QuantStamp Review

Review of Quantstamp.

I thought I would review the Quantstamp Token. This is a new ERC20 token that can be used by smart contract writers to audit their smart contracts. It does this through the use of automated verfication software running on special ethereum nodes.

As I understand, bounties are posted by the developers in Quantstamp tokens, and those who run the Quantstamp verification system nodes can receive the bounties by finding errors.

This sounds like a useful project, as errors in the smart contract code can have significant consequences. And there are no shortage of contracts that need auditing, with plenty of icos every week. Quantstamp have already demonstrated their system on the recent Request network ICO. I like this point as it demonstrates a viable product.

I do have concerns with the proof of care bonus system. Those who promote or somehow show that they care about Quantstamp can receive bonus allocations across three tiers. Tier 1 proof of care contributors to the presale receive twice as many Quantstamp tokens per ether as those contributing to the public sale. No matter how much recipients profess to care for the long term, a 50% discount to the public sale price (100% gain) is a strong incentive to dump at least part of their stake, leading to selling pressure initially. With Bitcoin rising, many token sales are trading at below their offer price at the moment.

I also have concerns that it is not easy for people to participate in ICOs, so there shouldn't be any additional barriers placed on them.

Check it out yourself, and DYOR research. Please post any comments.

Disclaimer, I may participate in the sale, and I may receive a proof of care bonus myself. I haven't decided yet.

quantstamp.com