QIP 004: Revenue Usage
The Protocol has made on average 5,000 Matic daily on repayment fees. We are looking at ways to use these revenues to encourage the long-term utility of holding Qi. In the options below, we contemplate using this Matic revenue to buy Qi from the open market, thereby increasing the daily buy pressure for Qi.
Below are the two options we want to vote on for what to do with Qi from buybacks.
Buyback to Distribute
Distribute Qi from the buyback to users that stake Qi. This would keep the Qi in circulation as it would be distributed to Qi stakers post-buyback.
Buyback to Treasury
Store Qi from the buyback in the treasury in a separate account. Storing Qi removes it from circulation. This Qi could be burned at a later time if the community votes to do so. If burning is enabled later, it would make Qi a deflationary currency.
Please engage in community dialogue on the QIP Discussions channel on Discord https://discord.gg/hbU8SBxDsT
| Voter | Cast Power | Vote & Rationale |
|---|---|---|
 0x3782...1F336D | 169,744 | 30% Distribute / 70% Treasury |
 0x3824...AEf659 | 143,561 | 30% Distribute / 70% Treasury |
 0xa68c...B93b56 | 115,811 | 30% Distribute / 70% Treasury |
 0x2222...e47F84 | 100,121 | 50% Distribute / 50% Treasury |
 0xc903...3075c1 | 99,116 | 30% Distribute / 70% Treasury |
VOTE POWER
Proposal Status
- Mon May 24 2021, 05:00 pmVoting Period Starts
- Fri May 28 2021, 05:00 pmEnd Voting Period
Current Results
1-30% Distribute / 70% Treasury
892,518.24
2-Buyback to Distribute
135,654.445
3-50% Distribute / 50% Treasury
107,626.056