Overledger layers. Supply: Medium
MApps
Multi-chain purposes, or MApps, are basically good contracts that exist throughout a number of distributed ledgers. They permit decentralized purposes to leverage the information acquired from completely different networks to carry out operations in a number of networks concurrently, Quant additionally helps so-called multi-ledger tokens (MTLs) or digital belongings backed by actual funds in exterior sources. These MTLs can be utilized as stablecoins, loyalty factors, central financial institution digital currencies, that are issued and used throughout a number of distributed ledgers utilizing Overledger know-how.
Every MApp is remoted within the Overledger ecosystem and comprises the enterprise logic. When creating multi-chain purposes, builders want to find out guidelines on find out how to work together with the Overledger system and with different purposes. If vital, purposes in several networks can talk with one another by placing messages on the messaging layer.
MApps might use so-called treaty contracts to assist good contacts in a single community acknowledge standing and operations by good contracts in different networks. Treaty contracts will be described as good contracts which can be run off-chain for increased efficiency and supply the power to run good contracts throughout a number of blockchains, even these which don’t help good contracts such because the Bitcoin community.
Overledger use case
Let’s say you have got a MApp which represents a market that sells sure merchandise. MApp comprises guidelines that if the client buys your product in bitcoin, you’ll routinely pay your product provider in ether, ship some XRP to the supply firm to ship the product to the shoppers, and ship some a part of bitcoin to your personal reserve fund. It means when clients purchase a product, it triggers good contracts in several networks to carry out sure actions. The ETH and XRP transactions, in addition to the BTC transaction to the reserve fund, will occur concurrently as soon as the preliminary buyer’s BTC transaction is confirmed.
This is just one potential approach to make use of Quant’s Overledger system to realize interoperability and preserve operations in a number of networks on the identical time. Another Quant use circumstances might embody creating interoperable tokens which exist in several blockchains or performing cross-chain token swaps.
Quant’s native token
Utility
The QNT token is an Ethereum-based utility token that’s meant to offer digital entry to the Overledger ecosystem. QNT tokens have to be offered by enterprises and builders in change for an annual license for utilizing Overledger options. Nevertheless, the worth of the entry is mounted in fiat currencies, that means enterprises and builders don’t must buy QNT for the license. They pay for the license in fiat to the Quant Treasury which handles the conversion of fiat to QNT. QNT funds used for license charges stay locked for 12 months in layer 2 (L2) cost channels.
As well as, each enterprise or developer who desires to run MApps wants to carry a sure variety of QNT tokens. So long as QNT tokens are staked, builders might create and preserve their MApps. Builders might monetize their MApps and will use the treasury as a cost processor to cost funds for subscription or one-time transactions. Such monetization is assumed to be achieved utilizing fiat currencies or digital currencies, together with QNT. Finish clients may additionally maintain and pay with QNT tokens to get entry to MApps and use companies inside the Overledger ecosystem.
Token allocation
The preliminary token provide differs from the present one as a result of the group behind the challenge accomplished a burn of 9,545,765.950989192 QNT. The reason being thought-about to be the ICO which hasn’t achieved set targets due to troublesome market situations at the moment (bear market). The present complete QNT provide is mounted and comprises 14,612,493 QNT tokens.
The QNT tokens are assumed to be break up within the following approach:
- 9,964,259 QNT — tokens bought through the public ICO, pre-sale, and personal funding rounds.
- 2,649,493 QNT — the Quant firm reserve which is used for analysis and improvement, constructing infrastructure, and different functions.
- 1,347,988 QNT — tokens that belong to the corporate founders.
- 650,753 QNT — tokens that belong to the corporate advisors and employees.
The present circulation provide excludes Quant’s firm reserve, which can fluctuate relying on the Quant firm technique.
