IQ Olympiad operates as a governance council for the long-term growth of the platform. IQ Olympiad’s partners are the most qualified entities to conduct IQ Olympiad governance. Governing bodies will provide new services to the IQ Olympiad, introduce and promote IQ Olympiad to the world. IQ Olympiad’s ecosystem builders or all participants are potential members of the IQ Olympiad governance council. Therefore, the IQ Olympiad governance council is a new management system that will create long-term growth for IQ Olympiad.
This includes issues regarding the service of the platform, service updates, and the update schedule of new platform services.
This category includes matters pertaining to the structure of additional issuance and distribution of IQOs, and approval of IQO Reserve expenditures.
Governance topics and processes, as well as rules on the responsibilities and rights of the Governance Council are included in this category.
IQ Olympiad mainly aims for governance processes to take place within the platform services. During this process, votes are recorded on the blockchain. Agenda decisions are made according to the voting rights given in proportion to the number of IQO tokens and the result of the voting. As the IQ Olympiad platform grows, more issues will be addressed through governance.
- The IQ Olympiad governance process proceeds in the following order: introduction of agenda proposals, submission of opinions of advisors, voting by members, and resolution results.
- Anyone authorized to introduce agenda proposals can verify that each proposal has been voted on.
- When a proposal is submitted, the advisory committee must perform expert analysis on the proposal and submit its opinion.
- Members of the IQ Olympiad Governance Council have the right to vote on proposed proposals and vote on what they consider to be the best option, referring to the opinions of their advisors.
- If the number of votes passes the threshold, the proposal is passed. Otherwise, the offer will be rejected.
- Follow-up on approved agenda proposals is led by the chairman. The Chairman is responsible for implementing all proposals passed by Parliament during his term.
Individuals participating in governance must act with the long-term interests of the IQ Olympiad, not their own, and actively participate in the governance process. The IQ Olympiad Foundation will take on many roles in governance-related issues for the smooth operation of development and stabilization of the platform. However, in the future, other groups will increasingly play an important role in the decision-making process and will have the right to participate independently.