Establishment of Foundation and DAO The Foundation will serve and be governed by the QWAN DAO, in accordance with its foundational prerogatives and bylaws. The Foundation exists to enable and implement the decentralized and consensus-driven decisions of the QWAN DAO, and will provide the necessary frameworks for such governance. Further, the Foundation’s Bylaws (the “Bylaws”) can be found in the Foundational Bylaws. In accordance with the laws of the Cayman Islands, the management of the Foundation shall be carried-out by: Director: The initial director of the Foundation is Glenn Kennedy, and approved appointments as director for a one (1) year term. Supervisors: The initial supervisor of the Foundation is Leeward Management Limited, and will act as a “steward” to the Foundation by ensuring the Director(s) are acting in accordance with the foundational structure of the Foundation and the laws of the Cayman Islands. Secretary: The initial secretary of the Foundation is Leeward Management Limited, who shall provide company management services in the Cayman Islands. Special Council: The Special Council serves a core function of an advisory and oversight group to ensure the legitimacy of the Foundation, its intermediaries, and the QWAN DAO.
Structure Tokenholders: QWAN DAO members will follow and use the governance structure in order to introduce and adopt measures and initiatives to further the development of the QWAN ecosystem. Tokenholders submit QWIPs, engage with other community members, formulate Formal QWIPs, and answer questions from the community or Special Council. Special Council: The Special Council is composed of three (3) members that are representatives of the QWAN ecosystem. More information on the Special Council, and the election process can be found in the Bylaws. Specification Tokenholders: QWAN DAO members will follow and use the governance structure in order to introduce and adopt measures and initiatives to further the development of the QWAN ecosystem. Tokenholders submit QWIPs, engage with other community members, formulate Formal QWIPs, and answer questions from the community or Special Council. The processes that will be used by Tokenholders and the Special Council to submit ideas and proposals, discuss with the community, vote and carry out other activities related to the DAO governance will be supported by tools made available to the community. The use of governance services and tools such as Snapshot may be accessed through the dTerminal platform. The categories of the different phases of QWIPs can be found in Governance Process, so that the community can easily follow the status of QWIPs as they move through the governance process.
Service Provider To foster the growth of the QWAN DAO and the strategic objectives and vision of the QWAN ecosystem, the QWAN Foundation and Banger Games Inc. (“Banger Games”) have agreed in principle to a strategic partnership to engage in a variety of activities and endeavors to foster and promote the development, interests, and goals of the QWAN ecosystem. The first such strategic initiative will be for Banger Games to create utility for $QWAN on its gaming platform and implement $QWAN as the platform’s primary currency.