Council Members: Harvesting Rules
Council Members: TEL Harvesting Rules
Council Members are elected officials who represent their Miner Group’s interests on Miner Councils in decision-making processes that set, enforce, and refine the operational rules for interacting with the Telcoin Platform.
When Council Members are elected by Miner Groups, an NFT is transferred to their wallet address. These Council Member NFTs empower their holders with proposal and voting authority within their domain and receives an automated stream of TEL issuance that is allocated equally to all Council Members.
The Platform and Treasury Council set and enforce Council Member TEL harvesting rules using the TELIP process.
Council Member Harvesting Rules: Overview
- Actor | Activities | Y1 Allocation | Basis
- Council Members | Participate in collective-choice processes that set the rules for interacting with the Platform and monitor, enforce those rules. | 30,000,000 TEL | Each Council Member receives an equal amount of TEL each block in which they own a Governance NFT.
Position Rules
Overview
There are a total of 33 Council Member and TAO Members who harvest TEL issuance from the Platform, including:
- Platform Council: 8 members, balanced representation
- Treasury Council: 4 members, balanced representation
- TAN Council: 6 members, stakers and developers select 2 members each, liquidity miners and validators select one.
- TELx Council: 6 member, liquidity miners select 3 members, stakers, developers and validators select 1 member.
- Compliance Council: 4 members, balanced representation
- The TAO: 5 members, elected by Telcoin Holdings.
Further details: for more information about Miner Councils, review:
Eligibility and Authorization Rules
Council Members
- Attributes: The required characteristics an individual actor must possess to participate in the position of Council Member in order to harvest TEL issuance and participate in governance.
- Miner Requirements: Must currently have TEL staked in production processes as either a Staker, Developer, Liquidity Miner, or Validator.
- Location Requirements: The entity or individual must be located in a non-sanctioned country according to the United States OFAC/FINCEN sanctions list.
- Position Specific Requirements: Criteria determined by individual Miner Groups using the TRIP process.
- Conditions: The actions an individual must take to enter, maintain, and exit the position of Council Member in order to harvest TEL issuance and participate in governance.Entry Rules: The conditions that must be met in order to an individual to enter the position of Council Member.
- Elections and Delegations: Council Members must be selected by a Miner Group into their role through free and fair election or liquid delegation ceremonies.
- Proof of Miner: The Council Member, using processes determined by the Compliance Council, must prove they are either a developer, staker, liquidity miner, or validator.
- KYC/AML: The Council Member must undergo KYC/AML using processes determined by the Compliance Council.
- Succession: The Council Member must submit a succession notification to their Miner Group and Miner Council, informing the community that they will be exiting the position and advising their Miner Group to select a new Council Member.
- Absence: If a Council Member fails to vote on two consecutive proposals, the Compliance Council may instruct the TAO to revoke their NFT and vote on their behalf until a new Council Member is selected by the Miner Group.
Authority Rules
Council Members: Required and Authorized Actions
- Required Actions: In order to harvest TEL issuance, Council Members must:
- Council Member NFT: Possess a governance NFT as a result of elections or liquid delegation processes.
- Vote: Vote on every proposal in their domain.
- Miner Council Duties: Fulfill their duties as determined by the role of the Miner Council.
- Miner Group Special Duties: Fulfill their special duties as determined by their Miner Group.
- Authorized Actions: Council Members may harvest the following issuance allocation over time based on the formula provided below.
- Technology used: Private technologies used by Council Members to participate and harvest TEL.
- Web3 Wallet: Council Members share their wallet address when they nominate themselves for their role, and must use that address to propose and vote in governance.
- TEL: Council members must confirm their status as a miner by proving they have TEL staked for mining to the Compliance Council.
- Infrastructure involved: The technological systems Council Members interact with to participate and harvest TEL.
- Governance NFTs: Non-transferable, governance NFTs are delegated to Council Members wallet and are required in order to participate and harvest TEL
- Governance Infrastructure: The systems miners interact with the participate in Telcoin Platform governance.
- Sablier Streams: Programmable, smart contract-based distribution mechanism which distributes flows of to Council Members.
- TEL Treasury: Council member issuance originates from the TEL Treasury.
- Telcoin Network: Underlying blockchain architecture securing private property rights over digital assets and enabling on-chain protocols and applications such as TELx.
Authority over Council Member Harvesting Rules
The Platform and Treasury Councils, using the TELIP process, may alter Council Member harvesting rules at any time, and are responsible for ensuring TEL issuance is distributed according to those rules.
Maintenance and Construction Rules
Until the Platform and Treasury Council alters the arrangement using the TELIP process, the TAO will maintain existing infrastructure related to Council Member harvesting. Any new construction will need to be planned, financed and coordinated by the Platform and Treasury Council using the TELIP process.