Qubic Steering Committee Restructure Passed: Moving Forward with a Fresh Vision
Written by
The Qubic Team
Nov 7, 2024
We can now announce that our recent Steering Committee Restructure Proposal was met with support from the Computors, passing the vote yesterday (6th November, 2024). This extends the mandate of the Steering Committee (SteCo) until 30th October, 2026, under a new, refined structure designed to promote growth, transparency, and decentralisation.
Computor-Approved Proposal: What This Means for Qubic
The approved restructuring brings improvements to the operations of SteCo, professionalising the team, empowering community involvement, and providing a solid foundation for our ambitious roadmap. It allows us to address the evolving needs of Qubic's ecosystem, ensuring that our community, partners, and stakeholders will thrive in a sustainable environment.
Critical Funding for the Next Steps
To supplement this new structure, SteCo will request funding from the Computer-Controlled Fund (CCF). A draft funding proposal will be presented today for the community to discuss.
SteCo History
The Steering Committee, or SteCo, was formally established on 22nd September, 2023, to formalise Qubic's governance. Initially focused on the areas of technology, marketing, partnerships, and community, the SteCo served until 31 March, 2024. Later, more areas of focus would be added: Ecosystem and Events, Operations & Reporting, and Finance to better serve the expanding needs of Qubic.
In April 2024, SteCo was re-organised for its second term, running until 10th October, 2024. This new phase emphasised creating a comprehensive organisational structure beyond just marketing, incorporating tech, governance, finance, and community building.
During its terms, SteCo achieved key milestones, such as building core teams in technology, marketing, ops, and ecosystem. Qubic was listed on several exchanges; the website was launched along with the first mobile wallet; strong branding was established, and the community grew across all channels. All this laid the foundation for further growth and set the stage for future developments in 2024 and beyond.
The Third Term Objectives (Starting 30th October, 2024)
Develop a vibrant ecosystem for stakeholders (holders, miners, partners, and institutions)
Advance AI research and core development
Ensure Qubic’s ecosystem financial health and long-term success
Summary of Key Results (Starting mid-April)
Governance / Project X
Cutting max supply from 1,000 trillion to 200 trillion
Introducing a new emission model
Launch of two smart contracts (CCF and XYZ) for decentralised fundraising
Qearn as the first grantee
8% to CCF accepted by Quorum
Partnership Listings
Exchanges: gate.io, AscendEX, XT.com, bit2me, bitpanda, BitGet, MEXC
Marketing & Ecosystem
Overhauled marketing approach in Q3, with over 160 announcements
Increased impressions on X by 30% and engagement rate by 15%
Hired Serotonin for PR and growth marketing; launched "Forget What You Know. This Is Qubic" campaign
Expanded cooperation with a Hong Kong-based agency for the Asian, especially Chinese, market
Programs Launched: Qubic Grants Program, Qubic Ambassador Program
Events
Blockchain Session #4, 3rd Global Qubic Summit, Hackathon Bishkek, KBW, Token2049 (with own event), The Merge (with own event), Dubai Binance Blockchain Week (with own event)
Qubic Team
Key hires from companies such as Google, Binance, Filecoin, and Meta
Created a Scientific Advisory Board, onboarded world-leading AI scientists
Tech
Anti-dust feature, migrated wallet and explorer to qubic.org, Tech AMA/dev sessions
Products
Quottery launched (proof of concept for EURO, now live)
Public RPC infrastructure rolled out, Android wallet launch, POC start for “Custom Mining”
Qubic Team & Operations
Bi-weekly team all-hands, SteCo updates, monthly AMAs, and roadmap published
Implemented an OKR framework
Responsibilities of SteCo
The Steering Committee (SteCo) is an entity elected by the "Quorum," responsible for contributing to the strategic direction of Qubic, streamlining tactical activities, and coordinating day-to-day operations.
Core Responsibilities
Set strategic direction for Qubic core development and adjacent tech teams
Oversee marketing growth activities to attract new users and partners
Maintain an operational structure that develops talent and aligns with regulatory developments
Provide regular technical, marketing, financial, and operational updates
Governance
Qubic's governance structure prioritizes transparency, accountability, and flexibility.
Key Principles
Term: Members serve a 2-year term, with re-elections every two years
Member Removal: Quorum and SteCo can remove workgroup leads by a majority vote
Compensation: SteCo members work full-time and are compensated
SteCo Funding: SteCo requests funds from CCF based on a budget process
Proposal Process: SteCo submits periodic funding proposals to CCF for core activities
Financial Reporting: Regular updates provided on budget use and progress
Qubic Legal Entity
To support legal flexibility, we will establish a Swiss association, protecting SteCo, founders, and advisors through a legal wrapper. This association will facilitate banking, contracts, payments, and sponsorships.
New SteCo Structure
The restructure introduces new roles with redefined responsibilities.
Ecosystem & Partnerships Lead: Albert joins SteCo, strengthening ecosystem expansion.
Technical Representative: Zgirt will lead Operator and Mining Relations, focusing on partnerships in the GCC region.
Marketing Lead: Foley continues as Marketing Lead until a new hire is found.
Community Lead: Tom55 will work closely with workgroups to decentralize community management in 2025.
Strategy, Finance, and Operations Lead: Talentnodes remains responsible for operations, finance, and strategy.
SteCo Groups and Their Responsibilities
Marketing: Increases brand awareness, visibility, and user engagement
Ecosystem & Partnerships: Drives partnerships, integration, and exchange listings
Operator and Mining Relations: Focuses on miner distribution and partner relations
Community: Manages community on Discord and Telegram
Strategy, Operations & Finance: Handles SteCo’s operations, reporting, and talent management
Scope of SteCo
SteCo plays a vital role in Qubic's growth and success, with responsibilities including alignment of activities, public representation, and project growth.
Major Objectives
Develop a vibrant ecosystem
Advance AI Research and Core Development
Ensure Qubic’s ecosystem financial health
Decentralisation
The Steering Committee is committed to decentralisation through initiatives such as:
Ecosystem Funding: Ambassador programs, working groups, and development grants
Transparency: Monthly financial updates on spending
Decentralised Development: Supporting open-source contributions and funding for community-led projects
Community Management: Transitioning Discord and Telegram management to the community
Decentralised Communication: Encouraging announcements and achievements from Qubic projects
Final Thoughts
The passing of this restructuring proposal provides a solid foundation for sustainable growth, decentralisation, and innovation. We are grateful for the community's trust and support as we advance Qubic's mission.
Proposed by Foley, Talentnodes, Tom55, Alber, Zgirt