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IQ Protocol by PARSIQ to Empower DeFi Initiatives, Builders, And Customers

admin by admin
July 15, 2021
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Launched on the mainnet final month, PARSIQ’s new lending and borrowing IQ Protocol is the primary risk-free and collateral-less resolution within the DeFi trade.

Revolutionary Protocol to Make Decentralized Subscriptions A Actuality

The PARSIQ ecosystem has grown considerably since its inception in 2018. The blockchain monitoring and intelligence platform join on-chain and off-chain purposes in real-time, frequently notifying end-users of transactions, making it one of many preferable ecosystems to watch and safe DeFi purposes, customise occasion triggers, and create automation.

Suitable with Solana, Polkadot, Ethereum, Binance Good Chain, Aave, Algorand, and several other different blockchains, PARSIQ has lastly launched its IQ Protocol on the mainnet following a profitable testnet launch on Ethereum. The IQ Protocol is a lending and borrowing protocol that provides the primary risk-free and collateral-less resolution to the decentralized finance (DeFi) ecosystem. As a person product, IQ Protocol works along with PARSIQ’s different subscription providers.

To proceed innovating and including extra capabilities, months earlier than the testnet launch, PARSIQ welcomed Evan Cheng as an investor and advisor. Evan’s experience and expertise main initiatives like Chainlink, Zilliqa, and Fb have helped PARSIQ to enhance its suite of merchandise and options. Led by the Solana Basis and Axia8 Ventures, PARSIQ’s promising IQ protocol raised $3 million days earlier than its mainnet launch from distinguished buyers, together with CoinUnited, Elevate Ventures, Krypital Group, Mindworks VC, Sanctum Ventures, Transfero Swiss, and others.

Bestowing Advantages on Service Suppliers & Shoppers Alike

As an open-source and decentralized protocol, the IQ Protocol provides ample room for personalization by way of tokenization fashions for distinctive providers and options. It allows builders to tokenize current belongings, which helps obtain decentralized subscriptions, a brand new enterprise mannequin inside the crypto ecosystem.

For example, PARSIQ’s IQ Protocol has the potential to enhance the prevailing subscription mannequin of DEXTools. The interactive buying and selling software, DEXTools, allows customers to carry out many capabilities for buying and selling by means of its free, commonplace, and premium plans. Whereas DEXT tokens serve the aim inside the platform, customers don’t get any incentives for holding the extra tokens.

To place this into perspective, assume a consumer has 25,000 DEXT and subscribes to the usual plan for 10,000 DEXT. The remaining 15,000 DEXT stays within the pockets with out yielding any substantial return. IQ Protocol solves this dilemma, permitting customers to take pleasure in their subscription to the usual plan and provide passive earnings for the additional tokens. Customers can lend the extra tokens by way of IQ protocol and generate returns as a liquidity supplier.

Moreover, IQ Protocol additionally permits service suppliers to simply accept subscription charges in several crypto and fiat currencies. It additionally allows builders to implement custom-made subscription-based providers effortlessly and on the lowest potential prices, thereby making a round economic system that powers the service suppliers’ tokens whereas providing greater incentives to the customers – a win-win scenario for each.

Per Tom Tirman, CEO of PARSIQ, “The IQ Protocol mannequin will be utilized to web service suppliers, file streaming firms, analytics platforms, and even day by day supply of contemporary meals. Any enterprise the place consumption is measured over time and quantity can subject lifetime worth tokens that give customers rights to the providers or merchandise whereas permitting liquidity suppliers (“lenders”) to earn a share of the renting charges.”

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