PARSIQ Introduces New Subscription Model as World’s First Decentralized SaaS Powered by IQ Protocol
30 August 2021 - 10:51AM
NEWSBTC
The ability for companies to create their business models by
issuing tokens is advancing the FinTech industry as we know it.
Tokenomics, or the token economics behind these blockchain-based
assets, are completely redefining the way companies fundraise and
implement business models. However, this evolution has also brought
about complex regulatory, economical and technical challenges that
can sway many from adopting token frameworks. For example, projects
offering existing tokens have weak utility behind their tokens.
This usually leads to poor demand and purpose behind the token.
Apart from that, not every project has the proper know-how to
create a strong token economy, which is vital to the long-term
growth of the project. Furthermore, launching a token is tricky as
most projects (blockchain-based or not) certainly don’t want their
token to be categorized as investment securities. Thankfully, IQ
Protocol, developed by PARSIQ can solve all of these problems. IQ
Protocol offers an innovative circular economy model allowing
projects, enterprise firms and organizations to issue and manage
compliant tokens. The First Cryptocurrency SaaS, Explained As the
creators of IQ Protocol, the PARSIQ team has devised a blockchain
agnostic solution for implementing subscriptions on-chain in a
flexible and cheap manner. This has been done all while
preserving the all-important workflows such as cancel/refund
policies, different time-frame considerations, consumption rate
quotas, discounts, and more. This was accomplished through the
introduction of a concept utilizing PowerTokens. PowerTokens
are not used as a means of payment, but rather, as a deterministic
over-time “energy” generator. Within IQ, energy plays a role
in accounting for the unit of service consumption (like gas units
in Ethereum). PARSIQ serves as a platform for blockchain monitoring
and interpretation: allowing businesses and individuals to build
custom Smart Triggers and embrace real-time blockchain data
streams. Solving the common crypto “token not needed” problem, the
company has become the first enterprise to transform the
traditional subscription model using IQ Protocol. As of
today, every PARSIQ user can use the platform and build monitoring
solutions simply by holding PRQ tokens as a method of payment. IQ
Protocol helps companies build a circular economy and take into
account the interests of the main shareholder groups: HODLers,
service users, and traders. Under IQ, the new PARSIQ subscription
model works as follows: Platform users, mainly businesses, pay for
the service by holding special PRQ tokens. Consumers have two
options: either buy the original tokens that have life-time value,
or rent PRQ tokens from the renting pool. The main idea here is
that the original tokens are not released from the renting pool.
Instead, the pool mints an expirable version of these tokens.
Lenders can loan their PRQ into the IQ Protocol and start earning
yield. If a person lends his PRQ to the pool, he will be issued
iPRQ (interest PRQ) as proof that he has placed PRQ into the pool.
As the name suggests, the lender earns an interest on his PRQ when
PARSIQ customer borrows them from the pool.
Subscription as a Service (SaaS) – Powered by IQ Leveraging
PARSIQ’s revolutionary IQ Protocol, businesses will now be able to
seamlessly construct blockchain SaaS models – enabling companies
across all industries to tokenize their product or service for
consumption on-chain. This is possible via IQ and the introduction
of a concept known as Life Time Value (LTV). When a company
tokenizes their offerings, each token is assigned an LTV, giving
the token holder the right to consume a defined amount of goods or
services. Such a concept allows practically anything to be put on
the blockchain – from the content streaming business to your local
market, a business can tokenize their product offerings and assign
each issued token an LTV. Using these as examples, content
streamers can issue tokens that allow the token holder to consume
one hour of content each day for the next 365 days. The local
market could offer weekly delivery of home essentials (fresh
fruits, milk, bread), which would be delivered at the beginning of
each week for 52 weeks. The possibilities are limited only by
how the business aims to tokenize its offerings. On the consumer
side, individuals would simply purchase the tokens. By virtue
of holding the token, the token holder would be the recipient of
the value that has been defined for that token, for the life of
that token. Additionally, consumers who do not wish to hold tokens
but would prefer to rent them can also do this, via the
introduction of a renting pool – made possible by the
Protocol. So long as these tokens are held or rented, the
consumer can enjoy the value tied to the token. In doing so,
a blockchain subscription model has been born. Through this
approach, IQ enables businesses to cater to their existing
audiences, and unlock new revenue streams. It does this by
allowing companies to produce uniquely tailored offerings to a
potential customer that may not be ready to fully commit to a
company’s product or service just yet. Additionally, crypto
projects struggling with existing tokenomics structures can benefit
from IQ. After initially raising funds, many projects suffer
from finding a use case for their tokens. At best, a consumer
may be incentivized to buy the project’s token, only for the
purpose of spending it to acquire a particular service. Under
this model, it makes little sense to go through this intermediary
step if, in reality, the transaction can be conducted entirely in
fiat. However, with the IQ Protocol, such companies can tokenize
their product offerings – incentivizing communities to hold project
tokens for the life of the token, while enjoying the value that has
been assigned to that token. Further, token holders have the
potential to earn, by depositing their holdings in renting pools
and acquiring interest payments. Through IQ, a project can
develop a circular economy, drive demand for their services and
their token, which ultimately benefits all believers of the project
being supported. Free, Transparent, and Open Source As an
open-source protocol, any project can utilize IQ to fit its
needs. Because of this, companies can customize the solution
to ensure a proper fit to their existing business models.
Further, the costs of implementation are manageable, limited to the
costs for paying GAS. Under this efficient and easy to adopt model,
PARSIQ is currently working with over twenty companies in deploying
IQ Protocol. If you have any questions on how IQ can be
incorporated into your existing business model, the PARSIQ team is
ready to assist in your queries. Crypto projects utilizing IQ
Protocol can: Issue utility tokens that are not securities The
system is transparently designed such that the criteria for
securities do not apply to tokens issued on IQ Protocol Services
built into IQ Protocol, such as the risk-free lending and borrowing
feature, are completely non-custodial Lenders can provide capital
liquidity to the protocol voluntarily and control their tokens
through trustless smart contracts Since voluntary lenders or
borrowers use the service at their own will, projects will not be
held accountable for any guaranteed returns from the lending pool
Make token issuance simple and secure No need to think about how to
implement complex tokenomics when issuing tokens because IQ
Protocol has industry-grade security frameworks already built-in
Benefit from the ease of having proper tokenomics ready to
customize and deploy This means that companies can focus on the
business logic and execution using the token without having to
worry about underlying technical complexities For more on how
Parsiq is using its unique IQ Protocol to power the world’s first
Saas company, visit their main site here.
TRON (COIN:TRXUSD)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
TRON (COIN:TRXUSD)
Historical Stock Chart
Von Apr 2023 bis Apr 2024