Wednesday, July 28, 2021
HomeIQ Protocol by PARSIQ to Power Future Tokenized Subscription Economy

IQ Protocol by PARSIQ to Power Future Tokenized Subscription Economy

IQ Protocol will allow service suppliers to automate and customise subscription fashions, together with funds, notifications, and extra, utilizing sensible contracts.

PARSIQ’s mainnet launch of its IQ Protocol presents a novel answer for the subscription-based market because the world’s first risk-free and collateral-free protocol, delivering advantages for SaaS suppliers and prospects alike.

Powering Blockchain-Based mostly Purposes with Modern Tokenomics

PARSIQ, the blockchain monitoring and workflow automation platform, serves as a bridge between on-chain and off-chain information. The platform gives a collection of blockchain monitoring and analytics instruments, permitting customers to entry a number of distinctive options.

Led by skilled and extremely certified trade professionals, PARSIQ is on a mission to push ahead the adoption and use of blockchain know-how by permitting everybody to combine its merchandise into current companies. To additional their mission, the PARSIQ group has launched its revolutionary IQ Protocol on mainnet.

The launch of IQ Protocol follows a profitable begin of the 12 months for the PARSIQ group. Constructed by PARSIQ and examined and audited by Hacken, the IQ protocol is the primary risk-free, collateral-less DeFi protocol providing lending, borrowing, and staking providers. It additionally takes a novel method to token utility by introducing the idea of Energy Tokens. It’s already appropriate and built-in with a number of blockchains, together with Aave, Algorand, Ethereum, Polkadot, and extra.

Per Tom Tirman, CEO of PARSIQ, “IQ Protocol empowers product-as-a-service enterprise mannequin through the idea of expirable PowerTokens, which are utilized not as a method of fee, however reasonably as a deterministic over-time ‘power’ generator. Right here, power performs a task in accounting for the unit of service consumption (like gasoline models in Ethereum). PowerTokens act as a generalization of subscriptions. If tokens are decentralized belongings or decentralized cash, PowerTokens are decentralized subscriptions that may be subscribed to as simply as buying a token from a contract.”

IQ Protocol allows dApps to make the most of an upgraded token economic system by permitting service suppliers and shoppers to yield advantages with utility tokens. The promising new initiative has attracted capital funds from a number of the largest traders within the crypto ecosystem.

Simply days earlier than the mainnet launch, Axia8 Ventures and Solana Basis led a private funding round for PARSIQ, elevating $3 million from a consortium of traders, together with CoinUnited, Elevate Ventures, Krypital Group, Mindworks VC, Sanctum, Transfero Swiss, and others. Following the spherical, Evan Cheng, the director of analysis at Fb’s Novi Monetary, and Wayne Lin, CEO of Axia8, joined PARSIQ as advisors.

Incorporating Higher Tokenomics in File Storage App Economies

File storage options that use utility tokens to energy their ecosystem understand {that a} sturdy token economic system is significant for his or her success. Nonetheless, most blockchain-based file storage apps inherently face weak token economics, which discourages customers from using the providers.

With IQ Protocol, file storage dApps can strengthen their token economic system by enabling customers to generate returns from their holdings utilizing risk-free lending and borrowing options. PARSIQ gives a collection of instruments for the SaaS economic system, offering actionable information, customizable event-based triggers, information monitoring options, and real-time automation. Utilizing the underlying know-how, file storage service suppliers can construct efficient and low-cost monetization fashions.

By strengthening the token economic system utilizing IQ Protocol, any blockchain-based file storage enterprise can construct a round economic system so as to add extra worth to its token. This may allow service suppliers to supply extra incentives to shoppers who can earn passive returns by lending tokens utilizing PARSIQ’s risk-free and collateral-free lending and borrowing protocol.

As well as, IQ Protocol will even allow service suppliers to automate and customise subscription fashions, together with funds, notifications, and extra, utilizing sensible contracts. Then again, customers can profit from the pliability of paying for his or her subscriptions utilizing a number of currencies and earn rewards with their tokens.

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Julia Sakovich

Having obtained a diploma in Intercultural Communication, Julia continued her research taking a Grasp’s diploma in Economics and Administration. Turning into captured by progressive applied sciences, Julia turned captivated with exploring rising techs believing of their means to rework all spheres of our life.

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