1m $PRQ to be Distributed to IQ Pool Participants
- Newly launched IQ Protocol will allow PRQ token holders to stake tokens and earn yield, rewards and incentives.
- PARSIQ SaaS users will now have the ability to 'rent' wrapped expirable versions of the token from the pool.
- IQ Pool participants will be eligible for a 1m $PRQ incentive programme and airdrops of the soon to be announced IQ Governance Token.
TALLINN, ESTONIA / ACCESSWIRE / September 27, 2021 /Today PARSIQ Inc., a cryptocurrency platform which monitors on-chain data, have announced their 1m $PRQ incentive Programme for IQ staking pool participants.
Holders of PARSIQ's native token, $PRQ, are now able to stake their tokens using the IQ Protocol liquidity pools. Users will be able to borrow equivalent wrapped expirable tokens from the pool to utilize PARSIQ's SaaS platform which monitors blockchain activity to create real-time automations both on-chain and off-chain.
Of the incentive programme Tom Tirman, PARSIQ's CEO, said
"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 staking/renting 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."
In addition to the staking yields, the incentive will be shared proportionally amongst wallets providing liquidity to the staking pool from the 1st of October, through to the 31st December 2021. Rewards will be vested for 4 months, with 25% unlocked on February 1st and then each subsequent month on the 1st, with the final unlock on May 1st. Once the funds unlock they will be claimable by eligible wallets.
At the time of the snapshot on December 31st, all liquidity-providing participants will be eligible for the airdrop of IQ Protocol Governance tokens expected within the first half of 2022.
This news comes in the wake of PARSIQ raising $3 million in investment led by the Solana Foundation and Axia8 Ventures and included Mindworks VC, Krypital Group, CoinUnited, Transfero Swiss, Elevate Ventures, Sanctum Ventures, and others.
Notes to Editor
About PARSIQ Inc.: 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.
To learn more about PARSIQ, please visit the following website: https://www.PARSIQ.net/en.
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