Interactions and Outcomes

Interactions and Outcomes

TELx: TEL Harvesting Activities and Benefits

TEL harvesting levels on TELx of Liquidity Miners.

TELx TEL Harvesting 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.

Contextual Factors

  • TELx and TEL: Characteristics of the TELx system and the TEL benefits it generates.
  • Attributes of the Actors: The attributes of the community of TELx TEL 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.

    • TELx Governance System: Relationship to Harvesting Activities

    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 Harvesting Levels: Interactions

    MinerActivitiesY1 TEL Allocation Basis for Income
    Liquidity MinersDeFi Liquidity Provision
    Provide liquidity to TELx DeFi markets and enable users to exchange their assets in a decentralized, automated, self-custodial manner.

    Stake Liquidity on TELx
    Stake TELx liquidity provider tokens (LPTs) in TELx staking contracts to harvest TEL.    		Total: 200,000,000
    Flow: 16,666,666.66 per month    		Basis for Income
    Pro-rata share of liquidity staked on TELx over time.

    TELx: TEL Harvesting Activities

    MarketProtocolIssuance AllocationTime SlotsBasis for AllocationMechanism
    TEL/USDC 80:20Balancer V2 (Polygon)2,777,777.78Per calendar monthPro-rata share of staked liquidityTELx Staking Contract
    TEL/BAL 80:20Balancer V2 (Polygon)2,777,777.78Per calendar monthPro-rata share of staked liquidityTELx Staking Contract
    TEL/DFX/USDC 40:40:20Balancer V2 (Polygon)2,777,777.78Per calendar monthPro-rata share of staked liquidityDFX Staking Contract
    TEL/WETH 80:20Balancer V2 (Polygon)2,777,777.78Per calendar monthPro-rata share of staked liquidityTELx Staking Contract
    TEL/WMATIC 80:20Balancer V2 (Polygon)2,777,777.78Per calendar monthPro-rata share of staked liquidityTELx Staking Contract
    TEL/WBTC 80:20Balancer V2 (Polygon)2,777,777.78Per calendar monthPro-rata share of staked liquidityTELx Staking Contract

    Outcome Indicators

    Evaluative Criteria

    General Performance Indicators

  • Liquidity: Total liquidity provided to the TELx marketplace and in each market over time.
  • Staked Liquidity: Total liquidity provided to the TELx marketplace and staked by liquidity miners over time.
  • Number of Actors: Number of users, liquidity miners over time
  • Volume: Total volume transacted through the TELx marketplace and in each market over time.
  • Fees: Total fees paid to liquidity miners over time

    • 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?

  • Indicators: Renewability Formula
    • (Total TEL burned on TELx - Total TEL issued to TELx)/time
    • Note: The total TEL burned on Telcoin Network replenishes in proportionate quantity to the TEL Treasury to be harvested by future generations of miners.
    • Definition and Importance

    Participation

    How many liquidity miners have staked TELx liquidity, are voting, how many markets are spread across?

    Definition and Importance

    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?

  • Indicators: Harvesting rules restricting time, place, technology and/or quantity of TEL units are related to local conditions. The benefits obtained by users from TELx, as determined by harvesting rules, are proportional to the amount of inputs required in the form of labor, material, or money, as determined by provisioning rules.
    • Issuance Harvesting: Total issuance harvested < total fees
    • Fiscal Equivalence: Total costs to produce improvements < total fees
    • Definition and Importance

    View Diagram