Telos is getting serious about building technology for its network.
The most recent proposal to update Telos’ Worker Proposal System (WPS) describes a system in which proven design and development firms are sought out and paid to compete for the right to build key technologies. The system is being called “Telos Build”.
“It’s very similar to a bounty system,” says EOS Detroit’s Adam Zientarski, whose team has already made substantial progress bringing the idea from concept to reality.
Offering a bounty for important work is a common approach in the blockchain technology arena.
Who else uses such a system for building important technology?
NASA. The National Aeronautics & Space Agency’s Space Technology Mission Directorate (STMD) Solicitations & Opportunities webpage lists projects open for competition by willing companies.
And while Telos isn’t literally going to space, this decentralized application may stand to send Telos to the metaphorical “moon”.
Telos Co-founder and Head of Product Justin Guidici recently said the following about the Telos Build proposal:
“The entire Telos community appears to agree that the current Telos Worker Proposal System (WPS) needs a lot of work. The Telos Foundation (TF) is better at grants (we have Telos Ignite on way as you know) whereas the Telos Community Development (TCD) folks are better at doing development work for the network. Meanwhile, there are extension pieces of work that would be very valuable to the network, but by which neither TF nor TCD should be distracted (with internal staff you can't scale overnight to take on new projects).
The Telos Build system will provide us a satisfactory way to tender work out to capable teams and manage the work as it’s done. RFP systems are a globally accepted way to get high-quality work done for the right price and get results.
NASA has saved billions using an RFP program and blockchain development in my opinion is not too different in that it requires specialized skills- when you get the right team for the right job it saves time and money. This is especially the case when there are limited numbers of dev teams out there to use.”
Guidici continued, “I think it’s worthwhile to see how we can collaborate with a Works RFP team to get a workable system going that can help scale the TF and TCD by supporting select pieces of work. Things like the open block Explorer and Gnosis Safe would be great examples.”
Telos Build will serve as a supplement to existing worker proposal channels, without replacing them, to test the system’s effectiveness in building important pieces of technology quickly.
It may come as no surprise that the initial design for Telos Build came from a consultant with a background of strategic advisory in the aerospace/defense sector, an industry where RFPs are standard practice.
I spent years early on in my career at CSP associates, where I was involved in more than $50B worth of M&A transactions and became very familiar with contracting dynamics for advanced projects.
NASA’s RFP approach is perfect for building advanced technology. It’s very nice to finally bring some of the insights I gained so many years ago to help the Telos Network today.
I’m also excited about the new locked coin bonus (LCB) feature, which gives great builders skin in the game while significantly delaying the depressive price impact of converting TLOS to USD. The main idea is that, by the time the TLOS coins are unlocked, the associated development work will have already been launched and begun to make a positive impact on the network, thus counterbalancing the price impact of a would-be liquidation.
I think the LCB does a wonderful job of aligning the incentives of building team members. Such features are really only possible with blockchain technology.
Holders of the Telos coin (TLOS) can vote to approve or reject the Telos Build system here.
Previously published behind a paywall.