Advertisement

During the last 12 months, the cryptocurrency area has advanced from an business of speculative property, to offering globally-usable monetary services in a decentralized method. Actually, decentralized Finance (DeFi) has proven how blockchain expertise can take over from, legacy methods to underpin the mainstream monetary world.

Subsequent in line: the Software program as a Service (SaaS) market. That is the driving pressure behind PARSIQ’s all-new risk-free and collateral-free DeFi protocol.

PARSIQ Launches IQ Protocol Testnet on Ethereum 

IQ Protocol is PARSIQ’s first clear try at getting into the DeFi area. It’s the world’s first risk-free, collateral-less DeFi protocol to tokenize SaaS subscriptions within the DeFi sector. If the testnet, debuting on Ethereum, is profitable, the general public mainnet will launch in Q2 this 12 months. 

The First-Ever Threat-Free Collateral-Much less DeFi Challenge

The open-source IQ Protocol is totally trustless and seeks to construct a various round crypto-economy round SaaS subscriptions, bringing an modern new method to mainstream builders whereas additionally making very important DeFi providers corresponding to staking, borrowing, and lending simply accessible.

In a DeFi business first, IQ Protocol does away with the collateral requirement to take part within the community or construct on the protocol, eliminating the dangers typically related to DeFi tasks.

The chance-free open supply growth setting supplied by PARSIQ will ramp up innovation within the sector and can enable the way forward for monetary functions to blossom and attain mainstream penetration.

As well as, it combines blockchain expertise and DeFi right into a SaaS software that permits crypto-based ecosystems to thrive.

A number of partnerships have already been established, with information market platform Ocean Protocol counting on PARSIQ’s distinctive Good Triggers answer and Solana leveraging the user-friendly scripting language to write down customized situations, mix information streams, and rather more.

Reimagined Tokenomics Revolutionize SaaS Subscriptions Endlessly

Additionally launching alongside the IQ Protocol will probably be a newly upgraded tokenomics mannequin that requires customers to carry PRQ. IQ Protocol will make the most of its distinctive On-Chain Subscription mannequin to formulate characteristic entry eligibility.

The method will multiply the quantity of PRQ tokens held and the period they’re held for. Contributors with the best figures will achieve essentially the most extended interval of entry to IQ in return.

IQ Protocol additionally gives a revolutionary new system that lets its customers and builders borrow or “hire” PRQ by paying a price as an alternative of requiring any collateral. This risk-free mannequin as an alternative depends on tokenized SaaS subscription charges to drive the ecosystem and subject rewards.

Certainly, IQ takes this disruptive launch additional with the introduction of “Energy Tokens”. Energy Tokens are utility tokens for IQ Protocol, however with a twist: they generate utility over time. Not like their typical counterparts which signify a set quantity of utility, IQ’s Energy Tokens enable holders to subscribe to IQ Protocol’s providers. This additional underpins the subscription-focussed method PARSIQ is aiming to introduce to the DeFi area.

Furthermore, Energy Tokens are “housed” in a group of sensible contracts referred to as a “Energy Enterprise” every of which governs the utility options and minting of its related Energy Tokens.

The PARSIQ Crew Seems to be to the Future

The launch follows a profitable twelve months for PARSIQ. A number of integrations with quite a lot of DeFi ecosystems are setting the stage for PARSIQ’s meant future presence within the business. 

In direction of the tip of final 12 months, PARSIQ made its community obtainable to Binance Good Chain (BSC) customers. The mixing permits these customers to entry PARSIQ’s Good Triggers characteristic, enabling them to create customizable event-responsive functions on BCS, powered by PARSIQ. The mixing with BSC additionally gave PARSIQ entry to growth funding via Binance’s $100 million accelerator fund, which is able to undoubtedly be helpful in PARSIQ’s future efforts to evolve the DeFi area. 

Along with BSC, PARSIQ is built-in with a number of different blockchain-ecosystems and tasks, together with Solana, Ocean Protocol, Balancer, PAID Community and Injective Protocol amongst many extra.  For extra on PARSIQ’s collaborations and integrations, try their weblog.

Certainly, these profitable developments are mirrored in PRQ’s development, having seen a three-fold enhance in worth this 12 months alone. With IQ Protocol’s launch, all eyes are on what’s subsequent for this pioneering venture. 

Disclaimer: The knowledge introduced right here doesn’t represent funding recommendation or a proposal to take a position. The statements, views, and opinions expressed on this article are solely these of the writer/firm and don’t signify these of Bitcoinist. We strongly advise our readers to DYOR earlier than investing in any cryptocurrency, blockchain venture, or ICO, significantly those who assure earnings. Moreover, Bitcoinist doesn’t assure or indicate that the cryptocurrencies or tasks revealed are authorized in any particular reader’s location. It’s the reader’s duty to know the legal guidelines relating to cryptocurrencies and ICOs in his or her nation.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here