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  TIP: 33
  Title: Voting Restrictions on Telos Foundation Rewards Pool Tokens
  Authors: EOS Detroit (Adam Zientarski, [email protected], Rob Konsdorf, [email protected])
  Status: Withdrawn 2015-11-15
  Type: Protocol
  Created: 2018-10-31

ABSTRACT

This proposal calls for creating a restriction on Telos Launch Group contributors voting with Telos Foundation Rewards Pool (TFRP) tokens.

MOTIVATION

Creating a new group of whales is against the spirit of why the Telos was created in the first place; an experiment into different token economics and token voting mechanics to create a blockchain more resilient to the over influence of a group of a select few.

RATIONALE

Contributors in the Telos Launch Group have accrued tokens through their contributions to the project over the past 4 months. In many cases, individuals, block producers, and other organizations will receive many more tokens than the 40,000 per account cap during the airdrop, creating a new whale class within the Telos Blockchain Network. Even with inverse-weighted voting and other whale mitigation mechanisms, Telos Launch Group contributors running as block producer candidates may be able to vote themselves into an active or standby position. Furthermore, an active or standby block producer may be able to sustain their position even if Telos Blockchain Network Members decide to withdraw their support for a block producer.

The restriction should also extend to Telos Launch Group contributors who are not running block producers for a few reasons. The first is that these individuals or entities may decide to run block producers in the future. The second is that the TFRP distributions will still make some of these members voting whales. Even if these whales end up benevolent in nature, systematic creation of voting whales is counterintuitive to the ethos of the Telos Blockchain Network.

SPECIFICATIONS

This TIP is intended to be passed in tandem with TIP: 0032, but was published as two separate documents to allow ease of discussion and potential amendments.

Amend the Telos Blockchain Network Operating Agreement (TBNOA) to include the following clauses:

  1. Telos Foundation Rewards Pool Token Distribution and Accounts The Telos Contributors must register a separate account using the “regrewards” contract to receive their Telos Foundation Rewards Pool tokens.

  2. Telos Foundation Rewards Pool Token Vesting Schedule The voting power of accounts that have called the “regrewards” contract shall be capped at 40,000 TLOS regardless of account balance.

AND

Renumbering of the TBNOA contract clauses to reflect the amendment.

Amend the regproducer contract to include the following clause and changes:

  1. Respect of Telos Foundation Rewards Pool Token Restrictions I, {{producer}}, agree to not circumvent or aid another block producer in circumventing checks and balances put in place by the “regrewards” contract in regards to the Telos Foundation Rewards Pool tokens. Apparent intentional violation of the preceding, as judged by a majority of 2/3+1 of all block producers, shall be cause for my disqualification from all service as a block producer for 32,000,000 block (approximately 180 days) on first offence or 63,000,000 blocks (approximately 365 days) on second or subsequent offenses. Examples of circumventing include but are not limited to “token washing” or sale of the account to a third party.

AND

Renumbering of the regproducer contract clauses to reflect the amendment.

Create or amend the “regrewards” contract with the following functionality:

Regardless of the amount of tokens in the account that calls the contract, the maximum vote power of an account shall not exceed 40,000 Telos.

DISCUSSION

Open for discussion.

COPYRIGHT

This document is in the public domain.