Miners

Miners

Stakers: Platform Activities and Benefits

Stake TEL from a Telcoin mobile application, market Telcoin to their payments network by sharing their unique referral code, earn a percentage of their referred users’ fees, and harvest TEL from TAN based on their network’s adoption of the Platform and the quantity of TEL they have staked on TAN.

Stakers: Platform Activities

Role: Telcoin Platform adoption, producing new users and platform volume.

  • Activities: Stake TEL from a Telcoin mobile application, market the service by sharing their referral code with their payment network, and establish the Telcoin Platform as infrastructure for settling payments and accessing other blockchain-based goods and services.
    • Stake TEL: Deposit TEL in Telcoin Application Network (TAN) staking contracts from their Telcoin mobile application wallet address, which determines their TEL earning power and political power in governance processes.
    • Marketing: Market Telcoin to new users by sharing their unique referral code with their networks in order to drive user adoption, earn TEL rewards, and establish payment relationships with their network using the Telcoin Platform as infrastructure.

    • Stakers: Platform Benefits

    TEL Fees: Income from referral fees

    Referral Fees: Stakers earn a percentage of all of their referred users’ transaction fees, distributed in real-time, in TEL, based on the quantity of TEL they have staked.

    TEL Issuance: Income from TEL issuance on Telcoin Application Network.

  • TEL Adoption Issuance: Merchant and Retail Stakers harvest from separate flows of TEL issuance based on adoption metrics as determined by the TAN Council.
      Merchant Stakers: Individual merchants compete against each other to harvest TEL.
      Retail Stakers: Individual retail stakers compete against each other to harvest TEL.
  • Maximum Weekly TEL Issuance: Stakers may mine their accrued weekly issuance if their total staked TEL balance throughout the entire week is greater than their lifetime issuance earnings plus issuance income during the week.
    • Formula: Total staked TEL > (TEL issuance income/ lifetime + TEL issuance income/ current week)
  • Excess TEL Issuance: Any excess TEL which has not been mined from TAN due to lack of staked TEL will be distributed back to the TAN Council safe to be allocated by the TAN Council.

    • Stakers: Technology used

    The private technologies Stakers use to interact with the system.

  • 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.
  • 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.
  • 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.

    • Stakers: Infrastructure Involved

    Stakers interact with and depend on the following Telcoin Platform components to produce and consume platform services and earn benefits.

    ComponentDescription
    TAN Application Infrastructure

    Mobile application systems that are required to be put into place and maintained by Developers for users.    		Telcoin Mobile Application: iOS or Android mobile applications built on the Telcoin Platform including

    User Interface to the Telcoin Platform: An intuitive interface and system connected to TELx and Telcoin Network services.

    Banking Infrastructure: Including at least one-fiat on and off-ramp for stablecoins.

    Staker Capabilities: Staker production, harvesting, and governance functionality in place for users to participate as stakers.

    Secure-Self Custody Implementation: a secure, multi-signature or multi-party computation wallet implementation for users.

    Trade Router: Connecting the app to TELx markets for exchange.

    KYC/AML systems: Verifying the identity of users to ensure 1 user 1 account and compliance with local laws
    TAN Network Infrastructure

    The technological systems involved in the creation, storage, distribution, and extraction of TEL issuance and other benefits on TAN, managed by the TAN Council.    		Storage Facilities: TAN Council and TAN Distribution gnosis safes

    Distribution Facilities: TAN Council Telcoin-Distributor, TAN Issuance Calculation Script

    Extraction Facilities: Staking contracts
    TAN Platform Infrastructure

    The underlying blockchain systems that TAN depends on to function.    		TELx: Miners and consumers at the application layer depend on TELx and other adjacent markets to supply and service exchange demand with liquid, decentralized financial markets.

    Telcoin Network: Telcoin network serves as the execution and settlement layer for application layer users. The blockchain enables application users to transfer assets through a peer to peer network, to transact peer to contract using on-chain programs (”smart contracts”), and to verify their ownership and transaction history at any time by accessing the open, immutable, distributed ledger the network generates.

    Adjacent Markets: The other blockchain networks, liquidity pools, and other adjacent markets on the Platform serving as infrastructure for Telcoin mobile applications to offer products to their customers.