Governance System

Governance System

Telcoin Governance System Improvement Proposal (TGIP) Rules

The process used by the Miner Assembly to alter any aspect of the Telcoin Platform governance system.

Overview

The Telcoin Governance Improvement Proposal (TGIP) process is the constitutional-choice process by which the Miner Assembly, made up of all four Miner groups (Stakers, Developers, Liquidity Miners, Validators), proposes, ratifies, and implements changes and upgrades to the Telcoin Governance System. Each Miner Group must simultaneously or sequentially approve of the same TGIP proposal in order for it to be ratified and implemented. All aspects of the Telcoin Governance System may be altered using the TGIP process.

 

Position and Boundary Rules

Proposal Authors

Proposal AuthorEligibility RulesProposal PowerGovernance Channel
Forum Proposal AuthorMust be a member of the Telcoin governance forum.All forum members may submit TGIP proposals.Telcoin.org/forum
StakersAll Stakers with 2% of the TEL staked from a Telcoin mobile wallet may submit TGIP proposals.Staked TEL by Telcoin app usershttps://snapshot.org/#/telcoinstakervote.eth
DevelopersAll authorized Developers with 2% of TEL by all developers may submit TGIP proposals.Staked TEL by authorized Developers from uniquely identifiable wallets.https://snapshot.org/#/telcoinappvote.eth
Liquidity MinersAll Liquidity Miners with 2% of the total staked TELx LPT containing TEL may submit TGIP proposals.TELx LPTs containing TEL tokens.https://snapshot.org/#/telxvote.eth
ValidatorsAll Validators with 2% of the TEL staked for validation may submit TGIP proposals if there are 10 authorized validators producing blocks on Telcoin Network.Staked TEL by authorized Validators from authorized wallets.https://snapshot.org/#/telcoinvalidatorvote.eth
TAO MembersAll TAO members holding a TAO NFT may submit TGIPs to any Miner Group snapshot for voting.TAO NFTsAll

Voters

Each Miner Group must propose and vote on the same TGIP proposal either sequentially or simultaneously, and achieve an 80% approval rate and 20% quorum, in order to approve a TGIP proposal.

VotersConditionsPowerApprovalQuorumDuration
StakersAll Stakers with a staked TEL balance at the time of the proposal may vote.Staked TEL by Telcoin app users80%20%7 days
DevelopersAll authorized Developers with a staked TEL balance at the time of the proposal may vote.Staked TEL by authorized Developers from uniquely identifiable wallets.80%20%7 days
Liquidity MinersAll Liquidity Miners with a staked TELx LPT containing TEL at the time of the proposal may vote.TELx LPTs containing TEL tokens.80%20%7 days
ValidatorsAll authorized Validators with a staked TEL balance for validation at the time of the proposal may vote if there are 10 authorized validators producing blocks on Telcoin Network.Staked TEL by authorized Validators from authorized wallets.80%20%7 days
TAOThere must be less than 10 authorized Validators producing blocks.TAO NFTs4/5100%7 days

Authority Rules

Using the TGIP process, the Miner Assembly, including all four Miner Groups, may alter any aspect of the Telcoin Governance System.

Examples:

  • Creating a new Council: The Miner Assembly decides to create a Telcoin Network Council to manage local rules on Telcoin Network related to harvesting and upgrading the system.
  • Removing a Council: The Miner Assembly decides to remove the Treasury Council.
  • Additional Examples: Altering representative selection rules, Miner Council decision-making rules, dissolving the Telcoin Association.

    • TGIP Process

  • Forum Proposal: A Telcoin forum member submits a TGIP to the Telcoin Forum, using the TGIP template to propose an improvement to the Telcoin Governance System.
  • Miner Assembly Proposals: Miners with 2% of their Miner Group’s voting power or Telcoin Association Operations UAB (TAO) members submit the same, properly codified TGIP proposal to each of the Miner Group snapshots.
    • Requirements:
      • The proposal authors must properly codify the proposal in chronological order e.g. the first proposal is [TGIP1].
      • The proposal authors must include all details as outlined in the TGIP proposal template identically.
  • Miner Assembly Vote: Within 168 hours of submission to their respective snapshot, all miner groups must approve of the TGIP proposal with an approval rate of 80% and a quorum requirement that 20% of the total voting power in reach group must participate in all Miner Group votes.
    • Approval Rate: 80%
    • Quorum: 20%
    • Duration: 7 days or 168 hours
  • Implementation: The proposal authors from each Miner Group work with the TAO and/or other individuals and corporations as cited in the proposal, to implement the proposal.
  • Documentation: The Proposal Authors from each Miner Group work with the TAO or another firm or individual responsible for updating Telcoin.org to properly document the proposal on Telcoin.org TGIP documents.
  • Communication: The TAO and each of the proposal authors post the results of the proposal to the Telcoin Discord along with ongoing updates related to implementation.

    • TGIP Template

  • Link to Existing Policy: Please link to the rules that are subject to changed as a result of this proposal (if applicable).
  • Abstract: Please share a brief summary 2-3 of the proposed changes.
  • Specification: Please give a complete description of the changes that will be made.
  • Rationale: Please provide a rationale for the changes.
  • Implementation: Please provide details related to who will take what steps to implement the changes.