Governance System
Governance System
TAN Harvesting Rules
Stakers and Developers stake TEL, produce new users and volume and mobile apps respectively, and harvest TEL from TAN based on their adoption of the Telcoin Platform according to rules that are set by the TAN Council.
Telcoin Application Network (TAN): TEL Harvesting Rules
Developers are GSMA members who stake TEL on TAN, produce mobile applications that connect users to the Telcoin Platform. Developers harvest TEL based on their mobile application’s adoption of the Telcoin Platform.
Stakers are business and retail Telcoin mobile application customers who stake TEL, market the Telcoin Platform to their business, customer, social networks to establish the system as infrastructure for settling payments other blockchain-powered use cases. Stakers harvest TEL based on their adoption and the network’s adoption of the Telcoin Platform.
The TAN Council sets and enforces the harvesting rules and allocates TEL within Telcoin Application Network to be harvested by Developers and Stakers. The TAN harvesting rules are as follows and are subject to change based on decisions made by the TAN Council using the TANIP process.
TAN Harvesting Rules: Overview
| Miner | Production Activities | Y1 TEL Allocation | Basis for TEL Income |
|---|---|---|---|
| Developers | TAN: Mobile application development Produce mobile apps which integrate with the Telcoin Platform and securely connect users to its services. Stake TEL on TAN Stake TEL in TAN staking contracts to harvest TEL. | Annual: 166.66M Flow: 3,205,128.205 weekly | Pro-rata share of their mobile application’s (Referral fees + TELx exchange fees + Telcoin Network gas fees paid by users) vs other developers each week. |
| Merchant Stakers | TAN: Platform adoption Use the system, market and connect with their business, customer networks to establish the Telcoin Platform as infrastructure for settling payments. Stake TEL on TAN Stake TEL in TAN staking contracts to harvest TEL. | Annual: 166.66M Flow: 3,205,128.205 weekly | Pro-rata share of their (fees paid + their referred users’ fees paid) vs other merchant stakers each week. |
| Retail Stakers | TAN: Platform adoption Use the system, market and connect to their social networks to establish the Telcoin Platform as infrastructure for settling payments. Stake TEL on TAN Stake TEL in TAN staking contracts to harvest TEL. | Annual: 166.66M Flow: 3,205,128.205 weekly | Pro-rata share of their (fees paid + their referred users’ fees paid) vs other retail stakers each week. |
Position Rules
Application Developers
Role: Mobile application development
Application Developers are GSMA members who produce mobile applications that integrate with the Telcoin Platform and enable users to securely access its products and services.
Merchant Stakers
Role: Marketing and platform adoption
Merchant Stakers are corporate Telcoin mobile app customers who market Telcoin to their networks of customers, suppliers, and others in their payment network to establish the Telcoin Platform as infrastructure for settling payments and other, blockchain-powered, business use cases.
Retail Stakers
Role: Marketing and platform adoption
Retail Stakers are individual, Telcoin mobile application customers who market Telcoin to their friends, family, and business payment networks to establish the Telcoin Platform as infrastructure for settling payments and other, blockchain-powered, consumer use cases.
TAN Council
Role: Governance and management
The TAN Council is the local governance organization with authority, using the TANIP process, to set, enforce, and refine the rules for interacting with TAN, and they are responsible for providing improvements and for allocating TEL within TAN to be harvested by local miners according to those rules.
The TAO
Role: Construction and maintenance
As authorized, directed and financed by the TAN Council, the TAO is responsible for maintaining existing infrastructure, constructing new systems, and coordinating with third-parties to produce and administer public goods.
Further details: for more information about TAN Miners and relevant organizations, review:
Application Developers
Stakers
TAN Council
Telcoin Association Operations UAB (TAO)
Eligibility and Authorization Rules
| Miners | Required Attributes | Registration Process | On-going requirements | Exit |
|---|---|---|---|---|
| Developers | Org Requirements: All GSMA Members are eligible to participate. Location Requirements: The entity must be located in a non-sanctioned country according to the United States OFAC/FINCEN sanctions list. | 1. Forum Proposal: Developer Authorization proposal to the Telcoin Forum. 2. Compliance Council Improvement Proposal (”CCIP”): The TAO proposes the Developer to Compliance Council 3. Authorization: Compliance Council affirms proposal. 4. Proof of Alignment: Stake TEL from governance-authorized wallet address. 5. Deployment: Deploy a TAN mobile application. | Proof of Alignment: Developers must maintain a staked TEL balance from their governance-authorized wallet address in order to continue harvesting TEL issuance from Telcoin Application Network (”TAN”) and to participate in governance. Application Requirements: Mobile Application must adhere to Application Infrastructure standards. | Unstake TEL: Developers may exit their position at any time by removing their entire staked TEL balance. Sanctions: The Compliance Council may sanction Developers for failing to adhere to application infrastructure standards by revoking their right to vote and harvest TEL issuance after multiple repeated offenses in a graduated manner according to the seriousness of the transaction. |
| Merchant Stakers | Org Requirements: All corporate or similar entities (e.g. trusts) are eligible to participate as Merchant Stakers. Location Requirements: The entity must not have primary jurisdiction location in a sanctioned country according to the United States OFAC/FINCEN sanctions list. | 1. Sign-up: Download and register on a Telcoin application and complete Know Your Customer (”KYC”) requirements. 2. Network Connection: Integrate another user’s referral code in their mobile application. 3. Proof of Alignment: Stake TEL on TAN from their Telcoin mobile application wallet. | Proof of Alignment: Stakers must maintain a staked TEL balance in order to continue harvesting TEL issuance from TAN and to participate in governance. User Account: Stakers must interact from a user account on a registered Telcoin mobile application. | Unstake TEL: Stakers may exit their position at any time by removing their entire staked TEL balance. Account Termination: Users who voluntarily or otherwise terminate their TAN mobile application account may not participate as a staker until their account is reinstated. |
| Retail Stakers | Org Requirements: All natural, individual persons, not businesses or similar entities, are eligible to participate. Location Requirements: The participant must not reside in a sanctioned jurisdiction according to the United States OFAC/FINCEN sanctions list. | 1. User Sign-up: Download and register on a Telcoin application and complete KYC. 2. Network Connection: Integrate another user’s referral code. 3. Proof of Alignment: Stake TEL on TAN from their Telcoin mobile application wallet. | Proof of Alignment: Stakers must maintain a staked TEL balance in order to continue harvesting TEL issuance from TAN and to participate in governance. User Account: Stakers must interact from a user account on a registered Telcoin mobile application. | Unstake TEL: Stakers may exit their position at any time by removing their entire staked TEL balance. Account Termination: Users who voluntarily or otherwise terminate their TAN mobile application account may not participate as a staker until their account is reinstated. |
Authority Rules
Developers: Required and Authorized Actions
Required Actions
In order to harvest TEL issuance, Developers must:
Authorized Actions
Developers may harvest as much TEL as they are capable based on their own efforts and abilities from the following issuance allocation over time based on the formula provided below.
(Referral fees + TELx exchange fees + Telcoin Network gas fees paid)/week
- Formula:
Total staked TEL > (TEL issuance income/ lifetime + TEL issuance income/ current week)
Stakers: Required and Authorized Actions
Required Actions
In order to harvest TEL issuance, Stakers must:
Authorized Actions
Stakers may harvest as much TEL as they are capable based on their own efforts and abilities from the following issuance allocation over time based on the formula provided below.
- TEL Allocation (Y1): 166.66M TEL in year one at a rate of 3,205,128.205 TEL per week.
- Basis: Pro-rata share of their (fees paid + their referred users’ fees paid) vs other merchant stakers each week.
- TEL Allocation (Y1): 166.66M TEL in year one at a rate of 3,205,128.205 TEL per week.
- Basis: Pro-rata share of their (fees paid + their referred users’ fees paid) vs other retail stakers each week
- Maximum TEL Issuance: Developers and Stakers may mine their accrued weekly issuance if their total staked TEL balance throughout the entire week is greater than their lifetime TEL issuance earnings plus issuance income during the week.
- Excess TEL: Any excess TEL which has not been mined from TAN during the week will be distributed to the TAN Council safe to be allocated by the TAN Council.
- Time Slots: Each harvesting period lasts for 7 days starting and ending at 00:00 UTC time at the beginning of each week.
Authority over TAN Harvesting Rules
The TAN Council, using the TANIP process, possesses authority to alter and enforce TAN harvesting rules, and is responsible for ensuring TEL is allocated and harvested according to those rules.
TAN Maintenance and Construction Rules
Until the TAN Council alters the arrangement, the TAO will maintain existing components on TAN. Any new construction will need to be planned, financed and coordinated by the TAN Council.