Published in



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

This week we are joined by our CEO, Tom Tirman who will be answering questions live in the TG:

Hi everyone! Hope you are all having a great Friday! Happy to answer any questions about IQ Protocol and PARSIQ in general.

Will start with the ones Daniel just posted.

What is the plans for the tokens that are supposed to be burned? Will there be an official announcement showing that these coins have been sent to a burn address and are irretrievable and therefore removed from total supply?

There will be an official announcement regarding this. I think most of the community will be very pleased.

Could parsiq build an almost real time delta/blockfolio/gecko? Or is this not possible due to the response time on api calls?

One can absolutely build something like this on PARSIQ. That’s actually a great idea for the hackathon we are planning to host. Main prize could be for building this type of tool.

Over a week into the IQ test net, has it passed all the stress tests so far or have issues been highlighted to be corrected?

Still in progress, the models are complex — after all, no one has really anything quite like this before to my knowledge. But everything is going well. Very excited for IQ Protocol mainnet. We’ve had so much positive feedback from partners and investors and industry leaders regarding IQ Protocol. Some even suggested IQ Protocol feels bigger than PARSIQ itself, but I’m not sure I agree ;)

Is there a difference between how @parsiq_net “pull” the data off the blockchain compared to The Graph?

The Graph — indexes transactions that have happened and puts them into a database, then allows developers to query that data from the indexed database (pull historical data).

PARSIQ — sees everything that’s going on across different chains (including events that are not even visible from the blockchain directly) at the earliest possible level (mempool or any confirmation level) and allows you to process that data according to your logic (filter/map/compute/transform) and push it to the user in real time to trigger off-chain actions.

These are different technological approaches. Each has certain use cases. But processing live streams events is an approach that is gaining serious momentum in IT (not just blockchain and PARSIQ will also allow processing events from off-chain sources).

Although retrospective smart triggers road map was planned for Q3, has @parsiq_net been motivated by enquires/demand to bring this feature forward?

This is exactly why we pushed it live even at just MVP stage — clients had use cases that required retrieving balances at various points of time. Now the array of use cases for PARSIQ is even wider.

More liquidity is always better and most projects have some kind of liquidity program while they wait for CEX listings. We have boost, but some projects will partner with another project for liquidity mining. Have you ever considered approaching Sushi or 1 inch to set up a liquidity mining program? This was we can incentivize LP’s with sushi/1 inch tokens. Are there any other projects you’ve considered partnering up for this purpose?

Insert “Just wait…” gif

will you be integrating terra anytime soon? Tom mentioned it was his favorite project

We will be integrating Terra for sure, we have a good relationship with Terra team, but no promises on the timeline as we’re absolutely swamped. The pipeline will take some time to work through. So many things going live before Terra.

I am aware IQ protocol service users will borrow tokens with an expiry timeframe which will keep the revenue stream moving within SAAS parameters, how will market buying and holding PRQ be comparable for service users? Will this mean lifetime service usage as long as buyers hold? Will there be an expiry on market bought tokens as there is on borrowed within the IQ platform? Can you explain how this will work and be monitored?

Buying and holding indeed lifetime access. But we expect most corporate and enterprise clients to borrow because not every company wants to have a large amount of an asset on the balance sheet that can be volatile. Which is fine, because that means, someone will be purchasing from the market to provide that liquidity via IQ Protocol for the clients to borrow.

Where do you see Parsiq in five/ten years? Just for fun :)

I think long term PARSIQ won’t be seen as a strictly blockchain project, but something that can bridge all systems and networks, centralized and decentralized, to be the middleware infrastructure standard.

In terms of value that PARSIQ can capture (even mid-term) for all participants as infrastructure glue, I think it could be potentially be as big or at least proportionate to the underlying blockchain protocols (eg. Ethereum) themselves.

Tom the fee yo use parsiq will be on PRQ or in USD (later converted to PRQ). I mean, if the token value rise, the fee to use parsiq services will rise too?

The fee will actually be variable. Think like Uniswap pools. Each subsequent swap changes the price up or down and amount of liquidity also plays a role. That is called AMM — automated market maker.

And just like Uniswap, the IQ Protocol renting pools will be based on the bonding curve principle. It will be AIRD — automatic interest rate discovery. Each new borrow will affect the APY rate, but amount of liquidity plays a role.

More details in IQ Protocol paper Part II this month.

do you think that IQ protocol is simply the perfect tool for SaaS DEFI that, in a sense, renders all other protocol obsolete ( for crypto)?

It is quite unique since it basically introduces the concept of decentralized subscriptions as assets. I think we will so much innovation in the SaaS space and hopefully IQ Protocol will be in the midst of that innovation.

Have any other SaaS companies been interested in using the IQ protocol model? How will this benefit Parsiq

Yes, but currently only crypto companies. We will start with them. But we think much bigger. Think news or media subscriptions, streaming subscriptions etc.

How will this benefit PARSIQ?

For one, the projects who use IQ Protocol will require monitoring (to know about when and how the clients hold or borrow and what they are eligible for, to automate all these internal processes). So they all will be PARSIQ clients.

Are there any known minimal stacks for stakimg in IQ?

No minimal amount required.

Whats your favourite caffeinated beverage? Tea? Coffee? Energy Drinks? (and how do you like it? Black Coffee, Redbull no sugar etc?

Black coffee for sure.

who of the team would you take with you to live on an empty island and why

I would take them all. The team works as well as it does as one unified collective.

How’s the process regarding hiring new people / expanding the team going?

Going pretty well. But off the mark we’re aiming for. It takes time.

Tom, great answers, can you explain where Parsiq will take revenue for running costs and profit? Will it be from IQ or have you other revenue streams you intend to use?

We will have different revenue streams. For example, we reserve the right to participate in the IQ Protocol pool (and earn APY) in certain capacity to help maintain equilibrium using the tokens in the Reserves wallet. These tokens are not for liquidating on the market or for paying any exchanges or marketers with them. They are strictly for participation at certain times in certain amounts.

Hey Tom, interesting answers so far. Do you have any information yet on which chain / chains IQ protocol will be launching on?

Ethereum, of course. But we are also considering one of the following: Binance Smart Chain, Solana, NEAR.

what’s the latest in terms of non-crypto / traditional organisations?

Still ongoing. We’re making real progress with one of the big ones. But they move slowly.

Regarding tradition organisations, you’ll see some exciting news about them and PARSIQ this quarter. Not exactly clients, though.

Tom, could you reveal your community something you haven’t announced yet? Some awesome news ? Or partnership? Or anything ? 😁 Just for us here in this channel

I would love to, but you know I can’t. These types of big events require alignment with other participants, preparation for media announcements etc. Otherwise, they will not have the same effect on awareness if I just drop them here beforehand.

But I tried to give bits and pieces during this AMA.

But rest assured, this quarter is easily the most packed for important milestones and big events.

That’s it, everyone. Thank you so much for the amazing questions.

Next time, me and Anatoly will be a joint video AMA, so the deeper technical questions could also be answered.




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

Recommended from Medium

What is Crowd Created Canvas?

Signalling as a Blockchain Primitive

WECAN is applying to be a WAX Block Producer

HumanAI Update April 2018

Introducing Meson : the boundless freeway for cross-chain stablecoins movements

IELE’s gas model?

Randomness on Blockchain: Theoretical obstacles and practical solutions

Meet our new hire — Felipe Lencastre, Human Resources

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store


Go-to backend for web3 applications 🌊

More from Medium

Thank you community! CTSI is Now Listed on Bancor.


Celebrating $1B Astar TVL!

Community Member of the Month, January 2022