4th Qubic Steering Committee Bi-Weekly Update

We are excited to share the latest bi-weekly update from the Qubic Steering Committee (SteCo). These updates are designed to keep our community informed and engaged with the latest developments. They highlight our ongoing projects, recent progress, and upcoming plans across various domains, including governance, listings, technology, marketing, community, and operations. This edition is packed with valuable information and insights to keep you up-to-date.

SteCo Governance 

Project X

• Project X officially announced: This major initiative is made up of four elements: a core protocol extension and three initiatives that leverage this extnsion (A New Emission Model, CCF and QEarn). Our aim is to perfectly balance emissions, mining growth, and long-term sustainability. To catch up on the 4 Days of X announcements visit our blog page.

The Four components of Project X

• Protocol Extension: Allows computors to reallocate a percentage of their weekly emissions to projects they believe will benefit the ecosystem, promoting adaptable and community-driven decision-making.

• Computor Controlled Fund (CCF): The treasury for essential activities such as software development, marketing, the Qubic Grants Program and community projects. An 8% reallocation of weekly emissions to the CCF is proposed to boost ecosystem growth.

• New Emission Model: Qubic is introducing a 15% reduction in emissions, followed by yearly halvings, targeting a max supply cap of 200 trillion QUBIC. This model balances emissions and burns, crucial for sustainable growth.

• QEarn: A community initiative which offers attractive yields for staking QUBIC, reducing circulating supply and encouraging long-term engagement. It Includes QUBIC reward redistributions and burns as a result of early withdrawals, aiming to create upward pressure on QUBIC price.

Technology

• Localisation for Qubic Wallet on iOS and Android (Community Baked!): Thanks to support from within the community, the Qubic Wallets for both iOS and Android are now localised, enhancing accessibility and user experience across different regions and languages.

• RPC/API Updated to V2, Stats-API in Testing: The RPC and API have been upgraded to Version 2, offering improved functionality and performance. The new stats-API is currently in testing.

• Implementation of Protocol Extension Initiated: Work has begun on Qubic’s new protocol extension. This extension is the ‘tech backbone’ of Project X. Stay tuned for an upcoming post explaining this exciting initiative in more detail.

• Technical AMA Sessions with the Community Starting 19th August: These new AMA sessions will offer technical insights and engage the community with discussions about ongoing and future developments.

• Hiring of Scientific Advisors: We are proud to welcome Mr David Vivancos and Dr Jose Sanchez-Garcia who have joined Qubic as scientific advisors as part of our newly formed Scientific Advisory Committee. Efforts are underway to bring in more top talent to strengthen the team even further.

Marketing & Growth Initiatives

• Production of Qubic branded Hashwallet cards: We are delighted that Hashwallet have resumed production of Qubic branded cold-storage wallets.

• The Hiring of a Technical Writer: The team has welcomed onboard a new technical writer, "iam333", to enhance content.

• The Hiring of an X Content Writer: We also welcomed “CrytpoDeighs” to the team to create content for X and further develop our social media strategy.

• Progress on User and Developer Documentation: Significant progress on both user and developer documentation has been made and these will provide clearer guidance and support.

• Onboarding of a New Marketing Agency: Discussions are ongoing with three potential marketing agencies to strengthen Qubic's growth strategies. A decision is expected within two weeks.

Grants Program

• Grant Requests: The Grants Program has received seven requests, which will be reviewed over the coming weeks. Details of all grant applications are available here. The deadline for submitting grant requests for our first season is 31st August 2024.

• Challenges (Developer Uncertainty): Developers are uncertain about what to build, as smart contracts are developed in C++. There is a need for more active discussions around proposals within the dev community and for us to reach out to developers outside of Qubic.

• What's Next? (Increased Marketing and Developer Engagement): Plans include more marketing efforts and proactive engagement with external developer communities. There will also be continued improvements in developer documentation, including examples / tutorials on the testnet or guides for deploying standalone computers to test. Efforts to connect with universities and institutions will also be a focus.

Community

• New "qubic-team" Role: A new Discord role has been introduced to grant access to a new “qubic-team” channel without specific team affiliation, streamlining internal communication and collaboration.

• Onboarding, Moderation & Security Bots: New bots for onboarding, moderation, and security are being tested on the test server.

Operations & Finance

• Roadmap Update: The roadmap is being updated with final key results and target numbers. All objectives and key results are accessible on Notion for transparency.

• Ecosystem Team and SteCo Meeting in Switzerland: The second week of August will see key members of the ecosystem team and SteCo meeting in Switzerland to discuss their strategy for the remainder of the year.

• Active Recruitment: We are actively hiring Software Engineers and Mobile Engineers, particularly those skilled in Flutter. For more information and to check out all our current vacancies visit, Open Roles | Qubic.

What is SteCo? 

SteCo is the governance body of Qubic, elected by the “quorum” to ensure network security and streamline activities that drive Qubic’s growth. Our mission is to pioneer advancements in the blockchain and AI domains. We look forward to your participation in our upcoming AMA session and to sharing more exciting developments with you.

Past Updates

3rd Qubic Steering Committee Bi-Weekly Update 

2nd Qubic Steering Committee Bi-Weekly Update

1st Qubic Steering Committee Bi-Weekly Update