TIP: 0017
Title: Capitalize the Worker Proposal Fund with 10 million TLOS upon mainnet launch
Authors: Amplified Telos (Ian Panchèvre / [email protected])
Status: Draft
Type: Protocol
Created: 2018–10–08
The Worker Proposal Fund (WPF) is a critical element of Telos’ overall system. The WPF accumulates TLOS from the daily inflation pool to finance value-added activities for the network. Currently, the WPF is only funded from the inflation pool. TIP 17 proposes seeding the WPF with 10 million TLOS upon launch.
A well-capitalized WPSF will benefit Telos because the network will be able to pay for more technical and community contributions.
Although the WPF will earn TLOS in perpetuity, the fund itself will not be especially wealthy when the network activates. Accordingly, Telos will struggle to finance early projects and it will be forced to make unpleasant tradeoffs in its capital allocation processes. Immediately capitalizing the WPF with 10 million TLOS will allow Telos to hit the ground running with new initiatives, as the fund gradually replenishes itself from inflation.
Note that 10 million is also the approximate number of TLOS the WPF should accumulate within the first two years; TIP 17 effectively pre-populates the WPF with two years’ worth of TLOS.
Modify text in paragraph 22 of the Telos Blockchain Network Operating Agreement (TBNOA) to read as follows:
“Moreover, 10,000,000 TLOS will be allocated to the Worker Proposal Fund.”
Discussion period is open.
This document is in the public domain.