QTC

Quantus Network · Post-quantum PoW L1 (ML-DSA signatures, Substrate runtime)

9 /100

T5Impaired · Emerging: graded, not ranked

No engine yetStableReviewed Oct 23, 2026

DemandSoundnessDurability

6 of 452 of 401 of 15

Key facts

SupplyFloat 5% of issued supply

Circulating 300.8K, 1%
Locked or unvested 5.5M, 26%
Not yet issued 15.2M, 73%
Max 21.0M

FDV / market cap

19x

$493.6M / $25.8M

Market cap

$25.8M

Price $85.81, 7d −25.0%

Market data: CoinGecko, Oct 24, 2026. Scores reviewed Oct 23, 2026.

Assessment

Quantus has no value engine: transparent transfer fees go to miners, and the burn on private wormhole transfers has no measurable volume. Genesis minted ~98% of the ~5.8M QTC issued to 46 investor and team grants and the company, with no public sale, so float is ~5% and 5.46M QTC unlocks from Sep 9, 2027 at ~150.5K a month. Matching the hashrate of a ~$27M-float chain costs far under $10M. Mining adds ~12% to issued supply over the next year, and a ~10-member Technical Collective can push runtime upgrades, issuance included, without a holder vote.

How value reaches holders

Almost nothing reaches holders: transparent transfer fees go 100% to miners; private wormhole transfers pay 0.04% with an effective 25-50% burn; no staking or treasury cut of emission. 21M cap, ~5% of the 5.75M issued circulating (~$27M at ~$93, Oct 19, 2026); 4.96M grants + 0.5M treasury locked to Sep 9, 2027, then ~150.5k QTC/month for 36 months. Price is set mainly by the treasury-seeded Rhea pool on NEAR, a net seller of ~58.3k QTC (~$4.40M)

Score anatomy

Demand

6 / 45: the stronger of two routes, plus adoption

Why would anyone hold it: does value reach the token, and is the network or product used today?

Holder routing engine input

Approved or designed but inert, indirect sinks only, or flows into a treasury or endowment

How this is scored

Revenue reality engine input

Under $0.5M/yr, or emissions-subsidized only

How this is scored

Monetary usage engine input

Pays transfer fees; the private-transfer burn has no measurable volume (panel 1).

Pays its own network's fees (gas never counts higher, whatever the size of the economy)high confidenceHow this is scored

Adoption ×3

No measurable use: the private-transfer burn has no volume and the chain carries only mining and transfers of the token

No product use: the token is the product, or the network or product is not live or sits idlelow confidenceHow this is scored

Two routes, the stronger counts

Revenue 0, minus 4 for routing 1 = cash flow 0. Money use 1. The engine is the stronger route: 1.

Soundness

2 / 40

Can a long-term holder trust the rules: supply, float, distribution and control?

Supply discipline ×3

Mining adds ~0.70M QTC in 12 months (~12% of 5.8M issued), and a ~10-member Technical Collective can push runtime upgrades, issuance included, without a holder vote.

Over 15%/yr, or a key, company, committee or multisig can mint without limit or redirect issuancemedium confidenceHow this is scored

Float and unlocks ×1

Float ~5% (297K of 5.8M issued); 5.46M QTC of genesis grants unlock from Sep 9, 2027 at ~150.5K QTC a month.

Under 15% float, or a cliff of 25%+ of float within 12 monthshigh confidenceHow this is scored

Distribution ×2

Genesis minted 5.67M to 46 investor/team grants ($2.42M raised at $40M/$100M valuations) and the company: ~98% of the ~5.8M QTC issued; no public sale

Insiders received over 50%, or one organization directs over 30% todayhigh confidenceHow this is scored

Decentralization and security ×2

A ~10-member Technical Collective can fast-track Substrate runtime upgrades with no holder exit window, and matching the hashrate of a ~$27M-float chain costs far under $10M

A halt, rollback or exploited consensus bug in the last 24 months, attack cost under $10M, or a foundation-selected validator set or small multisig can halt or upgrade with no meaningful exit windowmedium confidenceHow this is scored

Durability

1 / 15

Is it big, proven and reachable by institutions?

Scale ×1

$26.2M market cap (band 1), $2.5M/day median volume (band 2), no flags.

Marginal: $10-50M market cap and $250K/day+How this is scored

Track record ×1

Mainnet launched in 2026: under 1 year.

Under 1 yearhigh confidenceHow this is scored

Institutional access ×1

No top-tier listing: BigONE, SafeTrade and NEAR Intents (CoinGecko tickers, Oct 23, 2026).

No top-tier exchangehigh confidenceHow this is scored

What would move it up

To reach T4 Speculative, one gate is still open:

Supply 0needs 1(open)

Tier outlook · next trigger Sep 9, 2027

Stable

Supply rises to 1 only if runtime upgrades that touch issuance require a binding holder vote
Overhang: the Sep 9, 2027 unlock start, ~150.5K QTC a month against a ~5% float
Usage: measurable private-transfer volume and cumulative burn on-chain
Access: a first listing on Binance, Coinbase, Kraken, OKX or Bybit, beyond BigONE, SafeTrade and NEAR Intents

Research report

Oct 12, 2026 · source confidence 75%

Quantus is a proof-of-work chain launched in September 2026 around NIST post-quantum cryptography: ML-DSA signatures, ML-KEM networking and zero-knowledge aggregated private transfers. The supply is capped at 21 million, of which 27% was minted at genesis, mostly to investors and the team behind a one-year lock followed by three years of linear vesting from September 2027. Today only about 5% of issued supply circulates, so the market value on the cap is roughly seventy times the value of the liquid float. Transfer fees go to miners, with a partial burn only on private transfers, and there is no staking. Price discovery runs mainly through a NEAR Intents liquidity pool that has sold roughly 100 thousand QTC into the October rally, alongside two smaller exchanges. Mining adds close to three times the current float over the next year. The main external risk to the thesis is that Bitcoin and Ethereum both have post-quantum migration work under way.

Structure (14 facts)

Chain: Quantus mainnet (native, Substrate runtime upgradeable by referenda or a 10-member Tech Collective fast track); wrapped as nep141:qtc.omft.near on NEAR Intents; no ERC-20; the MPC threshold-signature bridge is still in audit (HashCloak)
What it is: post-quantum PoW L1: ML-DSA-65/87 signatures (FIPS 204), ML-KEM-768 networking, Poseidon2 PoW over Goldilocks (chosen for ZK compatibility), Plonky2-aggregated private "wormhole" transfers; founder/CEO Christopher Smith (previously Lunyr, whose LUN token is worth ~$21k today, and FactoryDAO)
TGE: mainnet 2026-09-09; SafeTrade trading from 2026-09-11, NEAR Intents / near.com launch 2026-10-06, BigONE; CoinGecko rank ~578
Max supply: 21,000,000
Total issuance approx: 5,734,143
Circulating supply (approx): 278,000
Market cap (approx): $38,900,000
Emission: reward = (21M - total issuance) / 50,000,000 per block, 12 s target (13.8 s observed), no halvings; 0.3053 QTC/block at block 210,317 (RPC-verified), ~2,200 QTC/day (~$310k/day), ~0.78M QTC in the next 12 months, i.e. ~2.8x the liquid float
Allocation: Genesis mint: 27%
Mined: 73%
Grants investors team: 23.6%
Treasury locked: 2.4%
Treasury liquidity: 1%
Unlocks: genesis 5.67M: 4,957,502 in 46 investor/team grant rows plus 502,438 treasury locked 365 days then linear over 1,095 days (starts ~2027-09-09, ~150.5k QTC/month to ~2030-09, ~19x today's float in total); 210k treasury liquidity tranche vested over 16 days, fully liquid since ~2026-09-25. Reported raise $2.42M at $40M and $100M valuations (Balaji-led second round with Nivi and Mert), i.e. ~$1.90 and ~$4.76/QTC on the cap; unverified
Value accrual: Weak. Transparent transfer fees (~0.006-0.008 QTC) go 100% to miners; private wormhole transfers pay 0.04% with half to the miner and an effective 25-50% burn; small burns on reversed high-security transfers and multisig fees. No staking, no treasury cut of emission, no usage metrics published. Post-quantum signatures protect against key theft but generate no revenue
Liquidity provision: Price is set mainly by one solver-only Rhea DCL pool (USDC/QTC, 0.2% fee) on NEAR, verified on-chain 2026-10-12: 8.05M USDC and 54.1k QTC left, with net 101.0k QTC paid out to buyers against net 9.39M USDC in (avg ~$93). Consistent with a one-sided QTC ladder seeded from the treasury liquidity tranche; LP identity unverified. Dozens of QTC-paired memecoin pools (nearlytrade) surround it
Liquidity: ~$17M/day: BigONE ~$7.5M (no listing announcement found), NEAR Intents ~$6M, Rhea ~$2.9M, SafeTrade ~$0.35M
Moat risk: Bitcoin BIP-360 (P2MR) merged 2026-02-11 without an activation path; Ethereum post-quantum devnets targeting ~2029; QRL (8 years old, ~$96M mcap) never re-rated on the narrative; no full protocol audit

Market figures at report date (Oct 12, 2026)

Price (approx): $139.7
FDV (approx): $2,930,000,000
All-time high / low: 186.19 (2026-10-08); ATL 10.20 (2026-09-12); ~$14 to ~$170 between 09-12 and 10-09, the first 10x on SafeTrade at under $2M/day

Sources (10)

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