Governance System
Governance System
Election Rules
Elections are annual ceremonies in which the Miner Groups elect all of their representatives on Miner Councils. The following section describes the rules which structure election ceremonies.
Election Rules: Overview
Each year, all four Miner Groups elect a new set of Council Members to represent their interests on Miner Councils. Voting and representation rules are the same for both delegation and election ceremonies.
| Elections | Rules |
|---|---|
| Description | Annual ceremony in which all four Miner Groups elect all Council Members. |
| Frequency | Every 12 months |
| Duration | 7 days |
| Nomination Rules | Candidates submit only one nomination application to the Telcoin forum at most 1 month and at least 24 hours prior to the election. |
| Proposal Rules | TAO Members must submit election proposals for every Miner Council to every Miner Group including all eligible candidates from the past month. |
| Voting Rules | All four Miner Groups elect all of their representatives into Council Members positions in five separate election proposals on each Group’s Snapshot. |
| Approval | Plurality, the candidate(s) with the most votes win. |
| Quorum | 20% |
| Outcome | The 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. |
Elections: Ceremony Rules
- Outcomes
- Quorum is met: After 7 days, the elected Council Members with the most votes from their constituency will be transferred the governance NFT conferring them authority and an ongoing stream of TEL issuance to their wallet.
- Quorum is not met: In the event a Miner Group fails to reach a quorum, the Telcoin Foundation will substitute and vote on behalf of the Miner Group in the Council Member position.
Elections: Nomination Rules
Individual miners nominate themselves to the Telcoin forum to be proposed in an election for a position on a Miner Council.
| Candidates | Required Attributes | Required Actions | Nominations Channel |
|---|---|---|---|
| Platform Council | All miners are eligible subject to the following conditions. | Must submit a fully complete nomination application to the Platform Council nominations channel on the Telcoin forum at most 1 month and at least 24 hours prior to an election. | Nominations: Platform Council |
| Treasury Council | All miners are eligible subject to the following conditions. | Must submit a fully complete nomination application to the Treasury Council nominations channel on the Telcoin forum at most 1 month and at least 24 hours prior to an election. | Nominations: Treasury Council |
| Compliance Council | All miners with a juris doctorate degree are eligible subject to the following conditions. | Must submit a fully complete nomination application to the Compliance Council nominations channel on the Telcoin forum at most 1 month and at least 24 hours prior to an election. | Nominations: Compliance Council |
| TAN Council | All miners are eligible subject to the following conditions. | Must submit a fully complete nomination application to the TAN Council nominations channel on the Telcoin forum at most 1 month and at least 24 hours prior to an election. | Nominations: TAN Council |
| TELx Council | All miners are eligible subject to the following conditions. | Must submit a fully complete nomination application to the TELx Council nominations channel on the Telcoin forum at most 1 month and at least 24 hours prior to an election. | Nominations: TELx Council |
Nominations: Required Actions
All eligible candidates must submit a nomination application containing the following information at most 1 month prior to an election and at least 24 hours prior to an election in order to be submitted in an election proposal.
- Miner Group: The Miner Group who they are representing (can only choose one during each election),
- Seat: the position they are running for (can only choose one during each election),
- Wallet Address: Wallet address used to be used in Council member voting.
- Introduction: Candidate must introduce themselves including their name and country, how they found out about Telcoin, what experience they have as a miner, why they should be selected, what skills and credentials they possess, and what they can contribute to the role in terms of time and ideas.
- Social Media: Telcoin Discord user name, twitter account.
- Council Nomination Application: Responses to the nomination application for that position as determined by the constituent miner group.
Elections: Proposal Rules
Proposal Authors: Only Telcoin Association Operations UAB (TAO) members may submit election proposals.
Required Actions: Every 12 months, TAO Members must
| Voters | Governance Channel | Platform Council | Treasury Council | Compliance Council | TAN Council | TELx Council |
|---|---|---|---|---|---|---|
| Stakers | https://snapshot.org/#/telcoinstakervote.eth | 2 | 1 | 1 | 2 | 1 |
| Developers | https://snapshot.org/#/telcoinappvote.eth | 2 | 1 | 1 | 2 | 1 |
| Liquidity Miners | https://snapshot.org/#/telxvote.eth | 2 | 1 | 1 | 1 | 3 |
| Validators | https://snapshot.org/#/telcoinvalidatorvote.eth | 2 | 1 | 1 | 1 | 1 |