CIP-0106: Add QCP Group as a Super Validator (weight 5.0)
Abstract
QCP Group proposes to join the Canton Network as a Super Validator (SV) with a maximum potential weight of 5.0, tied to quantifiable institutional adoption, application delivery, and network economic activity milestones.
About QCP Group
QCP Group is a leading institutional crypto trading and market infrastructure firm. QCP’s participation strengthens Canton’s institutional on-chain settlement capabilities and utility proposition.
Deliverables for SV Reward (Weight 5.0)
| Deliverable | Acceptance Criteria | Deadline | Weight Earned |
|---|---|---|---|
| Institutional Collateral Application Development | Complete development and validation of an end-to-end institutional collateral lifecycle workflow, including: (1) collateral agreement generation, (2) margin allocation, (3) margin confirmation, and (4) settlement. Workflow must reflect real bilateral trading relationships. Evidence includes collateral agreement records and settlement history from test trades executed on a Canton utility application. | 3 months | +0.5 |
| RWA Tokenization Enablement | Onboard 10 Tokenized Money Market Funds (TMMFs) onto a tokenization platform capable of issuing, bridging, and managing RWAs on-chain, with assets accurately recognized and verifiable on Canton. Evidence includes on-chain token confirmations and asset records. | 3 months | +0.5 |
| Canton Coin Burn via Activity | Earn +0.5 weight for every USD $2M equivalent of Canton Coin burned, attributable to application-driven network activity. Eligible activity includes asset swaps, minting and redemption flows, derivative vault strategies, and settlement activity occurring within or across Canton applications, including burn resulting from counterparty participation. Burn must be traceable on-chain to eligible application activity. | 18 months | +4.0 max |
Eligible Burn & Sustainment Criteria
1. Eligible Burn Criteria (Attribution & Verification):
To ensure accountability and prevent double-counting, the following rules apply:
- Owned Address Registry: QCP must provide a registry of owned/controlled on-chain addresses to the Accountability Committee. Burn originating from these addresses is 100% attributable to QCP.
- Pro-Rata 3rd Party Attribution: Burn conducted via 3rd party addresses or applications is eligible only if it can be definitively linked to QCP’s material enablement and activity. In cases where multiple parties participate in an in-scope transaction, the burn shall be attributed pro-rata among the relevant parties, based on how much brun occurred in the transaction envelopes confirmed by each party. Within a given envelope, burn is attributed equally to all parties.
- Economic Causality: Burn must be a necessary consequence of application usage (fees, protocol-mandated), not discretionary.
2. Sustainment Requirement (Perpetual High Water Mark):
Weight earned via activity-based burn is subject to a perpetual sustainment requirement to align with the ongoing nature of SV rewards.
- Reference Rate Calculation: For each tranche, the "Reference Rate" is defined as the 2-quarter activity rate required for milestone approval:
- Denominator Unit: For the avoidance of doubt, the units for the denominator in the reference rate calculation is days.
- Drop in Activity: A >50% decline in the rolling 2-quarter average eligible burn relative to the Reference Rate.
- Remediation: If the decline persists for 2 consecutive quarters, the Accountability Committee shall apply a proportional weight reduction.
- Duration: This requirement lives in perpetuity for the duration of the SV grant.
Anti-Gaming & Double-Counting Protections
- Zero Double-Counting: No single unit of burned Canton Coin may be counted toward more than one SV’s milestone at 100% value if multiple parties are involved; pro-rata allocation is mandatory.
- Anti-Wash Trading: Self-cycling or circular transactions intended to artificially generate burn are explicitly excluded.
Measurement & Reporting
QCP must submit a quarterly Activity & Attribution Report to the Accountability Committee, detailing:
- Transaction hashes and associated burn.
- Attribution breakdown (Owned vs. 3rd Party Pro-rata).
- Current rolling 2-quarter average vs. established Reference Rates.
SV Reward Mechanics
An extraBeneficiary PartyID tied to an escrowed Super Validator will be configured by the Canton Foundation or an approved SV operator with the full maximum weight.
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QCP will coordinate escrow configuration with the GSF and the SV node operator.
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QCP is responsible for all costs for operating the escrow SV.
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The escrow SV does not mint rewards per block; all rewards accrue to the Unclaimed Rewards Pool.
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Upon milestone completion, QCP will present proof of completion and a Canton Coin calculation for earned rewards to the Tokenomics Working Group.
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If approved, the GSF updates the extraBeneficiary to QCP’s PartyID.
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⅔ of active Super Validator Operators will assign the approved reward portion to QCP’s Validator.
Failure to deliver milestones:
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QCP will be notified of missed deliverables.
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Remaining unearned weight is removed from the escrow SV.
Motivation
The Canton Network is uniquely positioned for enterprise adoption of privacy-preserving, interoperable digital asset infrastructure. QCP’s mandate as an SV is to shift the network from pilot into institutional flow by delivering production-grade settlement workflows, RWA onboarding at scale, and sustained transaction volume. By tying SV weight to sustained economic gravity rather than one-time spikes, this proposal ensures long-term institutional contribution to the network.
Copyright
This CIP is licensed under CC0-1.0: Creative Commons CC0 1.0 Universal.
Changelog:
- 2026-02-01: Created
- 2026-03-03: Updated
- 2026-03-05: Approved
