Improvement Proposal - Exchange Listings

Council Proposals TELIP
1

Summary:

Telcoin team to explore the potential for an increased compliment of exchange listings

Specification:

The Telcoin team will directly apply to the cryptocurrency exchanges listed in the below implementation section. The Telcoin team will share details of the stages and responses received from each of the different exchanges to council members via official mediums. Once listings are confirmed, the Telcoin team will publish details to the community via the Telcoin TAO X account.

Addendum #1: Council members will be informed via official mediums if applications have already been made and are ongoing to the specified exchanges

Rationale:

KuCoin (The most popular available exchange) has been unreliable in recent months - Especially with withdrawals across the Polygon Network. This proposal is aimed at providing a wider range of options for current and potential users to transact with the Telcoin Token with focus on more exchanges that fall into the top 10 exchanges by volume

Implementation:

Telcoin Association Members Tim Mahota and/or Parker Spann will apply to the below Cryptocurrency exchanges. They will fill out the application to the most thorough standards, detailing current business structures, aspirations of the business, details of banking applications, smart contract audits, security measures and global compliance statuses etc…

OKX Listing Application
Kraken Listing Application
Crypto.com Listing Application

Transactions

It is inevitable that the listings will require Token transfer to fund Exchange wallets. The amounts are currently as of yet unknown. Engineering teams to coordinate once listings are confirmed.

8 Likes
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Hey @simoncoopss, I support your proposal in principle.

However, it should be clear who it is addressed to and who should action the listing. Specifically, Telcoin Inc. and it’s staff should not do so. Instead, the relevant council at Telcoin Association should. This distinction is critical from a compliance perspective.

You may also want to highlight the fact that earlier this year the Association entered into listing agreements and therefore this proposal is in concert with prior actions albeit more urgent.

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Hi @HodlerVaughn,

I agree with your second comment and will update the proposal accordingly to specify clarification if there are ongoing applications with the listed exchanges

In regards to the first point, I don’t agree that it falls upon a council to apply for exchange listings. This only becomes valid because the councils happen to have Telcoin Inc employees representing them.

Please let me know if I have not interpreted your comments correctly

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4

Thanks Simon,

Let me try to clarify my point:

The proposal states, “An employee of the Telcoin leadership team - namely Tim Mahota or Parker Spann will apply to the below Cryptocurrency exchanges”

This suggests that the two will action this as employees of Telcoin. To my understanding, they are employees of Telcoin Inc. not Telcoin Association. This further implies that they’d be acting on behalf I’d their employer.

My view, therefore, is that this is a Telcoin Association proposal not Telcoin Inc. If my reasoning is correct, this must be clarified otherwise it puts Telcoin Inc. in difficult position with regulations.

I hope this makes sense.

The proposal could better say “members of Telcoin Association Tim or Parker…”

Its fine details I know, but legally they matter.

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Understood @HodlerVaughn - Updated the post to reflect this wording

Thanks for your diligent input

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6

Dear @Coops,

Congratulations on submitting the first forum proposal! This is truly an exciting moment for our community. Your initiative marks a significant milestone in our journey towards collaborative governance. I want to express my sincere appreciation for your engagement and enthusiasm. Please consider this feedback as a means to guide and support, not discourage. Let’s dive into some key points to help refine your proposal and deepen our collective understanding of the Telcoin governance structure.

Important Legal & Organizational Distinctions:

  1. Telcoin Association: Our Swiss Verein, domiciled in Lugano, is the legal entity for the community to govern the Telcoin Platform. It empowers miners with legal rights, recognition and a framework for organizing our collective decision-making over the Platform, TEL, and its governance institution.
  2. Telcoin Association vs. Telcoin Inc.: It’s crucial to distinguish between these entities. The Telcoin Association is the overarching governance body for the blockchain Platform and TEL token, while Telcoin Holdings Pte. Ltd. (parent company of Telcoin Inc.) is just one member, participating as an Application Developer and leveraging the shared system as infrastructure. This distinction ensures that our community, not a single company, drives our platform’s future.
  3. Role of the TAO: Telcoin Autonomous Ops, Ltd. (TAO) is our UK-based operational arm, wholly owned by the Association. It’s responsible for implementing the community’s decisions. This separation of governance (Association) and execution (TAO) is key to our decentralized structure, allowing for community-driven decisions and professional implementation.

Clarifying Proposal Rules:

  1. Financing New Tasks: Your proposal introduces exciting new activities beyond the TAO’s current scope. For such proposals, we need to include new financing details. This ensures transparency and feasibility in our decision-making process.
  2. Assigning Tasks to Individuals: Our rules prevent assigning new duties to specific individuals without their consent. As a best practice, always consult with potential implementers before including them in a proposal. For now, let’s replace individual names with “the TAO” as the implementing body.
  3. Proposal Refinement Suggestions:
    • Remove individuals’ names (Tim Mahota and Parker Spann),
    • Add the Platform Council and Treasury Council as the voting organizations
    • Add the TAO as the implementing body
    • Engage with the Council Members, the TAO, and other Association members here on the forum, in Discord, and in the upcoming Council meetings to determine the implementation and financing details, further refine the proposal, and achieve consensus.
    • Include a detailed cost breakdown and proposed funding source.

Next Steps:

  • Platform and Treasury Council Meeting: I’m excited to explore this and other proposals in our upcoming meeting. This will be a great opportunity for collaborative discussion and refinement.

  • Research Questions to Consider:

    1. Why is this initiative beneficial for our community?
    2. What’s the proposed source of TEL for this project?
    3. What’s the estimated time and cost for implementation?
    4. How will we compensate the implementing party?
    5. What specific outcomes do we expect from this initiative and what metrics will we use to define them?

  • Compliance Reminders: Remember, forum proposals are informal starting points. They allow us to collectively explore and refine ideas before formal voting. For this proposal, we’d need approval from both the Platform Council (6/8) and the Treasury Council (4/4) via a TELIP process. The Compliance Council can veto if there are regulatory concerns, breaches in Association rules, and Constitutional mission, vision, and values.

This is an excellent starting point, @Coops. Your proposal has sparked valuable discussion about our governance process. I encourage everyone to continue engaging in these conversations – they’re crucial for building our collective knowledge and strengthening our ecosystem.

Thank you all for your dedication to the Telcoin ecosystem’s future. It’s through these collaborative efforts that we’re shaping a more robust and effective platform. I’m looking forward to seeing how this proposal evolves and to our continued discussions in our upcoming council meeting.

Let’s keep the momentum going!

Best regards,

Parker

8 Likes
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I agree with this proposal…Telcoin getting listed on American friendly exchanges will offer more exposure to Tel and opportunity for buying and liquidity…lets get this worked out and on its way for millions to have access an exchange…glad we are having this discussion…glad team is aware of this

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Suggestion. Plan a Platform and treasury meeting and gather important facts about each of the three proposed listings. Things like cost for each for a listing, minimum amount of Telcoin needed to fund each wallet and also some facts about each platform like amount of users, amount of funds flowing through them. With that info do a poll to pick one for now. Lets crawl before we walk. With one chosen, put it to each of the proper councils to get feedback and then the TAO to implement. If we see a large volume increase and it helped pick things up then we can revisit another listing after. Help from the TAO with stuff like what amount of Tel is available to play with and where it can be moved from is a definite need. With current Telcoin employees being basicly in each council, there insight on where to gather this info if not already known will be huge. Remember we are newbies at this but with a few winks and nods in the right direction we can do this!!

1 Like
9

This is a refined version of the original proposal, incorporating feedback from Parker and other council members. Please review so that we can get the ball rolling on this, ideally moving forward the TAO can set an example of how to be proactive and not waste time - @parkerspann thank you for the clarification, please continue to promptly state exactly what is needed so that we can get this done quickly.

Revised Proposal:

Improvement Proposal: Exchange Listings

Date Submitted: October 17, 2024
Originally Submitted By: @Coops
– Update by xPr0xi

Summary:

The Telcoin Association must urgently explore and secure additional exchange listings for the TEL token. This is critical to providing a broader range of reliable transaction options for current and prospective users, especially considering the recent issues with KuCoin’s services, specifically Polygon Network withdrawals. Acting swiftly will allow the community to take advantage of the current market conditions and prevent further disruptions in TEL accessibility.

Specification:

The Telcoin Association Autonomous Ops (TAO) will immediately apply to the following exchanges for TEL token listings:

The TAO will ensure that these applications are submitted with urgency, addressing all requirements promptly, including details of the Telcoin Platform’s business structure, banking applications, smart contract audits, security measures, and global compliance statuses.

The Telcoin Association will expedite updates to the Platform Council and Treasury Council on the progress, and the community will be informed via the Telcoin TAO X account as soon as listings are confirmed.

Rationale:

Given the recent operational issues with KuCoin, particularly concerning Polygon Network withdrawals, it is crucial that Telcoin acts swiftly to secure listings on more reliable, high-volume exchanges. Expanding to these exchanges will:

  • Provide immediate alternatives for users currently facing accessibility challenges.
  • Attract potential users through more stable, geographically diverse platforms.
  • Increase liquidity and transaction volume, benefiting the overall Telcoin ecosystem.

Urgency is critical to maintain user confidence and prevent further disruptions in transaction reliability.

Implementation:

  1. Responsible Entity:
    The Telcoin Autonomous Ops (TAO) will lead the execution of this proposal with immediate effect.
  1. Process:
  • TAO will prioritize the listing applications for OKX, Kraken, and Crypto.com, ensuring they are submitted and followed up on without delay.
  • Financing details, such as token transfer amounts required for exchange wallets, will be addressed immediately once listings are confirmed.
  • The Platform and Treasury Councils will be asked to expedite decision-making processes to approve resource allocation swiftly for this project.
  1. Compliance:
  • The Compliance Council will quickly review the proposal to ensure there are no regulatory concerns or breaches of the Telcoin Association’s mission and values.
  • No specific individual will be assigned tasks without consent; instead, TAO will manage the implementation process to move quickly and efficiently.

Cost and Funding Considerations:

  • The estimated costs for exchange listings will vary, and details will be gathered as soon as possible from the exchanges. A decision on funding sources from the Treasury Council should be fast-tracked to avoid delays.
  • A detailed cost breakdown for each proposed exchange will be shared immediately after the initial inquiry stage.

Responses to Key Considerations:

  1. Why is this initiative beneficial to the Telcoin community?

This initiative is critical to addressing the immediate issue of KuCoin’s unreliability. Expanding to high-volume exchanges will provide more secure and accessible options for transacting TEL tokens. Acting quickly will mitigate current challenges and enable the community to take advantage of the current market momentum. Without swift action, Telcoin risks further erosion of user confidence and market presence.

  1. What is the proposed source of TEL for this project?

TEL tokens required for exchange wallet funding and any associated fees will be sourced from the Telcoin Treasury. Given the urgency, the Treasury Council should prioritize reviewing and approving the necessary token allocations to avoid delays.

  1. What is the estimated time and cost for implementation?

The time frame will depend on the processing speed of each exchange. However, urgent submission of applications and follow-ups should minimize delays, with implementation expected to begin in weeks rather than months.

  1. Cost estimates:
  • Listing Fees: Expected to range from $50,000 to $500,000 per exchange.
  • Token Transfers: The TEL tokens required for wallet funding will be confirmed during the initial application stage, but swift coordination with exchanges will ensure minimal delay.
    A more detailed cost breakdown will be provided immediately after the initial inquiries are completed.
  1. How will we compensate the implementing party?

The TAO, as the implementing body, will move quickly to handle this process without requiring separate compensation. However, any administrative or legal costs should be covered by the Treasury, and approvals should be fast-tracked to avoid delays in moving forward.

  1. What specific outcomes do we expect from this initiative, and what metrics will we use to define them?

Expected Outcomes:

  • Immediate listings on OKX, Kraken, and Crypto.com.
  • A swift increase in trading volume and liquidity for the TEL token.
  • Rapid improvement in accessibility for users across key markets.Metrics for Success:
  • Trading Volume Growth: An increase of 10-20% within 3-6 months post-listing, with initial upticks expected in the first month due to increased exposure.
  • User Base Growth: A measurable increase in unique wallet addresses holding TEL, especially from new regions where exchange listings improve accessibility.
  • Liquidity Improvements: A reduction in bid-ask spreads and higher liquidity on new exchanges.
  • Reliability Metrics: A noticeable decrease in user complaints about transaction issues, especially on the Polygon Network.

Next Steps:

  1. Council Meetings:
  • Immediate discussions on this proposal should take place at the next Platform and Treasury Council meetings, with a focus on expediting approvals to facilitate quick implementation.
  • The councils will prioritize reviewing and approving funding sources for the necessary TEL token allocations.
  1. Poll for Prioritization:
  • A quick poll among Telcoin Association members will determine which exchange should be prioritized if only one listing can be pursued initially. The selected exchange will then move to the implementation phase immediately after council approval.

Conclusion:

Given the urgency surrounding KuCoin’s reliability issues and the potential for increased adoption and liquidity, this proposal should be acted upon with immediate effect. By securing listings on high-volume exchanges, Telcoin can quickly stabilize its accessibility and provide more secure transaction options for its community, while ensuring that the initiative is transparent, efficient, and community-driven.

Call to Action:

This proposal is open for immediate feedback and discussion. Council members are encouraged to prioritize this proposal in upcoming meetings to ensure swift execution.

2 Likes
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Great proposal :ok_hand: i fully support this. Is there a timeline already ?

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Is there a timeline already ?

@Telcoin_Juggler My edits to the initial proposal are intended to illustrate the need for urgency and the need for prompt and clear communication as to how these applications are going. Perhaps @parkerspann and other council members could demonstrate some proactivity and recognition of that urgency and begin regularly/promptly engaging with the community on this matter - this hopefully means not waiting days and weeks for replies or clarification, but so far that is not proving to be the case after Parker’s initial advice.

Guess we’ll just have to see what happens, applying to exchanges is not complicated, thousands of currencies have managed it just fine, council members can you please get the lead out and do the thing we’re asking you to do?

Is there any kind of arrangement we need to know about between Telcoin and Kucoin that would discourage or disincentivize listings on other exchanges, because it seems ridiculous that there is still feet-dragging on this matter after nearly 7 years. Surely the reasons for listing on other exchanges is obvious and now its just a matter of priority and cost?

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Would be good to get an update? or just some action - a lot of people/community been supporting this project and waiting to see it move somewhere. It is Disheartening when you see some worthless Meme coin rocket to 400 market cap just because its listed.

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This proposal was discussed in depth during the first Platform and Treasury Council Meeting on 7th November 2024 at 3PM CST. A full recording of the meeting is available here.

The conversation has also continued in the Platform-Treasury-Councils channel of the Telcoin Association Discord - here.

The main points related to this TELIP exchange proposal from the meeting were:

  • @Coops , author of this TELIP Proposal, presented the proposal to the Platform, Treasury, Compliance Council.
  • All three of the exchanges mentioned have been applied to within the past year, along with numerous others beyond this list.
  • There are external agencies who specialize in exchange listing
  • An elected member of the Platform Council works as a consultant applying to exchanges on behalf of token projects, working with exchanges to expedite the listing process, and has direct contacts at Crypto com and OKX.
  • The Platform and Treasury councils are working together to determine the best exchanges to apply to and which should be prioritised.
  • Information related to historical interactions with exchanges has been shared by TAO ecosystem development director, Rajesh Sabari, with the Platform and Treasury Councils.
  • The councils are considering engaging with agencies to expedite the listing process.
  • Rationale:
    • The TAO has been designed to contract with external providers on behalf of the Association for most external tasks because it’s easier given TAO’s limited human resources.
    • Agency’s specializations and the contingent nature of interacting with them makes them the lowest cost, highest reward, highest probability approach to successful scaling tasks in parallel.
    • We’ve applied for listing at all the aforementioned exchanges, and ultimately believe a specialist will be better suited to completing the task.
  • Community members discussed the proposal on the merit of whether or not we should be focused on exchange listings, whether or not exchanges are a positive use of our limited resources, and if instead any TEL should be allocated towards TELx and on-chain activities.
  • Discourse around centralized exchanges as on-ramps for new users and incentivizing liquidity pools on “exchange chains” (e.g. Base, Cronos, Binance Smart Chain) and how that would impact the likelihood of getting listed and solve for the on-ramp problem

Other Council topics from the meeting:

  • All Council Members introduced themselves.
  • Parker shared an overview of the Councils, the TIP, TELIP process
  • Grant, Markus, Steve provided a Telcoin Network development update:
    • Refactoring several libraries before going to audit - simplifying code, improving performance and cleanliness
    • Covering everything from database improvements, to the type of data being stored and networking.
    • Rewrite of consensus code to be much more readable and friendly to external developers.
    • Faucet was released recently and has been working smoothly - some community members also managed to help diagnose a bug.
    • Major execution upgrades included optimizing building full blocks at the worker level and reducing computational requirements of each node, which increased transaction throughput.
    • Using Narwhal as a true transaction mempool, allowing for a very efficient design.
    • Specification for the system which rotates committee members has been completed and is now under review and is currently being implemented in the code.
    • Part of the specification revealed the need for a syncing strategy for nodes to join the network. Once complete, nodes will be able to fully sync to the network’s canonical tip and validate transactions independently.
    • Advances in designing an agnostic user client which could be run by validators trying to join the network or bridging clients tracking execution and consensus results. Any user could then run a client and follow Telcoin Network blocks as they come out.
    • These points all minimize moving parts, and mean Telcoin Network is one rock solid solution.
    • Other areas of improvement were found and fixed as a result of an internal security audit prior to faucet release. These improvements allowed a reduction in trust between validating nodes.
    • Next steps for mainnet:
      • Confident in bridging solution and specifications for rotating validators joining the network and committees. These now need to be implemented.
      • Invite community to review and feedback on improvement proposals on the TNIPs site.
    • Smart Contract developments
      • Large strides have been made on the smart contract development sides, particularly with regard to bridging
      • One major achievement has been writing the consensus registry staking contract which handles validator onboarding, epoch information, the transfer of voting committees and staking information.
      • Allowing entry of MNOs to Network involves providing permissioned NFTs.
      • Consensus registry contract is also an NFT, whose minting functionality will be controlled by the governance process.
  • Discussed live streaming options across communication channels (e.g. broadcasting on X), and using the public forum to increase Telcoin’s reach.
  • When crafting a proposal, if you need guidance from the TAO::

The next Platform and Treasury Councils Meeting will be held in the ‘Recurring Council Meetings’ channel on the Telcoin Association Discord on Thursday November 21st at 3PM CDT. A link to this meeting is provided here. (Please ensure you are in the DIscord server by clicking this invite link first).

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