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PARSIQ Q&A #10

Every Friday PARSIQ team answers your most important questions. Join our Telegram chat to ask!

🖖 Hello everyone! Another great set of AMA questions!

1.Regarding PRQ on Uniswap, inquiries about exchange listings driving price up & PRQ Liquidity. With the new Tokenomics Staking platform is there potential for the PRQ tokens to be valued inside that Tokenomics staking mechanism relative to demand for services from different clients, possibly negating the need to have many exchange listings (minimizing bots/wash trading/back door exchange shenanigans) but also constructed to ensure price pressure (Demand) is realised?

The market will always determine the price. But as the usage of the platform will increase, that means more demand, less tokens in free circulation and passive income for lenders. You are correct that spreading liquidity across too many exchanges is not the best move nor is it our plan. However, there will be more Uniswap pools created between PRQ and the native tokens of some of the bigger projects we are integrating or partnering with because that simplifies the community members of those projects to convert some of their holdings into PRQ at will to use the PARSIQ platform for use cases related to those projects (because we will have integrated them).

2.With demand for the PRQ token growing & with a finite supply, how will the team manage the staking? Would it be a case of say Company X requires a specific number of PRQ & there are not enough on market that the company then pays the PRQ holder higher staking fee’s to possibly use a single PRQ token for multiple internal uses, & the PRQ holder still gets the financial benefit of the price pressure?

It will work exactly like you described. In time, token scarcity will become an issue which will create demand, thus higher fees for borrowing PRQ and higher passive income for lenders.

3.Could there be an internal “bidding” option on the new Tokenomics platform whereby companies who may wish to lock up PRQ tokens for their purposes for longer periods of time can actual place higher bids/staking returns to potential PRQ holders so that they have an option to choose which rate/time frame they allow their PRQ tokens to be used for?

The “bidding” will be done algorithmically, depending on supply/demand. Some details will be revealed in an in-depth post/announcement that is coming soon.

4.Where do the team see Parsiq token sitting? Will they stay on the ethereum chain as an erc 20 or do they envision migration?

Currently, there are no plans to migrate to another chain. However, we are open to that in the future.

5.What is the situation regarding intellectual property rights to the project. I believe there is a lot open source but what protects you from someone just copying the platform and underpricing Parsiq with a copied product?

We have divided the PARSIQ technology into multiple parts. One will be open-sourced for the greater good of the community and will allow other developers to create integrations between the open-sourced parts of PARSIQ with various apps and dapps which will benefit the whole ecosystem. The other part will remain proprietary and PARSIQ will own all the IP.

6.Could you give a more detailed explanation of what will you do to increase liquidity in existing exchanges?

We are in active talks with market making companies to implement the correct strategy for providing liquidity on all official PRQ CEX listings.

7.December is finally here and in front of us — a lot of announcements this month! Could you at least say which week will you announce what?

Most of the announcements will be concentrated from mid-December to end of year. We have so many things in the pipeline that we will probably spread some of them over the month of January as well.

8.Not so long ago you posted some nice Parsiq numbers that you achieved ! Could you tell us what are your next milestones regarding smart triggers, clients, volume, registered users?

We are expecting exponential growth in terms of users and monitoring volumes, but even more important than those numbers is the goal to increase adoption. In addition to focusing on enterprises, we will be engaging the community of blockchain developers for them to leverage the platform and our language ParsiQL to solve real-world problems. There will be an announcement about an important innovation that we believe will get major traction from the developer community once it is implemented.

9.This year is about to end. What was — in your opinion — biggest Parsiq accomplishment in 2020?

There are a lot of things. Number of customers, users, clients. Platform usage growth. Growth of the product from a technological standpoint. The integrations and partnerships. But I would especially emphasize as accomplishments in 2020: our excellent team and our great community!

If you have questions about using PARSIQ you can always ask our team in TELEGRAM GROUP: https://t.me/parsiq_group

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