Q is a novel Layer 1 blockchain that offers a governance protocol meticulously designed for Web3 organisations. Instead of building out their own governance from scratch, any DAO, community or entity can integrate with Q. Its fully decentralised governance infrastructure makes it easy to launch bespoke, secure and fair processes for decision-making, enforcement and dispute resolution. Q network bridges crypto’s “code is law” with humanity’s most established governance systems through the Q Constitution, making it possible for automated efficiency and human complexity to co-exist online.
Q Network X Staking Summit
Q is a sponsor of the Staking Summit – the largest staking event in 2022. Validators are a very important part of the Q ecosystem, and therefore the partnership shows their support to the global validator community. Q is also giving away two highly coveted VIP Tickets to the Staking Summit for users who comment on this post!
Validators can register for the upcoming Incentivized Testnet
Interested Validators can set up and run a validation server on the Q Testnet. During a 3 month time window, the uptime of the servers will be checked and a scoring will be calculated. At the end of the time window, every validator who reaches the scoring minimum will get a reward in Q Mainnet tokens which can be used for validator staking. The ITN program will require a registration at Q DEV AG to account for fraud.
What is Q and what does it hope to accomplish for Web3?
Q network is the decentralised governance layer for the Web3 world. It is a novel blockchain with governance architecture that enables structured protocol development, but also – and this is unique – allows applications building on Q to use its governance framework. This dramatically improves protocols’ security and prevents governance exploits.
What is Q planning to bring to the user experience of crypto?
For end users, maybe the most important thing is what they will not experience:
- Rug pulls
- Governance attacks
- Toxic fights within communities.
At least this is what good governance, which Q promotes, aims to achieve.
Why should users care about good governance frameworks?
Good governance is the main value driver of businesses and even societies. This has been proven in many studies. Our belief is that this is true in Web3 as well: As people create their own communities, good governance is what will separate the successful ones from the unsuccessful ones.
Where do you see Q network in 5 years? What does it look like when Q is mass-adopted?
There will be a thriving ecosystem of people and communities that interact meaningfully and create high-value use cases. When we started, we largely had financial use cases in mind, but then we realized that there are many more for which Q can be a good home chain. However, we do not envisage Q as a monolith – just as there are many countries in the world that offer different trade-offs, we think that the Web3 world will be multi-chain, with different chains optimizing for different use cases or transaction types.
What is the primary use case of the Q token?
The Q token is the native asset of the Q Protocol. It is used to pay for transactions in the network and conveys governance rights to its holders.
How can Q network play a role in shaping the future of the PoS industry?
The rules of Q – including the role of PoS validators – are defined in its Constitution. This is different from most other networks, which rely on “social consensus” to emerge when new questions arise. This can work, but as networks and the resulting decisions become more sophisticated, we believe there is a great benefit to having clearly spelled-out rules. This lowers the risk for validators, which in turn improves their economics, which ultimately benefits all stakeholders of the system.
Can you walk us through the key aspects of the Q constitution?
The Q Constitution is a comprehensive set of rules that define how the Q Protocol functions. The main aspects are the roles of the different stakeholders, governance flows – i.e. how changes are made – and methods to resolve disputes. Personally, though, my favorite part is the very first sentence which states that “Q is an open-source system that is independent of any country, company or organization”. That sounds simple but has far-reaching consequences.
How does Q network encourage more participation in governance proposals, a key problem we have seen in current governance structures?
To some degree, participants in Q – with its explicit focus on governance – are inclined to participate more actively in governance proposals than participants in other protocols. However, while active participation is desirable, I think it is important that low participation per se should not create governance attack vectors. This is what some protocols have been getting wrong, where a small minority could “hijack” the protocol by pushing through proposals even though they did not have broad support.
Q network is currently running an incentive program, what is this all about and how can users get involved?
There is an incentive program for validators: By running a validator on Q’s testnet, you can gain Q mainnet tokens. The goal is to interest new validators to Q and also to have a lively validator community supporting the Q testnet.
Q network is playing an integral part at the Staking Summit, why did you decide to be a sponsor at this conference and what is your aim in doing so?
Validators are a very important part of the Q ecosystem, and therefore we are very happy to support an event that is dedicated to the global validator community. Of course, we hope that we increase the visibility of the Q Protocol within the validator community and interest some in actively participating in Q.
Are there any exciting updates, announcements, or partnerships coming up in the immediate future that you can disclose today?
Yes! Among other things, we are planning a series of workshops targeted at DAOs and other decentralized protocols around specific topics such as treasury management, constitution writing and liability & insurance. There will also be more incentive programs which we will announce shortly. To make sure to learn about those, follow Q on Twitter or join the Q Discord.
Why is Staking Rewards the best partner for your project?
Staking Rewards is the prime information source for all things around staking and PoS networks. This is where people go for their daily information needs as well as for true thought-leadership. To get in touch with the validator community, Staking Rewards is the natural partner for us.
Conclusion
Q network is the upcoming governance layer to solve the pitfalls of governance procedures in the current Web3 landscape. To learn more about Q, read their Medium page, follow them on Twitter and join the Discord!