[8 March, 2020, Hong Kong]— Following strategic review, Quanta is now rebuilding its ecosystem, utility and token model towards its goal of using blockchain solutions to create gaming, fintech and e-wallet services that make social impact to targeted markets.
As promised, Quanta will warrant payment of royalties to eligible token holders. Upon compilation of all wallet addresses and royalty calculations, we will proportionately pay this royalty in ETH back to those wallet addresses on record. Payment date of ETH will be made in June 2020. Since QNTR is more than likely treated as a security (ie., pay dividends), review is ongoing on subsequent future royalty payments and distributions most efficiently.
QNTU’s utility was limited based on the existing ecosystem which would support the historical token price trajectory since inception. In order to achieve Quanta’s expansion of new gaming licenses and future deployment of Quanta Pay with the offering of various digital services and payments to targeted markets, a new token QNTX is introduced by management with expanded utility from gaming to free-to-play social impact lotteries to fintech, escrow, approve-and-call and payment services.
To reward current QNTU holders and allow for Quanta to complete the ecosystem expansion, token holders will be able to swap for the new token by rolling their current QNTU token into the new QNTX token. Or alternatively, token holders may always trade out of their QNTU positions through the public crypto exchanges no later than May 1st.
Aligned with the new ecosystem, a token swap will be implemented by conversion of all QNTU tokens into QNTX tokens. Price consolidation will be performed by conversion at 20,000 QNTU to 1 QNTX to bring back the token price to a more comprehensible monetary value (e.g., 1,000,000 QNTU at $0.00002 = 50 QNTX at $0.40). This will be fully actioned by the end of June based on the final QNTU ending price from CoinMarketCap on May 1st.
Staking options and full wallet address details will be provided by the end of March 2020 to all QNTU token holders on a one-time basis by rewards of new QNTX tokens based on holding period. If you pledge tokens to our stipulated wallet addresses by May 1st, Quanta will give you more bonus tokens based on the holding period. For 1M, 3M, 6M, 1Y or 2Y maturity, we will reward holders with an extra 10%, 15%, 25%, 50% or 100% respectively in new QNTX bonus tokens.
In order to complete the above plan, exchange trading of QNTU will freeze on May 1st on all listed exchanges but relisting of the new QNTX token will take place on or around September 1st. Full proper procedures, complete listing of staking wallet addresses by maturity band and a support line will be released and communicated to all token holders by the end of March 2020.
We hope that you will continue with the aspirations and exciting rebuild of the Quanta project, its Quanta Pay e-wallet and its newly designed QNTX token. Please refer to the token roadmap and look out for much more exciting announcements soon.
Quanta is a pioneer in the development of blockchain solutions for gaming. In 2017, the company launched the first licensed blockchain lottery, fully utilising blockchain together with its NMI-certified random number generator, Randao, which is entirely built and operated on blockchain. Quanta’s utility token, QNTU trades on six renowned cryptocurrency exchanges including HitBTC and Bit-Z.
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