THELOGICALINDIAN - Over the aftermost year the cryptocurrency amplitude has acquired from an industry of abstract assets to accouterment globallyusable banking articles and casework in a decentralized way In actuality decentralized Finance DeFi has apparent how blockchain technology can booty over from bequest systems to affirm the boilerplate banking world
Next in line: the Software as a Service (SaaS) market. This is the active force abaft PARSIQ’s all-new certain and collateral-free DeFi protocol.
PARSIQ Launches IQ Protocol Testnet on Ethereum
IQ Agreement is PARSIQ’s aboriginal apple-pie attack at entering the DeFi space. It is the world’s aboriginal risk-free, collateral-less DeFi agreement to tokenize SaaS subscriptions in the DeFi sector. If the testnet, debuting on Ethereum, is successful, the accessible mainnet will barrage in Q2 this year.
The First-Ever Risk-Free Collateral-Less DeFi Project
The open-source IQ Protocol is absolutely arguable and seeks to body a assorted annular crypto-economy about SaaS subscriptions, bringing an avant-garde new access to boilerplate developers while additionally authoritative basic DeFi casework such as staking, borrowing, and lending calmly accessible.
In a DeFi industry first, IQ Agreement does abroad with the accessory claim to participate in the arrangement or body on the protocol, eliminating the risks generally associated with DeFi projects.
The certain accessible antecedent development ambiance offered by PARSIQ will access up addition in the area and will acquiesce the approaching of banking applications to bloom and ability boilerplate penetration.
In addition, it combines blockchain technology and DeFi into a SaaS appliance that allows crypto-based ecosystems to thrive.
Several partnerships accept already been established, with abstracts exchange belvedere Ocean Protocol relying on PARSIQ’s different Smart Triggers band-aid and Solana leveraging the convenient scripting accent to address custom scenarios, amalgamate abstracts streams, and abundant more.
Reimagined Tokenomics Revolutionize SaaS Subscriptions Forever
Also ablution alongside the IQ Protocol will be a anew upgraded tokenomics archetypal that requires users to authority PRQ. IQ Protocol will advance its different On-Chain Subscription archetypal to codify affection admission eligibility.
The blueprint will accumulate the bulk of PRQ tokens captivated and the continuance they’re captivated for. Contributors with the accomplished abstracts will accretion the best abiding aeon of admission to IQ in return.
IQ Protocol additionally offers a advocate new arrangement that lets its users and developers borrow or “rent” PRQ by advantageous a fee instead of acute any collateral. This certain archetypal instead relies on tokenized SaaS cable fees to drive the ecosystem and affair rewards.
Indeed, IQ takes this confusing barrage added with the addition of “Power Tokens”. Power Tokens are account tokens for IQ Protocol, but with a twist: they accomplish account over time. Unlike their accepted counterparts which represent a anchored bulk of utility, IQ’s Power Tokens acquiesce holders to subscribe to IQ Protocol’s services. This added underpins the subscription-focussed access PARSIQ is aiming to acquaint to the DeFi space.
Moreover, Power Tokens are “housed” in a accumulating of acute affairs alleged a “Power Enterprise” anniversary of which governs the account appearance and minting of its associated Power Tokens.
The PARSIQ Team Looks to the Future
The barrage follows a acknowledged twelve months for PARSIQ. Several integrations with a cardinal of DeFi ecosystems are ambience the date for PARSIQ’s advised approaching attendance in the industry.
Towards the end of aftermost year, PARSIQ fabricated its arrangement accessible to Binance Smart Chain (BSC) users. The affiliation allows those users to admission PARSIQ’s Smart Triggers feature, enabling them to actualize customizable event-responsive applications on BCS, powered by PARSIQ. The affiliation with BSC additionally gave PARSIQ admission to development allotment through Binance’s $100 actor accelerator fund, which will assuredly be advantageous in PARSIQ’s approaching efforts to advance the DeFi space.
In accession to BSC, PARSIQ is chip with several added blockchain-ecosystems and projects, including Solana, Ocean Protocol, Balancer, PAID Network and Injective Protocol amidst abounding more. For added on PARSIQ’s collaborations and integrations, analysis out their blog.
Indeed, these acknowledged developments are reflected in PRQ’s growth, accepting apparent a three-fold access in amount this year alone. With IQ Protocol’s launch, all eyes are on what is abutting for this beat project.
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