PARSIQ, an enterprise blockchain options supplier has stepped into the DeFi house by asserting its IQ Protocol launch. Presently, on an Ethereum-based testnet, IQ Protocol is a DeFi resolution for the SaaS market that tokenizes subscriptions and creates a round economic system, full with staking, lending, and borrowing options.
The launch of IQ Protocol permits PARSIQ to introduce the idea of DeFi to a $160 billion business phase and encourage cooperative growth within the house. The testnet part will enable the corporate to create a secure providing whereas noting the business necessities for additional growth. If all the pieces goes in response to the plan, PARSIQ will probably be deploying IQ Protocol on Ethereum mainnet earlier than the tip of Q2 2021.
PARSIQ Grows Past Blockchain Analytics to Enter DeFi Area
Initially a blockchain analytics platform, PARSIQ has outgrown its early kind to incorporate customized blockchain-backed automation and DeFi options as part of its providing. With PARSIQ, customers can monitor and map the actions of off-chain units and functions to any supported blockchain and create customized real-time occasion triggers for automation.
With IQ, PARSIQ may also present the world’s first risk-free, collateral-less DeFi protocol to its shoppers trying to combine DeFi options into their choices. The utterly trustless, open-source IQ Protocol has already garnered curiosity from many DeFi tasks trying ahead to benefiting from its distinctive tokenomics and participation necessities.
PARSIQ Re’DeFi’nes DeFi by Getting Rid of Collateral Requirement
Like a number of different blockchain tasks, IQ Protocol is fuelled by PARSIQ’s native PRQ token. The On-Chain Subscription mannequin on IQ Protocol decides the eligibility of token holders to entry companies and options primarily based on their token holding sample, rewarding longer-term holders. Furthermore, IQ Protocol introduces the idea of Energy Tokens, which, in contrast to typical utility tokens, generate utility over time in what’s akin to a utility subscription mannequin. These tokens are organized into “Energy Enterprises”, a set of good contracts which handle their performance. This contains proposal funding, governance, and voting rights, in addition to the power to mint new Energy Tokens.
Alternatively, customers can select to borrow or hire PRQ from IQ Protocol for a price with none collateral to entry the companies. The collateral-free lending of PRQ is nowhere seen earlier than in a DeFi setting and is exclusive to IQ Protocol.
In the meantime, PARSIQ’s current integrations with Solana, Ocean Protocol, Binance Good Chain amongst many extra, will enable IQ-based DeFi tasks to effectively eat numerous market-related knowledge streams and set off applicable occasions needed utilizing PARSIQ’s Good Set off characteristic. Furthermore, these integrations will decrease the opposed results of rising transaction charges on the Ethereum blockchain.
Keep up to date on PARSIQ’s integrations by testing their blog.
All the things DeFi Wants in a Single Package deal
IQ Protocol is a one-stop-shop for DeFi wants within the making. It combines the very best of DeFi with the flexibleness of SaaS to supply an simply accessible resolution for people and companies alike. The rising demand for DeFi tasks and the necessity for DeFi-like options in a extra conventional setting places PARSIQ in an excellent place to cater to a broader market.
Be taught extra about PARSIQ at – https://www.parsiq.net/