Ask Me Anything with Teleport Network on ICOSpeaks: AMA Summary
Summary: Teleport Network hosted an AMA session on ICOSpeaks to explain its cross-chain infrastructure, TELE token utility, tokenomics, and future roadmap. Below is a full recap.
On May 18, the Teleport Network team joined the
ICOSpeaks Telegram community
for an Ask Me Anything (AMA) session.
During the event, the team introduced their technology, explained how cross-chain interoperability works, and answered community questions about scalability, tokenomics, and governance.
Meet the Teleport Network Team
👨💻 Cooper P — Developer Community Lead (@cooperp12)
👨💻 AK — Developer Community Lead (@Tha_Commodore)
Hello everyone. I’m Cooper, and I’m joined by AK. Together, we lead the developer community at Teleport Network. We’re excited to discuss our project with the ICOSpeaks community today.
Let’s get started.
What Is Teleport Network?
Q: Could you give us a brief overview of Teleport Network?
A: Teleport Network provides infrastructure for cross-chain interoperability.
It includes:
- An EVM-compatible blockchain built on Ethermint
- A cross-chain messaging protocol called XIBC
- An omni-chain wallet
- Developer SDKs for cross-chain dApps
As a result, Teleport acts as a relay chain. It enables token transfers, NFT purchases, and smart contract interactions between different blockchains.
What Is XIBC?
Q: What is XIBC?
A: XIBC is a cross-chain messaging protocol based on IBC.
While standard IBC cannot support chains without fast finality, XIBC solves this limitation. It supports multiple blockchain architectures, including Bitcoin, EVM chains, Cosmos, and Polkadot.
Therefore, XIBC allows Teleport to connect chains with very different technical structures.
Teleport Team Background
Q: What is the background of the Teleport Network team?
A: The Teleport team includes experienced blockchain developers.
Team members previously worked at companies such as Nokia, Hewlett-Packard, and Binance. Combined, they bring over 14 years of blockchain development experience.
In addition, Teleport receives incubation support from Funtaro Labs.
Why Launch a New Blockchain?
Q: Why did you decide to launch a new blockchain?
A: Launching a new chain allows Teleport to operate as a relay between blockchains that do not share the same protocol.
Unlike traditional solutions, Teleport does not require proprietary bridges. Instead, XIBC provides a unified framework for cross-chain communication.
As a result, developers gain access to global liquidity without building separate bridge systems.
In addition, the team answered questions about security, audits, and long-term development.
For example, developers can build dApps that interact with multiple blockchains at once.
At the same time, Teleport focuses on reducing costs for cross-chain transactions.
Overall, the AMA session provided a clear overview of Teleport’s technology and vision.
TELE Token Utility and Tokenomics
Q: What are the main functions of the TELE token?
A: The TELE token plays a central role in the Teleport ecosystem.
It serves five key purposes:
- Transaction gas fees
- Validator staking
- On-chain governance voting
- Delegation rewards
- Liquidity incentives
The total supply is capped at 1 billion TELE tokens.
The DAO controls token issuance, which follows a 72-month release schedule.
TELE Token Distribution
- Governance rewards — 40%
- DAO treasury — 40%
- Investors — 6%
- Validators — 6%
- Airdrop — 3%
- Marketing & Operations — 5%
How Teleport Improves Scalability
Q: How does Teleport address blockchain scalability?
A: Teleport improves scalability through two main approaches.
First, it uses light clients and TSS for EVM chains and Solana. This approach reduces costs while maintaining security.
Second, Teleport acts as a relay chain. Once a blockchain connects to Teleport, it can communicate with all other connected chains.
As a result, developers no longer need to build new bridges for each integration.
Security and Smart Contract Audits
Q: Has Teleport completed a smart contract audit?
A: Yes. Teleport completed a third-party audit conducted by BlockSec.
BlockSec is a well-known auditor trusted by projects such as Bybit, Near Protocol, and Crypto.com.
Roadmap and Future Plans
Q: What are your next priorities?
A: Teleport plans to launch its mainnet in late July or early August.
In addition, the team will introduce:
- Developer grants
- An ecosystem fund backed by top VCs
- An ambassador program
- Bug bounty and validator incentive programs
These initiatives aim to attract developers and expand the ecosystem.
Final Thoughts
ICOSpeaks successfully hosted an AMA session with the Teleport Network team.
Thank you to everyone who participated and asked questions.
Stay tuned for upcoming AMA sessions on ICOSpeaks.
Want to explore more?
Check out other AMA sessions on ICOSpeaks.
