The renowned cryptocurrency platform Parsiq, dedicated to monitoring on-chain data, is launching a promotional program to incentivize token holders to lend $PRQ tokens to Parsiq platform participants so as to earn additional $PRQ in rewards.
The Parsiq blockchain platform team is delivering 1 million $PRQ tokens in rewards as an Incentive Program to IQ pool participants.
1m $PRQ to be Distributed to Parsiq IQ Pool Participants
The Parsiq blockchain platform is designed to monitor automation workflow by connecting on and off chain applications in real-time, and notifying end-users about their transactions.
In other words Parsiq connects blockchain activity with off-chain devices and applications by successfully monitoring DeFi apps and triggering custom notifications to end users.
The IQ protocol is the newest addition to the Parsiq blockchain suite, and this incentive program essentially comes in to promote the IQ protocol adoption to enlarge the Parsiq blockchain’s user-base.
Keeping an Eye on Blockchain
Parsiq platform is the next step in the evolution of blockchain technology providing increasing value to the PRQ token.
All holders of the native PRQ token are invited to participate in this Program by staking their PRQ tokens through the IQ Protocol liquidity pools.
This implies more utility and therefore value increment to the PRQ token subsequently incentivizing token holders to hold their assets for longer periods.
The Incentive Program allows Parsiq blockchain users to rent PRQ tokens from liquidity pools needed to access Parsiq’s SaaS platform used to monitor on-chain data on the blockchain platform.
With this, platform users are able to set up real-time automation over on and off-chain activity for an array of different purposes.
More Rewards for Participating
Through the 1 million $PRQ Incentive Program more assets in reward will be available to those participating in the IQ liquidity pools.
Tom Tirman, CEO at Parsiq further 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.”
Those wallets lending PRQ tokens to the IQ liquidity pool will receive a proportional amount of $PRQ tokens as a reward.
IQ protocol participants with PRQ tokens will be able to participate in the Incentive Program starting from October 1st until December 31st, 2021.
When the participation time frame is over, PRQ rewards will be allocated to lending holders in a four month time period, starting with 25% of these allocations on February 1st and subsequently every first day of the next month until May 1st, 2022.
Also, by December 31st, the Parsiq team will determine which liquidity providers are eligible for the airdrop of IQ Protocol Governance tokens.
The Governance tokens will airdrop during the first half of 2022 though more details on these Governance tokens will be informed by the Parsiq team through their official channels.
This incentive program and the announcement of the Governance tokens coming soon is a continuation of the growth observed of the Parsiq blockchain after the team raised $3 million in their latest investment round.
Among the leading run of investors we can find The Solana Foundation and Axia8 Ventures. Yet other investors in this run includes Mindworks VC, Krypital Group, CoinUnited, Transfer Swiss, Elevate Ventures, Sanctum Ventures, etc.
For more information on the Incentive Program or to learn more about PARSIQ blockchain, you can visit: https://www.PARSIQ.net/en