Quant’s goal is to help further blockchain adoption among enterprises. It is a blockchain interoperability network and offers blockchain solutions built around their operating system called Overledger. It is the first operating system to be built for blockchains.
What makes Quant unique and what can we expect from the QNT token?
How it started
Quant was founded in 2018 by Gilbert Verdian, Colin Paterson and Paolo Tasca. All three are very distinguished in the blockchain space and early pioneers. It started with an ICO (initial coin offering) that raised $11 million.
Quant aims to solve interoperability issues by bridging the gap between different blockchains and enterprise software. These different blockchains are able to communicate through the Overledger API gateway. Both Paterson and Tasca are no longer with Quant Network, though.
The Quant (QNT) token
The native utility token is Quant (QNT) and serves multiple functions. It can be used by developers and enterprises to buy a license to use the Quant platform. They don’t have to pay in QNT though: the buyer pays in fiat and the Quant treasury uses that to buy QNT tokens. These are locked up for 12 months.
If a developer chooses to build MApps (multi-chain applications) on the network, they are required to hold a certain amount of Quant tokens. Users of the network also pay annual fees in QNT for running gateways. In return for running these, they receive a percentage of the transaction fees.
The maximum supply of Quant is 14.612.493 QNT. At the ICO, 9.9 million of those were sold to the public, and about 1.95 million tokens were reserved for the founders and company advisors.
They reached their all-time high of just under $400 back in the summer of 2021.