Quantstamp Defends QSP, Says Dollars, Ether Accepted Out of ‘Necessity’

A week after Quantstamp community members began accusing the smart contracts auditing startup of undermining the value of its $65 million token, the company responded with a statement on Thursday.

As previously reported by CoinDesk, for at least the past week, Quantstamp token holders have been alleging that the company misled them by accepting U.S. dollars and ether, rather than its token, QSP, as payment for its auditing services.

According to the company’s published materials, customers are meant to trade QSP to pay for, receive and improve verification services within the Quantstamp network.

The company told CoinDesk that the community’s concerns stem from a lack of clarity regarding the difference between two of its projects and admitted that the community’s frustration has indicated that Quantstamp “need[s] to do more” to clarify the distinction.

The products in question are, on the one hand, an auditing protocol outlined in its white paper and under development. The other one is a “web product” which it currently uses for audits.

“The Quantstamp web product is separate from our protocol that adheres to the vision outlined in our white paper and is still under development,” the company said.

The startup added that its move to accept ETH and USD for its services doesn’t diverge from its white paper, and said the alternative payments were also necessary due to restrictions on its token sale. Namely, because U.S. and Chinese buyers were excluded from participating.

“While Quantstamp has accepted QSP, USD, and Ether, the latter two are only accepted for our current offerings and out of client and customer necessity, as not everyone is currently capable of acquiring and using our token,” Quantstamp said.

The company declined to comment on CoinDesk’s inquiries pertaining to the percentage of audit reports they completed in exchange for USD or ETH…

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