Governance System

Governance System

TELx Improvement Proposal (TELxIP) Rules

The process used by the TELx Council to govern TELx operational rules and improvements.

Overview

CouncilsRepresentationProcess, Domain of AuthorityDecision-making Rules



TELx Council		TELx 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

TELxIP: Position and Boundary Rules

Proposal Authors

  • TELxIP Forum Channel: Any registered member of the Telcoin forum may submit a TELxIP to the TELxIP forum channel for review by the community
  • TELx Council Snapshot: All TELx Council members holding a TELxNFT, Telcoin Association Operations UAB (TAO) members or other designated authors as determined by the Miner Assembly may submit TELxIP proposals to the TELx Council snapshot for voting.
  • Veto: All Compliance Council and TAO members, using the CCIP process, may submit TELxIP veto proposals to the Compliance Council snapshot at any point during the formal voting process and within 72 hours afterwards.

    • Voters

  • TELx Council: All TELx Council members holding a TELxNFT may vote on a TELxIP.
  • Compliance Council: All Compliance Council members holding a CCNFT may vote to veto a TELxIP proposal using the CCIP process.

    • Implementation units

  • TELx Council: Responsible for instructing, coordinating, or administering the implementation of new policies and procedures internally or with third-parties.
  • TAO: At the request of the TELx Council, serves to maintain and alter existing components, assists with the coordination of third parties to construct new facilities, and documents the outcome of TELxIP proposals on Telcoin.org.
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    TELxIP: Choice Rules

    The TELxIP proposal process may be used to approve, provide and implement TELx improvements that involve the TELx TEL inventory, storage facilities, issuance distribution mechanisms and is used to govern harvesting, communication, provisioning policies and other activities that fall within the domain of TELx.

    Permitted Actions

    Using the TELxIP process, the TELx Council is permitted to:

  • TELx Improvements: Any proposal related to TELx that the Council and community deem beneficial to the network including but not limited to:
    • TELx Harvesting Rules: Who is allowed to harvest units on TELx; the timing, quantity, location and technology used to harvest issuance on TELx.
      • Example: A proposal to allocate issuance from an existing liquidity pool to a new liquidity pool.
    • TELx Provisioning and Development: Improvements that provide for the construction and maintenance of TELx components and facilities as determined by the TELx Council.
      • Example: A proposal to create a new staking contract that allocates issuance and coordinates with the TAO or another third party as stipulated in the proposal, to implement the upgrade.
    • TELx Communication and Information Rules: Proposals that add new or alter existing communication and information systems including TELx section of the Telcoin Discord, TELx.network, and the scheduling of periodic community discussions.
      • Example: A proposal to add a “gated channel” on the TELx section of the Telcoin Discord, requiring users to verify their staked TELx LPTs balance in order to access the channel.
    • TELx Issuance Storage & Distribution Mechanisms: Proposals that alter the infrastructure used to store and distribute TEL issuance from the TELx Council safe.
      • Example: The TELx Council votes to use an automated smart contract system to distribute TEL to staking contracts periodically instead of via airdrop.

    • Forbidden Actions

    Using the TELxIP process, the TELx Council is forbidden to:

  • Violating Telcoin’s mission, vision, values, and code of general conduct.
  • Proposing something that involves others without their consent.
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    TELxIP: Decision-making Rules

    Proposal Rules

  • TELxIP Forum Proposal: Anyone may submit a prospective TELxIP for review to the TELxIP Telcoin forum channel.
  • TELx Council Proposal: TELx Council members, TAO members, and any other designated author on the TELx Council snapshot may submit TELxIP proposals to the TELx Council snapshot for voting.
    • Requirements: The proposal author must properly codify the TELxIP proposal in chronological order.
      • Example: The first TELxIP proposal should be coded as [TELxIP1].
  • Compliance Council Veto Proposal: At any point during the TELxIP voting process and within 72 hours after it has been affirmed by the TELx Council, Compliance Council or Telcoin TAO members may submit a veto proposal to the Compliance Council snapshot using the CCIP process.

    • Voting Rules

  • TELx Council Voting: The TELx Council must vote with 6/8 approval within 120 hours (5 days) from snapshot proposal submission, or else the proposal will not pass.
    • Approval Rate: 5/6
    • Duration: 120 hours (5 days)
    • Outcomes
      • Approved: The proposal will be automatically submitted to the Compliance Guard for review.
      • Rejected: Council members who vote against a proposal or abstain must provide a rationale and changes that would be needed to pass a proposal.
  • Compliance Council Veto: In the 72 hours after the TELx Council has affirmed a proposal, the Compliance Council may vote to veto a TELx proposal with a 3/4 approval rate, or else the proposal will be affirmed, implemented, and documented.
    • Approval (Veto) Rate: 3/4
    • Duration: 72 hours (3 days)
    • Outcomes
      • Veto: The proposal will be vetoed. Compliance Council members who voted to veto the proposal must provide their rationale and constructive feedback at the time of the vote.
      • No Veto (Approved): If the Compliance Council fails to veto a proposal, it will be affirmed, implemented, and documented.
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    TELxIP: Implementation, Documentation, Communication Rules

    Implementation Rules

  • The TELx Council works within their organizations and externally with third parties such as the TAO and other firms to implement the proposal as outlined in the implementation section of the TELxIP.

    • Documentation Rules

  • The proposal author is required to document the proposal in Telcoin.org by updating the forum post and adding the affirmed proposal to the TELxIP documentation section chronologically.

    • Communication Rules

  • The proposal author must share the the link to the proposal to the TELxIP updates section of the TELx discord after submitting it the TELx Council, after it is affirmed or rejected by the TELx Council, and after it is either veto or not by the Compliance Council.

    • TELxIP: Information, Communication, Governance Channels

  • Forum Channel:
  • TELxIP History:
  • Communications Channel:
  • TELx Council Snapshot: https://snapshot.org/#/telxcouncil.eth
  • Compliance Council Snapshot: https://snapshot.org/#/telcoincompliancecouncil.eth
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    TELxIP: Process

  • TELxIP Forum Proposal: Forum members submit a proposal to TELxIP channel on the Telcoin forum.
  • TELx Council Proposal: A TELx Council, TAO member, or other designated author on the TELx Council snapshot page decides to submit the proposal to the TELx Council Snapshot for voting.
  • TELx Council Vote: The TELx Council must vote with 5/6 approval within 120 hours (5 days) from snapshot proposal submission, or else the proposal will not pass.
    • Approval Rate: 5/6
    • Duration: 120 hours (5 days) If the proposal receives at least 5/6 approval within 5 days of submission, it is affirmed.
  • Compliance Council Veto Proposal: At any point during the TELxIP voting process and within 72 hours after it has been affirmed by the TELx Council, Compliance Council or TAO members may submit a veto proposal to the Compliance Council snapshot using the CCIP process.
  • Compliance Council Vote: The Compliance Council must vote to veto the proposal within 72 hours after it is approved by the TELx Council, or else the proposal will be approved.
    • Approval (Veto) Rate: 3/4
    • Duration: 72 hours (3 days)
  • Implementation:
    • Social: The TELx Council either implements the proposal itself or works with the TAO or other third parties to implement the update.
    • TEL Transfers: TEL is transferred from the TELx Safe to the intended address as a result of the affirmation of the proposal.
  • Documentation: The Proposal Author from the TELx Council coordinates with the TAO (or another administrator as determined by the TELx Council) to update Telcoin.org TELxIP documentation.
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    TELxIP: Proposal Template

  • Abstract
  • Specification
  • Implementation
  • Transactions
    • In order to send TEL to an address, after the voting options screen there is a transaction creation screen. Click Add Transaction Batch, set type to Transfer Funds, set asset to TEL, set the appropriate To address, and finally input the desired amount of TEL.