Platform
TAN: TEL Production
500M TEL distributes from the TEL Treasury to TAN in year 1 to be allocated by the TAN Council, harvested by Developers and Stakers, and used to finance system improvements and maintenance.
TAN: TEL Treasury Distribution Rate
Definition: The number of TEL units distributed from the TEL Treasury to TAN over time.
Overview
TEL distributes from the TEL Treasury to TAN at an annual rate to be allocated by the TAN Council to be harvested by Developers, Stakers and to finance system improvements and maintenance.
As a result of TGIP-1, an initial issuance will be distributed from the Treasury as an airdrop to TAN to commence harvesting by miners prior to the first election.
Additionally, a Sablier stream of TEL will flow from the Treasury to the system at the following rates over time. The Platform and Treasury Council may alter these levels using the TELIP process at any time.
Table 1: TAN TEL Treasury Distribution Rate
| Component | Mechanism | Y1 | Y2 | Y3 |
|---|---|---|---|---|
| TAN Distribution Safe | Airdrop | 125M | ||
| TAN Council Safe | Sablier stream | 375M | 459M | 392.85M |
TAN: TEL Issuance Rate
Definition: The number of TEL units generated by TAN to staking contracts to be harvested by developers, stakers over time based on current rules.
Overview
TEL flows within TAN from TAN safes to staking contracts to be harvested by miners at pre-determined levels, which may be altered by the TAN Council using the TANIP process at any time.
Table 2: TAN TEL issuance rate
| Component | Mechanism | Y1 | Y2 | Y3 |
|---|---|---|---|---|
| TAN Distribution Safe | Airdrop | 9,615,384.615 TEL per week in Q1 | ||
| TAN Council Safe | TAN Staking Management Automation Module | 9,615,384.615 TEL per week in Q2, Q3, Q4 | 8,826,923.075 TEL per week | 7,554,807.69 TEL per week |
TAN: TEL Harvesting Levels
Definition: The number of TEL units available to be harvested from the system by miners over time.
Developers and Stakers harvest TEL from Telcoin Application Network (”TAN”) based on their user base’s adoption of the Telcoin Platform according to rules that are set, enforced, and refined by the TAN Council.
| Miner | Y1 TEL Allocation Formula | Basis Formula for Income |
|---|---|---|
| Developers Application Developers compete to harvest TEL from TAN based on their customer base’s adoption of the Telcoin Platform. | Annual: 166.66M TEL Flow: 3,205,128.205 TEL per week | Their mobile application’s pro-rata share of (referral fees paid to stakers plus TELx exchange fees plus Telcoin Network gas fees paid) vs other Developers each week |
| Merchant Stakers Corporate Telcoin mobile application customers who participate as stakers compete to harvest TEL based on their network’s adoption of the Telcoin Platform. | Annual: 166.66M TEL Flow: 3,205,128.205 TEL per week | Pro-rata share of their (transaction fees paid plus their referred users’ transaction fees paid) vs other Merchant Stakers each week |
| Retail Stakers Individual Telcoin mobile application customers who participate as stakers compete to harvest TEL from TAN based on their network’s adoption of the Telcoin Platform. | Annual: 166.66M TEL Flow: 3,205,128.205 TEL per week | Pro-rata share of their (transaction fees paid plus their referred users’ transaction fees paid) vs other Retail Stakers each week |
- Maximum TEL Available: Stakers and Developers may mine their accrued weekly TEL issuance if their total staked TEL balance throughout the entire week is greater than their lifetime TEL issuance earnings plus issuance income during the week.
- Excess TEL Use: Any excess TEL which has not been mined from TAN during the week will be distributed to the TAN Council safe to be allocated by the TAN Council.