QNT is a utility token. It is a method of payment for Quant services, particularly as a means for Overledger users to pay their fees.
Every client and developer must buy a licence and can use QNT to pay for transactions. This requires tokens to be locked up for 12 months. The cost of running the Gateways and performing read/write operations on Overledger requires the use of the QNT tokens.
The max supply of QNT tokens is set at 14,612,493 tokens. The QNT tokens were split in the following way:
* 9.9 million QNT tokens were sold to the public during the ICO;
* 2.6 million QNT tokens were assigned to the company reserve, to keep the project running;
* 1.3 million QNT tokens were reserved for the company founders;
* 651,000 QNT tokens were issued to the company advisors.
Currently, the circulating supply of the token is 12,072,738 QNT. The extra 2 million tokens are held by the company. These tokens are unlocked and could be sold or issued at any time.