Governance

Governance

Council Members: Eligibility and Authorization Rules

All miners who are elected by their Miner Group and possess a governance NFT may participate as Council Members.

Council Members Eligibility Rules: Required 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.

    • Council Member Authorization Rules: Conditions for Participation

    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.
  • Rules for Maintaining Position: The rules for how a Council Member may continue harvesting TEL issuance from the Platform.
    • Council Member Authorization Process: Within thirty days of being selected, new Council Members must submit the following information to the Compliance Council to be verified, or else the Compliance Council may instruct the TAO to revoke their NFT and vote on behalf of their Miner Group until a replacement is chosen.
      • 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.
  • Exit Rules: The rules for how a Council Member may or must exit their position
    • 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.