Governance System

Governance System

Validators

Validators propose and vote in governance within their Miner Group based on their pro-rata share of TEL staked for PoS on Telcoin Network.

Validators: Governance Authority

Overview

As one of the four Miner Groups who collectively possess power within the Telcoin governance system, Validators can exert authority and protect their functionally distinct interests 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 validators produce and harvest benefits from Telcoin Network.

Validators: Political Power and Channel

  • Political Power: An individual validator’s proposal and voting in governance power is based on their pro-rata share of TEL staked for proof-of-stake consensus (PoS) on Telcoin Network versus other Validators.
  • Governance Channel: https://snapshot.org/#/telcoinvalidatorvote.eth

    • Validators: 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 1 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.

    • Validators: 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.

    • Validators: Operational-choice authority

  • Block Production: Validators possess the right to stake TEL to participate in PoS consensus on Telcoin Network, and earn TEL gas fees, issuance when they secure a block to the blockchain.
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    Validators: Decision-making Rules

    Validators: Positions and Eligibility Rules

  • Proposal Authors: Submit proposals to the Validators governance channel for voting.
    • Attributes: All authorized validators and TAO members may submit proposals subject to the following conditions.
    • Conditions: A validator must have at least 2% of total TEL staked for PoS and there must be at least 10 authorized validators producing blocks on Telcoin Network, and the TAO member must possess a TAONFT, to submit proposals.
  • Voters: Vote on proposals submitted to the Validators governance channel.
    • Attributes: All authorized validators or TAO members may vote, subject to the following conditions.
    • Conditions: A validator must have TEL staked for PoS on Telcoin Network, or, if less than 10 validators are producing blocks on Telcoin Network, TAO members in possession of a TAONFT will vote on their behalf, at the time of the proposal.

    • Validators: Proposal and Voting Rules

  • Political Power: An individual validator’s proposal and voting in governance power is based on their pro-rata share of TEL staked for PoS Consensus on Telcoin Network versus other Validators.
  • Governance Channel: https://snapshot.org/#/telcoinvalidatorvote.eth
    • Collective-choice Rules: Council Member Selection Rules
      • Proposal Rules
        • Liquid Delegation Proposal Rules: Validators with 2% of political power and TAO members may submit liquid delegation proposals at anytime, as long as voting does not coincide with the week-long, annual election.
        • Election Proposal Rules: Once each year, the TAO is required to submit all eligible validator Council Member candidates, in separate proposals for each Miner Council, to the Validators governance channel for elections voting.
      • Voting Rules
        • Approval: Plurality, the candidate(s) with the most votes win.
        • Quorum: 20% of the total TEL staked for PoS on Telcoin Network must participate in the vote, or else the TAO will substitute on behalf of validators until a Council Member is selected.
        • Duration: 7 days
    • Constitutional-choice Rules: TGIP, TRIP Rules
      • Proposal Rules: Validators with 2% of political power and TAO members may submit TRIP and TGIP proposals to the validator governance channel for voting at any time.
      • Voting Rules
        • Approval: 80% of all votes must be in favor of the proposal in order for it to pass.
        • Quorum: 20% of the total staked TEL balance by Validators must participate in the vote, or else it will be rejected.
        • Duration: 7 days

    • Note

    Until 10 authorized validators are producing blocks on Telcoin Network, the Telcoin Association Operations UAB (TAO) will propose and vote on behalf of Validators.

    Validators: Overview

    A summary description of Validators including their role, activities and benefits, participation requirements, attributes, and governance authority.

    Validators: Attributes

    The attributes and characteristics of Validators, GSMA Operator Member Mobile Network Operators (MNOs) who specialize in blockchain security on Telcoin Network, the blockchain execution and settlement layer of the Telcoin Platform.

    Validators: Eligibility and Authorization Rules

    All GSMA Operator Member MNOs using a GSM family technology who are approved by the Compliance Council, stake TEL for proof-of-stake consensus and deploy, and manage a node on Telcoin Network may participate as Validators.

    Validators: Platform Activities and Benefits

    Validators stake TEL to participate in PoS consensus, operate a validator node to create and verify new blocks to Telcoin Network, and earn TEL gas fees, issuance when they secure a block to the blockchain.

    Validators: Governance Authority

    Validators propose and vote in governance within their Miner Group based on their pro-rata share of TEL staked for PoS on Telcoin Network.