greatest certainty that all of your legacy TEL can be upgraded.

TEL is intended to serve as the native gas token of Telcoin Network. The current 2-decimal token architecture does not provide the level of precision needed for efficient gas pricing, cross-chain transfers, DeFi activity, and other high-volume network use cases.

Coordinating the token upgrade with mainnet launch allows the ecosystem to transition to the upgraded TEL architecture from the outset. Validators, bridges, exchanges, developers, wallets, custodians, and liquidity providers can prepare around a single, consistent token standard rather than integrating the existing architecture first and changing it later.

The intention is that the upgrade is available at launch to reduce future disruption, simplify adoption, and ensure that TEL is properly configured for its role at the foundation of Telcoin Network. That way Telcoin Network protocol only has to support the upgraded token.

Holders will upgrade through the official Telcoin Association token upgrade page.

The process is expected to be:

• Navigate to the official Telcoin Association token upgrade portal.
• Connect the EVM-compatible wallet currently holding your legacy TEL.
• Confirm that you are connected to the correct network - all current networks that support TEL will be supported (no bridging required).
• Approve the official upgrade contract to transfer your legacy TEL.
• Confirm the upgrade.
• Receive the equivalent amount of upgraded TEL in the same upgrade transaction, on the same chain where you already hold TEL, without bridging it to another network first, and in the same wallet.

The upgrade is one-way. Once legacy TEL has been upgraded, it cannot be converted back through the upgrade contract.

The Telcoin Association will publish the official upgrade page and verified contract addresses before the process begins. Holders should not use links received through unsolicited messages or unofficial channels. Wallets supported are planned to include all EVM-compatible wallets and the Telcoin Wallet.

Holders will be able to upgrade from any self-custodial, EVM-compatible wallet that:

• Holds their legacy TEL
• Supports the network where their TEL is held
• Can connect to the official Telcoin Association upgrade page

This may include browser wallets, mobile wallets, and supported hardware wallets.

Holders will need the native gas token of the relevant network to complete the transaction. For example, ETH is required for gas on Ethereum and Base, while POL is required on Polygon.

No separate upgrade fee is proposed, although normal network gas fees will apply.

If a holder's TEL is held on a centralized exchange or another custodial platform, users should not attempt to use the upgrade page directly. The Telcoin Association, through TAO, will coordinate with major exchanges and custodial providers to support the transition, but each provider will determine its own process and timeline.

Holders should follow the instructions published by their provider. Where a provider does not support the upgrade, users may need to withdraw their TEL to a supported self-custodial wallet before the provider's stated deadline and complete the upgrade directly.

Yes. Both staked and unstaked TEL held in the Telcoin app will be able to be upgraded to TEL3.

Under the hood, the migration contract supports migrating staked and unstaked TEL in a single function call. If you hold unstaked TEL, an approval step is required beforehand, meaning up to two steps in total. If you only hold staked TEL, migration can be completed in a single step.

The exact in-app experience (buttons, flow, confirmations) is still being finalized. This answer will be updated once the process is confirmed.

No. Holders will be able to upgrade their TEL on the network where they already hold it.

Upgrade contracts are planned for:

• Ethereum
• Polygon
• Base

For example, if an individual holds legacy TEL on Polygon, they will be able to upgrade it on Polygon without first bridging it to Ethereum or Telcoin Network.

Holders must use only the official Telcoin Association upgrade page and confirm that their wallet is connected to the correct network before approving the transaction.

No. The upgrade processes your entire TEL2 balance in a single transaction. Partial upgrades are not supported.

No. The self-custody upgrade through the official Telcoin Association upgrade page is not proposed to require KYC.

If your TEL is held on a centralized exchange or another custodial platform, that provider may apply its own identity or compliance requirements separate from the upgrade process.

You will need to unstake your legacy TEL before processing your upgrade transaction. If you are providing liquidity, you will need to close your liquidity positions so that your TEL is in your wallet before processing your upgrade transaction. You will then have the opportunity to rejoin the liquidity pool that supports the upgraded token, or restake your TEL in the Telcoin Wallet.

For liquidity providers, this will be discussed in more detail on the TELx council calls and through additional documentation.

Legacy TEL will display a gray logo, while the upgraded TEL will retain the familiar blue logo.

TEL2 (Legacy)

TEL3 (Upgraded)

The logo is a useful visual cue, but holders should always verify the token using its official contract address and confirm that they are connected to the correct network. Wallet logos and token information may not update immediately.

The official contract addresses will be announced once they're available.

The Telcoin Association will publish and verify these addresses across its official channels before the upgrade begins. Do not rely on contract addresses provided through unsolicited messages, advertisements, or unofficial upgrade links.

TELIP16: The TEL Token Upgrade is the Council process that authorizes the technical upgrade of TEL (contracts, upgrade window policy framework, and related work). It was affirmed through the Platform and Treasury Councils, subject to the Compliance Council process.

The TGIP amends the Preamble of the Telcoin Association Constitution so the founding document names the upgraded TEL contract address once it is deployed. Under Article 12.1, amending the Statutes is an inalienable power of the Miner Assembly — Councils cannot decide that part alone.

The TGIP does not by itself change the upgrade window, recovery schedule, or staking rules. Those remain governed by their own processes.

Read more on the Telcoin Forum: https://forum.telcoin.org/t/telip-the-tel-token-upgrade/847

The upgraded TEL contract has not yet been deployed. [TEL_V3_ADDRESS] is a placeholder used in draft constitutional wording and will be replaced with the deployed address and deployment record before that proposal is finalized.

Holders should only trust contract addresses published through official Telcoin Association channels. Do not rely on addresses from unsolicited messages, advertisements, or unofficial upgrade links.

Legacy TEL on Ethereum is identified today at 0x467Bccd9d29f223BcE8043b84E8C8B282827790F, with corresponding legacy deployments on other networks. After the amendment takes effect, those are referred to as legacy TEL for Statute purposes, while holders retain the right to upgrade 1:1 through official upgrade contracts under TELIP16 and Compliance Council policies.

Follow official announcements on the Telcoin Forum: https://forum.telcoin.org/