PRESS RELEASE. PARSIQ launches its extremely anticipated IQ Protocol – the primary risk-free collateral-less decentralized finance protocol constructed particularly for the Software program-as-a-Service (SaaS) market.
thirty first March 2021, Tallinn, Estonia – PARSIQ has launched their revolutionary IQ Protocol on testnet (Ethereum) – a decentralized finance (DeFi) answer for the SaaS market. IQ Protocol is the world’s first risk-free, collateral-less DeFi protocol to tokenize SaaS subscriptions within the DeFi house with a round economic system. IQ Protocol options a number of commonplace DeFi providers, together with staking, lending, and borrowing.
The launch marks PARSIQ’s official entry into the DeFi house. If the testnet launch is profitable, IQ Protocol’s mainnet is scheduled to launch in Q2 this 12 months, and the group already has curiosity from a number of DeFi tasks. Moreover, the PARSIQ group is contemplating launching the mainnet on a number of different chains, together with Binance Good Chain (BSC), and Solana (SOL), with which PARSIQ has already integrated.
IQ Protocol & Energy Tokens
The IQ Protocol brings a brand new perspective to DeFi options for the mainstream surroundings. Not solely is the upkeep of the protocol’s community fully-trustless, however the protocol itself is open-source. Moreover, PARSIQ’s modern choice to take away the requirement of collateral to take part in or construct on IQ is one other first for the DeFi house, nullifying the dangers related to DeFi participation.
IQ Protocol additionally takes an modern method to token utility via the introduction of Energy Tokens. In contrast to standard utility tokens which signify a hard and fast quantity of utility, Energy Tokens generate utility over time. Subsequently, holders of Energy Tokens “subscribe” to utility reasonably than possessing a hard and fast amount.
For instance, the standard “tomato token” would signify rights to gather 1 kg of tomatoes, whereas a Energy “tomato token” (with weekly circulate and expiry in 1 12 months) would signify a proper to gather 1 kg of tomatoes per week for a 12 months.
Energy Tokens are housed in a “Energy Enterprise” – a sequence of good contracts which combination a number of IQ Protocol options, together with governance, funding, and the power to mint new Energy Tokens.
The shift to a subscription-first mannequin offers large efficiency advantages for blockchain-based networks together with off-loading a big load of transactions away from the main-chain. And in one of the best case, most main-chain transactions aren’t wanted anymore.
A brand new, upgraded tokenomics mannequin additionally accompanies IQ’s launch, requiring customers to carry PRQ, PARSIQ’s native token. IQ permits customers to borrow or “lease” PRQ through IQ Protocol by paying a charge. In impact, they pay a subscription charge, with the proceeds rewarding lenders in a risk-free trend. Accordingly, IQ’s mannequin rewards holding in a easy however efficient manner which additionally ensures the long-term safety of its community.
Robust Partnerships & Developments
IQ’s launch comes after a profitable begin to the 12 months for the PARSIQ group. The present community just lately integrated with the Solana ecosystem, permitting SOL customers to mix information streams and write customized eventualities utilizing PARSIQ’s user-friendly scripting language.
PARSIQ additionally built-in its Good Triggers characteristic with information market platform Ocean Protocol. The integration offers Ocean customers the power to automate reactions to particular information inputs utilizing PARSIQ’s distinctive monitoring answer.
This was additionally prolonged to Binance Good Chain (BSC), with BSC customers in a position to profit from the identical Good Triggers characteristic. As a part of the BSC integration, PARSIQ additionally turned a part of Binance’s $100 million accelerator fund as a part of the top-exchange’s efforts to encourage modern new tasks to construct on BSC.
Furthermore, PARSIQ has built-in with a number of different tasks within the DeFi house, together with Balancer, PAID Community, Injective Protocol, and plenty of extra. For extra on these integrations, try PARSIQ’s blog.
PARSIQ is a next-generation blockchain analytics platform constructed to attach blockchain exercise to off-chain functions and gadgets. It offers quite a few modern options for actionable information together with customizable event-based triggers, information monitoring options, and real-time automation focused on the SaaS house.
For extra about IQ Protocol, PARSIQ, and its future plans, go to PARSIQ’s website.
Join with PARSIQ on LinkedIn: https://www.linkedin.com/company/parsiq/
Comply with PARSIQ on Twitter: https://twitter.com/parsiq_net
Be a part of the PARSIQ group on Telegram: https://t.me/parsiq_group
Learn PARSIQ’s weblog on Medium: https://medium.com/parsiq
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