Qi Dao | Mai.Finance

Abstract

This proposal seeks to establish a new voting standard around aveQI, QiDao’s new locking mechanism for QI. Under this standard, only aveQI holders will be able to vote on DAO proposals.

These are the aims of the proposal:

• Address the incompatibility of using two different tokens when constructing voting power, QI-ETH and QI
• Move QiDao closer to automation via onchain voting and onchain execution of proposals. This would occur via QiDao XChain Protocol, discussed here: https://qidaoprotocol.medium.com/a-new-paradigm-for-crosschain-projects-powered-by-qidao-and-chainlink-ccip-12779c706ef8

Background

Currently, the DAO accepts votes from all QI holders on any chain, as well as QI lockers. Voting occurs offchain via a Snapshot strategy that tallies each user’s voting power. Now that QI lockers have both QI and ETH in their locks, a compatibility issue has arised. This is due to the existing voting standard only counting QI holdings when calculating voting power.

Roadmap for voting at QiDao

This proposal will be one of several addressing the question of DAO proposals at QiDao. Below is an overview of the components that will make up the proposal process. Note that the list below is for illustrative purposes. The DAO will need to approve every component.

Voting power standard

Addressed by the current proposal, this component deals with who can vote and how their voting power will be assessed.

Proposal creation and editing process

QiDao uses Discord for both discussions and editing of proposals. A standard will be set via governance vote to decentralize this process further. The guiding principle is for this process to efficiently log contributions and suggestions from DAO contributors within the proposal brainstorming process. Additionally, this should allow contributors to easily post their own proposals.

Proposal execution

At the time of writing, the DAO leverages Aave’s Guardian standard for executing proposal decisions. This is done via a multisig of highly-respected contributors in web3, internal QiDao team, as well as a community representative from QiDao. The future QiDao will still allow for Guardians to safeguard the protocol in emergency situations. However, the bulk of proposal executions should not have to involve human execution. Instead, proposals should be executed automatically. The DAO will use its internally-built XChain Protocol module on Safe to facilitate this process, if the community approves.

Quorum standard

The option with the most votes will be adopted.

Options

• Approve
• Further discussions needed
• Abstain