From here on, all of the Telcoin users will be in the position of staking the Telcoin (TEL) token. They will also have the opportunity to refer new users to connect with the app. In the bargain, they will receive up to 42% of the trading fees accrued by the referred user. However, this entire process that has been made available for the benefit of the users in being able to not only stake TEL but also earn through referrals will indeed be a first time and in the direction of providing a self-sustainable and decentralized platform. All of this will put any mobile phone user, just about anywhere, in a position to take direct advantage of the utilization of financial services they make daily.
In this case scenario, the staked tokens and all of the assets on the Telcoin app will be duly held in a Telcoin wallet, thus providing further preventive measures. In the case of the referral fees earned in the due process by the users, they will be based on real-time transactions paid through real-time fees for connecting with real DeFi products readily available on the platform.
Furthermore,through this procedure, stakers can increase their earnings by pushing in more fresh users towards the platform, turning the deal into something more profitable. The entire idea is to offer the users further rewarding opportunities against the services they are already utilizing.
TEL believes self-custodial Defi is the only possible path to a certain and proper blockchain industry. However, many companies have collapsed in the past year because of the risky bets made with user assets. Telcoin’s stake provides a more realistic platform for staking, where users get rewards for successfully carrying out their services.