PARSIQ Q&A #18
Every Friday-ish PARSIQ team answers your most important questions. Join our Telegram chat to ask!
Thanks once again for a great round of questions from Bryan and the rest of the community. We hope you are enjoying your weekend so far 🚀
1a. Parsiq integrating with Injective protocol will allow a range of new features for traders. Will the trader have to hold X amount of PRQ or IQ token to unlock these features?
Holding PRQ or interaction with IQ Protocol will be essential for any usage of PARSIQ technology. We will reveal more details on this soon.
1b. Injective protocol also mentioned using the native PRQ token for derivatives etc, assuming INJ was using IQ tokens would the amount of IQ required increase as the INJ platform grows in demand and popularity?
If we understand the question as in increased usage of PARSIQ Technology is equal to increased demand for PRQ, then yes.
2. Will Parsiq be developing their own IOS/Android app wallet for storing PRQ and partnered tokens? Potentially linking to the webfaced portal for staking. Similar to Trust wallet but designed ground up by Parsiq.
No, we see no demand for doing this currently. We will however focus on different services for PRQ holders, stay tuned for the ideas to be shared with the community.
3. Any new improvements / status updates to IQ protocol you can share?
We are working on finalizing the technical documentation. Next steps are to write a general walkthrough of that documentation and release these to the community.
4.It was stated prior that IQ protocol is a priority & would be improved further along the way. Are the team going to stay mainly focused on current products or split evenly to pursue new ones. Anything you can give us on the most “left of field” application you may be pursuing?
Our current suite takes up all our developers time, when we increase the team we will be able to pursue new products.
5.Short/Medium marketing for non-blockchain companies, worthwhile or best to concentrate on blockchain mainly at present. Any breakup off blockchain vs non-blockchain clients at present?
We are slowly marketing to companies, but mostly by reaching out through our network — more on this shortly.
A high ninety percentile of clients are in crypto, but we count on these figures to shift going forward.
6.Recent partnerships with blockchain projects have been consistently announced. Will there be a similar surge of announcements with non-blockchain enterprises?
This is what we expect, yes. But it is important to note that non-blockchain enterprises move extremely slowly. So onboarding them will not be nearly as fast as onboarding crypto projects.
7.The DeFi projects that Parsiq are partnered with are using automated, programmable solutions. As AI moves into DeFi & evolves to intelligently learn from & improve existing processes will that be complimentary to Parsiqs current programming language or will Parsiq have to also adapt their protocol with it? Risks, benefits, general thoughts as to how AI may affect Parsiq?
If we take AI as machine learning then definitely it has already been affected by taking this point for consideration during the ParsiQL language design and the Platform development.
We have been thinking from the very beginning about the necessity to allow training models and use them from ParsiQL for predictions, labeling and others during the real-time monitoring.
Having that sort of computation possibilities off-chain via ParsiQL at the state of real-time can be of a high value for Users.
8. Is Parsiq familiar with OMI and the work they are doing with licensed properties for NFT’s and augmented reality? They are on the GO Network, but launching a wrapped ERC-20 coin on Uniswap on the 24th of March. Seeing as PRQ is chain agnostic, it feels like you two would be an excellent match and bring them a lot of value. Tracking collections… bridging tokens… the possibilities are endless. Any communication there yet?
We are familiar with OMI, but haven’t researched it deeply yet. But indeed, the use cases could be endless for such a collaboration.
9. As you’ve been progressing through a number of integrations and onboarding clients, has the process become easier with practice or is there enough uniqueness in each case to have their own set of challenges?
What has been the favourite integration from a development point of view?
Yes, we’ve learned a lot throughout these last few months and are confident that we will utilize our resources even better going forward. Solana was a very challenging integration, but with high potential because Solana is the fastest (in terms of TPS) blockchain in the world, made for enterprise-grade usage. We expect a lot of interesting developments for the PARSIQ-Solana integration down the road.