QIP #6 : Reduce qMILES Redeem Rate

Abstract:

We propose a reduction in the qMILES-to-$QUO redeem rate from 5 to 3 to strengthen $QUO's value and reduce its emission. This adjustment follows recent market conditions and aims to make $QUO more precious, ensuring its long-term sustainability and protecting the interests of current users. By limiting the dilution of existing participants, we aim to create a healthier ecosystem for bribes and other incentives. To give users adequate time to adjust their positions, this vote will remain open for five days, ending on Friday.

---

Current Redeem Rate:

• 5 qMILES = 1 $QUO

Proposed Redeem Rate:

• 3 qMILES = 1 $QUO

---

Motivation:

Protect $QUO Value

Recent price action has highlighted the need to preserve $QUO’s value by cutting emissions. Reducing the qMILES-to-$QUO redeem rate ensures $QUO remains a scarce and valuable asset, benefiting long-term holders and the ecosystem's health.

Avoid Dilution of Current Users

The current redeem rate risks diluting the rewards for bribes and other incentives, which are crucial to driving engagement and value within the platform. By adjusting the rate, we aim to mitigate dilution and maintain robust incentive structures for participants.

Align with Ecosystem Goals

By making $QUO more precious and reducing its availability, we create a stronger foundation for sustainable growth, ensuring that the token's utility and value are prioritized for both current and future users.

---

Implementation and Timeline:

This proposal includes a five-day voting period, extended from the usual three days to give users ample time to adjust their current qMILES positions. The vote will conclude on Friday, allowing users to redeem their holdings under the existing rate if they wish to do so before the change takes effect.

---

Conclusion:

This proposal to reduce the qMILES-to-$QUO redeem rate from 5 to 3 is a step toward safeguarding the long-term value of $QUO. It reflects our commitment to reducing emissions, supporting price stability, and protecting the interests of current users. By making $QUO more precious, we ensure that the Quoll Finance ecosystem remains a valuable and sustainable platform for all participants.

We encourage all users to participate in the vote and adjust their positions as needed within the extended voting period.