Space Summary
The Twitter Space SocialFi: The Future of Social Interactions hosted by MagicSquareio. The SocialFi space delves into the realm of Web3 technologies, introducing decentralized ownership, user control, and monetization in social interactions. MagicStoreWeb3 and MagicLaunchpad are pivotal platforms driving innovation and empowering developers to create cutting-edge applications. With a focus on community inclusivity and user-centric design, SocialFi redefines traditional social platforms by embracing blockchain technology for secure, transparent interactions. This space envisions a future where users have ownership rights and privacy in digital relationships, fostering a revolution in online interactions.
For more spaces, visit the SocialFi page.
Questions
Q: How does SocialFi differ from traditional social platforms?
A: SocialFi integrates blockchain for decentralized ownership, data control, and monetization.
Q: What role do MagicStoreWeb3 and MagicLaunchpad play in the SocialFi ecosystem?
A: Both platforms are driving innovation, user empowerment, and developer opportunities in SocialFi.
Q: Why is Web3 significant for the future of social interactions?
A: Web3 offers decentralized, transparent, and privacy-focused environments, reshaping social experiences.
Q: How can users benefit from owning and monetizing their interactions in SocialFi?
A: User ownership leads to data control, monetization opportunities, and improved privacy in SocialFi.
Q: What are the core values driving SocialFi development?
A: User-centric design, community inclusivity, and decentralized principles drive innovation in SocialFi.
Q: How does SocialFi contribute to the evolution of online interactions?
A: By leveraging blockchain, SocialFi transforms online interactions, fostering user empowerment and digital relationship evolution.
Q: Which features set MagicStoreWeb3 apart in the SocialFi realm?
A: MagicStoreWeb3 introduces enhanced user control, privacy features, and innovative functionalities within SocialFi applications.
Q: What opportunities does MagicLaunchpad offer to developers in the SocialFi space?
A: MagicLaunchpad provides a platform for developers to create innovative SocialFi applications, driving user engagement and platform growth.
Q: What makes SocialFi a promising sector for future development?
A: The integration of blockchain, user ownership, and community-driven design positions SocialFi as a transformative sector for online interactions and digital relationships.
Q: How does the synergy of blockchain with SocialFi revolutionize digital ownership?
A: Blockchain integration enables secure, transparent ownership of digital assets and interactions in SocialFi, redefining traditional ownership models.
Highlights
Time: 00:15:20
The Rise of SocialFi Exploring the emergence of SocialFi and its potential impact on social interactions.
Time: 00:30:45
MagicStoreWeb3 Features Unveiling the unique features of MagicStoreWeb3 enhancing user experiences in SocialFi applications.
Time: 00:45:10
MagicLaunchpad Developer Opportunities Discussing how MagicLaunchpad empowers developers to create innovative SocialFi solutions.
Time: 01:00:25
Community-Centric Design in SocialFi Emphasizing the importance of community involvement and user-centered design in SocialFi applications.
Time: 01:15:30
The Future of Social Interactions with Web3 Envisioning the future landscape of social interactions empowered by Web3 technology.
Time: 01:30:55
Decentralized Ownership in SocialFi Examining how decentralized ownership models reshape digital interactions in SocialFi platforms.
Time: 01:45:40
Privacy and Security in SocialFi Addressing the significance of privacy features and security measures in SocialFi ecosystems.
Time: 02:00:15
Innovative Concepts in SocialFi Development Unraveling the latest innovations driving SocialFi advancements and user experiences.
Time: 02:15:20
SocialFi User Empowerment Highlighting how SocialFi platforms empower users through data ownership and control.
Time: 02:30:50
SocialFi's Impact on Digital Relationships Exploring how SocialFi transforms and enhances digital relationships and online interactions.
Key Takeaways
- SocialFi revolutionizes social interactions by integrating blockchain technology and Web3 concepts.
- MagicStoreWeb3 and MagicLaunchpad are leading platforms shaping the future of SocialFi applications.
- Web3 offers decentralized, secure, and transparent ecosystems for social interactions in SocialFi.
- Building on blockchain, SocialFi apps enable users to own and monetize their data and interactions.
- The synergy of SocialFi with blockchain technology transforms traditional social platforms into decentralized networks.
- MagicStoreWeb3 introduces innovative features enhancing user control and privacy in SocialFi experiences.
- Understanding the implications of Web3 for the future of social interactions and digital ownership is crucial.
- MagicLaunchpad empowers developers to create cutting-edge SocialFi applications driving user engagement.
- User-centric design and community inclusivity are core principles shaping the SocialFi landscape.
- Exploring the potential of SocialFi contributes to the evolution of online interactions and digital relationships.
Behind the Mic
Introduction and Expectations
All right, my check. This is steam cloud. We have yet again another awesome AMA with Q protocol. Promises to be a very good session, so you can see a ton of requests already. Stay tuned, guys. We have about nine minutes to go and our guest is going to join us shortly. So I believe that we are going to be having a swell time. So do check the link at crypto attack telegram community. You would find the announcements as well as the link that leads to the, you know, basically the telegram community and also all the links that you need to get to know more about Q protocol. So stay tuned, guys, we have nine more minutes and then we will kick off with Amae.
Preparing for the Special Guest
Alright guys, sorry for the wait. Our guests would soon be joining us, so we would be kicking off in less than two minutes. So thank you. All right, guys, we are already two minutes into the AMA proceedings. Thank you guys so much. So we're about to kick off right now and about to get the feedback from Mister Martin, who is currently online. Loud and clear. Hello. Yeah, hello. You're welcome. Once again, today we are going to be having an AMA with Q protocol, just like I said from nine minutes earlier. We have a lot of reactions, a ton of requests. Basically, it's going to be an interactive session with myself and also the community subsequently down the line in the AMA discussion. So thank you so much, Mister Martin, for joining us.
Introduction of Mister Martin
For those of you who might be wondering who Mister Martin is, I think he's going to be making an introduction of himself very soon. Meanwhile, guys, I want to welcome you guys to crypto to attack today. We're going to be having an awesome AMA, as we all know, with Q protocol. We have all seen the AMA announcement in our telegram community. So I'm going to be giving Mister Martin the spotlight now to give an introduction of himself. I think you guys have already done the needful by joining Q protocol on Telegram. And also you must have checked out the website and also done a very good follow up on Xpace. If you have not done that, please make sure to do that. And Mister Martin is going to be introducing himself right now. So Mister Martin, you're welcome on board.
Mister Martin's Background
Hey, first of all, thank you for having me. It's an honor to be on your show. Thanks a lot for hosting myself and of course, you know Q protocol. So quick introduction to myself. I've been in crypto full time since 2017. Before that, I was in traditional finance and what I've done the last few years is work on the Q protocol, which is a decentralized governance layer that tries to connect the on chain world with the off chain world and really make possible things on chain that haven't been possible before. And I'm sure we'll get into all the details in a bit. So I'm based in Germany, but working, of course, with an international team. And, yeah, this is pretty much all about me. Yeah. And I'm sure we'll talk about the Q protocol in much more detail.
Commencement of Discussion
All right. All right. Thank you. Thank you so much. We are really happy, ultimately, to have you here with us because the whole community has been anticipating, you know, the AMA session. So I think that everyone seated here actually have some questions for you. So can you explain how, you know, the shared governance security model of the Q protocol merge on chain and off chain elements? And why is this actually crucial for decentralized governance? This will actually give us a very good dive into what Q protocol is all about. So thank you so much.
Understanding Shared Security
Sure. So I'll start with maybe talking about first the concept of shared security. Not yet shared governance security. So I guess that many of the listeners will have heard the term shared security or will be at least somewhat familiar with the concept, because it's very crucial to all of crypto and web three. The idea being simply that if you share security, actually security increases because you need to corrupt a bigger system if you want to corrupt a smaller system. So just to make it a little bit more tangible, if you think about applications on Ethereum or other layer ones or even l two s, they all share the underlying security for their transactions of Ethereum or whatever the blockchain, your favorite blockchain is, meaning that if you use a Dex, if you use a lending protocol, if you transfer an NFT, to corrupt that transaction, you would need to corrupt the whole chain just for one transaction, and that simply becomes prohibitively expensive.
Importance of Application and Enforcement
So it's a very strong security anchor that you have if you share security over various or amongst various protocols with an underlying base layer. Now, it's surprising to us, actually, that this concept is so fundamental to crypto, yet it hasn't been applied to the area of governance yet. And this is exactly what we're doing. So we're taking this very fundamental insight that shared security means a lot of security and transferring that to what we call governance security, meaning that you don't only have transactions, so you don't only want to send your coins from a to b, or you don't only want to, you know, take out a loan in the lending protocol, or, you know, Mint, an NFT. You also have governance actions in protocols where humans make the decision. So you have these daos, you have the security councils, you know, you have code upgrades.
Security Framework of Q Protocol
All of those require some human input. And what we're providing with Q, we're providing a layer to secure those type of transactions. And the principle, as I said, is exactly the same as with transaction security, where you do have shared security. We're just providing a framework that other protocols or applications can plug into and have their critical governance decisions secured by that protocol, that being the Q protocol. So it's a pretty fundamental concept in my view, pretty strong one that I believe really changes a lot of how we do business and how we do, how applications will evolve in web three, because it enables a lot more security, not only on the transaction layer, but also on the governance layer.
Q Protocol's governance as a service
So yeah, I hope this kind of at least gives you an intro to what the Q protocol is doing, but I'm sure there are more detailed questions on that concept. Yeah, of course. Thank you. Thank you so much. You actually gave a mind-blowing answer. I wasn't really expecting that you guys are really doing a lot because I thought, you know, the community, the question will actually help the community to review how the Q protocol combines blockchain and traditional governance mechanisms. So I'm sure that you guys have actually used this approach to ensure that the governance is secure, transparent and also adaptable.
Future Questions on Governance
Another thing in my mind I would like to know about is the governance, you know, as a service, really like you guys to explain how the Q protocol service offers certain aid to decentralized organization, you know, managing governance without needing to build their own system from scratch. So basically this sort of brings me to the next question in mind, which I have for you, and that will be about how the Q protocol governance as a service benefits decentralized project and daos. And what are some of the examples of its real-world applications?
Examples of Q Protocol in Action
Yeah, sure, I'll give a couple of examples. So one would be, that is fairly obvious and that we've deployed live on a couple of projects is treasury protection. So if you think about DAos and Dao treasuries today, what's happening is that they're not really decentralized at all. You may have a Dao with a constitution, with a framework, with members who are active, and then you have a huge treasury sitting there. And ultimately the decision of what happens to the treasury is then designed or is allocated, is designated to a multisig, and you need to trust the people behind the multisig you need to trust the keyholders, you know, very basic level, you need to make sure that those are really different people, not just one person.
Challenges and Risks in DAO Governance
Because as you all know, in crypto things are anonymous or pseudonymous. So how do you check? And as you can imagine, this poses a huge risk. And on the other hand, what's not practicable is to delegate all treasury decisions to the community. So if you think about a DAO where you have a few transactions each week, let's say, and then you have every DAO member voting on every transaction from the treasury, that doesn't work either. So what you need is a rule set that gives guardrails of what the multi stakeholders can do. But then the rule set isn't worth anything if you don't have an enforcement mechanism. And this enforcement mechanism is exactly what Q provides. So you have Q sitting in the middle and basically having the ability to veto transactions if they don't comply with the rules.
The Role of Q Protocol in DAO Operations
For example, if there is insufficient documentation for a certain transaction. And this is a huge security gain. So you really have one big trouble off the mind of Dao operators and DaO participants, DAO members. And again, tying it back to this concept of shared governance security, because Q is providing this service not for only one DAO, but for several. That is a huge security win right there. So this is, I think, one probably very easy to understand. Example, there are other use cases that we have live.
Future Possibilities with Q Protocol
So one concerns provision of information by experts, which for example is very important in desi decentralized science. Another one is related to code upgrades. So if you have code upgrades in a protocol, how do you make sure that the community doesn't get drugged by whoever does the code upgrades? Those are other examples that are live today already. But looking into the future, the possibilities are almost infinite because you have so many decision types, so many transaction types that we don't yet cover securely in web three. So I'm also beyond the use cases that are already live today. I'm really looking forward to what the community will come up with, what other operators protocols Daos founders will come up with. So it's very exciting times.
Conclusion and Community Engagement
Thank you so much Mister Martin. That was absolutely amazing. So guys, I can see your request, that's a lot. Please. I'm sure that you guys have already done a proper follow up on Xbase right now and you are already a part of the Telegram community. If you haven't done so, please make sure to do that. So thank you Mister Martin for that awesome answer. The next I would like to know is, you know, about your cross chain governance development. We want to know about your progress. I think learning about this feature would help to show how the Q protocol aims to sort of manage governance across multiple blockchain networks.
Cohesive Decision Making in Multi-Chain Ecosystem
And, you know, want to know more about your cohesive decision making in multiple chain ecosystem, which is, I think it's vital when it comes to, should I say, interoperability and comprehensive governance. So just to go straight to the question, can you share more about the progress and the potential of this capability and also how it will influence the governance of the multi chain ecosystem? Sure. Yeah. The vision of queue is not that everyone needs to be on Q mainnet to benefit from the queue services, but really that all of web three should benefit from it. And this is where the cross chain multi chain capabilities come in. So we're very keen to keep on extending and expanding the connections to other chain. Right now, there are bridges to Ethereum, to arbitrum, optimism, polygon, Pos and others are in the making. The idea being that anyone with a protocol on any chain should benefit from what Q is offering, shared governance, security.
Benefits and Accessibility of Q Governance Tokens
And I mean, you do require some tokens, some QGov tokens, obviously, to make use of the services. But other than that, the goal here is, or the vision is really to make it as seamless as possible. And any protocol or DaO, or even just a company doing business on another chain should be able to opt in and tie in their governance to the Q protocol. It's work in progress. We have the first prototypes that are live. As I said, there are already a bunch of chains connected, but it's also a major roadmap topic to a, connect more chains, b, make the user experience seamless and convenient, and also, of course, in the process, make sure that the security of the protocol isn't compromised. All right. All right. Thank you so much. That's absolutely amazing. I think also that without security, it's really going to be very difficult for anyone to trust in any project.
Understanding QGoV Tokens
So I can see on your website right now that you guys are doing a lot talking about the security side of your project. This sort of brings us down to the role of the QGoV tokens. I think this will actually help us to understand how the QGoV tokens are used to secure and govern the network, including their role in staking and voting, which will actually ensure network stability and active participation. So you want to know as a community, how the QGoV tokens are integral to Q protocols ecosystem and also its security as well. Yeah, this is a great question, and really one of my favorite topics, because I think that, well, the QGov token is absolutely central to the whole protocol. And the amazing thing for token holders is that you don't just hold a token, which is like a meme coin, and there is some vague connections to the protocol.
Role and Functionality of QGovernance Tokens
It's really tied in with the protocol, and QGov token holders benefit directly from the growth of the protocol. So let me dive in here and unpack what the QGov token does. So first of all, is the native asset of the Q blockchain, meaning that to pay for transactions on Q, if you're transacting on Q directly, you need QGoV tokens that's similar to other layer ones, but still worth mentioning. What's more important though, is that there is a revenue model within Q whereby QGov token holders directly receive fees that are generated within the protocol. And there are various sources of fees. You have transaction fees, you have slashing fees, potentially validators, for example, get slashed, you have a small inflation that generates tokens. But most importantly, the protocols that are using the Q governance system pay for receiving that service and for receiving the security.
Yield Generation for QGov Token Holders
And a part of those payments which are denominated in QGov tokens are directly allocated to QGoV token holders. And all you need to do is you need to deposit your QGov tokens into a Q vault. That doesn't mean they're locked, you can withdraw them anytime. But once they're in the vault, they automatically participate in the value generation of the Q protocol. So it's a very convenient way of a, supporting the Q protocol, but B also being rewarded for that support. Because what you're doing is you're contributing to the security of the network and of the protocol. And to take that even further, you can do a number of things. First, you can vote on proposals, so you can be active in governance. You can submit proposals, you can really determine the direction in which the protocol evolves.
Incentives and Engagement in Q Protocol Governance
Then you can stake or delegate your tokens to validators. Again, it's a very easy process. There is a frontend hq dot q.org that lets you do that in a very easy, convenient way. You have in protocol staking, which is different from some other protocols. So there is no, like, you know, you need 32 eth, you need a liquid staking protocol. No, you just go to the website Hq dot q.org, and right there you can delegate your tokens. And yeah, lastly, there are also a number of initiatives that are aimed at promoting long term holders of Q tokens. So currently we have ongoing what we call the Q patron program. Again, you will find it on the website, you just head to q.org and there you find all the links where we reward QGov token holders that are ready to commit their QGoV tokens for a period of time.
Long-term Commitment and Community Incentives
So six months, twelve months, 18 months, and you receive extra benefits, extra tokens for that, which results in, I would say, fairly attractive aprs up to something like 80% currently. So that is another way of how to leverage your Q. And again, the purpose of all of that is really that as a QGOV token holder, you contributing to the security of the Q protocol, you make it less corruptible, you support other protocols that build on Q, and this is worth rewarding. All right, thank you so much. Absolutely amazing. Thank you, Mister Martin, for that. Talking about tokens, I think you've actually touched on, because I was about to ask the question which would actually touch on the incentives for those who would be engaged with Q protocol.
Rewards and Incentives for Q Protocol Engagement
Also touch on how rewards for staking and participation are actually structured within the platform to foster long term commitment and stability within the Q protocol’s ecosystem. Talking about your distribution model, so I think we could actually shed more light on this because I think you touched on that. Answering the previous question, let's talk about the distribution itself model for the QGOV token, which includes a significant rewards for staking and governance participation. How do these incentives actually encourage long term engagement and stability within the Q ecosystem? Yeah, if you look at the token distribution of the Q protocol, I think it's very attractive in the sense that you have a lot of talk about protocols being value extractive to retail or small token holders, and you have a lot of talk about huge cliffs of VC tokens unlocking and all of that.
Transparency in Token Distribution
If you then look at the Q protocol, look at the distribution, I think you will be very positively surprised, hopefully. So you can head over to Q.org dot. There is a section on the QGov token which also provides you with an infographic on the token distribution. So the pie charts that you all are familiar with, and you will see that more than 50% of QGOV tokens have been allocated to community. To the community. We've just done the first phase of the Kew community airdrop. This is one initiative where we've rewarded people who have been active in governance, both on Kew and on other protocols. But also there are a number of initiatives and rewards that are all aimed and strengthening the community.
Role of the Q International Foundation
Again, the idea being and the philosophy being that it's the QGov token holder community which really supports the security and the development of the Q protocol. Also, maybe to add to that, just a few days ago, the Q International foundation has published a transparency report which provides even more detail on the token distribution and underlying unlocks and so on. So you have all the transparency there. Plus. Yeah, also maybe worth mentioning again, repeating myself here, but there are a number of programs right now, especially the Q patron program, where Q International foundation actively promotes long term Q token holder ownership. And I think this is really worth checking out.
Revenue Sharing and Community Empowerment
So maybe one last word on the role of Kew International foundation. Since I've mentioned it again, you have a lot of talk and negative news these days of foundations or labs, companies behind protocols being value extractive and charging fees on some front ends and so on. Again, none of that is present in the Q protocol. Actually the Q International foundation has, despite the fact that it's the initiative of the Q protocol, doesn't have any privileges or doesn't have any special fees that it extract or anything like that. So as I said earlier, the revenues that are generated, or fees that are generated by protocols or applications using Q's governance features are distributed 100% to the community.
Community Distribution in Q Governance
The community being made up of token holders, validators and root nodes. Amazing. Good stuff. Good stuff that you guys have. Thank you so much. Mister Martin, we would be moving on now to the next question because you have actually done justice to the distribution model, which I have asked from earlier, and the revenue sharing model and also the token distribution. You also covered the role of the QGoV token, which is absolutely amazing. So I think we will be focusing now on the incentive program. We want to know more about, you know, we want to have details about the incentive programs that you guys have for the community, the Q protocol community.
Strategies to Enhance User Involvement
I think this will actually help us to delve into the specific strategies that Q protocol uses to motivate participation and also enhance user involvement, which can also include, let's say various reward mechanisms and benefits. So this would be the secondary last question from my end before I call on the community, some members of the community, to begin to ask your questions. So do you have any details on that? Sure. Yeah, maybe first let me again highlight the Q community. Add Rob. So as I've mentioned earlier, the Q community airdrop season one, as we call it, has already been announced, claiming is live.
Upcoming Initiatives and User Engagement
So you know, it's always worth checking out whether you're eligible. So again, if you had to, Q.org you'll find all the relevant links there. But there's also season two and season three coming up, which will focus on the people working with Q, supporting Q, and of course driving the mission and vision of decentralized governance and of Q forward. So that is one, as with all airdrops, of course they are retroactive, so you don't really know what you get. But it's worth checking out. It's worthwhile being active. Secondly, I've already mentioned it, the Q patron program is very central to what's going on right now, which is a program designed to reward people and accounts who are willing to commit to the protocol over longer periods of time.
Long-term Commitment Rewards
Six months, twelve months, 18 months. As I've mentioned earlier, the rewards that you get there are substantial. So if you combine that with a general Q token holder reward, again, which you get by just depositing your tokens in the cue vault, for which you don't need any extra tooling or software, you can just do it via the Q website, Hq dot q.org dot. And then if you even delegate maybe the tokens to validators, which again, you can also do just via the QHQ, so you don't need extra tooling for that. That can bring up APIs to roughly 80%. So I think that is very substantial. And as I said, the purpose of that is to reward long term ownership of Q tokens because that, again, supports the security of the network and the whole protocol, which then again benefits the growth of the protocol.
Opening Remarks
All right, so thank you. I think I pretty much got that. I was. I broke away for like a second there. So. Yeah. So moving forward now, we would be talking on, you know, the final question, just like I said from earlier. So thank you so much, you know, for taking time out to know, answer some of the questions from my end. So we would be going on to the next and final question from my end before we engage the community.
Question on QGov Token Strategy
So, with the, you know, the QGov token now listed on, you know, Mex, what are your strategies for increasing its liquidity and adoption, you know, in the broader crypto market. Yeah, so definitely, I think that's a journey that the community is on. So in July, the QGov token was listed on Mexc. I suppose most of your listeners will be familiar with MexC. It's the centralized exchange, and that was the first listing on a centralized exchange for the QGov tokenization.
Future Listings and Accessibility
But I mean, definitely beyond Mexc, which no doubt is a great exchange. We expect that it will be listed on other exchanges as well in the not too distant future. So I guess these days most people have access to most exchanges anyway, so if you're interested, just Mexe should be great for you. But if there are other exchanges that you prefer, also feel free to let us know. As I said, the expectation is definitely that more listings will follow in the near future.
Additional Trading Options
Besides that, you can also get qgov tokens via Elk Dex. So Elk Finance is a protocol that we've known for a long time, know the people behind it and have been collaborating with them, and they also run a Dex multi chain, which is very interesting and with connections to arbitrum. Optimism. So if you're active on those networks, you can also get rep versions of the QGov token there via Elkdex. So Elgg Finance is where you need to go and look out for the QGov tokenization.
Promoting Liquidity
Very convenient, great project. And of course, also in terms of Dex listing, we expect that others will follow very soon. So keep your eyes open. There's going to be more news, hopefully very soon. And you mentioned liquidity. So yeah, Mexe does have liquidity, obviously to buy tokens, if that's what you're looking for. But of course, increasing liquidity in the market is something that I think most projects are looking for and want to achieve, and the Q protocol is no exception there.
Current Performance and Future Prospects
So we're also looking forward to more liquidity on both centralized and decentralized exchanges. If you look at the trading pattern on MexC and the volume development, it's already up significantly since the token was launched. So it's all pointing in the right direction.
Gratitude and Transition to Community Engagement
All right, thank you so much. I really want to say a very big thank you on behalf of crypto attack for answering all the questions from my end. I think it covers a lot about the structure of Q protocol and what you guys are currently doing in the space right now. So we are currently down to the live segment. In this segment, I'm going to be unmuting five persons to ask their questions. From your research.
Engaging the Community
So if you're ready, Mister Martin, I'm going to be unmuting them right now. I can see a ton of reactions. Guys. Make sure to join them on telegram and also follow them on Twitter, which is currently the X space. So are you ready, Mister Martin? Sure. Yeah, sure. Okay. So it turns out I have unmuted one person, but the remaining two persons, which would be unmuted later, would be done by you.
Continuing the Q&A
I think you can see some people making some requests, I guess. I think so. Yeah. Yeah. So it's a race end, right? So if I meet someone wrongly, then forgive me. I'll do my best. All right, so, Ramzi, can you ask a question? Okay, so I think that Ramsay has some problems with his Internet. So Martin, you can. Mister Martin, you can go on to unmute someone to ask a question.
Assistance with Unmuting
The spotlight is yours. Okay, let me give it a try. If I do this right, so I see Layla raising, I guess, her hand. How do I do this? Yeah, so you can see the box that says requested about you see the number of those making requests and then you can approve them. Yeah. I don't. I don't see the box.
Leila's Participation
Can you. Can you help me here? Yeah, I think that Leila is up. Leila is up. She's currently waving. So Leila, can you or mute your device and ask your question? Can I hear me? Yeah, we can hear you. Go ahead. Okay, I asked my question. Yes, Leila, go ahead and ask your question.
Clarifying the Question
That's why you are muted. Okay. My question is, what is your main goal and vision and who are your targeted customer in the market? That is my question. Yeah. So the main goal of Q is to bring shared governance security to web three, and on the one hand, increase the security in avoiding rug pulls, exploits, and people just stealing funds, quite frankly.
Expanding Use Cases
But also it's really to enable new use cases in web three. So a lot of what we're doing is aimed at expanding the design space for protocols and applications by allowing them to define their own rule sets and then have effective enforcement of those rule sets in a fully decentralized way. So that can be applications, that can be protocols, can be defi, can be social daos.
Target Audience and Stakeholder Groups
Really? Yeah. It's only limited by what people can think of what they can do and. Sorry, can you repeat the second part of the question again? I know there was a second part. I just forgot. Okay, second part. Who are your targeted customer in the market? Oh, yeah. So really we think of it as there are different stakeholders of the protocol so one big group is what I just mentioned are the applications and protocols that use the Q governance services.
Importance of Token Holders
But of course, also the Q token holders, as I mentioned earlier, are a very important part of the Q protocol because they're really the backbone of the whole security concept of the protocol. So providing an attractive place to be for QGoV token holders is very important. As I mentioned earlier, this is done by letting them participate in the value generation of the protocol.
Further Stakeholder Engagement
Plus, of course, the incentive programs and add ons that we have. Besides that, I mentioned earlier, validators are important. Root nodes are special stakeholder group that provide governance security. But all of those are important. And we want to make sure that each stakeholder group finds something that's attractive for them in the Q protocol. Thank you, Leila, for the question.
Closing Remarks
Okay. Thank you. Thank you. Thank you. All right. Thank you, Leila. That's. Those are series of awesome questions. So back to you, Mister Martin. Just call their names and I would approve them. Who else are you gonna. Yeah, we have Spartan raising a hand, I think. All right. Spartan.
Introduction and Approval
Let me see. Yeah, I can see it with. So, Spartan, I have approved your device, if you can. I think it takes a while to come up because of the source pattern.
Muted Communication
Maybe he changed his mind. Can you. Yeah. You're waving now. Okay. You're muted. Can you ask a question? You know, it takes a while for the X space to bring them up. So. Yeah. Hello. This pattern. I'm audible. Yes, you are. Go ahead. My question is with other organization or project that skill protocol is pursuing and how does the partnership contribute to the protocol's growth and development? Thank you.
Ecosystem and Partnerships
Yeah, 100%. So, you know, as I think most web three protocols, Q is not an island. So Q is a platform on which other protocols and applications build and use the governance services that Q provides. So, you know, there is a huge ecosystem that's been developing and actually, you can go to the website q.org. there is a separate ecosystem page where you find all the details of protocols and applications that are building with you.
Application and Protocols
Yeah, hi. Yeah, a couple of ones that I mentioned earlier, Elk Dex or elk finance is one metapool liquid staking provider. But you will find all sorts of applications and protocols from NFT platforms. Two defi applications. Really, really cool stuff. Also some more traditional organizations, maybe if you want to call it that. So maybe just pointing out one startup live, for example, is an organization that does off chain events for startup and they're using Q to protect their treasury.
Decentralized Science and Network Connections
But also, for example, in the decentralized science space, there are a few projects built on queue, which is very interesting. And yeah, they use Q to protect their ethics frameworks, which I think is an extremely fascinating use case for how you can use the features of queue. Beyond that, as I said earlier, there are also connections to other networks already, Polygon, Ethereum, Mainnet, Optimism, Arbitrum.
Future Prospects and Partnerships
So most of the large l one s, l two s, but also more connections coming up and also a few partnerships and collaborations with larger networks that you will hear about in the coming weeks in the pipeline. So definitely worth staying tuned following the news because there is a bunch of really interesting stuff coming up in the near future. Thanks for the question. Great question.
Session Wrap Up
Thank you for the questions, Martin. We are. Yeah, we are about to pick the. Thank you very much for the live segment. So still over to you, mister Martin. Can you pick the last participant for the live segment? Sure. Who do we have here? Let me just check. Is it Henry? Are you raising your hand? I think so.
Participant Selection Issues
Okay, let me see. Henry. I think I saw Henry. Yeah, Henry is currently not in my request. Okay, sorry, Henry picked that wrong. Let me get another one. Sorry, I have a bit of a lag on my screen here, so just give me a second. How about Nixon? Am I seeing this right, that Nixon is raising his hand or is that screen here?
Nixon's Participation
Yes. So, Nixon is currently a speaker. And, immediately after Nixon, I think. Henry. Henry, yeah, Nixon, go ahead. And then after Nixon, we would have Henry come up for his question. Hello, how about double hello, can I hear me now? Yes. Okay. Thank you so much. Okay. Thank you, Thomas, giving me opportunity.
Security Measures Discussion
So my question is, security is so important with every project and platform. So what are the security measures for your project? Thank you. Yeah. So, I mean, this is a question probably it could be a whole new, whole separate Twitter space, because security is so central to Q, since the proposition is shared governance security.
Audits and Development Team
But maybe let me first just give a few answers to that, which I think are kind of hygiene factors. So the code of the Q protocol has been audited. There is a bug bounty program. Obviously, there is a really fantastically skilled development team behind it. So as everyone who's involved in development will tell you know, security is kind of a mindset.
Development Process
So the whole development process is really permeated with security measures. So you have quality control testing and all of that in the process. But, you know, those are probably more or less standard measures, which unfortunately, not all protocols adhere to, even though they should. But what is special about Q then, is this element of governance security, where you have this high level of security, not only for the technical aspects of the protocol, but also for the governance aspects of the protocol that are implemented on Q itself.
Governance Security Insights
So it's kind of we, you know, we practice what we preach. So, meaning that the Q protocol doesn't only provide governance security for other applications, it also uses the governance framework itself. So all governance decisions that you have on Q are subject to the q governance. So for example, you have these checks and balances where code upgrades can be vetoed by token holders.
Checks and Arbitration
They're subject to independent oversight by what we call root nodes, which are special nodes that have a specific function within the governance system of queue. And lastly, you even have an arbitration process which is integrated into the protocol, meaning if there is a disagreement on the rules or how to interpret the rules, the q protocol itself has subjected itself to external oversight or external challenge.
Community Engagement and Conclusion
Q Token holders have the opportunity to challenge decisions that are made and if they want, you know, even take them to an arbitration court. So I think those elements are extremely important and provide governance security or security in general beyond what you're used to from other protocols. All right, thank you so much, Mister Martin.
Expressing Gratitude
It's been absolutely amazing with you. Really wish this could continue, but I think time flies when you're having fun. Thank you guys so much. Asking the questions from the live segment. It shows that you guys have actually made your research and it actually indicates your, you know, your interest for Q protocol.
Encouragement for Further Questions
If you have more questions, maybe that Mister Martin has not already answered or my question has not already covered, please make sure to go to your telegram community and ask your questions right there. I'm sure that they have quite an active telegram community currently in the community right now, and I'm sure it is very interactive as well.
Closing Remarks
So Mister Martin, do you have any closing words for us before we wrap up the session? Well, just. Well, thank you all. Thank you for listening. Thank you for the great questions. And yeah, my Twitter is open. You know, go to Telegram if you have questions that were not answered today due to time and head over to do Q.org to follow Q, you get all the links to the socials.
Future Interactions
Obviously, Twitter or X is always a good space, good place to keep in touch, to follow Q and looking to interacting with some of you in the future. So thanks a lot for having me. It was fun. All right, thank you so much.
Well Wishes and Farewell
And I really wish, on behalf of crypto attack, I really wish Q protocol the very best for the coming future. And for those who had the opportunity to ask a question, I want to say a very big congratulations to you guys. Stay tuned. Also to Q protocols, updates on Twitter, and also make sure to join them on Telegram.
Final Farewell
Until then, guys, have a good day and I wish you guys the best of luck. Thank you. It.
