Originally published at https://mrnasdog.com/research/qnt/inflation
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QNT Inflation Analysis · October 2026 · Mixed flows · supply roughly steady
QNT, the token of Quant and its Overledger network, has mixed flows and a supply that is roughly steady. No new QNT has been created since the 2018 token sale, so the only sell pressure in the last 90 days was a Quant team wallet that released 12,002 QNT on Oct 6 and Oct 10 2026. Against that, just 8.6 QNT was lost for good in the token contract. Net, circulating QNT grew +0.08% in 90 days, other trackers read +0.10%, and the next 90 days look flat at 0.00%.
The verdict, in one paragraph
Over the 90 days from Jul 25 to Oct 23 2026, QNT supply rose +0.08%: about 12,002 QNT entered the market against about 8.6 QNT removed, on a circulating supply of 14.56M QNT. Other trackers show +0.10% for the same window, a gap of only 0.02 percentage points, so there is no warning flag on this page and the two readings tell the same story. For the next 90 days we expect 0.00%, because nothing is scheduled to unlock and the October team release has no plan behind it. QNT is a fixed-supply token with a small team overhang: almost every coin already trades, and the only real supply risk is the company choosing to sell what it still holds.
Sell pressure: where new QNT comes from
Protocol inflation is 0. QNT is an ERC-20 token on Ethereum, not its own chain, so there are no block rewards and no staking pay. All 24.43M QNT that were ever created were made on Jun 25 2018, when the sale closed, and 9.55M of them were burned that September, which leaves today’s supply. One honest caveat: the old 2018 sale contract still has a working switch that could create QNT if its owner key used it. That key has not sent a single transaction since 2019, and no new QNT has appeared, but because the switch exists we do not call the QNT supply locked forever.
Vesting unlocks are 0. Staff tokens from the 2018 sale had a 12-month wait that ended in 2019, and QNT has no unlock calendar at all, so no cliff can land in the window.
Foundation and unscheduled unlocks are 12,002 QNT, and this is the one live row. Quant keeps two team wallets that are not counted as circulating. The second of them, funded from the first in October 2025, made its first ever outgoing transfers on Oct 6 2026 (2,001 QNT) and Oct 10 2026 (10,001 QNT), all to one new wallet that has not sold anything yet. Once those coins left the team wallet they joined the circulating count. Because this wallet has never moved before and there is no schedule, we book 0 for the next 90 days rather than guess at a repeat.
Long-term locked or bankruptcy supply is 0. No court case, estate or lock holds QNT. Three large wallets, two filled in 2018 and one in 2023, moved about 541,000 QNT in late September 2026 while the price surged, but those coins already counted as circulating, so the moves change who holds QNT, not how much exists.
Buy pressure: where new QNT goes
The programmatic buyback is 0. Quant is a private company and runs no buyback; banks and firms mostly pay it for Overledger in normal money, and no rule turns that income into QNT purchases.
The protocol fee burn is 0. Gas for QNT transfers is paid in ETH, and fees on Quant’s own Fusion network go to its operators, so no fee destroys QNT.
Foundation buying is 0. Quant has no foundation and has not announced any QNT purchases. The Clearing House network that Quant was picked for on Sep 24 2026 does not, as announced, require banks to buy or hold QNT.
New long-term locks are 0. Overledger licence fees are paid in QNT and Fusion users deposit QNT for fees, but both sit in contracts that still count as circulating, and node staking has no start date yet.
One extra row, coins lost in the token contract, takes out 8.6 QNT. People who send QNT to the token’s own address by mistake can never get it back, because that address has no way to move coins. The 9.55M QNT burned in 2018 sits in the same place. At this pace it removes about 8.6 QNT every 90 days, too little to change the reading.
Foundation and overhang
The tracked overhang is small. Quant’s first team wallet holds 25,939 QNT; its only move since 2022 was funding the second wallet in October 2025. The second team wallet holds 30,376 QNT after its October release. Together that is 56,315 QNT, about 0.39% of the supply, with no published release plan. The new wallet that received the 12,002 QNT also still holds all of it; those coins now count as circulating, so a sale from it would not add to the figure again.
Two further items sit outside the count but are watched. The three large wallets that moved in September hold about 1.32M QNT between them; they are already in circulation, so they matter for price, not for supply. And the 2018 sale contract’s creation switch stays parked behind one owner key. We read the team wallets and that key on-chain at every rebuild: if a team wallet’s balance falls between refreshes, the outflow enters the foundation and unscheduled unlock row at the next refresh.
How QNT compares to other fixed-supply utility tokens
QNT belongs with tokens whose supply was fixed at launch and is already almost fully unlocked. With 99.6% of its supply circulating, it has far less waiting to unlock than most tokens of its size, where team and investor cliffs can add several percent of supply in a single quarter. Its supply story is closer to an old fully distributed token than to a newer project still paying out insiders.
Against interoperability rivals the contrast is in the mechanism. Chainlink’s team releases LINK from its locked wallets every quarter (18.75M LINK on Oct 9 2026), and Hedera’s council releases HBAR from its treasury; both add real new float every quarter. QNT has no emission and no reward budget at all. The flip side is that QNT has no burn and no buyback either, so nothing shrinks the supply: a fixed cap rather than deflation.
Compared with exchange tokens that burn coins every quarter, QNT is neutral rather than shrinking. Its supply edge is that it cannot be diluted by schedules; its weakness is that demand has to come from people and firms choosing to hold it, because the protocol itself never buys.
What to watch in the next 90 days
First, the two Quant team wallets. After the 12,002 QNT release on Oct 10 2026, any further outflow from the 56,315 QNT they hold would add new supply, and a sale from the wallet that received the October coins would show up as selling on the market.
Second, The Clearing House network. Banks are working on design and testing through late 2026, with a start planned in the first half of 2027. Any rule that banks must pay or lock QNT would be the first real buyer the token has; so far there is none.
Third, staking on the Fusion network. If node staking opens with a lock, staked QNT could leave the circulating count and become a new buy-side row. No date has been given.
Fourth, the 2018 sale contract’s owner key. It has been silent since 2019. Any transaction from it would be the first sign that new QNT could be created.
Summary
QNT is a fixed-supply Ethereum token with mixed flows and a roughly steady supply: no new QNT has been created since 2018, and in the last 90 days supply grew +0.08%, almost all from a 12,002 QNT Quant team wallet release on Oct 6 and Oct 10 2026. There is no buyback and no fee burn; only 8.6 QNT was lost in the token contract. The main supply risk is the 56,315 QNT still in two team wallets, about 0.39% of supply, and the parked 2018 creation switch, unused since 2019. For the next 90 days we expect supply to stay flat at 0.00%.
MrNasDog Pressure Framework analysis of QNT, Metric 1 — Inflation. Data + explanation only. Not financial advice. Checked Oct 23 2026.
Original: https://mrnasdog.com/research/qnt/inflation · Data + explanation only. Not financial advice.