31 January 2022

The Qoin community have cast their votes on 10 important community or project matters. The voting closed on 24 January 2022 and votes have been audited. We want to thank each of the hundreds of voters for the time you took to cast your vote.

The community overwhelmingly voted YES to all 10 proposals. This gives a clear mandate for the project teams to immediately commence the work to meet the timelines as per the proposals.

We will be communicating frequently to update you on the progress made. The first open merchant community zoom meeting commences this Thursday at 10am AEST and all merchants are welcome to attend. This will be the start of regular chats to improve and scale the merchant experience globally. If you are a merchant and have not yet received your invitation please click here  

Below is the table that reflects the full voting results of each proposal.

Refer below to the Qoin Community Voting Proposals

Question 1: Currently, each Qoin represents one vote. This gives a proportionate voice to each Qoin holder, similar to corporations who vote based on their shares in a company. 

Do you agree with this initial voting method? (YES/NO)

Question 2: It has been proposed to implement a staking (lock-up) opportunity whereby each Qoin that is staked for a minimum period of 12 months shall receive a Qoin yield reward equal to 5% per annum plus an additional 5 votes per staked Qoin.

Do you agree with proposal 2? (YES/NO)

Question 3: The wrapping of Qoin onto the Ethereum blockchain commences as a beta version in January 2022. It is proposed to prioritise the invitations over the next six months of beta on an orderly basis as follows:

Priority 1: merchants currently providing products to the community.
Priority 2: merchants currently providing services to the community.
Priority 3: merchants and consumers who purchased memberships, packages, or blocks.
Priority 4: current service providers to the Qoin project. 
Priority 5: merchants who previously provided products or services to the community. 
Priority 6: masters, agents, and ambassadors. 
Priority 7: users who received their Qoin as rewards or incentives.

Do you agree with proposal 3? (YES/NO)

Question 4: It is proposed that users wrapping their Qoin over the six month beta testing period should be capped based on a formula that recognises their volume of trading, buying, and selling or Qoin balance.

Do you agree with proposal 4? (YES/NO)

Question 5: Shortly after making Qoin available on to the Ethereum blockchain it is proposed to make Qoin available on the Binance Smart Chain and other popular blockchains and layer 2 solutions as prioritised by the technology research team.

Do you agree with proposal 5? (YES/NO)

Question 6: It is proposed to apply within the first half of 2022 to list the Wrapped Qoin (wQoin) on to the tier one or tier two centralised exchanges.

Do you agree with proposal 6? (YES/NO)

Question 7: It is proposed to invite the Qoin community, within the second quarter of 2022, to participate in liquidity pools for listing Qoin on the leading global decentralised exchanges like Uniswap, Pancakeswap and others.

Do you agree with proposal 7? (YES/NO)

Question 8: It is proposed to make the required arrangements for wQoin to participate in various leading decentralised finance (DeFi) projects from the second quarter of 2022.

Do you agree with proposal 8? (YES/NO)

Question 9: It is proposed to establish the following community groups within the first quarter of 2022. These group participants will appoint their leaders, spokespeople and enforcement team as well as peer review any motions or suggestions relating to the group that are received from the community:

– community standards group
– merchants fair trading group
– technology development group
– new projects group
– global expansion group

Do you agree with proposal 9? (YES/NO)

Question 10: It is proposed to add into the Qoin wallet a further 8 popular ERC 20 tokens by the end of the second quarter of 2022. These tokens, including ETH, WBTC, USDT, USDC and DAI will supplement the QOIN and WQOIN tokens. The automated identity verification (KYC), directory listing and the world’s most popular crypto tokens should make the Qoin wallet a leading global crypto payment system.

Do you agree with proposal 10? (YES/NO)