Gilbert Verdian founded the company behind Quant Network in 2015. Verdian conceptualized Quant while working in the healthcare sector. During this time, he saw patients struggle with multiple healthcare providers, each using different databases and networks.
Verdian wanted to find a way for patients to receive comprehensive care and reimbursement while maintaining privacy. In that, the idea of the Internet of Trust was born.
In 2018, Verdian announced the Quant Network, a blockchain interoperability network and operating system. The same year, Quant conducted an Initial Coin Offering (ICO) that raised $11 million. The ICO sold 10 million Quant tokens (QNT), or 70% of the supply. The ICO provided only limited funding for the project, giving the network a chance to proceed.
In addition to ICO funding, the project received significant funds from Alpha Sigma Capital in July 2020. This round of funding was critical for the project, helping achieve the originally outlined goals.
In July 2020, Quant Overledger version 1.0 went live. The ledger provided interconnection for private networks and public blockchains. The interconnection would facilitate the creation of multichain applications. The first version supported 11 permissionless and permissioned decentralized ledgers, including Corda and JPM Quorum.
After establishing a foothold in the blockchain space, Quant continued its upgrades and in 2021, released Overledger 2.0. The second version provided interoperability with established chains. This list included Ethereum, XRP, and Bitcoin Mainnet.
The project released Overledger 2.2, introducing expanded features, including QRC-20 and QRC-721 tokenization. The upgrade added support for other networks such as Avalanche and Polygon too.
In 2025- 2026, Quant made another upgrade and released Overledger Fusion, rolling out in a phased delivery as a Layer 2.5 network. The upgrade focuses on advanced multi-ledger interoperability, BYON capabilities, and the ability to power institutional projects.
Finally, in June 2026, Quant launched the Fusion Rollup Mainnet. The team crowned the launch as a major progress in blockchain interoperability. The new system was designed to connect 74 blockchain networks with a single execution environment. The upgrade addresses the major problem faced by financial institutions operating across multiple ledger ecosystems.
Coupled with that, Quant introduced the concept of “One API for Everything.” This was a standardized API interface for developers and implemented authentication standards, thus boosting scalability and security.
In addition to ecosystem developments, Quant Network also supports its native token – QNT. In fact, participation in the ecosystem is supported by QNT tokens, which are used to pay for platform usage and licensing costs.
Additionally, enterprises that need to run MApps must hold a certain number of QNT tokens. As long as QNT tokens are staked, developers can create and maintain their MApps.
Regarding QNT tokenomics, the team has attempted to reduce supply to improve competitiveness in the market.
Due to a failed initial Coin Offering though, the team behind Quant burned 9.5 million QNT tokens. With the token burn, the current QNT supply is fixed at 14.6 million tokens. Founders and Quant Company owns approximately 3.9 million QNT. The reduced and fixed supply of the token helps manage market pressure and positions the asset for future stability and better prospects, even below Bitcoin’s 21 million supply cap.