Quantum DAO is an initiative focused on safeguarding the blockchain industry from the emerging threat of quantum computing.
Its mission is to fund and support technologies that are resistant to quantum computing attacks and to educate the community about the potential risks that these advancements pose.
The Importance
Our urgency stems from the fact that current cryptographic methods, essential for securing blockchain transactions, wallets, and consensus mechanisms, are susceptible to being compromised by quantum computers, leading to possibly catastrophic failures across blockchain networks.
Without swift upgrades to quantum-resistant infrastructure, the entire industry stands at risk. Our aim is to anticipate and prevent this by focusing on proactive mitigation.
Key Risks Are
Private Key Compromise
Loss of funds by deriving private keys from publicly accessible information.
Elliptic Curve Breach
Forged transactions and signatures by compromising elliptic curve cryptography.
51% Attack Threat
Bad actors can gain control over blockchain networks through potential 51% attacks.
Hash Function Collision
Undermine security protocols by finding collisions in cryptographic hash functions.
Encryption Vulnerability
Expose previously encrypted transactions, jeopardizing privacy and confidentiality.
Breaking RSA Encryption
Decrypt sensitive data by breaking RSA encryption by using quantum algorithms.
How The DAO Works
Quantum DAO takes a proactive stance by providing funding and support to open-source and public-good projects that focus on developing quantum-resistant technologies and enhancing the security of blockchain infrastructure.
A transaction fee structure supports the DAO’s funding mechanism, providing a continuous flow of resources to fund innovative projects and maintain its operations.
Each buy and sell transaction incurs a 5% fee, while transfers between wallets are fee-free. The weighting of this fee is as follows.
1%
Transferred to the treasury in $QTDAO.
1.5%
Swapped to WETH and sent to the treasury.
2.5%
Swapped and sent as WETH to the DAO’s deployer wallet.
Decentralized By Nature
Quantum DAO operates under a decentralized governance framework that allows contributors and select individuals, a.k.a. the Smartest Minds, to endorse publically submitted grant proposals and put them forward for DAO voting.
To ensure that only serious and well-prepared proposals are considered, applicants must burn at least $1,000 worth of $QTDAO tokens. This requirement maintains high proposal standards and promotes rigorous vetting.
Proposals can be refined and resubmitted up to three times before necessitating a restart of the application process and an additional token burn, ensuring a thorough and selective review process.
