Through this post, we aim to cover all important information related to the Quadrant Protocol Token Generation Event (TGE) and token.
IMPORTANT NOTE: This post is not meant to be investment advice nor a solicitation for acquisition of Quadrant Protocol tokens. The full list of Disclaimers is available in our Whitepaper.
Problems in the Data Economy
There are four major problems facing the data economy:
- A widening AI data gap between the haves and have-nots
- Ubiquitous fake and inauthentic data destroying the usefulness of algorithms
- Unsustainable data feeds breaking production systems when they go online
- Unfair revenue distribution for the original data producers
Quadrant aims to solve these problems by providing a blueprint for mapping disparate data sources. It will support proof of data authenticity and provenance via data stamping, the creation of “Constellations” (data smart contracts) for disparate data sources, and fair remuneration and incentive sharing. Data Consumers can trust the authenticity of the data they purchase, “Nurseries” (Data Producers) are compensated fairly every time their data is used, and “Pioneers” (Data Vendors) have the incentive to create innovative Constellations. This new transparent ecosystem ensures that companies get the authentic data they need.
Quadrant Token Economics
Quadrant Protocol Token and Coin
Quadrant will utilize two different currencies for its network: eQUAD and QUAD.
QUAD, a native network coin, is designed to be used solely on the network. It will be used to stamp data, support simple and complex access structures as well as subscription payments, and for staking by Elons.
eQUAD is an ERC-20-compliant token that will be sold during the Token Generation Event (TGE). It may be converted into QUAD via a gateway when the Quadrant mainnet is launched. Conversion from token to coin is 1:1. A dynamic transaction fee from QUAD to eQUAD will occur to cover gas fees to execute the conversion.
Any wallet supporting Ether, including, but not limited to, MyEtherWallet, MyCrypto, Blockchain.info, Jaxx, or any Wallet supporting ERC-20 compliant tokens can be used to store eQUADs.
Quadrant Protocol Token Details
Total Supply: 1,000,000,000 eQUAD
Total Tokens available for Sale: 40%
Initial pricing: 1 eQuad = 0.05 USD
Hard Cap: 20,000,000 USD
The TGE will have a hard cap of $20,000,000 USD. If the TGE raises over $7,000,000 USD, the contributions garnered will be locked initially and made transferrable over the course of 4 years, with 40% becoming available upon the close of the eQuad token sale and the remaining 60% will be released annually to be applied towards the Company’s objects at a fixed rate of 15%. This is intended to ensure the long-term success of Quadrant while installing practicality to ensure no over-spending in the initial years.
Network wide, we will unlock the tokens within 30 days of the TGE.
Pool A– Crowd-sale
40% will be allocated for sale (Private Sale and Public Sale phases). Unsold eQuad will be held in reserve for a future token sale to be held no sooner than 2 years after the close of the Public Sale.
Pool B — Company
20% will be held by the Company in reserve.
Pool C — Company Operations
20% will be allocated towards advisory, security, and operational purposes.
Pool D — Company Reserve
10% will be allocated towards partner and community development to incentivize participation (these will be locked initially and made transferrable monthly with annual rates of 40%, 30%, 15%, 10%, and 5%).
Pool E — Team
10% will be allocated to the Quadrant Protocol team (these will be locked initially and made transferrable monthly over 5 years).
30% will be allocated for the building of the network, such as building SDKs for different applications (including mobile and IoT), creating front-end interfaces for the creation of Constellations, creating a portal interface for purchasing data products, and creating clients for accessing and reading the chain.
Business & Network Development
35% will be allocated for creating programs to encourage high-quality data being brought to the network. This includes a special program for the development of Elons. Based on the years of experience that the Quadrant Protocol team possesses, they will prioritize selling the missing data gaps in the market. The Quadrant Protocol team will also foster innovative use cases and solutions based on the data available in the network. This is intended to help more sellers in bringing high-quality data to the network.
Operations & Security
25% will be allocated for daily operations, running of nodes, network security, and the security of Constellations on the network.
Legal, Accounting & Compliance
5% will be allocated for ensuring that frameworks are in place for data licensing and that all accounting and compliance is done correctly.
5% will be allocated to ensure the smooth running of the system and that no one is shut out and thus cannot use the services due to unavailability of tokens.
Token Sale Information
Quadrant Protocol is no longer taking in applications for the private sale. The private sale is currently over-subscribed, and we will make an announcement on successful participants next week.
The public sale is slated for June 26, 2018. Interested participants are to complete our whitelist and KYC processes to take part in our public sale. Instructions for whitelist and KYC will be made soon.
Please join our official Telegram Group and Channel to stay notified for further announcements and developments.
Quadrant Protocol is implementing strict KYC and AML policies for all phases of the sale. All participants will be subjected to KYC/AML checks, and only those who clear these checks will be permitted to partake in the sale.
Citizens from the following countries are not allowed to take part in the sale:
USA, Canada, New Zealand, People’s Republic of China, Korea
IMPORTANT NOTE: To the extent a secondary market or exchange for trading eQUAD does develop, it would be run and operated wholly independently of the Company, the Distributor, the sale of eQUAD, and the Quadrant Network. Neither the Company nor the Distributor will create such secondary markets nor will either entity act as an exchange for eQUAD.