What is Quantstamp (QSP)?

Quick Facts

  • Token symbol: QSP
  • Blockchain: Ethereum (ERC-20)
  • Founded: 2017
  • Founders: Richard Ma (CEO) and Steven Stewart (CTO)
  • Core function: Decentralized smart contract security auditing
  • Token utility: Pay for audits, earn as validator, vote on governance
  • Notable clients: Binance, MakerDAO, Chainlink, eToro

Introduction

Quantstamp is a blockchain security protocol designed to make smart contracts safer for everyone. It provides automated and decentralized security audits, helping developers identify vulnerabilities before they can be exploited.

The native token, QSP, powers the entire ecosystem — from paying for audit services to rewarding participants who secure the network.

History & Background

Quantstamp was founded in 2017 by Richard Ma and Steven Stewart with a clear goal: solve one of the most pressing problems in the blockchain world — insecure smart contracts. The project launched its ICO in November 2017 and quickly gained traction as a first-mover in the smart contract auditing space.

Over the years, Quantstamp expanded from focusing solely on Ethereum to becoming blockchain-agnostic, capable of auditing smart contracts across multiple platforms. It has since worked with major crypto projects and enterprises globally.

How Quantstamp Works

The Quantstamp protocol combines automated software verification with a crowdsourced bug bounty system. When a developer submits a smart contract for auditing, they also deposit QSP tokens as a bounty fee, which is held in escrow.

The network uses specialized validation nodes that run security analysis tools — including static analysis, concolic testing, and symbolic execution — to detect vulnerabilities. If a bug is found, the bounty is paid to the finder; if no bugs surface before the deadline, the fee is returned.

Security reports are stored directly on the Ethereum blockchain, allowing anyone to independently verify that a contract has met certain security standards.

Tokenomics

The QSP token is the economic backbone of the Quantstamp protocol. It serves three primary roles:

  • Payment: Developers (contract creators) pay QSP to access audit services.
  • Reward: Validators earn QSP for running nodes; contributors earn QSP for submitting security software; bug finders earn QSP bounties.
  • Governance: QSP holders can propose and vote on protocol upgrades via a time-locked multisig governance model, with more votes accelerating how quickly a change takes effect.
Circulating supply ? 976.44 million QSP
Total supply ? 976.44 million QSP
Max supply ? -- QSP
Updated 2w ago

Ecosystem & Use Cases

Quantstamp's core use case is smart contract auditing, but its reach extends further. The protocol also covers off-chain components, networking layers, and front-end audits for decentralized applications.

It additionally offers DeFi Protection — a product that provides real-time monitoring, threat alerts, and compensation if a security gap leads to user losses. This positions Quantstamp as an end-to-end security partner for Web3 projects.

Team, Governance & Community

The project was co-founded by Richard Ma, who serves as CEO, and Steven Stewart, the CTO, both bringing deep expertise in computer security and software engineering.

Protocol governance is community-driven: any QSP token holder can propose changes, and the time-locked multisig system ensures changes are implemented proportionally to community support.

Advantages

  • First-mover advantage in decentralized smart contract auditing
  • Automated and scalable auditing reduces cost and time vs. manual reviews
  • Blockchain-agnostic design supports multiple platforms beyond Ethereum
  • On-chain reports provide transparent, verifiable audit results
  • Community governance lets token holders shape the protocol's future

Risks & Challenges

  • Market competition from other security audit firms and protocols has intensified
  • Token utility dependency — QSP's value is tightly linked to protocol adoption
  • Evolving threat landscape means the security library must constantly be updated
  • Automated audits cannot catch all vulnerabilities; human review remains essential

Long-Term Vision

Quantstamp's long-term goal is to become the standard security layer for the decentralized internet. As smart contract adoption grows across DeFi, NFTs, and Web3 applications, the demand for reliable auditing is expected to scale accordingly.

The team envisions a future where every smart contract undergoes a Quantstamp audit before deployment — making security a default, not an afterthought, across the entire blockchain ecosystem.

Frequently Asked Questions

Quantstamp is a decentralized blockchain security protocol that provides automated smart contract auditing. Its native token, QSP, is used to pay for audits, reward validators, and participate in governance.

Developers submit their smart contract along with a QSP token bounty. Validation nodes analyze the code for vulnerabilities using tools like static analysis and symbolic execution, and a security report is stored on-chain.

QSP is used to pay for smart contract audit services, reward node validators and bug finders, and vote on protocol upgrades and governance proposals.

Quantstamp was founded in 2017 by Richard Ma (CEO) and Steven Stewart (CTO), with the goal of creating a scalable security auditing solution for smart contracts.

No. While Quantstamp started on Ethereum, the protocol is designed to be blockchain-agnostic and can audit smart contracts on multiple blockchain platforms.

DeFi Protection is a Quantstamp product offering real-time smart contract monitoring and threat alerts. Customers may receive compensation if a security gap covered by the service results in losses.

Any QSP token holder can propose changes to the protocol through a time-locked multisig governance system. Proposals with more votes are implemented more quickly.

Quantstamp distributes auditing responsibility across a decentralized network of validators rather than relying on a single central entity. This makes it more scalable and transparent than traditional manual audit firms.