Miners
Miners: Eligibility and Authorization Rules Overview
The required attributes and conditions for entering, maintaining and exiting Miner positions varies across roles.
Miners: Eligibility and Authorization Rules
Introduction
Each Miner Group is distinct in terms of the required attributes and conditions for entering, maintaining and exiting their position and their rights to harvest TEL issuance and participate in Telcoin Platform governance.
TAN
Application Developers are GSMA members who have been approved by the Compliance Council and stake TEL in TAN incentives contracts, while Stakers are Telcoin mobile application customers who integrate another Telcoin user’s referral code and stake TEL in TAN incentives contracts.
TELx: Miners Eligibility and Authorization Summary
Liquidity Miners are individuals and businesses who provide liquidity to TELx markets and stake it in TELx staking contracts.
Telcoin Network: Miners Eligibility and Authorization Summary
Validators are GSMA Operator Member, Mobile Network Operators who have been approved by the Compliance Council and stake TEL for proof-of-stake consensus (PoS) on Telcoin Network.
Table Overview: Required Attributes and Conditions for Entering, Maintaining, Exiting Miner Positions
| Miners | Required Attributes | Registration Process | On-going requirements | Exit |
|---|---|---|---|---|
| Developers | Org Requirements: All GSMA Members are eligible to participate. Location Requirements: The entity must be located in a non-sanctioned country according to the United States OFAC/FINCEN sanctions list. | 1. Forum Proposal: Developer Authorization proposal to the Telcoin Forum. 2. Compliance Council Improvement Proposal (”CCIP”): The TAO proposes the Developer to Compliance Council 3. Authorization: Compliance Council affirms proposal. 4. Proof of Alignment: Stake TEL from governance-authorized wallet address. 5. Deployment: Deploy a TAN mobile application. | Proof of Alignment: Developers must maintain a staked TEL balance from their governance-authorized wallet address in order to continue harvesting TEL issuance from Telcoin Application Network (”TAN”) and to participate in governance. Application Requirements: Mobile Application must adhere to Application Infrastructure standards. | Unstake TEL: Developers may exit their position at any time by removing their entire staked TEL balance. Sanctions: The Compliance Council may sanction Developers for failing to adhere to application infrastructure standards by revoking their right to vote and harvest TEL issuance after multiple repeated offenses in a graduated manner according to the seriousness of the transaction. |
| Merchant Stakers | Org Requirements: All corporate or similar entities (e.g. trusts) are eligible to participate as Merchant Stakers. Location Requirements: The entity must not have primary jurisdiction location in a sanctioned country according to the United States OFAC/FINCEN sanctions list. | 1. Sign-up: Download and register on a Telcoin application and complete Know Your Customer (”KYC”) requirements. 2. Network Connection: Integrate another user’s referral code in their mobile application. 3. Proof of Alignment: Stake TEL on TAN from their Telcoin mobile application wallet. | Proof of Alignment: Stakers must maintain a staked TEL balance in order to continue harvesting TEL issuance from TAN and to participate in governance. User Account: Stakers must interact from a user account on a registered Telcoin mobile application. | Unstake TEL: Stakers may exit their position at any time by removing their entire staked TEL balance. Account Termination: Users who voluntarily or otherwise terminate their TAN mobile application account may not participate as a staker until their account is reinstated. |
| Retail Stakers | Org Requirements: All natural, individual persons, not businesses or similar entities, are eligible to participate. Location Requirements: The participant must not reside in a sanctioned jurisdiction according to the United States OFAC/FINCEN sanctions list. | 1. User Sign-up: Download and register on a Telcoin application and complete KYC. 2. Network Connection: Integrate another user’s referral code. 3. Proof of Alignment: Stake TEL on TAN from their Telcoin mobile application wallet. | Proof of Alignment: Stakers must maintain a staked TEL balance in order to continue harvesting TEL issuance from TAN and to participate in governance. User Account: Stakers must interact from a user account on a registered Telcoin mobile application. | Unstake TEL: Stakers may exit their position at any time by removing their entire staked TEL balance. Account Termination: Users who voluntarily or otherwise terminate their TAN mobile application account may not participate as a staker until their account is reinstated. |
| Liquidity Miners | None, anyone can participate as long as they are not sanctioned according to the United States OFAC/FINCEN sanctions list. | 1. Liquidity Provision: Provide liquidity to TELx markets. 2. Proof of Liquidity: Stake TELx liquidity provider tokens (LPTs) in TELx incentives contracts. | Proof of Liquidity: Liquidity Miners must maintain a staked TELx liquidity position in order to continue harvesting TEL from TELx and to participate in governance. | Unstake TELx Liquidity: Liquidity Miners may exit their position at any time by removing their liquidity from TELx staking contracts. |
| Validators | Org Requirements: All GSMA Operator Member, Mobile Network Operators may participate. Location Requirements: The entity must be located in a non-sanctioned country according to the United States OFAC/FINCEN sanctions list. | 1. Forum Proposal: Validator Authorization proposal to the Telcoin Forum. 2. CCIP: The TAO proposes the Validator to the Compliance Council. 3. Authorization: Compliance Council confirms (or rejects) the proposal. 4. Proof of Stake: Validator stakes TEL for proof-of-stake consensus (PoS) and begins producing blocks. | Proof of Stake: Validators must have a staked TEL balance for PoS at all times to continue harvesting TEL from Telcoin Network and to participate in governance. | Unstake TEL: Validators may exit their position at any time by removing their entire staked TEL balance. |