The Telos Foundation: State of the Board — the First 30 Days

A letter from the Telos Board of Directors

On Wednesday, December 19th, 2018, the Telos Blockchain Network activated, 100+ members of the Telos Launch Group (TLG) disbanded — and elected Telos block producers took control of the network, forging full steam ahead. Telos was born.

With the network launched, many former TLG members refocused their efforts on supporting the chain in other ways, whether through community engagement, joining the development effort, or as block producers, while others stepped forward to take on the responsibility of stewarding Telos forward — by serving on the Telos Foundation Board of Directors.

The Telos Foundation board is an elected body, and amidst the busy holiday season that immediately followed the network launch, it’s 12 directors were voted in by TFVT (Telos Foundation Voting Token) holders. Many of the tasks that the 100+ TLG members were working on, now fell to this newly elected board of 12.

So, what has the board been up to in its first few weeks?

As the 1st serving Telos Foundation board, board members have been head down, hard at work putting the necessary organizational structures into place, so as to be able to establish a sound foundation upon which the current and future boards can function. The board recognizes that many strategic decisions with potential far reaching ramifications need to be made, and hence has been focused on establishing and implementing organizational processes, drafting budgets, developing bylaws, organizing into working committees, and identifying the necessary resources required to fulfill the board’s mandate — the long term success of the Telos Blockchain Network.

While much of this work is has gone unseen, we are making great strides! Here are some of the highlights so far:

  • Board leadership roles announced: https://medium.com/@teloslogical/telos-board-of-directors-elects-executive-jan-8th-2019-15884199e954
  • TEACH Coin — one of the first Tokens built on Telos: https://medium.com/@teloslogical/teach-coin-creating-educational-engagement-on-telos-eef1529c19c8
  • Blocktivity Listing — Telos in the top 10:
    Blocktivity, a blockchain value rating service recognizes the true value of a token is in its actual use, and hence measures the value of blockchains not based on market cap, but based on activity. The TLOS token debuted in the top 10 on Blocktivity, an impressive accomplishment for a chain barely 1 month old: https://www.blocktivity.info
  • Exchanges — Listing TLOS:
    Members of the TLG worked diligently for many months identifying appropriate exchanges to list the TLOS token, navigating lengthy exchange listing applications, engaging with the exchange teams across many different fronts (legal, technical, marketing, etc…), and establishing relationships with numerous exchanges, that would eventually bear fruit. While TLOS is currently listed on a number of exchanges (Chainrift, AKdex, CODEX, EOSex, Swap.Online and others), the board’s Exchange Committee has since taken up the work of furthering these relationships, and bringing this work to fruition. Expect to see TLOS pairs coming soon to your favourite exchanges.
  • Dapps — adding value to Telos:
    In order to support the needs of developers, the Foundation’s DApp (Decentralized Application) committee is actively working to complete a formal onboarding process, while providing various levels of technical and development support to development teams that have announced their support for Telos. With affordable resources, development grants, and it’s good governance, Telos is an ideal platform for EOSIO developers to build their Dapps on. 
    As a result, we’ve enjoyed some very big announcements as of late with EDNA, Lumeos, and VitaSphere all coming to Telos. With several others soon to announce, and yet more in discussion, the board looks forward to the many great applications and games that are coming to Telos, so stay tuned.

Arbitration:
Telos is a governed blockchain, meaning there are rules that all participants have agreed to be bound to. In conjunction with the Telos core development team, The Foundation has been working towards the finalization of the arbitration contracts, so as to begin the election of arbitrators. Expect to see arbitrator elections open in the next few weeks.
To learn more about arbitration on Telos: https://medium.com/goodblock-io/telos-user-guide-understanding-telos-arbitration-111e2397244b

Staff Outreach:
As would be expected with a project of this scope, there is never a shortage of work to be done. And until staff positions can be filled, this is very much a working board. While the board hasn’t officially begun public outreach for staff, members of the Telos community are already coming forward expressing their interest to help. If you are interested in supporting the board and the foundation, please contact us at hello@telosfoundation.io.

Advisory Board:
The Foundation understands that for Telos to reach its potential — it will “take a village”. By calling on industry experts with fresh perspectives, the board can grow it’s circle of expertise and leverage this towards Telos’ long term success. As such, the Foundation will soon be forming an advisory board. If you know of someone with industry experience, connections, who recognizes the opportunities new technologies such as Telos provide, and would be willing to serve in this informal capacity, please contact us at hello@telosfoundation.io

Board Elections:
As with any organization, change is a constant. Two elected board members who realized they could be more effective in benefitting Telos by focusing their attentions in a different capacity have chosen to step down. Josep Rosich and Marlon Williams will be leaving the board shortly. The Telos Foundation is extremely grateful for the contributions that Josep and Marlon have made, and that they will continue to stay engaged and supportive. These events have provided an opportunity to revise the board’s structure; increase the size of the board (by one member), and move from an even to an odd number of board members (avoid a stalemate). The contracts to revise the board structure, and enable a by-election are being finalized, and an announcement re filling the available board positions will be released shortly.

We hope sharing our journey to date has proved insightful. While the success of Telos resides with us all, the board looks forward to serving the Telos community, and to the many exciting developments the future holds. Go Telos!

The Telos Foundation is a promotional and funding body, dedicated to advancing the Telos Blockchain Network. The aim of the Telos Foundation is to provide grants to groups promoting necessary network functions that cannot or are not otherwise supported by worker proposals.

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