Governance System
Governance System
Telcoin Network Harvesting Rules
GSMA Operator Member, mobile network operators stake TEL for proof of stake consensus on Telcoin Network, manage a validator node, and harvest from a TEL allocation of 200M TEL in year one. They harvest TEL at a rate of 547,945.205 TEL per day, based on their pro-rata share of blocks secured to the blockchain. Telcoin Network harvesting rules are set, enforced, and refined by the Platform and Treasury Council using the TELIP process.
Telcoin Network: TEL Harvesting Rules
Validators are GSMA Operator Member, mobile network operators who stake TEL for proof-of-stake consensus, manage a Telcoin Network node to create and verify blocks to the blockchain, and harvest TEL issuance based on their pro-rata share of blocks secured each day.
Prior to the release of the main network and a quorum of 10 authorized validators, the TAO sets and enforces the rules and allocates TEL within Telcoin Network to be harvested by Validators. Afterwards, the Platform and Treasury Council will possess authority over and duties to enforce Telcoin Network rules using the TELIP process.
The following rules define and specify who may harvest what quantity of TEL from Telcoin Network over time based on what formula, and are subject to change based on governance decisions.
Telcoin Network Harvesting Rules: Overview
Position Rules
Validators
Role: Blockchain Security
Validators create and verify blocks to the Telcoin Network blockchain to enable decentralized transaction execution and settlement for Telcoin Platform users.
Platform and Treasury Councils
Role: Governance and management
The Platform and Treasury Councils, using the TELIP process, possess shared authority to set, enforce, and refine the rules for interacting with Telcoin Network, and they are responsible for providing improvements and for allocating TEL within Telcoin Network to be harvested by Validators according to those rules.
The TAO
Role: Construction and maintenance
As authorized, directed and financed by the Platform and Treasury Councils, 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 Validators and the relevant Telcoin Network organizations, review:
Validators
Platform Council
Treasury Council
Telcoin Association Operations UAB (TAO)
Eligibility and Authorization Rules
| Position | Required Attributes | Registration Process | On-going requirements | Exit |
|---|---|---|---|---|
| Validators | Org Requirements: All GSMA Operator Member, Mobile Network Operators may 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: Validator Authorization proposal to the Telcoin Forum. 2. CCIP: The TAO proposes the Validator to the Compliance Council. 3. Authorization: Compliance Council confirms (or rejects) the proposal. 4. Proof of Stake: Validator stakes TEL for proof-of-stake consensus (”PoS”) and begins producing blocks. | Proof of Stake: Validators must have a staked TEL balance for PoS at all times to continue harvesting TEL from Telcoin Network and to participate in governance. | Unstake TEL: Validators may exit their position at any time by removing their entire staked TEL balance. |
Authority Rules
Validators: Required and Authorized Actions
In order to harvest TEL issuance, Validators must:
Authorized Actions: TEL Issuance Allocation and Basis Formula
The quantity and formula used to calculate how much TEL issuance a Validator may harvest from the Platform over time using what technologies.
Authority over Telcoin Network Harvesting Rules
The TAO possesses authority to alter and duties to enforce Telcoin Network harvesting rules while the network is still being developed, and after 10 validators are authorized and producing blocks on Telcoin Network, this authority and duties will transfer to the Platform and Treasury Councils using the TEL Improvement Proposal (TELIP) process.
Telcoin Network Maintenance and Construction Rules
Until the Platform and Treasury Councils alter the arrangement using the TELIP process, the TAO will construct and maintain existing Telcoin Network components. Any new construction will need to be financed and coordinated by the Platform and Treasury Councils using the TELIP process.