Quant Network ICO Review
There are almost 2 000 projects which have been built on top of the blockchain technology. Currently, we have 30+ different blockchains on the market and each of them has its own pros and cons. Quant Network is going to take control over all of them and provide you with necessary tools and environment. Additionally, several blockchains are designed specifically for enterprise needs (private blockchain) and have different configuration rather than public blockchains such as bitcoin or ethereum.
So, just imagine the situation when you’re going to build your own project on blockchain and you must choose only one blockchain or develop your own, which is quite expensive, by the way. You have only 1 choice so all advantages and disadvantages will come alongside with chosen blockchain. To leverage this problem, Quant Network is going to develop their own environment/protocol or even OS to provide interconnection between different blockchain. It means that in case if you’re choosing blockchain, no more need to care about its advantages or problems. Just use Quant Network solution – Overledger – and use all available blockchain at a time. You may find other use cases for the Quant Network product right in their whitepaper.
To serve such ecosystem as an Overledger, Quant Network introduces its own, native token – QNT which will be used as a mean of payment both for users and developers who is going to use Overledger. It’s an entire utility token and may be used only for an access to the Quant Network platform and of course, for secondary market trading. Currently, Quant Network is conducting their ICO and soon it will be finished (04.30.18). Let’s have a look at tokenomics of the Quant Network token:
- ICO Dates: 04.17 – 04.30 (Main sale)
- Total token supply: 54 385 964 QNT tokens
- Available for sale: 57 % (31 000 000 QNT)
- Tokens for team and advisors: 43 % (29 % for the Team and 14 % for the advisory board)
- Bonus: No bonus on the main sale
Quant Network’s ICO has been divided into 3 stages: Private Pre-Sale; Public Pre-Sale and Main Sale (current). According to the website of the project, Alchemmy – consulting company from the UK – became their private investor on the Private Pre-Sale. No other funds or institutions mentioned there. Therefore, we may suggest that Quant Network team mostly relies on the crowdsale than on private investors.
Such big percentage of tokens left for the team and advisors is not a good practice because of the ease of market manipulation, but these tokens (for advisors & team) will be locked for 12 month period after the end of crowdsale. So, probably, this portion of tokens will be locked at the time of listing on exchanges and will not have an impact on exchange rate.
The team of the project and Advisory board
The team of the project is not big as it is in similar projects, but in terms of previous experience, Quant Network team is one of the best at the moment. Let’s have a look at the key figures in their team.
- Gilbert Verdian – CEO and Co-Founder. He has received a bachelor degree from the University of Technology (Sydney, Australia) in 2002 and in 2005 completed his master degree at the same university. Working experience is more than 12 years of leading positions. The latest job mentioned at his LinkedIn profile is Federal Reserve System in payments department. His skill set is a mix of IT and business management skills. He is passionate about IT and CyberSecurity. Probably he will be responsible for the global strategy of the Quant Network.
- Paolo Tasca – Chief Strategist and Co-Founder. He has a doctorate in business and also very long and strong experience.Mostly work as an expert or advisor or at his own project as a co-founder.His skill set is verified and consist mostly of an economic area.
- Colin Paterson – CTO and Co-Founder. He has the longest employment history. More than 20 years. He is an expert in IT and security. Started the career as a pentester and than worked as Informational Security Architect and CTO. Has recommendations and only positive feedbacks.
Before the Quant Network project, team members were not working together and had no mutual projects. Advisory board of the project includes 7 members with different expertise, mostly form business management area. According to their LinkedIn profiles, they worked on different projects as advisors, but all that projects are non-blockchain. Not sure that their expertise will be useful in terms of blockchain technology, but they may help a lot with business processes and operational management for Quant Network.
Partners of the project
Alchemmy is a UK based consulting and investment company, is one and only company mentioned at the Quant Network website as an early investor. Our analytical department tried to find something from the past of the Alchemmy, but we can’t. Therefore, we have made an official inquiry regarding their participation in the project, but they did not reply. Similarweb shows that Alchemmy website does not have traffic and it seems that the company has been registered recently.
RoadMap and a current state of the development
Quant Network roadmap has started in 2016 when founders united and develop the basic concept of the future project. Totally, there are 10 steps on the roadmap and it covers 3 years from 2016 and up to the Q1 2019 – when Quant AppStore will be released. In our opinion, the roadmap should be more detailed and deadlines more clear. Currently, the project is at step 7 – ICO and SDK release (open source).
Regarding development stage, we found that Quant Network placed their code to the Github and developers already may check disclosed part of the Overledger code, but the number of commits is too low, so, probably, Quant Network team didn’t make their repository public or open source.
Quant Network is building an entire infrastructure for interconnections between different blockchains and protocols. Actually, they will be the first who is creating such functionality and it gives them a competitive advantage of First Movers in the industry. Further competition will strongly depend on the results of Quant Network.
Quant Network is using several business approaches, part of the code will be open source, which makes the project potentially very popular in the developer’s community and part will be closed and proprietary. They have already published part of their Overledgercode at Github and it makes them even more attractive to the community.
Regarding our investments, we are going to add this coin to our portfolio with a long-term perspective (up to the Q2 2019) when the last component of the project will be launched.