Tokenomics
$QCT Allocation
Description
Token Name Quakecore Network Token ($QCT): The official token of the Quakecore Network, serving as the central medium for various activities and transactions within the ecosystem.
Token Symbol $QCT: The abbreviation for Quakecore Network Token, used on exchanges and within the network.
Total Supply 1 Billion $QCT: The total number of $QCT tokens that will ever exist. This amount is fixed, and no additional tokens will be minted.
Token Type ERC-20 Token on the peaq Blockchain: $QCT is an ERC-20 token issued on the peaq blockchain.
Governance $QCT holders can vote on governance proposals, influencing key decisions about the network.
Roadmap and Milestones The roadmap includes network expansion, seismic data integration, and ecosystem feature rollouts. Progress is transparently communicated to the community.
Token Distribution
Category
Percentage
Total Tokens
Comments
Airdrop
8.0%
80,000,000
Community engagement & Airdrop Beta Pool
Incentivization Pool
42.0%
420,000,000
Rewards Users/Miners & ecosystem growth
Treasury
10.0%
100,000,000
Governance & ecosystem development
Team & Advisors
20.0%
200,000,000
Core contributors & advisors
Early Backers
20.0%
200,000,000
Seed investors & strategic partnerships
Total
100%
1,000,000,000
-
$QCT Calculation
The Incentivization pool is 42% of the total supply of 1 billion tokens. This is 420,000,000 tokens to be distributed over about 10 years. On this page, the term of "miner" identify a device that is used to mine the Quakecore token.
Distribution principles
The distribution of tokens to miners is based on their contribution to the network. A miner must first and foremost operate regularly throughout the day to fulfill its role in detecting seismic risks. For this purpose, the equipment sends a ping to the quakecore network every 5 minutes, i.e., 288 times per day. For various technical reasons, some messages may be lost, and normal miner operation will be considered above 260 messages per day, granting the miner the full daily rewards.
Furthermore, a miner performs useful work as soon as its location is confirmed. It is only active when a location is declared, but to receive all rewards, its location must be confirmed by two means: WiFi positioning via Google services and LoRaWan positioning via the Helium network.
Based on these criteria, a miner will therefore only receive part of its daily reward:
Yes
No
No
10%
Yes
No
Yes
40%
Yes
Yes
No
60%
Yes
Yes
Yes
100%
The number of rewards received by a miner also depends on the density of miners within the same h3 hexagon at resolution 5, which corresponds to approximately 127km². The distribution will be as follows and applicated to all miners in the same hexagon:
1 -> 8
100%
9 -> 16
50%
17 -> 32
25%
33 -> 128
5%
> 128
0%
Subsequently, a protection mechanism will be added to allow miners to protect their rewards in the event that other miners are deployed in the same hexagon. This protection mechanism, associated with an NFT, will guarantee the maintenance of 100% distribution of the remaining allocation even if the hex drops to 50% or less; the reduction will only apply to unprotected miners. Up to 8 NFT will be available for each hexagon. NFT protection will be lost if the miner is not active for 30 days, or if the miner is moved to another hexagon, or if the miner data quality is not sufficient.
Example
Assuming the daily maximum miner allocation is 100 token for the following examples:
A) A miner is located in a hexagon with 2 others miners (total 3), it's location is confirmed by WiFi and LoRaWan, and it sends 270 pings that day.
B) A miner is located in a hexagon with 6 others miners (total 11), it's location is confirmed by WiFi and LoRaWan, and it sends 200 pings that day.
C) A miner is located in a hexagon with 20 others miners (total 21), it's location is confirmed by WiFi and LoRaWan, and it sends 280 pings that day.
D) A miner is located in a hexagon with 10 others miners (total 11), it's location is confirmed by WiFi only, and it sends 100 pings that day.
E) A miner is located in a hexagon with 10 others miners (total 11), it's location is confirmed by WiFi and LoRaWan, and it sends 270 pings that day, but it has a protection NFT.
A
100
270/260 = 100%
100%
100%
100
100 * 1 * 1 * 1 * 1 = 100
B
100
200/260 = 77%
100%
50%
38
100 * 0,77 * 1 * 0.5 * 1 = 38.46
C
100
280/260 = 100%
100%
25%
25
100 * 1 * 1 * 0.25 * 1 = 25
D
100
100/260 = 38%
40%
50%
7.6
100 * 0.38 * 0.4 * 0.5 * 1 = 7.6
E
100
270/260 = 100%
100%
100%
100
100 * 1 * 1 * 1 * 1 = 100
Daily maximum token allocation
The distribution of rewards is based on a pre-established daily maximum within an annual maximum amount, subject to a halving mechanism every 2 years. The number of tokens distributed per day is 1/365 of the annual distributable amount, which depends on the halving table described below. To prevent a small number of miners from receiving too large a share of tokens at the start of the network, a daily token capping is applied.
All undistributed tokens remain in the pool and will be distributed later; for this reason, the total distribution of tokens over time will depend on the speed of miner deployment, with a minimum guarantee of 10 years of distribution set by a maximum annual distribution and a halving applying a ratio of 1.5 every 2 years.
The Daily maximum token allocation is the following:
1
82,350,000
225,000
0
420,000,000
2
82,350,000
225,000
82,350,000
337,650,000
3
54,900,000
150,000
164,700,000
255,300,000
4
54,900,000
150,000
219,600,000
200,400,000
5
36,600,000
100,000
274,500,000
145,500,000
6
36,600,000
100,000
311,100,000
108,900,000
7
24,400,122
66,667
347,700,000
72,300,000
8
24,400,122
66,667
372,100,122
47,899,878
9
16,266,870
44,445
396,500,244
23,499,756
10
7,232,886
44,445
412,767,114
7,232,886
Total
420,000,000
0
The Year 10 will have only 162 days of distribution based on this model before reaching the token cap.
The daily allocation to miners is a maximum distributable amount that will be reduced by the various reward reduction mechanisms described above. Furthermore, to prevent the distribution from being too unequal during the initial phases of network launch or when hardware delivery times may be long, the maximum reward per device is capped at 100 tokens per day. All undistributed tokens are reinjected as tokens to be distributed later.
Examples
Let's assume globally we have 60% of miner with full location , no hex density impact and having over 250 ping (full rewards / profile 1 (P1)) and 20% of miners with full location but only 200 ping (80% of max rewards, P2) and 20% of miners with only 50% location (40% of max rewards, P3).
A) On year 1, we have average day with 1,000 miners with that profile
B) On year 2, we have average day with 2,500 miners with that profile
C) On year 3, we have average day with 10,000 miners with that profile
D) On year 4, we have average day with 20,000 miners with that profile
E) On year 5, we have average day with 50,000 miners with that profile
F) On year 6, we have a day with 50,000 miners with that profile
G) On year 7, we have a day with 50,000 miners with that profile
H) On year 8, we have a day with 50,000 miners with that profile
I) On year 9, we have a day with 50,000 miners with that profile
J) On year 10, we have a day with 50,000 miners with that profile
A
1
225,000
1,000
210 (100) * 100% = 100
210 (100) * 80% = 80
210 (100) * 40% = 40
84,000
30,744,000
30,744,000
369,256,000
B
2
225,000
2,500
90 (90) * 100% = 90
90 (90) * 80% = 72
90 (90) * 40% = 36
189,000
69,174,000
99,918,000
300,082,000
C
3
150,000
10,000
15 (15) * 100% = 15
15 (15) * 80% = 12
15 (15) * 40% = 6
126,000
46,116,000
146,034,000
253,966,000
D
4
150,000
20,000
7.5 (7.5) * 100% = 7
7.5 (7.5) * 80% = 6
7.5 (7.5) * 40% = 3
126,000
46,116,000
192,150,000
207,850,000
E
5
100,000
50,000
2 (2) * 100% = 2
2 (2) * 80% = 1.6
2 (2) * 40% = 0,8
84,000
30,744,000
222,894,000
177,106,000
F
6
100,000
50,000
2 (2) * 100% = 2
2 (2) * 80% = 1.6
2 (2) * 40% = 0,8
84,000
30,744,000
253,638,000
146,362,000
G
7
66,667
50,000
1.33 (1.33) * 100% = 1.33
1.33 (1.33) * 80% = 1.06
1.33 (1.33) * 40% = 0.53
55,800
20,422,800
274,060,800
125,939,200
H
8
66,667
50,000
1.33 (1.33) * 100% = 1.33
1.33 (1.33) * 80% = 1.06
1.33 (1.33) * 40% = 0.53
55,800
20,422,800
294,483,600
105,516,400
I
9
44,445
50,000
0.88 (0.88) * 100% = 0.88
0.88 (0.88) * 80% = 0.71
0.88 (0.88) * 40% = 0.35
37,000
13,542,000
308,025,600
91,974,400
J
10
44,445
50,000
0.88 (0.88) * 100% = 0.88
0.88 (0.88) * 80% = 0.71
0.88 (0.88) * 40% = 0.35
37,000
13,542,000
321,567,600
78,432,400
Category of miners
There may be several categories of miners depending on their ability to produce quality data on the network: Quake Core, Quake Fiber, Quake Connect. These miners will have a different allocation ratio of the daily share, which has not yet been defined. At launch, only Quake Core miners are active on the network, so their ratio is 100%.
The ratio in between the different categories of miner will be defined later. The token cap per device also get the ratio, with a larger ratio a device get a larger cap.
Bonus Rewards Early Adopters
During the test phase (devnet), rewards will be distributed according to the same rules but will not be convertible into tokens on the mainnet. To compensate for the effort made by miners during this phase, a reward pool corresponding to 9 months of distribution for all miners active in the last 7 days at the time of the switch to mainnet will be established. This share will be taken from the 80,000,000 airdrop tokens. These tokens will then be distributed to the participating miners, according to the overall reward calculation below, allowing distribution over at least 275 days (9 month), up to 24 months, until this pool is exhausted.
( Daily average (capped) allocation + ( pool / miners / 275 ) ) * (activity & location ratios)Example
Assuming we had 1,000 miners active on the last 7 days of the testnet.
The testnet pool is 225,000 / 1000 = 225 is over 100 so it's capped to 100. 100 tokens * 275 days * 1000 miners = 27,500,000 tokens. These token are taken from the air-drop pool and will eventually be capped by the air-drop pool size.
Assuming a standard daily maximum miner allocation is 100 token for the following examples:
A) A miner is located in a hexagon with 2 others miners (total 3), it's location is confirmed by WiFi and LoRaWan, and it sends 270 pings that day.
B) A miner is located in a hexagon with 6 others miners (total 11), it's location is confirmed by WiFi and LoRaWan, and it sends 200 pings that day.
C) A miner is located in a hexagon with 20 others miners (total 21), it's location is confirmed by WiFi and LoRaWan, and it sends 280 pings that day.
D) A miner is located in a hexagon with 10 others miners (total 11), it's location is confirmed by WiFi only, and it sends 100 pings that day.
E) A miner is located in a hexagon with 10 others miners (total 11), it's location is confirmed by WiFi and LoRaWan, and it sends 270 pings that day, but it has a protection NFT.
A
100
100
270/260 = 100%
100%
100%
200
B
100
100
200/260 = 77%
100%
50%
76
C
100
100
280/260 = 100%
100%
25%
50
D
100
100
100/260 = 38%
40%
50%
15,2
E
100
100
270/260 = 100%
100%
100%
200
The duration of the devnet bonus depends on the activity of participants in mainnet.
QuakeCore Licenses
Quakecore devices are associated with a license that will be issued in the form of an NFT. This feature is not yet operational and will be implemented at a later stage. The license is acquired through a one-time burn of Quakecore tokens.
To ensure that the license is not subject to the volatility of the token’s valuation, a utility token called $QDC (QuakeCore Dol Coin) will be used for the license purchase. This token can only be created by burning $QCT and is non-transferable, with a fixed value of 1 $QDC = $1. The license price will be determined at a later date.
If a third-party company wants to build and sell a Quake miner, in addition to have the technical requirements and device validity, it will need to acquire a Manufacturing License. To acquire a Manufacturing License, the company will need to do a bond of $QCT tokens. More information will be revealed in the future.
QuakeCore Token Burn Mechanism
$QCT operates on a permanent burn mechanism when Quakecore makes a Sale of Data through the Network built around the world. With buyback funds sourced from data consumers purchasing Quakecore's data products:
60% is used to buy back circulating
$QCTand permanently burn it.40% supports Quakecore's operational expenses or other initiatives to support the growth of the Network.
More info and details will be revealed in the future
QuakeCore Nodes Rewards
QuakeCore nodes will get a share of the associated device allocation to get rewarded, based on the device country corresponding to the node location. This will be later documented.
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