QUBIC
Qubic · Useful-PoW L1 / on-chain AI
Key facts
- Circulating 145.11T, 73%
- Locked or unvested 33.33T, 17%
- Not yet issued 21.56T, 11%
- Max 200.00T
Market data: CoinGecko, Oct 24, 2026. Scores reviewed Oct 23, 2026.
Assessment
Qubic has no working value engine: the external-revenue buyback from DOGE and LTC merge-mining was paused by computor vote at epoch 220 (Jul 1, 2026), and QU only pays smart-contract fees and IPO bids. The protocol burns ~77.5% of the fixed 1T weekly emission, yet net issuance still runs ~6.7% a year, and the computor set votes any change. There was no sale, VC or premine, though early epochs went to an undisclosed founder-adjacent set. Computors halted the chain on Oct 18, 2026 and froze ~87% of the 2.94T QU drained from 1,404 weak-seed wallets, so the same 676-member set that sets issuance can also halt and freeze balances.
How value reaches holders
External-revenue buyback paused: DOGE/LTC merge-mining was halted by computor vote at epoch 220 (Jul 1, 2026); the last buyback epoch was 219, with no buyback block since Jun 30 (~$2.1M over 31 epochs while it ran, 100% to computors from epoch 210, so revenue burns stopped earlier). Since epoch 227 (Aug 19, 2026) the protocol burns ~77.5% of the fixed 1T QU weekly emission; net emission ~227B QU/epoch (~6.7%/yr) at epoch 235
Score anatomy
Demand
9 / 45: the stronger of two routes, plus adoptionWhy would anyone hold it: does value reach the token, and is the network or product used today?
Approved or designed but inert, indirect sinks only, or flows into a treasury or endowment
Under $0.5M/yr, or emissions-subsidized only
QU pays smart-contract fees and IPO bids (burned); transfers are feeless and there is no third-party collateral use.
Pays its own network's fees (gas never counts higher, whatever the size of the economy)medium confidenceHow this is scored
Merge-mining stopped Jul 2026 and the chain halted Oct 18, 2026 after 1,404 wallets were drained; no measurable outside use
Marginal or fading: negligible use for its size, usage down 60%+ year on year, or a lost forkmedium confidenceHow this is scored
Two routes, the stronger counts
Soundness
16 / 40Can a long-term holder trust the rules: supply, float, distribution and control?
Net ~227B QU per epoch (~6.7%/yr, epoch 235) after the protocol burns ~77.5% of the fixed 1T weekly emission; computors, the consensus set, vote any change.
3-7%/yr net growth without a hard capmedium confidenceHow this is scored
No vesting; ~33T QU (~23% of circulating) is user-locked in QEarn for up to 52 weeks and returns weekly.
Small tails only, or 85%+ of supply liquidmedium confidenceHow this is scored
No sale, VC or premine: QU is emitted weekly to the 676-computor set; early epochs went to a small founder-adjacent set and the CFB-run arbitrator, with recipients undisclosed
Insiders received 10-25%, or one organization directs 3-10%low confidenceHow this is scored
Computors halted the chain on Oct 18, 2026 after 2.94T QU was drained from 1,404 weak-seed wallets and froze ~87% of it on-chain, after a June 2026 halt with an in-the-wild FourQ exploit
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 windowhigh confidenceHow this is scored
Durability
4 / 15Is it big, proven and reachable by institutions?
$59.7M market cap (band 2), $1.2M/day median volume (band 2), no flags.
Small: $50-250M market cap and $1M/day+How this is scored
Mainnet since Apr 2022 (4.5 years), and the June 2026 network halt with a live FourQ exploit falls inside 5 years.
3-5 years, or a rollback, coordinated chain-wide halt or restart, or a $50M+ exploit in the last 5 yearshigh confidenceHow this is scored
No Binance, Coinbase, Kraken, OKX, Bybit or Upbit spot listing; trades on Bitget, Gate, MEXC and LBank (CoinGecko, Oct 23, 2026).
No top-tier exchangehigh confidenceHow this is scored
What would move it up
To reach T3 Mixed, 3 gates are still open:
- Score 29needs 40(open)
- Value engine 1needs 2(open)
- Adoption 1needs 2(open)
- Supply 2gate 1(met)
Tier outlook
Stable
- Engine needs a paying buyer: a resumed merge-mining block or paid Aigarth output routed to burns rather than computors
- Supply falls to 1 if net issuance passes 7%/yr (circulating grew ~7%/yr over epochs 228-232)
- Security and track record stay at their floor while halts recur (Jun 2026 FourQ exploit, Oct 18, 2026 drain and freeze)
- Materiality: a market cap under $50M (~$59.7M at review) moves it to the emerging list
Compare with
How the ranking works and how QUBIC compares: see the full ranking. This entry as JSON:
GET https://tokens.10102.io/api/v1/tokenomics?symbol=QUBIC