The addition of new decentralized TELx Markets follows a systematic, rules-based process and phased approach.

Phase One

Product Design: A Telcoin Application Network Application Developer begins by designing a user-owned product.
Market Selection: The TELx Council of the Telcoin Association, in collaboration with the application developer, selects which DeFi protocols, assets, and individual markets are required to bring that product to market.
Incentives Launch: The TELx council will then create the appropriate AMM pool. It will calculate and deploy incentives to staking contracts on the TELx Staking Portal.

Phase Two

TELx Miners add self-custodial liquidity reserves to the TELx pool, stake their LP tokens in the respective TELx Staking Contracts, and begin mining TEL in addition to capturing fees. When a market reaches product viability, it may be integrated into the Application Developer's Application.

Product viability factors may include:

Sufficient Decentralization: At least 15 liquidity miners must be participating at one time, for at least 14 days, prior to being considered for integration.
Minimum Viable Liquidity: Transaction costs, such as price impact, must be low (~0.3%) for the average order size.
Speed & Affordability: Network costs (gas) must be negligible, transaction speeds nearly instant.
Integration Viability: Once the above factors have been met, Application Developers then determine how, when, and if a market can be integrated into their application .

Phase Three

When a market goes live in the specific application, the application's end-users benefit from an additional product offering, where they can participate as TELx Miners and capture trading fees from transaction volume tied to user demand of a tangible product. When end-users participate as Miners on the decentralized products they use in their daily lives, they effectively “pay themselves” instead of an institution.