Governance
Council Rules: Overview
The following section provides a descriptive summary of the Council Rules, including Council Member Selection and Miner Council Decision-making Rules.
Council Rules structure the collective-choice level of authority, or the level of governance in which the operational rules structuring everyday activities are set and refined.
Miner Groups select Council Members to represent their interests on Miner Councils, and Miner Councils participate in decision-making processes that set and refine the operational rules for interacting with the Telcoin Platform(e.g. the rules for harvesting TEL) and in social processes(e.g. communication and information rules).
Overview
The following section provides an overview of the Telcoin Platform governance system collective-choice rules, which include the:
Council Member Selection Rules: Voting and Representation Rules
| Voters | Eligibility Requirements | Voting Rules | Representation Rules |
|---|---|---|---|
| Stakers | All registered Stakers on a Telcoin mobile app with a staked TEL balance at the time of the election or delegation proposal may vote. | • Power: Staked TEL on TAN from Telcoin mobile app user wallets. • Approval: Plurality, the candidate(s) with the most votes win. • Quorum: 20% • Duration: 7 days • Channel: telcoinstakervote.eth | • Platform Council: 2 • Treasury Council: 1 • TAN Council: 2 • TELx Council: 1 • Compliance Council: 1 |
| Developers | All registered Developers with a staked TEL balance at the time of the election or delegation proposal may vote. | • Power: Staked TEL on TAN from authorized Developers wallets. • Approval: Plurality • Quorum: 20% • Duration: 7 days • Channel: telcoinappvote.eth | • Platform Council: 2 • Treasury Council: 1 • TAN Council: 2 • TELx Council: 1 • Compliance Council: 1 |
| Liquidity Miners | Anyone with a staked TELx LPT position at the time of an election or delegation proposal may vote. | • Power: Staked TELx LPTs containing TEL tokens. • Approval: Plurality • Quorum: 20% • Duration: 7 days • Channel: telxvote.eth | • Platform Council: 2 • Treasury Council: 1 • TAN Council: 1 • TELx Council: 3 • Compliance Council: 1 |
| Validators | All registered Validators may vote if they have a staked TEL balance for validation and there are 10 or more authorized, block producing nodes on Telcoin Network, or else the TAO will vote on their behalf. | • Power: Staked TEL from authorized Validator vaults. • Approval: Plurality • Quorum: 20% • Duration: 7 days • Channel: telcoinvalidatorvote.eth | • Platform Council: 2 • Treasury Council: 1 • TAN Council: 1 • TELx Council: 1 • Compliance Council: 1 |
Council Member Selection Rules: Elections
| Elections | Rules |
|---|---|
| Description | Annual ceremony in which all four Miner Groups elect all Council Members. |
| Frequency | Every 12 months |
| Duration | 7 days |
| Nomination Rules | Candidates submit only one nomination application to the Telcoin forum at most 1 month and at least 24 hours prior to the election. |
| Proposal Rules | TAO Members must submit election proposals for every Miner Council to every Miner Group including all eligible candidates from the past month, or else the existing compliance council must revoke their NFTs and administer the election. In addition to the Miner Assembly, the Platform Council may alter how elections are coordinated and by who or what decentralized technology using the TIP process. |
| Voting Rules | All four Miner Groups elect all of their representatives into Council Members positions in five separate election proposals on each Group’s Snapshot. |
| Approval | Plurality, the candidate(s) with the most votes win. |
| Quorum | 20% |
| Outcome | The candidates with the most votes win and are transferred Council Member governance NFTs, conferring them proposal, voting authority and a flow of TEL issuance. In the event a quorum is not reached on any given election proposal, the TAO will vote on behalf of the Miner Group until a quorum is met. |
Council Member Selection Rules: Liquid Delegations
| Delegations | Rules |
|---|---|
| Description | Special election ceremonies in which Miner Groups replace their existing Council Members with new representatives. |
| Frequency | Miners may submit liquid delegation proposals anytime outside of an election window. |
| Duration | 7 days |
| Nomination Rules | Must submit a nomination application to the Telcoin forum at most 6 months and at least 24 hours prior to the proposal. |
| Proposal Rules | A miner with 2% of their Group’s voting power or a TAO member submits at least two candidates to the Miner Group’s snapshot: a replacement candidate(s) from the forum and the existing Council Member. In addition to the Miner Assembly, the Platform Council may alter how delegations are coordinated and by who or what decentralized technology using the TIP process. |
| Voting Rules | The Miner Group votes for the Council Member(s). |
| Approval | Plurality, the candidate(s) with the most votes win. |
| Quorum | 20% |
| Outcome | The candidate with the most votes either retains or is transferred a Council Member governance NFT, conferring them proposal, voting authority and a flow of TEL issuance. |
Miner Council Decision-making Rules
| Councils | Representation | Process, Domain of Authority | Decision-making Rules |
|---|---|---|---|
| Platform Council | Platform Council · Members: 8 · Representation: Balanced across all four Miner Groups. | Telcoin Improvement Proposal (TIP) Platform-wide rules including communication and information, compliance, legal and organizational rules. | Proposal Authority: Platform, Treasury, Compliance Councils, TAO Approval: 6 out of 8 Quorum: 100% Duration: 120 hours Channel: telcoinplatformcouncil.eth |
| Platform Council, Treasury Council | Platform Council · Members: 8 · Representation: Balanced across all four Miner Groups. Treasury Council · Members: 4 · Representation: Balanced across all four Miner Groups. | TEL Improvement Proposal (TELIP) Platform-wide rules that involve the TEL Treasury, TEL token contract, Telcoin Network, the Telcoin Association Constitution, and governance infrastructure. | 1. Platform Council: Must approve before submitting to the Treasury Council Approval: 6 out of 8 Quorum: 100% Duration: 120 hours Channel: telcoinplatformcouncil.eth 2. Treasury Council: Must vote after the Platform Council has affirmed. Approval: 4 out of 4 Quorum: 100% Duration: 72 hours Channel: telcointreasurycouncil.eth |
| TAN Council | TAN Council · Members: 6 · Representation: Stakers: 2 reps Developers: 2 reps Liquidity Miners: 1 rep Validators: 1 rep | Telcoin Application Network Improvement Proposal (TANIP) TAN operational rules including allocation, harvesting, planning and financing, information, communication. | Proposal Authority: TAN Council, TAO Approval: 5 out of 6 Quorum: 100% Duration: 120 hours Channel: telcointancouncil.eth |
| 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 |
| Compliance Council | Compliance Council · Members: 4 · Representation: Balanced across all four Miner Groups. | Compliance Improvement Proposal (CCIP) Authority • Veto authority over all Miner Council proposals • Compliance, • Legal and Organizational, • Conflict Resolution, • Actor Authorizations | Proposal Authority: TAO, Compliance Council Approval: 3 out of 4 Quorum: 75% Duration: 72 hours Channel: telcoincompliancecouncil.eth |