SUMMARY This first QWAN Improvement Proposal (“QWIP-1”) establishes the initial framework for the Decentralized Autonomous Organization (“DAO”) for the QWAN Coin's ecosystem (“QWAN DAO”), subject to the structure, roles, responsibilities, and rights in the foundational documents found in Foundational Documents , below. The purpose of this QWIP-1 is to establish the system of decentralized governance and process that will govern the QWAN DAO, provide information about that structure, including how governance by holders of the QWAN Coin (each a “Tokenholder”) works, as well as other essential information about the DAO, its mission, objectives, and service providers. Each QWAN Improvement Proposal (each a “QWIP”) is followed by a numerical value associated with the order in which the QWIP is successfully adopted.
Information about the token: The QWAN Coin (“$QWAN”) is a decentralized ERC-20 governance token for the QWAN DAO, identified at this contract address: 0xEEe0fE52299f2DE8e2eD5111CD521aB67Dcf0Faf.
The Foundation will serve as the governing body of the QWAN Coin ecosystem and foster and develop the growth of the QWAN DAO, which will make decentralized and consensus-driven decisions. The Foundation's role is to enable and implement these decisions and provide the necessary frameworks for governance. The governance structure involves Tokenholders who participate in the governance processes by submitting ideas and proposals, engaging with the community, and voting. The Special Council serves as an advisory and oversight group to ensure the legitimacy of the Foundation and the DAO. The Foundation administration team will support the administration needed to enable the processes required for the DAO to function effectively.The governance process is divided into three phases. Phase 1 involves submitting a QWIP (QWAN Improvement Proposal) Idea, gathering community support, and developing a formal proposal. Phase 2 focuses on reviewing and analyzing the formal proposal, considering its purpose and benefits to the QWAN DAO. The Special Council can ask questions, reject or permit the proposal for an official vote. Phase 3 outlines the voting process, where tokenholders cast their votes on the Formal QWIP. A minimum of 10,000,000 $QWAN tokens must be voted to achieve a valid voting process and a majority of "For" votes are required for the proposal to be accepted.
Background Gaming has evolved from creating the best experiences for users towards a market dedicated to extracting as much value from users as possible, distracting industry attention from improving the quality of the gaming ecosystem and gaming experiences. Esports has proven to be highly dependent on publishers and brands who finance gamers’ experiences. After several years of continued growth, the ecosystem is proving unsustainable in its current form. To work differently, the gaming industry – from teams and content distribution platforms to brands, developers and publishers – needs to change how gamers relate to monetization. They need to change this relationship away from centralization towards decentralization, returning voice, participation, and rewards back to the ecosystem and the gamers participating in it; the QWAN DAO aims to address this.