Home News Quanta Discloses Royalty Payment Initiative, Introduces New QNTX Token

Quanta Discloses Royalty Payment Initiative, Introduces New QNTX Token

by Monica Padillo

Quanta has begun making enhancements in its ecosystem as part of an effort to improve its blockchain-based gaming, financial technology, and e-wallet services.

According to the announcement, one of the blockchain lottery operator’s planned initiatives is paying royalties in ETH to eligible QNTR token holders in June 2020. Quanta is still considering its plan for the next royalty payments and distributions after the first royalty payment.

The company has also recently introduced a new token called QNTX, which can be used in various cases such as gaming, free-to-play social impact lotteries, fintech, escrow, approve-and-call functions, and payment services.

The new token is expected to help Quanta expand its new gaming licenses and process the deployment of Quanta Pay for selected markets.

Current QNTU holders can roll their tokens into QNTX or trade out of their QNTU positions through public crypto exchanges on or before May 1 in order to swap their tokens for QNTX.

Quanta will conduct the token swap by converting all QNTU tokens into QNTX tokens.

The company explained:

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 1.

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 1, 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.

Quanta added that it will freeze exchange trading of QNTU on all listed exchanges on May 1 but relist the new QNTX token on or around September 1. 

However, 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.

The company noted that it will be rolling out more projects soon. Check out its roadmap below: