Place/Date: Tallinn, Estonia - September 27th, 2021 at 3:00 pm UTC · 4 min read
Contact: Francis Foster, Source: PARSIQ
PARSIQ, a cryptocurrency platform monitoring on-chain data, announces its 1 million $PRQ Incentive Program for IQ pool participants. The news marks an essential milestone for the PARSIQ ecosystem, as IQ protocol is the most recent addition to PARSIQ’s blockchain suite. PRQ token holders can lend tokens to platform participants and earn additional rewards.
PARSIQ is taking the next step in the evolution of blockchain technology and bringing value to the PRQ token. Any holder of the native PRQ token can begin staking their assets through the IQ Protocol liquidity pools. Doing so introduces more utility for the $PRQ token and creates an incentive for token holders to keep their earnings for a longer period.
Platform users can rent tokens from the pool to use PARSIQ’s SaaS platform to monitor blockchain activity. Through this process, users can set up real-time automation on-chain and off-chain for a wide variety of purposes. The new 1 million $PRQ Incentive Program ensures more tokens will be distributed to IQ liquidity pool participants.
PARSIQ CEO Tom Tirman explains:
“The IQ Protocol has been a product which we’ve been working on for some time, and we’re excited to be able to announce it alongside this 1m $PRQ incentive programme. We believe the lending/borrowing feature will provide additional value for PRQ holders and our SaaS users.
In addition to the 1m incentive, participants of the IQ lending pool will also be eligible for the IQ Governance Token airdrop expected for the first half of 2022. In the meantime we will continue to expand our platform functionality and continue to onboard a rapidly expanding roster of clients and partners.”
All wallets providing liquidity to the IQ lending pool will receive a proportional share of the $PRQ incentive. The campaign runs from October 1 until December 31, 2021. After that, all rewards will be vested for four months, with 25% unlocking on February 1. After that, additional rewards will become accessible on the first of every subsequent month. The final unlock is slated to occur on May 1, 2021.
The PARSIQ team will take a snapshot on December 31st to determine which liquidity-providing participants are eligible for the airdrop of IQ Protocol Governance tokens.That airdrop will occur in the first half of 2022. The PARSIQ team will announce more details on this airdrop through its official channels.
The good news keeps coming for PARSIQ, as the team raised $3 million in a recent investment round. The Solana Foundation and Axia8 Ventures led the round. Other investors include Mindworks VC, Krypital Group, CoinUnited, Transfer Swiss, Elevate Ventures, Sanctum Ventures, etc.
PARSIQ is a blockchain monitoring and workflow automation platform connecting on-chain and off-chain applications in real-time, providing transaction notifications for end-users. With PARSIQ you can connect blockchain activity to off-chain apps and devices, monitor and secure DeFi applications, and build custom event triggers and power real-time automations.
PARSIQ has signed collaboration agreements with top-tier partners globally. In September 2019, Algorand, another startup blockchain monitoring system, enhanced its analytical capabilities by adding PARSIQ to its platform.
By June 2020, PARSIQ and Dash, a leading provider of end-to-end cryptocurrency payment services, formed an alliance to allow real-time Dash transaction notifications via PARSIQ’s Smart Triggers. Three months later, the firm cooperated with Bitfury Crystal and integrated its transaction risk scoring capabilities into the PARSIQ system to power their AML and KYT processes. In November 2020, PARSIQ and AllianceBlock announced a new partnership with a focus on data sharing in both DeFi and TradFi.
In 2021, PARSIQ entered into another string of alliances, including SuperFarm, Injective, PAID Network, Polkadot and ChainLink. The latter, to allow integration of its oracle price, feeds into PARSIQ’s monitoring and automation platform.
PARSIQ (PRQ) has been listed on the OKEx exchange since January 2021 and the KuCoin Exchange since May 2021.