QIP-0044 · passed

Approve combination with Honker Holdings Ltd.

Approve the all-token acquisition of Honker Holdings Ltd. at an exchange ratio of 0.318 $QUACK per $HONK, and adopt the flying-V governance model effective at closing.

Proposer

0xGovernance.eth

Posted

Apr 20, 2026

Closes

May 4, 2026

For

17,904,331

Against

612,880

Abstain

301,442

Rationale

Honker operates a 4,800-kilometer hemispheric reserve corridor and 9 staging wetlands across the Atlantic, Mississippi, Central and Pacific flyways. Combining the protocols gives Quacker migratory-class custody capacity it cannot build organically within a reasonable number of breeding seasons.

Proposed action

Authorize the Custody Subcommittee to execute the definitive agreement at 0.318 $QUACK per $HONK, subject to customary adjustments. Appoint Gunnar Brandt-Hansen as Vice Chair, Anatidae Affairs, effective at closing. Adopt Honker’s flying-V governance model, under which lead-custodian responsibilities rotate quarterly.

Risk factors

Integration of a goose-denominated reserve into a mallard-denominated framework has no precedent. Geese are larger, louder and less receptive to oversight than mallards. Closing is subject to regulatory approval and seasonal weather conditions.