bitqy holders corporate governance voting event
- Our first every corporate governance voting event has finished and it was extremely successful!
We voted on 3 issues:
- The threshold for voting
- The amount of bitqyM to be minted
- The setting up of committees/advisory groups
1390872 shares have voted to lower the threshold to 100,000 bitqy
7146511 shares have voted to keep the threshold the same as it is at 250,000 bitqy
15630196 shares have voted to raise the threshold to 500,000 bitqy
6336119 shares have voted to authorize 500 million bitqyM
1076402 shares have voted to authorize 750 million bitqyM
16755058 shares have voted to authorize 1 billion bitqyM
23516162 shares have voted to set up Committees/Advisory Groups
651417 shares have voted to not set up Committees/Advisory Groups
NOTES ON VOTING:
- You have elected to increase the threshold for qualifying for bitqy holder rights (like voting) and benefits from 250,000 bitqy to 500,000 bitqy. [We may elect to have this issue on a future ballot as the company grows].
- You have voted that the number of bitqyM tokens that will be minted is 1 billion.
- Overwhelmingly you have selected to set up committees/advisory groups. In upcoming corporate governance voting events we will create YES/No options for specific groups – many of which will come in as suggestions from bitqy holders. Our goal is to roll out our first advisory group(s) in Q1 2018.
All holders of a minimum of 250,000 bitqy on or before September 5, 2017 will be allowed to vote in the upcoming corporate governance event. Eligible holders must have their bitqy in qyckwalletTM.
There are 3 items to be presented for vote:
1) Raise or lower the threshold for bitqy holder rights/benefits. The eligible bitqy holders will be asked to vote on the choice of changing the threshold for the right to exercise corporate rights (voting, etc.) and corporate benefits (dividends, distributions, etc. IF any). The 3 choices being presented for vote are: lower the threshold to 100,000 bitqy, raise the threshold to 500,000 bitqy, or keep the threshold the same as it is at 250,000 bitqy.
2) Amount of issued bitqyM. The eligible bitqy holders will be asked to vote on the amount of bitqyM to be authorized. The 3 choices being presented for vote are: 500 million, 750 million, or 1 Billion.
3) Set up Committees/Advisory Groups. The eligible bitqy holders will be asked to vote on whether or not the company should establish committees/advisory groups that help consult on the direction of the various business verticals as well as some other operations of the company. The 2 choices being presented for vote are: Yes or No.
The opt-in for voting will take place in qyckwallet. All eligible (250,000+ bitqy held) voters will see a link in their qyckwallet during the designated days. Voting will also take place in qyckwallet on the designated days. There will be a separate location to show real-time results.
WHEN & HOW
On September 1 and running through September 5, an option will appear in the eligible bitqy holders qyckwallets to enable voting. You must enable voting in order to vote during September 9th and 10th.
On September 8, at 8pm Pacific US Time, accounts that have opted-in to vote will be frozen from sending bitqy out anywhere. Immediately prior to freezing the accounts we will run software to confirm eligibility of the accounts that have opted-in. NOTE: frozen accounts will still be able to receive bitqy.
On September 9 and 10, the issues being presented for vote will show in the accounts that opted-in and were confirmed eligible.
On September 11 at 4am Pacific US Time, all accounts participating in the vote will be unfrozen.
Throughout the process, voting results will be shown in real-time.
As with all corporate governance and voting events, voting results are tallied based on the number of bitqy each holder has and what percentage they represent. For example, a holder with 1 million bitqy will get 1 million bitqy worth of votes, whereas a holder with 250,000 bitqy will get 250,000 bitqy worth of votes. Essentially this means that the weight of your vote depends on how much bitqy you have relative to other voting bitqy holders.