Proposals to Update Telos Works
The Telos Works work proposal system has been a clear success for Telos, allowing the Telos token holders to vote on funding all manner of development, marketing, and user acquisition proposals. However, there has been discussion in the Telos community about increasing the standard for passage from the initial figures of 5% voter participation and 50% majority to something more stringent. These values were created before the system was live as a best guess of what might be appropriate with the understanding that the Telos voters would have opportunities to adjust this through the Telos amendment process. With the Telos Works system passing 100 proposals, this seems like an excellent time for Telos users to consider what we’ve learned about Telos Works voting and consider making some adjustments.
For the past two weeks, we have discussed this topic in various Telos discussion groups to gauge the community feeling on the matter. It comes as no surprise that the thoughts are quite varied, from no changes needed to very stringent passage requirements and many shades between. For this reason, I propose multiple competing proposals at various degrees of change occurring simultaneously.
I propose submitting three proposals of increasing stringency (the fourth option, to leave the system as is, will be the result if none of these proposals reach the required passage threshold for a Telos Amend™.) Each of these proposes to alter the language of clauses 27 and 28 of the Telos Blockchain Network Operating Agreement (TBNOA) as follows:
Proposal A:
Increase the voter participation from 5% to 20% of voteable tokens.
Proposal B:
Increase the voter participation from 5% to 20% of voteable tokens and increase the passage requirement from >50% Yes vs No votes (excluding Abstain votes) to >55%.
Proposal C:
Increase the voter participation from 5% to 20% of voteable tokens and increase the passage requirement from >50% Yes vs No votes (excluding Abstain votes) to >65%.
Each of these proposals will also increase the threshold of votes required to receive the submission deposit from 0.1% of voteable tokens to 5%.
Because the proposals are additive in their increased difficulty of passage, if more than one Telos Amend proposals is approved, then the most stringent of the approved proposals will be enacted, not the one that receives the greatest amount of votes. For example, if both Proposal A and Proposal B pass the Telos Amend voting requirements, Proposal B would be enacted even if Proposal A receives more votes overall.
Voters should be aware that they can (and should) vote Yes, No, or Abstain on all three proposals.
Starting the Vote
The Telos Amend system is about to receive a long-awaited update that will allow users to vote with the weight of their TLOS staked to REX as they can when voting for BPs. This is expected to greatly increase voter participation. Therefore, these proposals will not be submitted until the new voting system is implemented — most likely less than a week from now.
Comments are requested for this proposal via the main Telos Telegram group @HelloTelos – https://t.me/HelloTelos. The proposed text of each proposal is listed below.
Current Text from the TBNOA
## 27. Worker Proposal Submission Fee
A submission fee of 3% of the requested amount with a minimum of 50 TLOS will be required as part of the submission. The fee shall be refunded to the Proposer if the worker proposal reaches a minimum threshold of 20% YES vote amongst all votes and a minimum voting total (YES or NO) of at least 0.1% of all TLOS tokens at the end of the Voting Period.
## 28. Passage of a Worker Proposal
Any Worker Proposal that receives a simple majority of YES votes and a minimum threshold of 5.0% of votes from all voteable TLOS tokens at the conclusion of the Voting Period shall be an “Accepted Proposal.”
Proposal A
## 27. Worker Proposal Submission Fee
A submission fee of 3% of the requested amount with a minimum of 50 TLOS will be required as part of the submission. The fee shall be refunded to the Proposer if the worker proposal reaches a minimum threshold of 20% YES vote amongst all votes and a minimum voting total (YES or NO) of at least 5% of all TLOS tokens at the end of the Voting Period.
## 28. Passage of a Worker Proposal
Any Worker Proposal that receives a 50% or greater majority of YES votes over NO votes, excluding ABSTAIN votes, and a minimum threshold of 20.0% of votes (YES, NO, or ABSTAIN) from all voteable TLOS tokens at the conclusion of the Voting Period shall be an “Accepted Proposal.”
Proposal B
## 27. Worker Proposal Submission Fee
A submission fee of 3% of the requested amount with a minimum of 50 TLOS will be required as part of the submission. The fee shall be refunded to the Proposer if the worker proposal reaches a minimum threshold of 20% YES vote amongst all votes and a minimum voting total (YES or NO) of at least 5% of all TLOS tokens at the end of the Voting Period.
## 28. Passage of a Worker Proposal
Any Worker Proposal that receives a 55% or greater majority of YES votes over NO votes, excluding ABSTAIN votes, and a minimum threshold of 20.0% of votes (YES, NO, or ABSTAIN) from all voteable TLOS tokens at the conclusion of the Voting Period shall be an “Accepted Proposal.”
Proposal C
## 27. Worker Proposal Submission Fee
A submission fee of 3% of the requested amount with a minimum of 50 TLOS will be required as part of the submission. The fee shall be refunded to the Proposer if the worker proposal reaches a minimum threshold of 20% YES vote amongst all votes and a minimum voting total (YES or NO) of at least 5% of all TLOS tokens at the end of the Voting Period.
## 28. Passage of a Worker Proposal
Any Worker Proposal that receives a 65% or greater majority of YES votes over NO votes, excluding ABSTAIN votes, and a minimum threshold of 20.0% of votes (YES, NO, or ABSTAIN) from all voteable TLOS tokens at the conclusion of the Voting Period shall be an “Accepted Proposal.”
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About the author: Douglas Horn is the Telos architect and whitepaper author, and the founder of GoodBlock, a block producer and app developer for the Telos Blockchain Network.
More about GoodBlock can be found at: www.goodblock.io
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Vote for GoodBlock on the Telos Blockchain Network @goodblocktls