Rise your Voting Influence with NoCartelProxy!

Honest Telos Block Producers (BPs) should practice implicit delegation of votes to the community by not voting at all.

The consequence of Telos BPs creating voting proxies is tacit collusion:

• Block producers form a cartel and vote for each other.
• Block producers and cartels vote themselves in by proxy votes.

Telos: a blockchain network controlled by a cartel of 12 nodes

You might have heard that when a group of nodes control 51% of total mining power, they control the whole network.

The fact is that on Telos, a DPoS blockchain network that was forked from EOSIO code, you just need 23% to control the network. In other words, 12 block producers (BPs) control the fate of a network supposedly bound to the decisions of a restricted group of 51 block producers and thousands of community members. Telos is a community governed blockchain! they dare to say...

Why has this Telos project been fucked up so badly? It is the governance, stupid! A cartel of a dozen BPs designed rules -a system of governance-, mainly tailored for their own interests. And at the same time they pretend to be transparent, open and to promote community inclusiveness and participation by introducing voting mechanisms.

But the reality is very different...

1. The (TLG) BP cartel gave its members millions in TLOS tokens = voting power
2. The cartel left out any other possible competitor -they call them 'whales'- by limiting their initial amount of TLOS to 40K, hence their voting power. On top of this, the cartel did not allowed cryptocurrency exchanges to vote.
3. The cartel created many voting proxies -8 so far- to maximize the capitalization of voting power from the community of 'lazy' or busy users, and use that power to vote for cartel members.

All these coordinated actions assured them a -perpetual- position among the Top21 BPs, the ones that are constantly validating blocks and get the biggest bag of rewards. They will say that they are on top because the community wants so, but as explained above, that is simply not true.

At this point you are probably begging to know who the members of that Telos cartel are…

infinitybloc and blindblocart are 2 BPs that share their tech team, and have created and operate 5 proxies: founderproxy, infinityprox, rocketblocks, telosproxy11 and ha2tcobxgyge. In total, they control 1.4M votes.

eosbarcelona, telosmiamibp, eosmetaliobp, goodblocktls, telosuknodes, tlsvancouver, caleosblocks, kainosblkpro, bigironbptex, and tlsvenezuela are 10 BPs that have created and operate 3 proxies: coredevproxy, goodproxytls, and tlostechprox. In total, they control 4.7M votes. Moreover, blindblocart BP also operates 2 of them: goodproxytls and tlostechprox.

And as you can easily suspect, all of them vote themselves, and each other, both directly and through their own voting proxies. Damn! Over 6M votes. In practice, this means that 12 BPs can decide among the 30 most voted BPs which ones are on Top21. Moreover, many cartel members are also members of the Telos Foundation (TF), and administrators of different TF communication channels and community groups on social media. They control all the governing pieces… Cartel acting at its best!

We are of the view that while the truth may be more painful, it is always more useful.

https://twitter.com/nocartelproxy

Based in Crypto Valley / Zug, we have been fighting for years scammers posing as crypto professionals to rip off vulnerable people. We stay anonymous for several reasons, most of them having to do with our real jobs.