Key conclusions
- The clearing house of the largest US banks has chosen the technology of the British company Quant for the settlement network in tokenized deposits. The chamber’s systems pass through more than $2 trillion a day.
- The price of the QNT token from the same company increased several times in a week, and neither of the two announcements about the contract mentions the name of the token even once.
- The document submitted by the company in July clearly states that the token does not give the right to dividends, interest or revenue.
If you looked at the top gainers list over the weekend, you saw QNT there. At the peak of the week, the token reached $373, close to the 2021 record. The reason is true and is stated in two communications of September 24. I’ve read both and both are missing the same thing.
What was signed by the clearing house of the largest banks
Does this mean that the contract is crap? NO. An institution that spends over $2 trillion a day does not take the technology from the announcement.
Is there a QNT token in the contract?
He’s gone. Neither the chamber’s announcement nor the company’s announcement mentions the name QNT even once. The agreement concerns the technology of Quant Network Ltd, a private company from Great Britain. Describes the software layer, not the asset.
One number is circulating on industry websites and is not available in the source. BeInCrypto and FXStreet write about twenty-five banks participating in this network. The chamber’s announcement does not include a single participant’s name, only a sentence about financial institutions of all sizes.
Banks that can be mentioned by name are co-owners of the chamber. The list of those registered for the new network does not exist publicly.
What does this token give to the holder according to the company itself?
Revenues from the contract go to the company. Nothing goes to the token holder, and the company itself writes this in its own document.
What does this mean for you
A company’s contract and the demand for its token are two separate things. By purchasing QNT after this week, you are buying a bet that the licenses will one day catch up with the valuation. You’re not buying a share of $2 trillion a day. It’s a bit like buying shares in a company that cleans a bank’s office building and hoping that you will make money from the bank’s turnover. This bet may work out for you. It is not the same as what the market thinks it is.
Check what exactly you are holding, because the numbers about this company are circulating on the Internet in incorrect versions. A tokenomics audit from 8Blocks reports that the company holds 65 percent of the supply in vault. In the company’s document, the same number describes the tranche burned in 2018. The audit mistook burn for stock, and the number was lost.
In the company’s December 2021 announcement, the license fee is one hundred pounds per year. No one has added a new amount under this sentence this week.
