TIP: 0014
Title: Increase the Telos Founders’ Reward Pool from 6 million TLOS to 25 million TLOS
Authors: Amplified Telos (Ian Panchèvre / telos@amplified.software)
Status: Declined
Type: Protocol
Created: 2018–10–08
TIP 14 proposes increasing the number of TLOS tokens allocated to the Telos Founders’ Rewards Pool (TFRP) from 6 million to 25 million.
A global network of contributors has emerged to support Telos. These contributors have incurred significant material and opportunity costs while the network remains unlaunched. Moreover, some community members have incorporated businesses and are pursuing outside capital to finance operational expansion (disclosure: Amplified Telos is one of those entities). Those who are involved with Telos’ mainnet launch should be appropriately rewarded.
As currently written, the TBNOA funds the TFRP with 6 million TLOS tokens. However, that sum may not sufficiently reward those involved with the Telos launch. Consider that the current token allocation outlined in the TBNOA would set aside approximately 1.8% of all the circulating TLOS for the TFRP that will be divided among over 100 launch group contributors.
Simply put, for block producers and development teams that have spent real money in support of Telos, the 6 million TFRP may not be sufficient to recover sunk capital and/or attract outside investment. Increasing the size of the TFRP to 25 million is not unreasonable. If all 7 of Amplified’s TIPs were approved, then approximately 7.49% of all circulating tokens will have been distributed through the TFRP. Although the pay for each launch contributor will more than triple, it’s quite possible that the absolute value of the reward remains relatively modest, given the near-term price prospects for the greater cryptocurrency market.
Modify text in paragraph 22 of the Telos Blockchain Network Operating Agreement (TBNOA) to read as follows:
“New Telos accounts will be created to fund … the Telos Founders’ Reward Pool which will receive 25,000,000 TLOS tokens …”
(Discussion period is closed.) Voted by Telos Contributors Group 2018-10-23. Voting: Yes - 0, No - 30, Abstain - 0
This document is in the public domain.