Governance System

Governance System

Collective-choice Rules: Overview

The following section provides a descriptive summary of the collective-choice rules, including Council Member Selection and Miner Council Decision-making Rules.

At collective-choice level of authority, or the level of governance in which the operational rules structuring everyday activities are set and refined, Miner Groups select Council Members to represent their interests on Miner Councils, and Miner Councils participate in decision-making processes that set and refine the operational rules for interacting with the Telcoin Platform(e.g. the rules for harvesting TEL) and in social processes(e.g. communication and information rules).

Overview

The following section provides an overview of the Telcoin Platform governance system collective-choice rules, which include the:

  • Council Member Selection Rules: The set of rules that structure Council Member selection processes: including election and liquid delegation ceremonies, Miner Group proposal, voting, and representation rights, the mechanisms used by Miner Groups to select representatives.
  • Miner Council Decision-making Rules: The rules that structure the processes by which Miner Councils determine the operational rules structuring day-to-day human and technological interactions within their domain of the system, includes TIP, TELIP, TANIP, TELxIP, CCIP processes.

    • Council Member Selection Rules: Voting and Representation Rules

    VotersEligibility RequirementsVoting RulesRepresentation Rules
    StakersAll registered Stakers on a Telcoin mobile app with a staked TEL balance at the time of the election or delegation proposal may vote.• Power: Staked TEL from Telcoin mobile app user wallets.
    • Approval: Plurality, the candidate(s) with the most votes win.
    • Quorum: 20%
    • Duration: 5 days
    • Channel: telcoinstakervote.eth    		• Platform Council: 2
    • Treasury Council: 1
    • TAN Council: 2
    • TELx Council: 1
    • Compliance Council: 1
    Developers

    		All registered Developers with a staked TEL balance at the time of the election or delegation proposal may vote.• Power: Staked TEL from authorized Developers wallets.
    • Approval: Plurality
    • Quorum: 20%
    • Duration: 5 days
    • Channel: telcoinappvote.eth    		• Platform Council: 2
    • Treasury Council: 1
    • TAN Council: 2
    • TELx Council: 1
    • Compliance Council: 1
    Liquidity MinersAnyone with a staked TELx LPT position at the time of an election or delegation proposal may vote.• Power: Staked TELx LPTs containing TEL tokens.
    • Approval: Plurality
    • Quorum: 20%
    • Duration: 5 days
    • Channel: telxvote.eth    		• Platform Council: 2
    • Treasury Council: 1
    • TAN Council: 1
    • TELx Council: 3
    • Compliance Council: 1
    Validators
    		All registered Validators may vote if they have a staked TEL balance for validation and there are 10 or more authorized, block producing nodes on Telcoin Network, or else the TAO will vote on their behalf.• Power: Staked TEL from authorized Validator vaults.
    • Approval: Plurality
    • Quorum: 20%
    • Duration: 5 days
    • Channel: telcoinvalidatorvote.eth    		• Platform Council: 2
    • Treasury Council: 1
    • TAN Council: 1
    • TELx Council: 1
    • Compliance Council: 1

    Council Member Selection Rules: Elections

    ElectionsRules
    DescriptionAnnual ceremony in which all four Miner Groups elect all Council Members.
    FrequencyEvery 12 months
    Duration7 days
    Nomination RulesCandidates submit only one nomination application to the Telcoin forum at most 1 month and at least 24 hours prior to the election.
    Proposal RulesTAO Members must submit election proposals for every Miner Council to every Miner Group including all eligible candidates from the past month.
    Voting RulesAll four Miner Groups elect all of their representatives into Council Members positions in five separate election proposals on each Group’s Snapshot.
    ApprovalPlurality, the candidate(s) with the most votes win.
    Quorum20%
    OutcomeThe candidates with the most votes win and are transferred Council Member governance NFTs, conferring them proposal, voting authority and a flow of TEL issuance. In the event a quorum is not reached on any given election proposal, the TAO will vote on behalf of the Miner Group until a quorum is met.

    Council Member Selection Rules: Liquid Delegations

    DelegationsRules
    DescriptionSpecial election ceremonies in which Miner Groups replace their existing Council Members with new representatives.
    FrequencyMiners may submit liquid delegation proposals anytime outside of an election window.
    Duration7 days
    Nomination RulesMust submit a nomination application to the Telcoin forum at most 6 months and at least 24 hours prior to the proposal.
    Proposal RulesA miner with 2% of their Group’s voting power or a TAO member submits at least two candidates to the Miner Group’s snapshot: a replacement candidate(s) from the forum and the existing Council Member.
    Voting RulesThe Miner Group votes for the Council Member(s).
    ApprovalPlurality, the candidate(s) with the most votes win.
    Quorum20%
    OutcomeThe candidate with the most votes either retains or is transferred a Council Member governance NFT, conferring them proposal, voting authority and a flow of TEL issuance.

    Miner Council Decision-making Rules

    CouncilsRepresentationProcess, Domain of AuthorityDecision-making Rules
    Platform Council Platform Council
    · Members: 8
    · Representation: Balanced across all four Miner Groups.    		Telcoin Improvement Proposal (TIP)

    Platform-wide rules
    including communication and information, compliance, legal and organizational rules.    		Proposal Authority: Platform, Treasury, Compliance Councils, TAO

    Approval: 6 out of 8
    Quorum: 100%
    Duration: 120 hours
    Channel: telcoinplatformcouncil.eth
    Platform Council, Treasury CouncilPlatform Council
    · Members: 8
    · Representation: Balanced across all four Miner Groups.

    Treasury Council
    · Members: 4
    · Representation: Balanced across all four Miner Groups.

    		TEL Improvement Proposal (TELIP)

    Platform-wide rules
    that involve the TEL Treasury, TEL token contract, Telcoin Network, the Telcoin Association Constitution, and governance infrastructure.    		1. Platform Council: Must approve before submitting to the Treasury Council

    Approval: 6 out of 8
    Quorum: 100%
    Duration: 120 hours
    Channel: telcoinplatformcouncil.eth

    2. Treasury Council: Must vote after the Platform Council has affirmed.

    Approval: 4 out of 4
    Quorum: 100%
    Duration: 72 hours
    Channel: telcointreasurycouncil.eth
    TAN CouncilTAN Council
    · Members: 6
    · Representation:
    Stakers: 2 reps
    Developers: 2 reps
    Liquidity Miners: 1 rep
    Validators: 1 rep
    		Telcoin Application Network Improvement Proposal (TANIP)

    TAN operational rules including allocation, harvesting, planning and financing, information, communication.    		Proposal Authority: TAN Council, TAO

    Approval: 5 out of 6
    Quorum: 100%
    Duration: 120 hours
    Channel: telcointancouncil.eth
    TELx CouncilTELx Council
    · Members: 6
    · Representation:
    Stakers: 1 rep
    Developers: 1 reps
    Liquidity Miners: 3 reps
    Validators: 1 rep
    		TELx Improvement Proposal (TELxIP)

    TELx operational rules including allocation, harvesting, planning and financing, information, communication.    		Proposal Authority: TELx Council, TAO

    Approval: 5 out of 6
    Quorum: 100%
    Duration: 120 hours
    Channel: telxcouncil.eth
    Compliance CouncilCompliance Council
    · Members: 4
    · Representation: Balanced across all four Miner Groups.
    		Compliance Improvement Proposal (CCIP)

    Authority
    • Veto authority over all Miner Council proposals
    • Compliance,
    • Legal and Organizational,
    • Conflict Resolution,
    • Actor Authorizations    		Proposal Authority: TAO, Compliance Council

    Approval: 3 out of 4
    Quorum: 75%
    Duration: 72 hours
    Channel: telcoincompliancecouncil.eth