Quant - $QNT, Asset Review
Figure A
General Information-What is Quant
Quant Background
Quant Funding/Collaboration
Token Information-Tokenomics
Staking
Additional Information-
Overledger/mApps/MLTs
Technical Analysis
Conclusion
General Information-
1. What is Quant
Quant is a network that aims to utilize the “Overledger” to connect private and public networks via interoperability. The main purpose of the Quant network is to make it simple for blockchains and networks to bridge together. The secret to Quant’s interoperability is the use of Distributed Ledger Technology(DLTs) and Applicant Programming Interfaces(APIs) on the “Overledger” accordingly. APIs are stringed together on the “Overledger” allowing DLTs to work together simultaneously. Quant doesn’t even have its own blockchain but created a network that works jointly, achieving a multi-blockchain network.
2. Quant Background
Quant Network Ltd is a project-based out of London and founded by Gilbert Verdian and Paolo Tasca. Both founders have a strong background in the private and public sectors. Gilbert’s background in the public sector includes working at, EY, HSBC, BP, and PwC. For his private sector experience, he’s worked at HM Treasury, Ministry of Justice UK, Bank of England, and the Federal Reserve System. Paolo Tasca also has a heavy tech background in the banking industry and is an advisor to entities like Hedera, Nexo, United Nations, Bank of Canada, and much more. Together, they have heavy technology and financial services understanding of the world. They started Quant Network Ltd. because they understand there was a disconnect that needed to be bridged between blockchains.
3. Quant Funding/Collaboration
Quant has been through funding rounds, both seed funding and ICO with the following firms: Alpha Sigma Capital and Antonio Furtado for an undisclosed amount according to Crunchbase. It is important to note that Quant Network tried to raise ~37 million but fell flat and only raised 11 million during the ICO. Quant has partnered with Oracle to allow businesses to benefit from a multi-DLT solution. With this partnership, Oracle certified Quant Network’s “Overledger” to be used for Oracle’s blockchain platform which allows Quant to receive Oracle’s customer base, work with Oracle’s product team, and educate users. Together, they will help try to build out the Quant Network to fully realize interoperability. Quant was also recognized by the UK government as a supplier for a cloud framework and is a part of the Digital Pound Foundation building a CBDC with other entities like Ripple, Electroneum, and others.
Figure B
Token Information-
Tokenomics
$QNT(Quant) is an ERC-20 token that is used on the Ethereum network. Currently, the total supply of $QNT is 14,612,493 with a circulating supply of 13,413,953. $QNT is used by enterprise participants and communities to pay for an annual licensing fee. $QNT is also used as a payment method to transact within the “Overledger” accordingly. It is important to note that a licensing fee is measured in dollar amounts and not in $QNT. (E.g. a license will cost $1,000 regardless of the price of $QNT) The token breakdown of $QNT is absent and is not disclosed in a whitepaper or by the CEO. According to a video from CoinBureau the company held 4,648,234 tokens and the remaining 9.9 million tokens are circulating in the market as of November 2020.
2. Staking
$QNT is the native token for the Quant protocol. $QNT token holders have the option for their coins to be staked. At the moment there are no available platforms to stake your coins. In the past vendors like Kucoin allowed for staking and Gateway operators allowed a stake with the treasury to secure higher priority in the transaction order according to Binance. $QNT staking rewards range from 2.5-15% but decrease as the circulating supply gets closer to the total supply. At the time of writing, no information is public, if and when staking will be available again.
Figure C
Additional Information-
1. Overledger/mApps/MLTs
The Quant Network has core components like the Overledger Network and the Overledger OS. The Overledger OS is a patent-protected technology that enables access to mApps(multi-chain apps). Instead of using smart contracts, mApps operate on treaty contracts that allow one to build applications on multiple blockchains. This would mean that any mApps that are built may be compatible with any blockchain on the Overledger. - The Overledger Network is what enterprises and developers utilize to access the apps created. By paying an annual licensing fee others can join and buy/sell their mApps on the Overledger. The Overledger is the bread and butter of the Quant Network and needs continuous adoption should it continue to grow. - The Quant Network also supports Multi-ledger-tokens which is a digital asset pegged to fiat, which is usually from an institution. With MLTs, Quant may serve any institution that wishes to create stablecoins or even CBDCs. MLTs give the Quant Network an extra layer of versatility to expand its network.
2. Technical Analysis
$QNT has had an amazing run from $.16 to $427.49 yielding ~2500x+ return!!! Ever since $QNT hit all-time-highs, we have seen the price fall towards a high time frame demand zone (green box) which should act as a support region. Price is currently rising into a supply zone where we will see a sell-off occur. The way the momentum subdivides into resistance will give hints on how the next move plays out. Bottom structures typically take a long time to form and reverse when the bears are exhausted, so it's best to stay patient for a clear pattern. It's possible we revisit the green box and maybe even visit the "wick" zone. All in all, the price action of this chart is very bullish over the long term, and holding above the green support will be crucial.
Conclusion-
Quant Network is an interesting protocol because it doesn’t have its own blockchain. The network is tied together with APIs making it extremely easy for developers, governments or enterprises to get involved. Additionally, Quant is attractive in that manner because it bridges together different blockchains. Quant has also seen adoption from governments and enterprises proving the necessity of interoperability. MLTs and mApps also give the network extra flexibility for developers. Despite Quant’s smaller market size compared to its competitors, I believe that the network will continue to grow. Gilbert Verdian’s background makes me bullish on what’s to come next for this network and I can’t wait to watch what’s to come. Lastly, while I am excited to watch what Quant Network will do next, it doesn’t mean it's correlated to the value of the $QNT token.