IQ Protocol: An open-source decentralized SaaS to empower PARSIQ subscriptions

The power for corporations to create their enterprise fashions by issuing tokens is advancing the FinTech {industry} as we all know it.

Tokenomics, or the token economics behind these blockchain-based property, are utterly redefining the best way corporations fundraise and implement enterprise fashions.

Nonetheless, this evolution has additionally led to complicated regulatory, economical, and technical challenges that may sway many from adopting token frameworks.

For instance, tasks providing present tokens have weak utility behind their tokens. This often results in poor demand and objective behind the token.

Aside from that, not each venture has the correct know-how to create a powerful token economic system, which is important to the long-term progress of the venture.

Moreover, launching a token is hard as most tasks (blockchain-based or not) definitely don’t need their token to be categorized as funding securities.

Fortunately, IQ Protocol, developed by PARSIQ can remedy all of those issues. IQ Protocol gives an modern round economic system mannequin permitting tasks, enterprise corporations, and organizations to concern and handle compliant tokens.

The First Cryptocurrency SaaS, Defined

Because the creators of IQ Protocol, the PARSIQ workforce has devised a blockchain agnostic answer for implementing subscriptions on-chain in a versatile and low cost method. This has been accomplished all whereas preserving the all-important workflows equivalent to cancel/refund insurance policies, completely different timeframe issues, consumption charge quotas, reductions, and extra. This was completed by the introduction of an idea using PowerTokens.

PowerTokens aren’t used as a way of cost, however relatively, as a deterministic over-time “power” generator. Inside IQ, power performs a job in accounting for the unit of service consumption (like fuel models in Ethereum).

PARSIQ serves as a platform for blockchain monitoring and interpretation: permitting companies and people to construct customized Sensible Triggers and embrace real-time blockchain knowledge streams.

Fixing the widespread crypto “token not wanted” drawback, the corporate has grow to be the primary enterprise to remodel the standard subscription mannequin utilizing IQ Protocol.

As of right now, each PARSIQ consumer can use the platform and construct monitoring options just by holding PRQ tokens as a technique of cost.

IQ Protocol helps corporations construct a round economic system and bear in mind the pursuits of the principle shareholder teams: HODLers, service customers, and merchants. Beneath IQ, the brand new PARSIQ subscription mannequin works as follows:

  1. Platform customers, primarily companies, pay for the service by holding particular PRQ tokens. Shoppers have two choices: both purchase the unique tokens which have lifetime worth or hire PRQ tokens from the renting pool. The principle thought right here is that the unique tokens aren’t launched from the renting pool. As a substitute, the pool mints an expirable model of those tokens.
  2. Lenders can mortgage their PRQ into the IQ Protocol and begin incomes yield. If an individual lends his PRQ to the pool, he can be issued iPRQ (curiosity PRQ) as proof that he has positioned PRQ into the pool. Because the title suggests, the lender earns an curiosity on his PRQ when PARSIQ buyer borrows them from the pool.

Subscription as a Service (SaaS) – Powered by IQ

Leveraging PARSIQ’s revolutionary IQ Protocol, companies will now have the ability to seamlessly assemble blockchain SaaS fashions – enabling corporations throughout all industries to tokenize their services or products for consumption on-chain.

That is attainable by way of IQ and the introduction of an idea referred to as Life Time Worth (LTV). When an organization tokenizes their choices, every token is assigned an LTV, giving the token holder the precise to eat an outlined quantity of products or providers.

Such an idea permits virtually something to be placed on the blockchain – from the content material streaming enterprise to your native market, a enterprise can tokenize their product choices and assign every issued token an LTV.

Utilizing these as examples, content material streamers can concern tokens that enable the token holder to eat one hour of content material every day for the subsequent 12 months.

The native market might provide weekly supply of house necessities (recent fruits, milk, bread), which might be delivered at first of every week for 52 weeks.

The chances are restricted solely by how the enterprise goals to tokenize its choices. On the buyer aspect, people would merely buy the tokens.

By advantage of holding the token, the token holder could be the recipient of the worth that has been outlined for that token, for the lifetime of that token.

Moreover, shoppers who don’t want to maintain tokens however would like to hire them may do that, by way of the introduction of a renting pool – made attainable by the Protocol.

As long as these tokens are held or rented, the buyer can benefit from the worth tied to the token.

In doing so, a blockchain subscription mannequin has been born. By way of this strategy, IQ allows companies to cater to their present audiences, and unlock new income streams.

It does this by permitting corporations to supply uniquely tailor-made choices to a possible buyer that is probably not prepared to totally decide to an organization’s services or products simply but.

Moreover, crypto tasks fighting present tokenomics buildings can profit from IQ. After initially elevating funds, many tasks undergo from discovering a use case for his or her tokens.

At finest, a client could also be incentivized to purchase the venture’s token, just for the aim of spending it to amass a specific service.

Beneath this mannequin, it makes little sense to undergo this middleman step if, in actuality, the transaction may be carried out totally in fiat.

Nonetheless, with the IQ Protocol, such corporations can tokenize their product choices –incentivizing communities to carry venture tokens for the lifetime of the token, whereas having fun with the worth that has been assigned to that token.

Additional, token holders have the potential to earn, by depositing their holdings in renting swimming pools and buying curiosity funds.

By way of IQ, a venture can develop a round economic system, drive demand for his or her providers and their token, which finally advantages all believers of the venture being supported.

Free, Clear, and Open Supply

As an open-source protocol, any venture can make the most of IQ to suit their wants. Due to this, corporations can customise the answer to make sure a correct match to their present enterprise fashions. Additional, the prices of implementation are manageable, restricted to the prices for paying GAS.

Beneath this environment friendly and simple to undertake mannequin, PARSIQ is presently working with over twenty corporations in deploying IQ Protocol.

You probably have any questions on how IQ may be integrated into your present enterprise mannequin, the PARSIQ workforce is able to help in your queries.

Crypto tasks using IQ Protocol can:

Concern utility tokens that aren’t securities

  •  The system is transparently designed such that the standards for securities don’t apply to tokens issued on IQ Protocol
  • Companies constructed into IQ Protocol, such because the risk-free lending and borrowing characteristic, are utterly non-custodial
  •  Lenders can present capital liquidity to the protocol voluntarily and management their tokens by trustless good contracts
  • Since voluntary lenders or debtors use the service at their very own will, tasks won’t be held accountable for any assured returns from the lending pool

Make token issuance easy and safe

  • No want to consider how one can implement complicated tokenomics when issuing tokens as a result of IQ Protocol has industry-grade safety frameworks already built-in
  • Profit from the benefit of getting correct tokenomics able to customise and deploy
  • Which means corporations can give attention to the enterprise logic and execution utilizing the token with out having to fret about underlying technical complexities

For extra on how Parsiq is utilizing its distinctive IQ Protocol to energy the world’s first Saas firm, go to their predominant web site right here.

Disclaimer: It is a paid submit and shouldn’t be handled as information/recommendation.

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