TLDR Release August 2024

TAO Updates August 2024
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Telcoin Association Update: August 2024 - TLDR

Introduction

The Telcoin Autonomous Ops (TAO) presents an update on the Telcoin Platform’s developments and upcoming events. Key topics include the inaugural Telcoin Association Election, Telcoin Network updates, team expansion, network testing, legal & organizational developments, and broader ecosystem news.

Release Versions

  1. Telcoin Association Release, August 2024
  2. Telcoin Association Release (Lite Version), August 2024

Key Updates

  1. TGIP-1 Implementation

    • Revised Plan: To avoid conflicts of interest, the election of council members will precede application layer TEL issuance. This ensures the Association is sufficiently organized by the community with decentralized authority to approve the rules in alignment with the Telcoin Association Constitution.

  2. Inaugural Telcoin Association Election

    • Date: September 4th, 2024 at 4:00 pm CST
    • Significance: This election marks the transfer of control over the Telcoin Platform and TEL Treasury to the community, encouraging active governance participation.
    • Nomination: Community members are encouraged to nominate themselves for council positions to influence Telcoin’s future.

  3. Telcoin Platform Overview

    • Telcoin Network: An EVM-compatible public blockchain secured by GSMA mobile network operators (MNOs) using proof-of-stake consensus.
    • TELx: A network of liquidity pools on DeFi protocols for automated self-custodial exchange.
    • Telcoin Application Network (TAN): A network of mobile applications integrated with the Telcoin Platform, providing users access to its services.

  4. Association Governance

    • Background: The Telcoin Platform, including its native token TEL, is governed by the Telcoin Association. The system is designed to establish a global blockchain network and token standard for the GSMA, mobile network operators, and their subscribers. By coordinating a global blockchain network around the telecom industry, the Telcoin Association aims to create an alternative financial system bringing blockchain finance to every mobile user worldwide.
    • Overview: Telcoin Association governance is designed to ensure broad participation across the value chain for mobile blockchain finance and community decision-making through a democratic structure.
    • Miners: Miners produce Platform services, earn fees, and “mine” TEL from the Platform. There are four distinct groups- differentiated by their unique attributes, roles, interests, and domain on the Telcoin Platform.
      • Liquidity Miners: Users provide liquidity to TELx DeFi markets
      • Stakers: Telcoin mobile application users produce Telcoin Platform adoption on TAN
      • Developers: GSMA members develop mobile applications on TAN
      • Validators: GSMA mobile networks secure the Telcoin Network blockchain
    • Miner Groups: Each Miner Group elects Council Members to the 5 Miner Councils to represent their interests in governance.
      • Liquidity Miners: Propose and vote based on their pro-rata share of staked liquidity on TELx.
      • Stakers: Propose and vote based on their pro-rata share of TEL staked on TAN by Telcoin Application users.
      • Developers: Propose and vote based on their pro-rata share of TEL staked on TAN relative to other TAN Developers.
      • Validators: Initially represented by the TAO until a quorum of 10 Validators, propose and vote based on their pro-rata share of TEL staked for PoS consensus on Telcoin Network.
    • Miner Councils: Miner Councils are democratic bodies composed of representatives from each miner group. These councils are tasked with making critical decisions regarding network upgrades, governance proposals, and the allocation of TEL.

      • Platform Council (8 members): Oversees platform-wide systems and policies.

        • Liquidity Miners: 2 Members (apply)
        • Stakers: 2 Members (apply)
        • Developers: 2 Members (apply)
        • Validators: 2 Members (apply)

      • Treasury Council (4 members): Shares authority over the TEL Treasury and token, governance infrastructure, and Telcoin Network.

        • Liquidity Miners: 1 Members (apply)
        • Stakers: 1 Member (apply)
        • Developers: 1 Member (apply)
        • Validators: 1 Member (apply)

      • TAN Council (6 members): Governs the Telcoin Application Network (TAN).

        • Stakers: 2 Members (apply)
        • Developers: 2 Members (apply)
        • Liquidity Miners: 1 Member (apply)
        • Validators: 1 Member (apply)

      • TELx Council (6 members): Governs the TELx network.

        • Liquidity Miners: 3 Members (apply)
        • Stakers: 1 Member (apply)
        • Developers: 1 Member (apply)
        • Validators: 1 Member (apply)

      • Compliance Council (4 members): Manages compliance, legal matters, conflict resolution, and authorizations.

        • Liquidity Miners: 1 Member (apply)
        • Stakers: 1 Member (apply)
        • Developers: 1 Member (apply)
        • Validators: 1 Member (apply)

  5. Telcoin Network

    • Team Expansion and Innovations
      • New Hires: A Protocol Engineer and a Smart Contract Engineer to enhance network performance and security.
      • Collaborations: Ongoing partnerships with DexGuru for tools like the Adiri Block Explorer and DeFi Swap Interface.
    • Roadmap and Mainnet Preparation
      • Bridging Solution: Working with Axelar relayers for secure bridging.
      • Native Token Implementation: Using TEL for speed and reliability.
      • Validator Shuffling: Ensuring secure and scalable solutions.

  6. Ecosystem Development

    • Ecosystem Partnerships: Engagements with GSMA, central banks, and crypto firms to expand Telcoin’s reach, standardize the Platform, and boost mobile network adoption. The goal: connect every mobile user globally to blockchain-powered payments, finance, and web3 services.

  7. Legal and Organizational Updates

    • Swiss Verein: Establishing the Telcoin Association as a Swiss verein in Lugano for legal structure and community self-governance- with commercial registration filed and approved.
    • TAO Creation: As of August 16th, 2024, Telcoin Autonomous Ops Ltd. is officially incorporated in the UK, enabling the Association to operationalize its decisions into action in the real world.
    • Telcoin Association Discord: Releasing Telcoin Association Discord to the community, and announcement of the first Telcoin Town Hall on August 28th at 4:00 pm CST.

  8. Budget and Financial Overview

    • Detailed financial allocations for Telcoin Network (TN), TELx, and TAN, including budget updates for 2024.

  9. Election Process and Nomination Instructions

    • Nomination Period: Until September 3, 2024
    • Voting: September 4 at 4:00 PM CST to September 11, 2024
    • Results Verification: September 11 - October 10, 2024

Next Steps

  1. Review Miner Groups and Councils: Align your skills and interests with the appropriate group and council.
  2. Submit Nomination: Use the relevant forum link below.
  3. Participate in Elections: Engage in the voting process to influence Telcoin’s governance.

Running for Office

We are excited to embark on this journey together and look forward to your active participation in shaping the future of Telcoin. Your involvement is crucial to our collective success and innovation in the blockchain finance space. Nominate yourself for a position on any of the Miner Councils to actively participate in the governance and future of the Telcoin Platform. Ensure your voice and interests are represented, apply on the Association Forum now!

Closing Remarks

The Telcoin Association looks forward to the community’s active participation in shaping the future of Telcoin, emphasizing the importance of collective effort for success and innovation in blockchain finance.

Related Documents and Sites

  1. Telcoin Association Release, August 2024
  2. Telcoin Association Release (Lite Version), August 2024
  3. Nomination Instructions
  4. Association Forum
  5. Association Documentation
  6. Association Discord