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PARSIQ Is Ready to Launch Their IQ Protocol to Mainnet, Enabling Decentralized Subscriptions and DeFi Services

3y ago
bullish:

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Key highlights:

  • PARSIQ's IQ Protocol is launching on mainnet today
  • IQ Protocol enables decentralized subscriptions, Power Tokens, as well as DeFi services like staking and lending
  • PARSIQ have created a platform for monitoring on-chain activity and leveraging this information in off-chain apps

PARSIQ is launching its IQ Protocol on mainnet

The IQ Protocol by PARSIQ is making its mainnet debut today (June 30). The IQ Protocol introduces the concept of decentralized subscriptions, which represents a significant advancement for the blockchain space. It also enables established DeFi services like token staking and lending. In addition, the protocol enables Power Tokens, which are tokens that provide utility to their holders over time. 

The IQ Protocol saw its testnet launch in late March, and is now coming to the mainnet after a successful testing period. 

According to PARSIQ, eight other projects are currently lined up to leverage the IQ Protocol for their tokenomics. One of these projects is Mysterium Network, who are building a decentralized peer-to-peer VPN. 

Users who want to access services connected to the IQ Protocol can do so by borrowing PARSIQ’s native token PRQ through the protocol. The project says they have designed the IQ Protocol with the goal of creating a model that also incorporates the PARSIQ platform and the PRQ token.

PARSIQ’s platform allows users to monitor on-chain activity on multiple blockchains (Ethereum, Binance Smart Chain and More) and create “smart triggers” that automatically react to on-chain events that fall into specified parameters. The information can then be fed to off-chain applications, opening up use cases like alert systems and automated cryptocurrency trading. 

Andre Kalinovski, the co-founder of PARSIQ, commented on the launch of the IQ Protocol and the PARSIQ project's ambitions in the blockchain space:

“We believe that, for blockchain to achieve mainstream adoption, transparency is crucial. Being able to monitor and analyse the blockchain, and verify transactions in real-time, will help to build trust for users and improve the understanding of how blockchain works. PARSIQ will not only enable this type of monitoring, but continue to innovate and provide improved capabilities in future so that the blockchain is accessible for all.”

The PARSIQ team recently held an AMA session in which they answered some of the most common questions regarding the IQ Protocol and the PARSIQ project more broadly. You can check the AMA out here

3y ago
bullish:

1

bearish:

0

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