Interactions and Outcomes

Interactions and Outcomes

TELx: Production and Consumption Activities and Benefits

Liquidity Miners provide liquidity to TELx markets and earn fees from trades through their pools.

TELx Production and Consumption Activities: Introduction

The following section first describes the factors that encompass all aspects of the material, social, and institutional environment which set the context for the various actors and user groups that harvest TEL from TELx. We then provide a an overview of TEL harvesting activities and benefits, and propose evaluative criteria that could be used by to determine which outcomes the community would deem satisfactory.

Context

  • Telcoin Platform and TEL: Characteristics of the TELx system and the TEL benefits it generates.
  • Attributes of the Actors: The attributes of the community of TELx Miners.
  • Governance System: The organizations and rules that structure and control TEL harvesting activities.

    • TEL Harvesting Interactions and Outcomes

  • Table Overview: The involved actors, the benefits they enjoy, the activities they undertake, using what technologies, the basis formula determining how benefits are calculated, and the infrastructure involved in the situation.
  • Evaluative Criteria: Criteria that may be used by miners or external observers to determine which aspects of the observed outcomes are deemed satisfactory and which aspects are in need of improvement.

    • Attributes of the System: TELx and TEL

    Resource System: TELx

    The characteristics of the resource system involved in generating benefits. TELx is a network of liquidity pools on blockchain-based, decentralized financial protocols that enable user-owned, automated, self-custodial exchange.

    TELx: Sector, Infrastructure, Productivity

    Resource Products: TEL

    The characteristics of the units extracted from TELx that can then be used to consume platform services, held for later use, or used as an input in production, harvesting, governance, or exchanged for other goods or services.

    TELx: TEL Attributes

    Markets: Liquidity Pools

    The characteristics of TELx AMM liquidity pools, on-chain decentralized markets used for exchange.

    TELx: Liquidity Pools

    TELx Actors: Attributes

    Liquidity Miners

    Role: Liquidity Provision
    TEL users who provide exchange liquidity to decentralized financial markets on TELx, earn fees from trades, stake their TELx liquidity provider tokens (LPTs) on TELx, harvest TEL rewards, and participate within their Miner Group in governance based on their pro-rata share of liquidity staked on TELx.

    Benefits: Exchange Fees
    Technologies used: Private technologies used by liquidity miners to harvest TEL from TELx.
    Infrastructure Involved: The TELx systems liquidity miners interact with to produce, consume services and harvest TEL issuance.

    TELx Governance System: Attributes

    TELx Council

    Role: Governance and management

    The TELx Council is the local governance organization with authority to set, enforce, and refine the rules for interacting with TELx using the TELxIP process, and they are responsible for providing improvements and for allocating TEL within TELx to be harvested by liquidity miners according to those rules.

    CouncilsRepresentationProcess, Domain of AuthorityDecision-making Rules



    TELx Council    		TELx Council
    · Members: 6
    · Representation:
    Stakers: 1 rep
    Developers: 1 reps
    Liquidity Miners: 3 reps
    Validators: 1 rep
    		TELx Improvement Proposal (”TELxIP”)

    TELx operational rules including allocation, harvesting, planning and financing, information, communication.    		Proposal Authority: TELx Council, TAO

    Approval: 5 out of 6
    Quorum: 100%
    Duration: 120 hours
    Channel: telxcouncil.eth

    The TAO

    Role: Construction and maintenance

    As authorized, directed and financed by the TELx 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 liquidity miners and relevant TELx organizations, review:

    Liquidity Miners

    TELx Council

    Telcoin Association Operations UAB (TAO)

    TELx Harvesting Rules

    Liquidity Miners produce DeFi markets, stake LP tokens in TELx, and harvest from a flow of 400M TEL in year one, pro-rata based on their share of staked liquidity over time, according to rules according to rules that are set by the TELx Council.

    TELx Harvesting Rules

    TELx: Production and Consumption Interactions and Outcomes

    ActorsBenefitActivityFlow of BenefitsBasis
    Liquidity MinersIncome from swap fees paid by traders.Provisioning pool assets to TELx liquidity pools and accruing swap fees from trades.Liquidity miners earn fees each time a swap is conducted through their liquidity pool..04%-0.30% fees as determined by TELx governance on a per market basis.
    TradersThe ability to exchange assets in a decentralized, self-custodial way at any time.Swapping between assets in TELx liquidity pools, paying pool fees each time they transact.Each swap users exchange one asset and receive another.The value a user receives is dependent upon the price and liquidity for that asset across TELx.

    Evaluative Criteria

    General Performance Indicators: Liquidity, staked liquidity, actors, volume, fees, buy-backs
    Sustainability: Can the quantity of TEL issuance units available to be harvested by Liquidity Miners according to TELx Harvesting Rules sustain at current levels over time?
    Participation: How many liquidity miners have staked TELx liquidity?
    Proportional Equivalence: Are TELx harvesting rules suitable to TELx Network conditions? Are the benefits obtained by TELx miners proportional to the amount of inputs required in the form of labor, material, or money?

    View Diagram