Telis is raising

What are we building

At Telis, we've developed our own routes that remain delta-neutral using Math and use Mega ETH's low-latency blockspace to open hedges and settle trustlessly, all while keeping the overhead cost under 5 BPS, thanks to near 0 gas on mega eth.

Having our own routes lets us atomically process transactions on both chains.

The problem

For consumer apps

We believe that bridges suck; a new generation of consumer apps like perpetual DEXs, prediction markets, meme markets, ICO launchpads, agents, etc., can't use bridges to allow their users to perform actions from any other chain because of slow nature of bridges. Result: these consumer apps access liquidity only from the chain they're deployed on.

For users

Their internet capital-market exposure is decided by the chains/ecosystems on which they've decided to park funds. Result: an access-friction paradox where a user might want to use another app but doesn't want to onboard to a new ecosystem, hence losing plays on other chains.

More around this — https://x.com/telis_xyz/status/1987191757017391447?s=20

Our solution

TL;DR: Telis routes an intent from the source chain to the destination, fills the user on the destination, hedges the exposure on a perp DEX, and later reconciles vaults in the background. Perp DEXs are used in two places: (1) opening/adjusting the hedge at execution time and (2) assisting the rebalance close when we need to refill our on-chain vaults.

We run a delta-neutral strategy that ensures we're able to buy back the released funds irrespective of market shifts. This secures the LP money. So we keep bundling the trades until we have insufficient liquidity in our on-chain contracts and then rebalance.

For the exact trade flow see — Technical Architecture

Yes, we'll have to arrange liquidity for all the chains that we support but our architecture relies on native tokens for liquidity. Raising LP in native tokens won't be difficult for us because:

1. We promise a stable APY to LPs.
2. For tier-2–3 ecosystems, we can directly ask them for liquidity because we enable their chain's routes with all the other chains that we support. That's a premium for them because EVM↔non-EVM and EVM-L2↔non-EVM routes usually don't exist.

If you want to explore our architecture and model in depth, read info.telis.trade.

Demo Video

Watch demo on Loom →

Meet the team

What's built

We've been bootstrapping for 6 months. We have the working MVP with logic for all our services tested, contracts deployed, and DEX aggregators set up between Base and Solana. We've achieved p90 sub-second transactions using EOAs as vaults for proof of concept.

What's next

We're going to launch Telis along with Mega ETH on its day 1. We have all the official support from the team and the timeline we're looking at is mid-January.

The reason for doing it on Mega ETH is:

1. The right position to attract a lot of day-1 volume on our frontend plus SDK volume generated through integrations with consumer apps on Mega ETH. Mega ETH has a handful of good consumer apps like Euphoria, Valhalla, Noise and the right mindshare.
2. Our friendship with WCM — a Mega-native DEX with a unique risk engine. @wcm_inc on X

The reason we want to use WCM

1. Low latency: we achieved p90 80ms trade time and p60 50ms trade times, making it a whole 1 second faster than Hyperliquid (yes, HL takes 200 ms to open trades; here we're talking about overall latency of send + fill + confirmation).
2. ATLAS Risk engine: we'll run strategies to ensure a stable ~6-8% APY on our perp DEX float. Their risk engine sees delta-neutral setups as 0 exposure, meaning we can earn a stable APY and still be able to hedge our cross-chain positions.
3. They'll also contribute to make our rebalance more efficient and manage our risks better.
4. We've also been committed 0 taker fees for all our hedge orders.

So far the only inefficiency our architecture has is our perp-DEX float because maintaining this float is capitally inefficient and we drain funds on taker fees and funding rates. WCM will effectively make this net positive, meaning we can generate revenue even if we charge 0 fees for all the cross-chain transactions.

How much are we raising

Use of funds

• Time-sensitive window: Mega ETH mainnet is imminent; we must ship now.
• Build a senior engineering team to deliver production in weeks, not months.
• Commission a security audit pre-mainnet; stand up continuous monitoring + bug bounty.