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PARSIQ Launches 1M $PRQ Incentive Programme for IQ Pool Participants

PARSIQ Launches 1M $PRQ Incentive Programme for IQ Pool Participants Blockchain News
  • PARSIQ launches 1M $PRQ Incentive Programme.
  • Here, the 1M $PRQ will be distributed to IQ Pool Participants.
  • The participants are also eligible for staking and earning additional rewards.

PARSIQ, a cryptocurrency platform that monitors on-chain data, recently announced its new $1M PRQ Incentive Program for IQ pool participants. This serves as a remarkable milestone for the PARSIQ ecosystem, following the addition of the IQ protocol on PARSIQ’s blockchain suite. With this, PRQ token holders can now lend tokens to platform participants and earn additional rewards.

Moreover, PARSIQ is taking the next step in the evolution of blockchain and bringing significant value to the PRQ token. Now, all PRQ token holders can begin staking their assets through the IQ Protocol Liquidity pools. More so, this will enhance the utility of the PRQ token and will create an incentive for holders to keep their earnings longer.

In addition, users can also rent tokens from the pool and use them on PARSIQ’s SaaS platform to monitor blockchain activity. Through this, users will be able to set up real-time automation both on-chain and off-chain, for different purposes.

Therefore, PARSIQ ensures that the new $1 million PRQ Incentive Program will have more tokens to distribute for IQ liquidity pool participants.

PARSIQ’s CEO, Tom Tirman, mentioned that,

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.

He also added, “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.”

To add on, all wallets that provide liquidity to the IQ lending pool will also receive a fair share of the PRQ incentive. It is important to note that this campaign will run from October 1 until December 31, 2021.

After this period, all rewards will be vested for four months — with 25% unlocking on February 1, 2022. Then, other additional rewards will be accessible only during the first of every succeeding month. Finally, the last unlocking is set for May 1, 2022.

According to PARSIQ’s team, they will take a snapshot on December 31 to know which participants will be eligible for the airdrop of IQ Protocol Governance tokens. The said airdrop will occur also in the first half of 2022.

So much good news keeps coming for PARSIQ. In fact, the team has already raised $3 million in a recent investment round. Here, Solana Foundation and Axia8 Ventures were the leading firms. There were also other investors present like Mindworks VC, Transfer Swiss, Sanctum Ventures, etc.

Nonetheless, the PARSIQ team will announce more details regarding the PRQ Incentive Program, as well as the aforementioned airdrop through its official channels. Stay tuned!

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Cho Amisola is a passionate writer for both creative writing and digital publishing. She’s been featured and published in both areas and is now focusing on blockchain news.