Platform
TAN: Application Infrastructure
The mobile application systems that are required to be put into place, maintained, governed by Developers according to standards which are set by the TAN Council.
Application Infrastructure
Summary
The following components are native to each individual Telcoin mobile application and operated, maintained, and upgraded by Application Developers (”Developers”). Developers are required to ensure each of these components are fully functional within a year in order for them to continue mining issuance.
Application Infrastructure
| Component and Function | Specification and Rationale |
|---|---|
| Mobile App Applications enabling users to access the platform from their mobile devices. | • Specification: iOS and Android mobile Financial Applications built on the Telcoin Platform stack with a user interface for exchange, transfer, and storage products. • Rationale: Provides a secure and intuitive mobile application interface, enabling users to transact easily on the Telcoin Platform and access its suite of products. |
| Banking Infrastructure Fiat on/off ramps, domestic and global fiat payment rails. | • Specification: Enables users to exchange local currency for on-chain fiat-backed stablecoins and supports domestic and global fiat transfers. • Rationale: Facilitates seamless conversion of local currency into on-chain stablecoins for easy transacting. Allows users to transfer money domestically and internationally using traditional banking systems. |
| Multi-signature wallet implementation Each Telcoin application includes a 2 for 3 multi-signature wallet for each user to store their assets. | • Specification: Provides each user with a 2-of-3 multi-signature wallet, with signers including the user, the Developer, and a neutral third-party key manager. • Rationale: Enables secure self-custody and transaction of cryptoassets without the need to generate and manage private keys individually. |
| Trade Router API connecting application users to DeFi on TELx. | • Specification: Utilizes 1inch API, 0x API, or an in-house system to route trades through DeFi liquidity pools across TELx protocols and markets. • Rationale: Allows users to achieve optimal execution rates by routing trades through various DeFi protocols without relying on centralized order matching or market making engines. |
| Referral Fee Router Referral fee distribution and buy-back mechanism. | • Overview The buy-back system has multiple steps. When a user performs a swap, if this user has been referred by another Telcoin user, the person who referred them (the ”staker”) will get a portion of the fees paid by the user. The more TEL the referring user has staked increases the amount of rewards they earn. If the trading with currency is TEL, the referral fee will distribute to the staker without first being exchanged. If the trading with currency is not TEL, the referral fee will first swap for TEL and distribute in TEL to the staker in the same transaction by means of the staking contract. • Specification: A routing contract is responsible for handling the multiple payloads associated with transaction. The swap payload is provided to the user’s wallet so that they may complete their trade. Upon completion, a secondary swap payload is sent to the 1inch trade aggregator in order to swap the fee currency into TEL (this is only applicable if the fee currency is not TEL). Finally, the routing contract increments the amount owed to the referrer by calling increaseClaimableBy on the StakingModule’s SimpleYieldSource and distribute the TEL to the contact. • Rationale: ◦ TELx Volume: TEL is purchased from TELx with every exchange by a referred user and distributed to the staker who referred them in real time. ◦ Productive Incentives: Rewards users who add value to the Telcoin platform via referrals. ◦ Automated / Reliable: Smart contracts ensure automatic and reliable buy-back and distribution on every swap. |
| KYC/AML System Compliance and identity verification technology. | • Specification: An approved provider according to the Compliance Council. • Rationale: Ensures compliance with global KYC/AML regulations by verifying user identities and location. |