Q Development AG is excited to announce that VedasLabs will build on Q to innovate in the field of crowdfunding. 

VedasLabs has deployed a Decentralized Autonomous Organization (DAO) on Q and intends to establish a DAO constitution that will strengthen its governance mechanisms, increase security and create trust among all stakeholders.

VedasLabs utilizes blockchain technology to create an innovative crowdfunding platform that fosters community and unlocks collaborative potential. The platform equips users with essential tools and expansive networks that help simplify and streamline fundraising. Committed to transparency and operational excellence, VedasLabs serves as a bridge connecting investors and pioneering projects across the globe.

By using a Decentralized Autonomous Organization (DAO) structure, VedasLabs strives to make its operations more transparent and accountable. This will help stakeholders understand and trust the procedures governing their contributions. The purpose of the VedasLabs DAO is to connect founders and investors to raise capital, share knowledge, and accelerate growth. The Decentralized Autonomous Organization (DAO) will be utilized to contribute to strategic decisions at VedasLabs, select mentors and projects for investment, and manage the token contract. 

As a regulated entity, a prime concern of VedasLabs is regulatory compliance. Q’s capabilities that combine sound legal frameworks with blockchain-based execution mechanisms are ideally suited to create a governance model that balances decentralization with compliance, fostering trust among all stakeholders. The governance integration aims to incorporate domain expertise in investment decisions, achieve decentralization without compromising compliance and operational efficiency, and limit the potential for abuse of the token contract to enhance trust within the community.

Objectives

  • Decentralization and Compliance: Achieve the security benefits of  decentralization without compromising compliance.
  • Security and Trust: Build community trust and minimize potential abuses within the token contract.
  • Transparency: Ensure all operations within the Decentralized Autonomous Organization (DAO) are transparent.
  • Process Enforcement: Strictly adhere to the defined governance processes.
  • Expertise Integration: Leveraging domain expertise of specialists in DAO governance to enhance decision-making processes.

Root node oversight will ensure transparent disclosure of all relevant information and enforce the decision making processes as specified in the Decentralized Autonomous Organization (DAO) Constitution. This means that Root Nodes can veto function call proposals to the Governance Token Contract in cases of non-compliance with the DAO constitution. In this way, Q’s governance oversight can enforce predefined criteria on governance token contact calls, a feature that cannot be captured purely via smart contract design since it requires interpretation of the criteria. 

Every decision passes multiple stages before it can be executed. Calls to the governance token contract can be appealed to the Q Root Node Panel.

“Q Protocol’s capabilities are instrumental in bringing our vision for the VedasLabs Decentralized Autonomous Organization (DAO) to life. The insights we have gained in discussions with Q contributors are enhancing our governance structure, ensuring it’s robust yet flexible, truly reflecting our commitment to community and transparency.” 

  •  Tom Trevisani, Founder VedasLabs

“We are excited that VedasLabs has chosen Q as the home for its Decentralized Autonomous Organization (DAO). Crowdfunding is a field that clearly benefits from strong governance security, and Q can provide just that. I look forward to seeing VedasLabs’s vision come to life”

  • Martin Schmidt, Q key contributor

About VedasLabs

VedasLabs is a forward-thinking startup utilizing blockchain technology to redefine crowdfunding. Through a platform built on community, collaboration, and transparency principles, we connect innovative projects with a global network of investors. Our platform and services are designed to streamline the capital-raising process, making it faster, easier, and more efficient. With a steadfast commitment to transparency and operational excellence, VedasLabs acts as a bridge, connecting investors with pioneering projects across the globe.

About Q Development AG

 Q is a novel blockchain protocol acting as a fundamental governance layer in Web 3. 

It combines the benefits of a public, open, and decentralized ledger with the transparency and predictability of enforceable private contracts. It enables adoption by many use cases that desire decentralization but require scalability and dependability.

Q Development AG is a private company based in Gamprin-Bendern, Liechtenstein, whose primary purpose is to advance the Q protocol and support the Q ecosystem. To learn more about Q, please visit: https://q.org/