QIP-0047 · passed

Ratify the first flying-V lead-custodian rotation

Ratify the initial lead-custodian order for the flying-V governance model adopted under QIP-0044, beginning Q4 2026.

Proposer

0xGovernance.eth

Posted

Aug 18, 2026

Closes

Sep 1, 2026

For

13,377,804

Against

2,061,730

Abstain

245,118

Rationale

QIP-0044 adopted the flying-V model but deferred the rotation order to a separate vote. The lead position carries the highest governance drag; trailing positions benefit from the wake of the lead.

Proposed action

Beatrix Mallard, CFA, Head of Custody Operations, will take the lead position for Q4 2026, followed by David Fitzgerald, Deputy Head of Custody Operations, in Q1 2027. Gunnar Brandt-Hansen will hold the right-wing anchor position. The rotation order will be published in each quarterly attestation.

Risk factors

A lead custodian who drops back before quarter end leaves the position open until the next ratified handover. Honker’s operating history indicates this occurs in fewer than 4% of rotations.