During the last yr, the cryptocurrency house has developed from an trade of speculative belongings, to offering globally-usable monetary services in a decentralized approach. In truth, decentralized Finance (DeFi) has proven how blockchain know-how can take over from, legacy techniques to underpin the mainstream monetary world.
Subsequent in line: the Software program as a Service (SaaS) market. That is the driving power 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 coming into the DeFi house. 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 yr.
The First-Ever Danger-Free Collateral-Much less DeFi Venture
The open-source IQ Protocol is absolutely trustless and seeks to construct a various round crypto-economy round SaaS subscriptions, bringing an revolutionary new method to mainstream builders whereas additionally making important DeFi companies equivalent to staking, borrowing, and lending simply accessible.
In a DeFi trade first, IQ Protocol does away with the collateral requirement to take part within the community or construct on the protocol, eliminating the dangers usually related to DeFi initiatives.
The danger-free open supply improvement surroundings supplied by PARSIQ will ramp up innovation within the sector and can enable the way forward for monetary purposes to blossom and attain mainstream penetration.
As well as, it combines blockchain know-how and DeFi right into a SaaS software that enables crypto-based ecosystems to thrive.
A number of partnerships have already been established, with knowledge market platform Ocean Protocol counting on PARSIQ’s distinctive Sensible Triggers resolution and Solana leveraging the user-friendly scripting language to write down customized situations, mix knowledge streams, and rather more.
Reimagined Tokenomics Revolutionize SaaS Subscriptions Ceaselessly
Additionally launching alongside the IQ Protocol might 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 system will multiply the quantity of PRQ tokens held and the period they’re held for. Contributors with the best figures will achieve probably the most extended interval of entry to IQ in return.
IQ Protocol additionally affords a revolutionary new system that lets its customers and builders borrow or “lease” PRQ by paying a payment as a substitute of requiring any collateral. This risk-free mannequin as a substitute depends on tokenized SaaS subscription charges to drive the ecosystem and difficulty 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. In contrast to their standard counterparts which symbolize a set quantity of utility, IQ’s Energy Tokens enable holders to subscribe to IQ Protocol’s companies. This additional underpins the subscription-focussed method PARSIQ is aiming to introduce to the DeFi house.
Furthermore, Energy Tokens are “housed” in a set of sensible contracts known as a “Energy Enterprise” every of which governs the utility options and minting of its related Energy Tokens.
The PARSIQ Staff Seems to the Future
The launch follows a profitable twelve months for PARSIQ. A number of integrations with quite a few DeFi ecosystems are setting the stage for PARSIQ’s meant future presence within the trade.
In the direction of the top of final yr, PARSIQ made its community accessible to Binance Sensible Chain (BSC) customers. The mixing permits these customers to entry PARSIQ’s Sensible Triggers characteristic, enabling them to create customizable event-responsive purposes on BCS, powered by PARSIQ. The mixing with BSC additionally gave PARSIQ entry to improvement funding by Binance’s $100 million accelerator fund, which is able to undoubtedly be helpful in PARSIQ’s future efforts to evolve the DeFi house.
Along with BSC, PARSIQ is built-in with a number of different blockchain-ecosystems and initiatives, 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 progress, having seen a three-fold improve in worth this yr alone. With IQ Protocol’s launch, all eyes are on what’s subsequent for this pioneering mission.
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