getting spread about token use in SMS? Im sure admins know what I am referring to. Be nice to have a screenshot we could use.
Not sure what the confusion is here. There are several scenarios shown on the website as indicated above (https://www.telx.network/about/how-does-sms-network-work) that explain this and clearly demonstrate how and where the token is used. These diagrams have been up for a while and viewable by anyone.
I just post a message where is very well (and simple) explained on my channel @telcoinnews Hope is not considered spam, not my intention.
I think some people's angst is that in the diagrams on the site. It shows no TEL usage for the Fiat to Fiat remittances ... which I think everyone is assuming that the majority of the individuals using the app would use..
Fiat to fiat is exactly that, there is no tel used, it’s what you could consider a more traditional way of doing things and what currently offer, we have made this clear from the start of TELx that no TEL is used via this method.
In the current fiat to fiat remittance flow tel is not used as it does not use any crypto hence fiat to fiat. We are yet to start crypto remittances which will utilise TEL as well as stable coins, you can read about it on the TELX website where it is explained thoroughly
Sam wrote in the discord channel that for an indonesian to receive a remittance in his local fiat there would have to be a stablecoin pool with indonesian rupee. I was under the impression that stable pools were for sending countries to exchange their fiat to usdc then to tel, and that the tel would be somehow redeemed in receiving country to local fiat through MMOs. If that's not the case, how can an Indonesian, as being part of an opened receiving country as we speak, translate his remittance transfer to everyday life ? Hope you can give some clarification about that without violating NDAs or whatever
So what happens for $tel price? Do you want to destroy $tel holders?
I don’t understand what you mean? Why would any of this destroy tel holders when it provides a load of utility to the token
Currently anyone in Canada or the USA can send a fiat remittance to Indonesia via the Telcoin app. Users of Link Aja, Ovo, Dana and Go pay can receive a fiat remittance directly into their mobile wallet. What Sam was talking about was the flow when we start using the SMS network. This has not been activated yet.
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