Stakers: Eligibility and Authorization Rules
Staker Eligibility Rules: Required Attributes
The required characteristics an individual must possess in order to participate in the position of Staker, harvest TEL issuance, and participate in governance.
- Organizational Requirements: All natural, individual persons, businesses or similar entities, are eligible to participate.
- Location Requirements: The participant must not reside in a sanctioned jurisdiction according to the United States OFAC/FINCEN sanctions list.
Staker Authorization Process: Conditions for Participation
The actions an individual must take to enter, maintain, and exit the position of Staker in order to to harvest TEL issuance and participate in governance.
Entry Rules
The following conditions must be met in order for users to enter the position of Staker.
Authorization Process
In order to enter the position of Staker, participants must:
- User Registration: Download and fully register on a Telcoin Application using Business or Individual KYC.
- Network Connection: Integrate another user’s referral code in their mobile application.
- Proof of Alignment: Stake TEL to mine referral fees and issuance and to participate in governance.
Rules for Maintaining Position
In order to maintain the position of staker, participants must:
- Staked TEL: Stakers must maintain a staked TEL balance in order to continue harvesting TEL issuance from the Platform and to participate in governance.
- User Account: Stakers must interact from a user account on a registered Telcoin mobile application.
Exit Rules
The rules for how a Staker may or must exit their position.
- Unstake TEL: Stakers may exit their position at any time by removing their entire staked TEL balance.
- Account Termination: Users who voluntarily or otherwise terminate their TAN mobile application account may not participate as a staker until their account is reinstated.