PARSIQ
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PARSIQ Q&A #12

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

Thanks for the awesome questions from the community, we love to see the engagement!

1. Any possibility for a hybrid staking model with regards to what tokens may be staked, EG: Half of staking benefits (interest) get paid out in BTC and/or ETH as a constant fixed portion (Voted yearly) and then the other half of the staking interest gets voted on by the community at regular intervals as to what other token we use?

We will write this idea down to discuss internally. It is possible. Also, keep in mind, a number of other projects and organizations will be using the IQ Protocol for other lending of different assets including BTC and the reward currencies will be various. We are already seeing interest regarding IQ Protocol from other teams, DeFi investment funds, even traditional financial organizations and government entities. Stay tuned for more updates later this year.

2. With regards to compliance/auditing, would it be possible to integrate into the Tokenomics model the data of the interest being paid out to users in some form of excel/CSV file for tax reporting. Different users will be taking out different amounts at different times. If there was some downloadable/reportable aspect that could be provided for accounting it would be awesome. Would it be possible?

This is in the pipeline. Perhaps not at the very launch but as fast as we can implement it.

3.How does parsiq protect itself from bad actors taking control of the freezing function? Is this even possible?

We can’t divulge our exact security protocols as that would in itself compromise them. High level explanation is that it’s a multisig distributed on several hands, different places in the world.

4.To build a layer 2 wallet system like Ncase, presumably it’s integral to have the whole monitoring infrastructure in place to work alongside it, would this make it difficult for a potential competitor such as BitGo to create their own layer 2 system? Which they will presumably try to do themselves once they’ve seen what Ncase can do.

Of course, the integration of our cutting edge monitoring platform is a huge advantage for the Ncase product and yes, replicating it would be hard.

5.In last AMA Anatoly said that Parsiq’s goal is to rule crypto. Can you elaborate on that? What is Anatoly’s vision and how has it changed as he has continued to work on it?

Anatoly means that PARSIQ will be integral to all the major projects in the space, because they can all benefit from what PARSIQ has to offer, in terms of real-time insights and data stream processing. Knowledge is power.

6.What are the 3 main goals that Parsiq wants to achieve in 2021?

Mass adoption with all the top projects out there, along with all layer 1 blockchains.

The launch and sharing of the IQ Protocol with our colleagues in the crypto space.

Scale the company to meet current demand and that of the future.

7 There was a lot of confusion about listings in the last few days. Could you at least say how far from biggest listings Parsiq is on this scale:

1.Far

2.Soon

3.Very soon

:)

Due to the nature of listings, signing of NDA’s etc, we can’t disclose much other than to say that we are working on it, as it has been part of our strategy this whole time.

8.What does Anatoly think about Quant Network ? Their approach to solve interoperability in comparison to parsiq.

PARSIQ team holds Quant Network in high regard. Anatoly is currently swamped with work, so let’s ask him his thoughts during the next live video AMA which will be announced soon enough.

9.Will the team help with low liquidity before token unlock will start in february?

The token unlock shouldn’t be an issue whatsoever.

10.What issues is the team facing right now in development?

We need to scale, massively. We are trying our best to find the top people that can carry us into the next phase, which is massive adoption from all the good projects out there. As mentioned before, we are seeing an unprecedented interest in PARSIQ and our technology to be implemented into so many projects, and we are working hard to deliver and onboard in a timely manner.

11.You mentioned you would need to get everything peer reviewed and audited. The q1 protocol is scheduled to be released by March. Have you finished all the modeling for the protocol and submitted it yet? How do you guys feel about it? How have things changed from when you originally developed the idea?

The IQ Protocol is getting both a traditional audit of the contract and its features, but also an economical audit, to ensure all our projections are true.

We are doing our very best to make sure that the IQ Protocol launches on schedule. Currently we are finishing up our technical documentation alongside with writing the Protocol.

Some things have changed, but the core idea remains the same. What we’ve had to do was think on an even bigger scale, with interest being shown from 3rd parties.

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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Full-suite data network used to build the backend for all web3 dApps & protocols.

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