Governance System

Governance System

Liquidity Miners: Governance Authority

Liquidity Miners propose and vote in governance within their Miner Group based on their pro-rata share of staked liquidity on TELx.

Liquidity Miners: Governance Authority

Overview

As one of the four Miner Groups who collectively possess power over, with, and within the Telcoin governance system, Liquidity Miners can exert authority at all three levels of the Telcoin governance system, including at the constitutional level of analysis in which the terms and conditions of governance are set and refined, at the collective-choice level of analysis in which the rules structuring the day to day activities are set, and at the operational-choice level of analysis, where individual liquidity miners collectively produce and harvest benefits from the system or the Telcoin platform.

Liquidity Miners: Political Power and Channel

  • Political Power: An individual liquidity miner’s proposal and voting power in governance is based on their pro-rata share of liquidity staked in TELx contracts.
  • Governance Channel: https://snapshot.org/#/telxvote.eth

    • Liquidity Miners: Collective-choice authority and associated rules

  • Council Member Selection: Possess the right to select the following number of representatives to each Council.
    • Platform Council: 2 of 8 representatives
    • Treasury Council: 1 of 4 representatives
    • Compliance Council: 1 of 4 representatives
    • TAN Council: 1 of 6 representatives
    • TELx Council 3 of 6 representatives
  • Council Member Selection Rules
  • Council Member Participation: Possess the right to nominate themselves, be selected, and participate in Miner Council decision making processes that provide for, produce, and administer operational improvements and rules.

    • Liquidity Miners: Constitutional-choice authority and associated rules

  • Altering the Governance System: Possess the right, as a part of the Miner Assembly and using the TGIP process, to alter the Telcoin governance system.
  • Representative Improvements: Possess the right, independent of other Miner Groups and using the TRIP process, to alter their representatives’ position titles, roles, responsibilities, nomination applications and selection criterion.

    • Liquidity Miners: Operational-choice authority and associated rules

  • DeFi Liquidity Provision: Liquidity miners possess the right to provide liquidity to TELx DeFi markets, stake their liquidity provider tokens (LPTs) in TELx staking contracts, earn fees from trades through their liquidity pools, and harvest TEL issuance from TELx based on their pro-rata share of staked liquidity.
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