Miners: Platform Production and Fees Overview
Miners: Production and Fees Introduction
Each miner serves a distinct function in the production of the Telcoin Platform and earns fees when consumers pay to access their services.
Miners produce Telcoin Platform goods and services and earn fees by:
- Provisioning material inputs (e.g. Liquidity Miners provide liquidity to TELx).
- Performing labor (e.g. Validators produce blocks on Telcoin Network).
- And earn fees based on the success of their individual efforts and consumer demand for their services in the marketplace.
The goods and services produced by miners across layers of the Telcoin Platform serve as complementary, material inputs for the Platform’s collective output: mobile-based, user-owned, decentralized financial products.
TAN: Miner Production Activities and Fees
Developers stake TEL on TAN, produce and operate mobile applications that connect users to the Telcoin Platform and its services, and earn transaction fees from their customers.
Stakers deposit TEL in TAN staking contracts, market the Telcoin Platform by sharing their referral code with their networks, and earn a percentage of their referred users’ fees.
- Miners | Production Activities | Fee Type and Frequency | Fee Percentage and Currency | Basis Formula for Fee Income
- Developers | Develop Telcoin Mobile Applications
Produce mobile applications on TAN that securely connect users to the Telcoin Platform and its services.
Stake TEL on TAN
Deposit TEL in TAN staking contracts from their wallet to participate. | Transaction Fees
Developers earn income from transaction fees paid by their mobile customers to access their services.
Frequency
Developers earn transaction fees each time their users transact through Telcoin products and pay fees. | Percentage
Developers determine their own fee schedules including the referral fee rate schedule for stakers.
Currency
Developers earn transaction fees in the token used to make the transaction, in TEL, or in any token of their choosing. | Formula
Transaction fee minus any referral fees earned by stakers.
Non-referred users: If the user has not been referred by a staker, the Developer earns the entire transaction fee.
Referred users: If the user has been referred by a staker, the Developer earns the trasaction fee minus any referral fees earned by the staker. - Stakers | Marketing and Platform Adoption
Share their referral code with their social, business networks in order to drive user adoption and establish the Telcoin Platform as infrastructure for settling payments and other blockchain-powered use cases.
Stake TEL on TAN
Deposit TEL in TAN staking contracts from their Telcoin mobile application wallet to participate and to determine their referral fee rate. | 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.
Frequency
Stakers earn TEL referral fees each time their referred users transact through Telcoin products and pay fees. | Percentage
Developers set their own transaction and referral fee schedules.
Currency
Stakers always earn referral fees in TEL. If the referred user pays fees in another asset, that asset will automatically buy TEL from TELx and distributes to the staker in the same transaction. | Basis Formula
The percentage staker’s earn of their referred users transaction fees, or their referral fee rate, is based on:
TEL Staked: The quantity of TEL they have staked at the time of each transaction, and
Fee Schedule: The fee schedules including the referral fee rate are by Application Developers.
The first Telcoin Mobile Application to implement referral fees has a referral fee rate range of 15-42% of transaction fees and 10-100M TEL.
TELx: Miner Production Activities and Fees
Liquidity Miners provide liquidity to TELx DeFi markets and earn fees from trades through their markets.
- Miners | Production Activities | Fee Type and Frequency | Fee Percentage and Currency | Basis Formula for Fee Income
- Liquidity Miners | DeFi Liquidity Provision
Provide liquidity to TELx DeFi markets which enable users to exchange their assets in a decentralized, automated, self-custodial manner. | Exchange Fees
Liquidity miners earn exchange fees when users exchange assets using their market.
Frequency
Liquidity Miners earn fees each exchange through their market. | Percentage
Estimated to range approximately from between 0.01%-2.50% depending on pool asset volatility and the use case. Programmed into the pool upon creation by the TELx Council.
Currency
Users pay fees in the trade with asset. | Basis Formula
Liquidity Miners earn a pro-rata percentage of all exchange fees from trades through their pools based on their share of liquidity provided.
Telcoin Network: Miner Production Activities and Fees
Validators stake TEL for proof of stake consensus, manage a node, create and verify blocks of transactions to the Telcoin Network blockchain, and earn TEL gas fees from customers each block they secure to Telcoin Network.
- Miners | Production Activities | Fee Type and Frequency | Fee Percentage and Currency | Basis Formula for Fee Income
- Validators | Blockchain Security
Manage a validator node to create and verify blocks of transactions to the Telcoin Network blockchain.
Stake TEL on Telcoin Network
Stake TEL on Telcoin Network to participate in proof-of-stake consensus. | Gas Fees
Validators earn gas fees, paid in TEL by users to transact using the network.
Frequency
Validators earn gas fees from each block they secure to the Telcoin Network blockchain. | Percentage
Validators earn gas fees less base fees, or the portion of TEL gas fees that are destroyed and regenerated to the TEL Treasury.
Currency
Gas fees on Telcoin Network are paid in TEL. | Basis Formula
Validators earn TEL gas fees based on the total TEL paid minus the base fees contained in each block they secure to the blockchain.
Base Fees: A portion of gas fees in each block are regenerated by Telcoin Network in equal quantity to the TEL Treasury.
Priority Fees: Users can choose to pay an extra “fee” that increases the likelihood that their transaction is included in the next block.