About the coin

The Qi token serves as the governance token for the QiDao Protocol. It empowers holders to participate in the decision-making process regarding protocol changes. Unlike many governance systems, the QiDao Protocol allows anyone, not just Qi holders, to submit proposals for voting. This inclusive approach ensures that a wide range of ideas and improvements can be considered by the community.

Main features

One of the key features of the Qi token is its role in governance. Qi holders can stake their tokens to form xQi, which is necessary to cast votes on proposals. This staking mechanism not only secures the network but also incentivizes active participation in governance. Additionally, Qi holders have the responsibility of deciding how to allocate Treasury funds. These funds, which are generated from Closing Fees and other income streams, are used to support various infrastructure needs and services within the ecosystem.

How it works

The governance mechanism of the QiDao Protocol is designed to be both flexible and upgradeable. This ensures that the protocol can adapt to changing needs and incorporate new technologies over time. By staking Qi tokens to form xQi, holders gain voting power, allowing them to influence the direction of the protocol. This system encourages a consensus-driven approach to governance, where the community collaborates to make decisions that benefit the entire ecosystem.