Governance

Governance

Council Member Authorizations

Newly selected Council Members must follow the Authorization Process to maintain their position of authority, including providing proof of being a miner and undergoing KYC/AML as determined by the Compliance Council. Failure to do so within 30 days will result in revocation of their governance NFT and substitution by the TAO until a new Council Member is selected.

Summary

All newly elected Council Members must undertake the following process to formally enter their position of authority. The Compliance Council is responsible for creating and administering Council Member verification, authorization, and sanctions, and may alter the following process at its discretion using the CCIP process.

Authorization Process

After being elected into Council Member positions by the community of Miners, Council Members must complete the following process within 30 days to formally enter their role. Failure to do so will result in revocation of the Council Member's governance NFT and substitution by the TAO until the community selects a new Council Member.

1. Proof of Miner: The Council Member must provide social or cryptographic proof that they are a miner using processes determined by the Compliance Council, and in the first election, the TAO.

2. Know Your Member (KYM) Process: The Telcoin Association's operations subsidiary, Telcoin Autonomous Ops, Ltd. (TAO), will conduct a Know Your Member (KYM) process, which includes identity verification and background checks. The process is as follows:

a. Identification Submission:

  • If not currently onboarded on the Telcoin App, download the app and complete the KYM process through it.
  • If already an onboarded user, submit the following information to compliance@telcoin.org:
    • Full legal name
    • Phone number including country code
    • A copy of the nomination application
    • Email address
    • Wallet Address (must be a Polygon network compatible web3 wallet)

    • b. Verification:

  • The TAO Chief Compliance Officer (CCO) or delegate will verify the council member's identity and investigate their background.
  • A record of this investigation will be kept by the TAO.

    • c. KYM Determination: The TAO CCO or delegate will determine if the council member passes KYM.

  • If the council member passes KYM:
    • The council member will receive and must sign the Telcoin Association Code of Conduct.
    • The TAO CCO will notify both the council member and the Telcoin Association Compliance Council of the KYM result.
  • If the council member does not pass KYM:
    • The TAO CCO will notify the Telcoin Association Compliance Council.
    • The Compliance Council (or their delegate) will revoke the council member's voting NFT.
    • The council member may request reasons for the decision and supply additional information for reconsideration, which the Telcoin Association and/or TAO may consider in its reasonable discretion.

    • 3. Ongoing Compliance: The Telcoin Association and/or TAO may conduct periodic re-KYM on Council Members throughout their service.

    Important Notes

  • The KYM process must be completed within 30 days of election.
  • Council Members are encouraged to reach out to compliance@telcoin.org with any questions or concerns.
  • The wallet address provided must be a Polygon network compatible web3 wallet, not a Telcoin wallet address, as it will be used publicly for voting and NFT ownership.
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