Miners

Miners

Technology Used

Stakers use TEL to consume platform services, stake TEL as a production input, earn TEL rewards for producing adoption, and use staked TEL as political power in governance. They participate from their mobile devices using a Telcoin mobile application, and use their unique referral code to market the system to new users.

Stakers: Technology used

Stakers use TEL to consume platform services, stake TEL as a production input, earn TEL rewards for producing new users and volume, and use staked TEL as political power to propose and vote in governance. They interact with the Telcoin Platform and governance system from their mobile device using a Telcoin mobile application, and share their unique referral code with new users to market the system, earn TEL referral fees, harvest TEL issuance from Telcoin Application Network (TAN).

Stakers: TEL utility

  • TEL Consumption Use: Stakers exchange TEL for other assets using TELx, use TEL to settle payments, to access other blockchain products available to mobile users, and use TEL to pay gas fees on Telcoin Network in order to have all of their transactions included in blocks and secured to the blockchain.
  • TEL Production and Harvesting Use: Mobile application users must stake TEL on TAN to participate in the role, the quantity of TEL staked by an individual participant determines their earning power. They earn referral fees in TEL and harvest TEL issuance from TAN.
  • TEL Earning Power: The quantity of TEL staked by a participant determines the quantity of TEL that is available for them to harvest from TAN.
    • Maximum weekly TEL issuance: Stakers may mine their accrued weekly TEL issuance from TAN if their:

        Total staked TEL > (TEL issuance income/ lifetime + TEL issuance income/ current week)

    • TEL Referral fee rate: The quantity of TEL staked by an individual actor outputs a referral fee rate that determines what percentage of their referred users’ transaction fees they earn. Additionally, stakers earn referral fees in TEL and harvest issuance in TEL.
  • TEL Revenue
    • TEL Fees: Stakers harvest TEL from TAN and earn a percentage of their referred users’ fees in TEL. If their referred user transacts and pays a transaction fee in a token other than TEL, the referral fee first exchanges for TEL on TELx then distributes to the staker, all in the same transaction.
    • TEL Issuance: Stakers harvest TEL issuance from TAN staking contracts.
  • TEL Governance Use
    • Political Power: Stakers’ power within their Miner Group in Telcoin Platform governance is based on their pro-rata share of TEL staked on TAN by all mobile users. This influences their proposal and voting power in Council Member selection processes and constitutional-choice decisions that affect that governance system rules.

    • Stakers: Storage and Access technologies

  • Mobile phone, Telcoin Application: Stakers access, store and participate in all interactions with the system using a Telcoin mobile application from their unique, multi-signature wallet on either an iOS or android mobile devices.

    • Stakers: Production and Harvesting Technologies

  • Referral codes: Stakers market the platform and refer users to their network by sharing their unique referral code, which can be shared via QR code or a link. In order to participate, Stakers must first enter an existing user’s referral code.
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