Parsiq team composes their own way of success through innovative activities and never waste time depending on others. Parsiq is the first one to introduce collateral-less and risk-free IQ Protocol in blockchain history. Of late, when depositing in the lending protocol has gotten stuck, the Parsiq team announced their exclusive airdrop, which made things take a turn. By the time we were writing this article, there was a total deposit of nearly 50M PRQ in the IQ liquidity pool, which is tantamount to 40% of the total circulating supply. The Parsiq team announced that they have an attractive Parsiq airdrop for those who will stake their own Parsiq in the IQ Protocol in this Q4 of 2021. They will allocate a total of 1M Parsiq in this Parsiq Airdrop, and for the participant stakers of this season, they will develop IQ Governance Token Airdrop in 2022.
It hasn’t been so long since IQ Protocol got launched, and our expectation was like a massive number of lenders would be lending and borrowers would stumble upon borrowing PRQ. However, things were not going the way we expected. The depositing in the lending pool became stagnant after a total of 20M PRQ were added. PRQ team again proved that they are innovative what we again and again said. They changed the whole scenario of lending and borrowing in the IQ protocol with just a timely decision.
That Parsiq has taken a bold decision as we think is because Parsiq will distribute this 1M PRQ from their Parsiq Development wallet, and the amount is equal to 3% of the total PRQ Development wallet. So, we hope you understand how serious Parsiq is about taking this IQ Protocol to the next step.
Why does Parsiq announce 1 Million Incentive Program?
Truly to say, we have had no direct conversation with PRQ team regarding this issue. But what we suspect is being narrated in the form of some points below:
- What we said earlier and are saying again is that Parsiq IQ protocol has seen no PRQ increment from lenders after the addition of 20M. Probably, Parsiq team was waiting for increment at that time that caused no benefit ultimately. Then they decided on a 1 Million Incentive Program scheme, which is still being thought to be a game-changer.
Now the question is- Is this 1M PRQ Airdrop context-based or for drawing attention?
- The answer is simple for you to understand if you follow the activities of IQ Protocol from the very beginning.
- IQ Protocol is working as a matchmaker between lenders and borrowers. So, commonly lenders would like to enjoy high APY by staking PRQ and borrowers by borrowing at a low price.
- However, the IQ Protocol team makes a balance between them. In fact, PRQ team is making lenders enthusiasts for lending by announcing this 1M Incentive Program, and eventually creating opportunities for borrowers to enjoy service from IQ Protocol.
- Right now, the amount of Total Rented PRQ token in IQ Protocol is 24.5+ PRQ, whereas before announcing this PRQ airdrop, even the number of total token staking wasn’t 24.5M tokens.
What does it mean?
- It strongly means that tons of crypto companies were badly waiting to enjoy this IQ Protocol service. Many companies were willing to see an increment in PRQ staking tokens. After the announcement of PRQ airdrop was made, the amount of total rented PRQ token increased by 300%+.
It is now crystal clear from these equations that his 1M Incentive Program proclamation is never an overvalued announcement. Rather, such a timely decision for using the service of IQ Protocol and satisfying crypto projects was of utmost importance.
How will you participate in this 1M Parsiq Airdrop?
If you want to engage yourself with this exclusive airdrop of Parsiq, then you should add your Parsiq to the liquidity pool of Parsiq’s IQ Protocol and take a rest. You have nothing to do then. So, don’t waste your time because time-passing will gradually reduce your expectation of getting free Parsiq.
The reason is Parsiq team distributes their 1M Parsiq depending on two parameters. These two parameters are:
- How much you staked
- How long you staked.
So, your reward-gaining possibility will increase in harmony with how early you start staking your PRQ. And PRQ is set to distribute their 1M PRQ in the upcoming February, March, April, and May of 2022.
About IQ Protocol
As this IQ protocol is open-source, any project can use them with their native token. Users have two options for accessing any of their services or features. One option is they can have access as long as they have a certain amount of tokens in holding. The other option goes is they can rent tokens with expiry from lenders in exchange for paying them a fee in any crypto coin.
All parties tied under this model are benefited, including the lender and the company. Holders enjoy extra interest by lending their tokens. As a monitoring platform, Parsiq is also highly benefited here since they monitor the holding amount and other data of users.
The equilibrium between renting and holding is nicely maintained here so that the system doesn’t get stopped in the meantime. There is also an arrangement for solving the ‘token not needed’ problem for the community members.
For using the IQ Protocol, teams are waiting. And Parsiq’s CEO Tom is joyous to see the progress that pipelines for fungible utility tokens and NFT renting integrations are getting enlarged. They have some problems like the finishing of IQ SDK and IQ and technical documentation is yet to be done and they have all on different chains. They are expected to solve these problems very soon.
That Parsiq always delivers much more than the demand of its community members is proved through their PRQBoost. Who knows the IQ Governance token that you are getting by staking PRQ token in IQ Protocol will have a price higher than the current Parsiq price? If you stake Parsiq token in the IQ protocol right now, you will receive Parsiq token at more than a 5% APY ratio. There is no doubt to say that Parsiq’s price will go up one day. And if you want, you can read the article we wrote about this. As we said earlier, Parsiq has a huge possibility to get its price up in the future. The amount you are receiving now at more than a 5% ratio may swell up, and if so, it will leave you a high return. On the other hand, you will also receive the percentage of Parsiq from 1M PRQ Airdrop along with IQ Governance Token Airdrop. It means you are going to enjoy a compound reward. So, now, what thing will make an impediment in your way to staking PRQ token in IQ protocol (why are you sitting silently)?