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PARSIQ Brings Its Risk-Free DeFi-Oriented IQ Protocol To The Mainnet

Chainwire · Jun. 30, 2021 at 4:30 pm UTC · 2 min read
PARSIQ Brings Its Risk-Free DeFi-Oriented IQ Protocol To The Mainnet

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Tallinn, Estonia, 30th June, 2021 โ€” PARSIQ is proud to announce its upcoming protocol launch draws near. Come June 30, 2021, the protocol will launch, and the PARSIQ 2.0 tokenomics will go into effect. Users can test these changes and provide liquidity, whereas PARSIQ clients will begin borrowing to access the platform roughly one week after the protocol’s launch.

Many things are coming together for the PARSIQ ecosystem. Its ongoing development and evolution since its inception in 2018 culminated in the release of the IQ Protocol. Bringing a risk-free solution to the decentralized finance industry is a massive undertaking. Yet, the time has come to transition crypto from a speculative segment to delivering globally usable financial products and services that require no intermediaries.

The IQ Protocol has received a testnet launch on Ethereum to experiment with the features and provide valuable feedback. As the testnet phase concludes, PARSIQ can bring the IQ Protocol to the mainnet come June 30, 2021. As a stand-alone product, the protocol creates an economic model that ties together the IQ Protocol, PARSIQ, and the native PRQ token. Moreover, another eight projects will leverage the IQ Protocol for their tokenomics changes and models, confirming a growing need for this software-as-a-service solution.

What makes IQ Protocol unique is how it is the first solution in the DeFi industry to provide risk-free collateral-less lending and borrowing. The IQ Protocol is open source and decentralized, allowing for ample customization regarding the tokenization models for services and features. By tokenizing existing assets and turning them into Power Tokens. The protocol achieves decentralized subscriptions, something that was previously considered impossible in the blockchain world. Instead, it is akin to a “renting” protocol for users to establish decentralized circular economies involving on-chain subscriptions.

PARSIQ co-founder Andre Kalinovski comments:

“We believe that, for blockchain to achieve mainstream adoption, transparency is crucial. Being able to monitor and analyze 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.”

It has also been confirmed that Mysterium Network is the first to announce the use of the upcoming IQ Protocol for a tokenomics upgrade of their own. That is a significant feat, as it confirms PARISQโ€™s vision for its tokenomics can unlock broader collaboration within the blockchain industry.

Additionally, lenders who supply their tokens to the protocol can earn passive income. Users will be looking to borrow or ‘rent’ expirable versions of these tokens to access an ecosystem’s products or services. Opting for this method removes the need to buy tokens on the secondary market and selling them back later. On-demand access to specific solutions is the way forward and will spur mass adoption of this industry.

About PARSIQ

PARSIQ is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications. PARSIQ technology is a proprietary PARSIQL programming language that allows users to monitor and interpret an endless stream of data on the blockchain. Thus, PARSIQ can monitor tradersโ€™ and ordinary usersโ€™ wallets.

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