This is a statement from the Q International Foundation on its intention to vote on #5 Basic Constitution Proposal. The Q International Foundation’s Voting Policy lays down the principles according to which it exercises the voting rights attached to its Q tokens (QGOV). This statement is published to further the Q International Foundation’s commitment to providing full transparency of its voting behavior.
#5 Basic Constitution Proposal is currently open for voting on-chain. The proposal is correctly classified as a “basic” constitution proposal, requiring a 25% quorum and 50% majority to pass.
This set of proposed changes includes amendments to the Q Decentralized Finance System, in particular replacing the term “QUSD” with the more generic term “Q stablecoin”. Additionally, this proposal introduces slashing proposal eligibility periods for Root Nodes and Validator Nodes, a narrower scope of discretion for the DeFi Expert Panel, and a clarification as to the intention behind the formation of the Root Node panel as diversity for the sake of incorruptibility. Lastly, the proposal introduces clearer language throughout various parts of the Q Constitution.
Intended voting action
The Q International Foundation supports the proposed amendments and clarifications of the Q Constitution. At the same time, the Foundation does not see a strong reason to take a directional view on this issue.
The Foundation therefore plans to submit a “neutral” vote in accordance with par. 2. a. of its Voting Policy. This means that the Q International Foundation will submit an equal number of “yes” and “no” votes, thereby ensuring that the quorum required for the proposal to pass is met, while not influencing the outcome of the vote.
Providing clarity as to the design and operations of the Q Protocol throughout the Q Constitution is key to ensuring that Q continues to evolve as a decentralized and transparent system. At the same time, the Q International Foundation does not feel a need to take a view on the merits of this specific proposal, since the topic has been competently discussed among the Q community and stakeholders of the Q protocol. The Q International Foundation therefore submits a “neutral” vote on #5 Basic Constitution Proposal.