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PARSIQ Introduces New Subscription Mannequin as World’s First Decentralized SaaS Powered by IQ Protocol

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 belongings, are fully redefining the way in which corporations fundraise and implement enterprise fashions. Nevertheless, this evolution has additionally caused advanced 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 normally results in poor demand and goal behind the token. Aside from that, not each mission has the correct know-how to create a powerful token economic system, which is important to the long-term development of the mission. Moreover, launching a token is difficult as most tasks (blockchain-based or not) actually 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 revolutionary round economic system mannequin permitting tasks, enterprise corporations and organizations to challenge and handle compliant tokens.

The First Cryptocurrency SaaS, Defined


Because the creators of IQ Protocol, the PARSIQ crew has devised a blockchain agnostic resolution for implementing subscriptions on-chain in a versatile and low cost method.  This has been performed all whereas preserving the all-important workflows resembling cancel/refund insurance policies, totally different time frame concerns, consumption charge quotas, reductions, and extra. This was completed by way of the introduction of an idea using PowerTokens.  PowerTokens aren’t used as a method of cost, however relatively, as a deterministic over-time “power” generator.  Inside IQ, power performs a task in accounting for the unit of service consumption (like fuel items 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 information streams.

Fixing the frequent crypto “token not wanted” downside, the corporate has grow to be the primary enterprise to rework the standard subscription mannequin utilizing IQ Protocol.  As of right now, each PARSIQ person 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. Underneath IQ, the brand new PARSIQ subscription mannequin works as follows:

  1. Platform customers, primarily companies, pay for the service by holding particular PRQ tokens. Customers have two choices: both purchase the unique tokens which have life-time worth, or hire PRQ tokens from the renting pool. The primary concept right here is that the unique tokens aren’t launched from the renting pool. As an alternative, 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 be capable of seamlessly assemble blockchain SaaS fashions – enabling corporations throughout all industries to tokenize their services or products for consumption on-chain.

That is potential through IQ and the introduction of an idea generally known 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 companies.

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 challenge tokens that permit the token holder to eat one hour of content material every day for the following twelve months.  The native market may supply weekly supply of house necessities (recent fruits, milk, bread), which might be delivered at the start of every week for 52 weeks.  The probabilities are restricted solely by how the enterprise goals to tokenize its choices. On the patron 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, customers who don’t want to maintain tokens however would favor to hire them may also do that, through the introduction of a renting pool – made potential by the Protocol.  As long as these tokens are held or rented, the patron can benefit from the worth tied to the token.  In doing so, a blockchain subscription mannequin has been born.

By this strategy, IQ permits 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 will not be 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 endure from discovering a use case for his or her tokens.  At finest, a shopper could also be incentivized to purchase the mission’s token, just for the aim of spending it to amass a specific service.  Underneath this mannequin, it makes little sense to undergo this middleman step if, in actuality, the transaction might be performed fully in fiat.

Nevertheless, with the IQ Protocol, such corporations can tokenize their product choices – incentivizing communities to carry mission 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 IQ, a mission can develop a round economic system, drive demand for his or her companies and their token, which finally advantages all believers of the mission being supported.

Free, Clear, and Open Supply

As an open-source protocol, any mission can make the most of IQ to suit its 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.

Underneath this environment friendly and simple to undertake mannequin, PARSIQ is at present working with over twenty corporations in deploying IQ Protocol.  In case you have any questions on how IQ might be included into your present enterprise mannequin, the PARSIQ crew 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 function, are fully non-custodial
  • Lenders can present capital liquidity to the protocol voluntarily and management their tokens by way of trustless sensible contracts
  • Since voluntary lenders or debtors use the service at their very own will, tasks is not going to be held accountable for any assured returns from the lending pool

Make token issuance easy and safe

  • No want to consider learn how to implement advanced tokenomics when issuing tokens as a result of IQ Protocol has industry-grade safety frameworks already built-in
  • Profit from the convenience of getting correct tokenomics able to customise and deploy
  • Which means that corporations can concentrate on 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 major website right here.

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