Transforming File Storage Applications With IQ Protocol

As more and more blockchain applications and protocols are being developed every day, the token economy has been proliferating as well. For many projects, the platform’s native token is vital to the long-term success of the project. Unfortunately, most of these blockchain apps that have utility tokens are challenged with weak token economics. Sustaining strong incentives for users to utilize these tokens is essential to building healthy long-term economics.

File storage apps are no exception, especially those with tokens baked into the application ecosystem. IQ Protocol can help strengthen their token economy by establishing additional incentives through risk-free lending for token holders. For file storage apps, this is a ready-to-customize subscription model system that provides cost-efficient and new monetization models.

Here are ways that IQ can transform file storage apps’ business model:

• Drive solid long-term demand for your native token by creating a circular economy to increase utility. Service providers can offer more incentives to users for better customer retention. For example, token holders can earn passive returns by lending tokens to IQ Protocol’s lending pool, in a risk-free fashion. Users are incentivized to buy and hold more tokens in addition to the minimum amounts required to access the platform’s existing plans.
• Retain immutable transaction data to reliably track subscription payments, settlement dates, payment profiles, and detailed transaction history through a trustless smart contract design.
• Save transactional cost over time while retaining the benefits of strong data reliability and consumer privacy. IQ Protocol is optimized to efficiently process transactions for whether small or large in volume.
• Program specific business model logics that are highly customizable within the protocol

For file storage app users, here’s how IQ Protocol can benefit you:

• Customers who subscribe to the service can choose to pay in flexible methods accepted by the platform, including cash payments.
• Earn additional rewards if you hold the file storage app’s native token, or if you have extra cash. Rewards are sourced from platform fees paid by subscribers and other revenue sources shared back to the lenders. There’s no catch or hidden fees. You can withdraw your initial investment and earnings at any time.

IQ Protocol’s application for file storage providers is just the tip of the iceberg. The new protocol directly benefits file storage service providers, users of the platform, and other stakeholders involved in the business model. As demand for decentralized file storage apps grows, so will the need for greater incentives and efficient tokenomics. Fortunately, IQ Protocol is already designed to meet those dynamic challenges.