TIP: 0015
Title: Increase funding for the Telos Foundation from 6 million TLOS to 20 million TLOS
Authors: Amplified Telos (Ian Panchèvre / [email protected])
Status: Declined
Type: Protocol
Created: 2018–10–08
The Telos Foundation is an apolitical organization with a mission to aid in the promotion and improvement of the Telos Network. Tip 15 proposes increasing the capitalization of the Foundation so that it may accomplish these goals.
Though not dependent on the Foundation, Telos’ odds for success will likely increase if the Foundation is well managed and capitalized.
Given the possibility that the crypto bear market may continue for several years, the Foundation may find itself in a position where it is forced to sell off the bulk of its treasury through Telos’ startup phase. As a result, the Foundation won’t have the capital to continue operating in the distant future. Keep in mind that the Foundation won’t earn ongoing block rewards (though it may submit proposals for funding from the worker proposal system). By further capitalizing the Foundation, its lifespan will be extended and it will have more resources to support Telos during the critical early days.
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 Foundation which will receive 20,000,000 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.