On-chain cryptocurrency data monitoring platform PARSIQ is set to launch a massive 1 million $PRQ incentive program.
PARSIQ Unveils $PRQ Incentive Program
PARSIQ, a blockchain monitoring and workflow automation platform that bridges the gap between on-chain and off-chain applications in real-time by providing transaction notifications for end-users today shared details of its 1 million $PRQ incentive program for IQ pool participants.
The newly launched IQ protocol will enable $PRQ token holders to stake tokens to platform users for additional rewards and incentives.
In addition, the IQ pool participants will be eligible for a 1 million $PRQ incentive program and airdrops for the IQ Governance Token, details of which are expected to be out soon.
For the uninitiated, the IQ Protocol is the latest addition to PARSIQ’s rapidly expanding blockchain suite that allows PRQ token holders to lend tokens to platform participants and earn additional rewards by staking their assets via the IQ protocol liquidity pools.
In turn, platform users will be able to rent PRQ tokens from the pool to leverage PARSIQ’s SaaS platform to monitor blockchain activity. This way, users will be able to set up real-time automation on-chain and off-chain for a wide array of purposes.
The newly unveiled 1 million $PRQ incentives program ensures that more tokens are distributed to IQ liquidity pool participants.
Commenting, Tom Tirman, CEO of PARSIQ, 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 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.”
Conditions of the PRQ Token Incentive Program
Notably, all wallets providing liquidity to the IQ lending protocol will be eligible to receive a proportional share of the $PRQ incentive. The campaign is scheduled to run from October 1 until December 31, 2021.
As for the rewards, they will be vested for four months – with 25% of them unlocked on February 1. Later, additional rewards will become accessible on the first of every coming month. The final unlock will happen on May 1, 2021.
Importantly, the PARSIQ team will take a snapshot of the network on December 31 to ascertain which liquidity participants would be eligible for the airdrop of the IQ protocol governance tokens. The airdrop of these tokens will happen in the first half of 2022.
More details about the aforementioned airdrop will be shared on PARSIQ’s official channels.
In another encouraging development for the PARSIQ ecosystem, the team was able to successfully raise $3 million in a recent investment round. The round was led by the Solana Foundation and Axia8 Ventures while other investors included the likes of Mindworks VC, Krypital Group, CoinUnited, Transfer Swiss, Elevate Ventures, Sanctum Ventures, and others.
To learn more about PARSIQ, please visit the following website: https://www.PARSIQ.net/en
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