PARSIQ
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PARSIQ

PARSIQ Q&A #29

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

Dear community, it’s once again time for the Q&A!

Weekly Q&A

1- At the start of the month we had indications that the team would start moving more client payments onto the IQ protocol in the coming weeks. Any updates on how that is progressing/timings?

The process is ongoing, as planned. Both old and new clients’ fees are being added and will be over a period of time.

2- Can the team give any insight as to how Parsiq tech can work in conjunction with AI to extract / manipulate data beneficially for business?

The PARSIQ Platform is a place, the whole Blockchain data is flowing through. Machine Learning is for data analysis and building ready analytical models for businesses to power trading/investment decisions at first.

Also, it could be important at the Mempool Level for the most efficient Miner behavior predictions, thus better Mempool Tracking.

3- Are there any plans to integrate / partner with AI companies to leverage Parsiq’s specific Data related abilities?

Something like this is in our pipeline. We are currently gauging several AI projects that show promise and it’s definitely something we will be watching closely.

4- SOLANA WORMHOLE PROTOCOL — Is Parsiq one of the “Validators” OR “other system Stakeholders” mentioned in relation to their decentralised cross-chain oracles? And/or will they be involved with any attached Solana wallet systems integral to this protocol?

PARSIQ is currently not involved with building Wormhole, but we will utilize it in the future. Stay tuned.

5- When can we expect Borrowing to be live for the public?

By end of July.

6- How many customers are currently borrowing from the pool?,what % are you currently through adding clients funds into the borrowing pool?

Almost all the funds are currently being added manually as borrowing fees until public borrowing and IQ Subscriptions go into production. The process does not have a set deadline because new users are being onboarded as we go.

7- The current APY is almost half what was originally suggested. When will we see an increase to the 5% suggested?

We do expect periods of 5% or higher APY. However, it is important to understand that the APY is variable based on liquidity amount and borrowing demand. Furthermore, the borrowing fees are streaming into the pool at a non-linear rate. The APY will vary all the time.

8- There was talk of PARSIQ creating a Syrup pool on pancake swap when we launched on BSC, when can we expect that?

No hard date for this yet, still in consideration for various reasons.

9- How close are PARSIQ to gaining non-crypto clients leveraging their service? Last year we were hinted at by a large custodian, an automotive giant?

We are currently talking to multiple non-crypto companies about utilizing blockchain technology and integrating PARSIQ monitoring solution as part of this. Moving non-crypto companies to utilize a completely new type of infrastructure is not easy, nor is it quickly done. Blockchain technology is still young and there needs to be certainties for clients that the technology will actually fulfill their needs. It’s a technological hurdle that we are working on and as we gain experience in “converting” companies to utilize blockchain technology, it’ll create a much smoother transition for clients to follow.

10- Other projects focus on one service and deliver it immediately. With PARSIQ creating monitoring, Ncase, IQ, Public Projects all whilst developing ParsiQL, how are the team succeeding with progress without being spread too thin? Would it be better to concentrate on one service at a time?

Almost no project solely focused on a single task at a time, and with a team of +40 people, that would be poor utilization of our resources.

Usually the individual teams work on specific tasks that they have ownership over, with some borrowing from time to time, when we try to maximize our resources to the fullest.

As mentioned earlier, the IQ Protocol grew a lot bigger than we initially imagined and we even had to postpone its launch as a result of it. We’ve seen enormous interest in subscriptions as a service onchain and we will pursue this interest with a completely dedicated IQ team in the future.

As of this quarter, we’ve also seen an organizational change in the way we handle our roadmap. We are no longer “slaves” to hard deadlines for projects, which will give our developers the time they need to properly polish products before launching.

11- What are Anatolys & Toms thoughts on the current market situation?

Macro and long term extremely bullish. Adoption is growing, more capital and players are entering the market. Short- and mid-term uncertain.

12- What is the most exciting thing that the team has seen in crypto lately? What has stood out over the past few months

Besides the IQ Protocol you mean?

We’ve seen the birth of several next generation DEXs that utilize the new blockchains which are starting to see recognition, like Solana and BSC.
There is a race going on for delivering a perfect layer-2 solution that mitigates the current issues plaguing the Ethereum network.

13- Whats the current status for Public Projects?

In progress. First step we are working on are Smart Templates, pre-built Smart Trigger templates for specific use cases created by PARSIQ. Next step is letting all users create Smart Templates and putting them on a public marketplace.

14- A $10k buy on Pancake swap has a roughly 16% price impact, do you have any plans to improve liquidity on PCS? Given that the BOOST program is not available on BSC and most tokens that migrate onto BSC will naturally end up in IQ

Our first priority is Uniswap liquidity (we will be implementing improved liquidity on V3) and then we will be improving Pancakeswap liquidity before IQ Protocol integration with Pancakeswap DEX goes live (for allowing borrowers to pay in BUSD and other assets instead of only in PRQ).

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

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