Governance System

Governance System

Treasury Council

The Treasury Council is a global, system-wide governance organization with shared authority and duties towards voting for proposals involving the TEL Treasury or TEL token contract, governance infrastructure, and Telcoin Network.

Treasury Council (4 members, balanced representation; 12 month term)

  • Overview: Votes on TELIP proposals that regulate the primary TEL inventory and source of issuance, the TEL Treasury, including issuance, grants, other discretionary policies related to the Treasury and its inventory, Telcoin Network harvesting policies and improvements. Proposals must first be approved by the Platform Council before they can be voted on by the Treasury Council.
    • Domain: TEL Treasury Inventory, storage and distribution facilities and mechanisms; Telcoin Network.
    • Policy Area: TEL Treasury distribution rules, Telcoin Network harvesting rules after the network goes live with 10 authorized validators.
    • Deliberation Processes: [TELIP] Proposals
    • Voting Rules
      • Approval Rate: 4/4
      • Quorum: 100%
      • Duration: 72 hours
      • Location: Treasury Council Snapshot

    • Treasury Council: Authority, Duties, Activities, Benefits

    Overview

    The Treasury Council is a general-purpose, system-wide governing body with authority to vote to (1) improve to the Platform, (2) regulate of the flow of TEL issuance from the TEL treasury, and (3) determine and enforce a wide-variety of system-wide rules that do involve the TEL Treasury.

    Authority

  • Bi-Cameral Authority: In cooperation with the Platform Council and using the TELIP process, the Treasury Council possesses the authority vote on proposals that provide for improvements to the system including Telcoin Network (after 10 authorized validators are producing blocks on the main Telcoin Network), regulate the flow of TEL issuance from the TEL treasury, and rules that regulate interactions with the Platform and between relevant actors that involve the TEL treasury.

    • Duties

    The Treasury Council is required to assist with the development and must vote to (1) provision (plan, finance) and coordinate implementation of improvements to the Platform system, (2) regulate the flow of TEL issuance from the TEL Treasury (3) introduces, alters, and enforces Platform-wide operational rules including Treasury distribution, Telcoin Network harvesting, platform-wide information and communication, maintenance and construction (4) informs Miners of the activities and outcomes related to the TEL Treasury.

    Treasury Council: Activities Overview

  • TEL Improvement Proposals (TELIP): Using the TELIP process, in cooperation with the Platform Council, the Treasury Council is permitted to vote on and required to undertake the following activities that do involve the TEL Treasury.
    • Platform and TEL System Improvements: Provides for (plans and finances) and coordinates improvements to the Platform.
      • Infrastructure: Plans, finances, and coordinates the addition, removal, and alteration of Platform components that do involve the TEL Treasury inventory, storage, distribution facilities.
    • Telcoin Network Improvements: Provides for and improves Telcoin Network components.
      • Infrastructure: May provide for improvements to Telcoin Network including altering existing and adding new Telcoin Network components(after the network has 10 authorized, validators producing blocks).
    • TEL Treasury Inventory, Storage and Distribution: Regulates and Distributes issuance from the TEL treasury.
      • Regulate, Distribute TEL Inventory and Flows: Allocate and distribute TEL issuance from the TEL Treasury safe or other platform-wide safes to network council safes, alter Treasury storage and distribution facilities, and to finance operational activities by administrative personnel.
    • Platform-wide and TEL Treasury Rule-making and enforcement
      • Distribution Rules: Determine and enforce distribution rules from the TEL Treasury to network council safes, council members, and any distribution schedules and mechanisms originating from the TEL Treasury.
        • Platform Distribution Rules: link
      • Telcoin Network Harvesting Rules: After 10 authorized validators are producing blocks on Telcoin Network, determines and enforces (1) who can harvest (2) how much TEL issuance from Telcoin Network (3) based on what formula (4) by what means (4) using what technology (5) and the infrastructural mechanisms involved in the calculation and distribution of TEL issuance to miners.
      • Maintenance and Construction Rules: Selects, finances and coordinates with production units to implement improvements to the system.
  • Communication and Information-sharing: Schedules and attends recurring meetings, disseminates proposal updates, provisions and disseminates data & analytics.
    • Communication: All Treasury Council Members are required to attend all recurring meetings, to keep their constituency and the broader Telcoin community apprised of all improvements to the system and flow of issuance, and changes to the operational-rules.
      • Recurring Meetings: Schedule recurring meetings at least every two weeks, set the agenda for each each meeting, and attend all system-wide Council meetings, or else after missing more than one meeting the Compliance Council may instruct the TAO to revoke the absent member’s NFT and vote on behalf of their constituency until a replacement is found.
      • Proposal Updates: Proposal authors are required to (1) update the Telcoin community each time a TELIP proposal has been submitted to the Treasury Council for voting, (2) inform of the outcome of the Treasury Council vote, (3) inform the community of the status and progress of proposals in the implementation phase including when it has been implemented.
    • Information-sharing: The Treasury Council is required to provide for the construction and maintenance of data & analytics systems that deliver real time and historical data relevant to the TEL Treasury, and must analyze and update the community periodically based on historical activities and outcomes.
      • Data Analytics Systems: The Treasury Council is required to provide for the construction and maintenance of data analytics systems that deliver real time and historical data relevant to the TEL Treasury.
      • Data Analysis & Updates: The Treasury Council is required to provide updates to the community pertaining to the overall economic sustainability and productivity of the TEL Treasury as a component of the Platform.

    • Forbidden Actions

  • Violating Telcoin’s mission, vision, values, and code of general conduct.
  • Proposing something that involves others without their consent.

    • Treasury Council: Benefits Overview

    Upon selection and subsequent transfer of a governance NFT to their wallet address, Treasury Council members possessing a TCNFT are streamed a flow of 2,272,727.273 TEL annually on a per block basis to their wallet.

    Treasury Council: Technologies used and infrastructure involved

    Technologies used: Treasury Council members use the following private technologies to exercise their authority.

  • TEL
    • Description: Council members must use TEL as an input in production processes, as a private technology for harvesting TEL issuance, and as a private technology used to vote for Council Members.
  • Web3 Wallet
    • Description: Council members must use a web3 wallet to conduct their voting activities.

    • Infrastructure involved: The following infrastructural components of the platform enable the Treasury Council to perform its activities.

  • Treasury Council Snapshot: https://snapshot.org/#/telcointreasurycouncil.eth
    • Description: The governance mechanism used by Treasury Council members to vote on TELIP proposals that have already been affirmed by the Platform Council.
  • Treasury Council NFT (TCNFT):
    • Description: Treasury Council members are transferred a TCNFT upon selection by Miner Groups, conferring them proposal and voting authority over their domain and a flow of council member issuance.
    • Link to Contract: 0x55DBC7C80d0421917D763209a8035eA6D53Df608
  • Discord:
    • Description: The communications channel used by members to deliberate proposals with and communicate proposal updates to the community.
  • Telcoin Forum: Telcoin.org/forum
    • Description: Communication channel used to submit and deliberate forum proposals prior to formal voting procedures.
  • Telcoin Documentation: Telcoin.org/docs
    • Description: Information channel used to document the Telcoin Platform, TEL issuance, Actors, Governance System, and the resulting interactions and outcomes between those components.
  • Learn more: Governance System Infrastructure

    • Treasury Council Members: Selection, Authorization, Representation and Roles

    Council Member Selection

    Each miner group selects other individual or corporate miners into Council Member positions in on-going liquid delegation and periodic election processes. Council members must nominate themselves to the relevant Council forum channel using the proper format to be considered, and, if selected, are transferred a Council NFT conferring them proposal and voting authority over their Miner Council Snapshot and a stream of council member issuance in TEL.

    Council Member Authorization

    Council Members must submit a compliant Council Member authorization form to the Compliance Council within 1 month of being selected to a Council, or else the Compliance Council will instruct the TAO to revoke their NFT and vote on their behalf.

    Council Members: Representation and Special Duties

    Council Members are assigned duties based on the specialization of their constituency. These special duties are as follows, can be altered at any time by miner groups in constitutional choice processes[TRIP], and are in addition to, not a replacement for, duties required by each Council as a collective body.

  • Staker Representative (1): Represent the interests of, communicate with, and inform Stakers in on-going decision-making processes and day to day activities and outcomes. Stakers may vote to add/alter special duties and overall operational responsibilities required by their delegates at any time.
    • Specialization: Data
    • Special Duties: Responsible for coordinating the creation of data and information analytics systems related to TEL issuance and fees on behalf of the Treasury Council.
  • Developer Representative (1): Represent the interests of, communicate with, and inform Developers in on-going decision-making processes and day to day activities and outcomes. Developers may vote to add/alter special duties and overall operational responsibilities required by their delegates at any time.
    • Specialization: Distribution
    • Special Duties: Responsible analyzing, designing and proposing efficient and secure TEL issuance distribution mechanisms including simulating TELIP distribution proposals to ensure TEL units transfer to the proper address.
  • Liquidity Miner Representative (1): Represent the interests of, communicate with, and inform Liquidity Miners in on-going decision-making processes and day to day activities and outcomes. Liquidity Miners may vote to add/alter special duties and overall operational responsibilities required by their delegates at any time.
    • Specialization: Financing
    • Special Duties: Responsible for researching, designing, and proposing TELIP policies that finance the construction, maintenance, and implementation of collective goods. (e.g. grants programs)
  • Validator Representative (1): Represent the interests of, communicate with, and inform Validators and the TAO in on-going decision-making processes and day to day activities and outcomes. Validators (TAO in the interim) may vote to add/alter special duties and overall operational responsibilities required by their delegates at any time.
    • Specialization: Storage
    • Special Duties: Responsible analyzing, designing and proposing secure TEL storage facilities and for coordinating with multi-signature signers to ensure timely transfers.