Tellor (TRB) is a decentralized oracle network that allows for public, transparent, and permissionless querying and validating of off-chain data on Ethereum and multi-chain.
Designed to serve DeFi projects and smart contracts, Tellor operates with a competitive data reporting mechanism and on-chain governance system, while expanding with Tellor Layer based on Cosmos SDK to optimize multi-chain capabilities and reliability.
MAIN CONTENT
Tellor provides decentralized, permissionless oracles for dApps on Ethereum and multi-chain.
Tellor Layer expands the multi-chain oracle system based on Cosmos SDK with a cross-validation data mechanism.
The TRB Token is used for staking, priority tipping, network governance, and dispute resolution to increase transparency.
What is Tellor (TRB)?
Tellor is a decentralized oracle network that allows anyone to request, provide, and verify blockchain data, supporting dApps and DeFi on Ethereum. The operational model is based on a community of competitive 'reporters' submitting the most accurate data, independent of fixed intermediaries, ensuring fairness and security.
Tellor has expanded into the multi-chain ecosystem with Tellor Layer, building a dedicated blockchain on Cosmos SDK to meet the oracle needs of many other blockchain platforms.
Tellor products (TRB)
What is Tellor Oracle on Ethereum?
This is the core product of Tellor, operating decentralized on Ethereum, helping to retrieve accurate off-chain data for DeFi smart contracts. Users submit data requests along with TRB tips for priority, while miners compete to provide fast and accurate data. Data is recorded on the blockchain if there are no disputes, and the dispute process is handled through staking and counterarguments using TRB Tokens.
Tellor aims to become a bridge for truthful, permissionless data, serving a variety of DeFi protocols.
Brenda Loya – CEO & Co-Founder of Tellor, 2024
Key features include: allowing anyone to become a reporter, a reward-burn mechanism to promote incentives, already integrated into practical applications by major projects like UMA and DODO.
What is Tellor Layer?
Launched in September 2023, Tellor Layer is an independent blockchain built on Cosmos SDK and CometBFT, aimed at expanding oracles for the Cosmos ecosystem and IBC networks such as Osmosis or Injective. Validators on Tellor Layer perform independent cross-validation of data or cross-verification to enhance reliability. Data can then be transmitted through cross-chain to other blockchains.
Key features: easy integration with smart contracts via RPC and IBC, supports staking and transparent governance, meets multi-chain oracle needs, financial data, and AI in the future.
Key features of the Tellor project
Tellor operates a permissionless model, allowing everyone to participate in providing and validating data. The competitive data reporting mechanism promotes the provision of accurate metrics, along with an on-chain system for processing disputes and transparent governance. The cross-chain scalability through Tellor Layer helps serve various blockchains, creating a flexible and reliable oracle ecosystem.
Overview of the TRB Token and Tellor's Tokenomics
The TRB Token is an ERC-20 Token on Ethereum with a total supply of 2,757,886 TRB, and almost all of it is in circulation. TRB serves as a utility Token for staking, priority data tipping, burn to reduce inflation, and is also a governance Token that allows voting and dispute resolution on the network.
Detailed specifications Token Name Tellor Symbol TRB Chain Ethereum ERC-20 Yes Token Type Utility & Governance Consensus Proof of Work (PoW) Total Supply 2,757,886 TRB Circulating Supply 2,675,818 TRB
TRB Token is used in:
Staking to become a miner, participating in data validation.
Priority tip for data queries.
Burn a portion of the tip to limit inflation and maintain value.
Dispute incorrect data through on-chain dispute.
Participate in governance, vote for network upgrades.
Tellor development roadmap
Tellor has planned for multi-chain development and network performance upgrades, specifically:
Q1/2025: Expand multi-chain integration with Cosmos IBC, Osmosis, Injective, introduce SDK for Cosmos smart contracts.
Q2/2025: Launch Tellor Layer v2, process queries in parallel, reduce latency to under 30 seconds, optimize validator consensus.
Q3/2025: Expand integration with DeFi dApps, AI Oracle, develop customized data for financial indices and derivatives.
Q4/2025: Launch on-chain governance based on staking time, Bug Bounty program, and technology hackathon events.
Project team, Investors, and Partners
The Tellor project team
Tellor was founded by seasoned experts in blockchain, finance, and data. The team demonstrates a strong commitment to transparency and decentralization, playing a role in developing and maintaining the network.
Brenda Loya – CEO & Co-Founder: Former econometric expert, leading development strategy and designing an unpermissioned data mechanism.
Nicholas Fett – CTO & Co-Founder: Economist and software engineer, designing smart contracts and multi-chain oracle infrastructure.
Michael Zemrose – CSO & Co-Founder: Responsible for growth strategy, partner connections, and global market expansion.
Investors in Tellor
The project has received investment from reputable funds like Binance Labs (now Yzi Labs) and Framework Ventures, creating a strong resource base for sustainable development.
Strategic partner
Tellor supports oracle data for many DeFi protocols and Layer 1/Layer 2 blockchains.
Participate in hackathon programs and technology collaborations to expand the network, focusing on DeFi, prediction markets, and AI.
Tellor is committed to developing a decentralized oracle network that provides financial and blockchain technology applications with the most accurate and reliable data.
Nicholas Fett – CTO & Co-Founder of Tellor, 2024
Summary
Tellor stands out with an open operating model, a competitive data transparency mechanism, an efficient data verification community, and a team with rich experience. Although not as noisy as some major oracles, Tellor still has stable development and practical applications, chosen by many reputable DeFi projects as a data source.
This article aims to provide an overview and is not an investment recommendation. Readers should conduct thorough research before making decisions.
Frequently asked questions about Tellor (TRB)
What is Tellor? Tellor is a decentralized oracle network that allows off-chain data retrieval to serve smart contracts on Ethereum and various multi-chain platforms. What functions does the TRB Token serve? TRB is used for staking, priority data tipping, burn to combat inflation, participating in disputes, and network governance. How does Tellor Layer differ from Tellor Oracle on Ethereum? Tellor Layer is an independent blockchain on Cosmos SDK that expands multi-chain oracles with cross-validation data mechanisms, while Tellor Oracle operates directly on Ethereum. How can one become a reporter for Tellor? Anyone can participate as a miner (reporter) by staking TRB and providing accurate data as requested. Does Tellor have any reputable partners or investors? The project is supported by Binance Labs, Framework Ventures, and collaborates with many major projects in DeFi.
Source: https://tintucbitcoin.com/tellor-trb-la-gi/
Thank you for reading this article!
Please Like, Comment, and Follow TinTucBitcoin to stay updated with the latest news in the cryptocurrency market and not miss any important information!
