QIP036: Approving Standard for Strategic Partnerships

This proposal is to decide on whether to structure strategic partnerships with KPI options.

Engaging in strategic partnerships allows the protocol to tap external resources through aligning incentives. If this standard is approved, prospective partners will need to approach the DAO with proposals to be whitelisted.

Standard for Strategic Partnerships with QiDao

QiDao will exchange KPI options with whitelisted partners once approved by the community. The payout from these options depends on the total amount of MAI borrowed from vaults, thereby giving every recipient an incentive to grow the protocol (KPI = key performance indicator).

QiDao has set aside 4.8M Qi for this purpose under the tokenomics framework. The target tenor of this program is 18 months, after which the KPI options will be redeemable for Qi tokens. These KPI Options tokens will have a minimum value of 1 Qi each — but if the KPI increases, they will pay out Qi in proportion to the KPI target being met (up to 2 Qi).

MAI borrowed from vaults : Qi payout per option

• <30,000,000 : 1.00 QI
• 1,000,000,000 : 1.13 QI
• 2,000,000,000 : 1.27 QI
• 3,000,000,000 : 1.40 QI
• 4,000,000,000 : 1.53 QI
• 7,500,000,000 : 2.00 QI

The price of each option will be at a 5% discount of Qi’s price.

Partners can choose to rollover their options for another 18 months after expiry to achieve a higher KPI metric and payout. If a higher KPI metric is reached at the new expiry date, then a higher amount of Qi will be dispersed.

Quorum Standards

The option with the most votes will be adopted.

Options

• Approve standard
• Do not approve standard