PARSIQ Q&A #31
Every Friday-ish PARSIQ team answers your most important questions. Join our Telegram chat to ask!
It’s time once again for a round of questions and answers with our awesome community!
1- The New hot trend is NFT based games, we know superfarm wanted to create something with nfts and parsiq is/was going to help.
Is it being discussed or is there any package or service prq could offer to all those new games popping up left and right? I think parsiq can help those a lot.
We are talking to several new projects in this space and yes we are looking at creating a “targeted” service offer to use specifically for NFT gaming projects. Also, we are considering an integration with one of the biggest NFT platforms in the space.
2- Question for the big brains. I’ve been digging into Quant abit more recently trying to understand what Overledger actually does. It seems that one of its main features is interoperability between multiple blockchains and with traditional finance systems. Through Overledger one is able to transact between blockchains, an example used was ‘Bob pays X Bitcoin to Alice only if Alice pays Y ETH to Bob’. Through Overledger they are able to carry out this function automatically, bridging between the two blockchains. Would this feature compete directly with Parsiqs smart trigger services? And since Overledger can connect blockchains to traditional systems, wouldnt this also undermine the need for Parsiqs smart triggers or would it bolster it?
The description is basically a crosschain swap, PARSIQ Technology could be used for this in the future, but that is merely one use case out of …. well we don’t know how many. We are creating a true If This Then That solution, to work across different chains, and offchain to onchain and vice versa as well.
3- Can we get a “brain map” of the team right now? Hard roadmaps have been done away with but what are the team’s priorities and focuses on, and is there anything new not on the roadmap to look forward to? be it new features, scope changes, different paths,
Currently we are focused on what is on the previous roadmap link: https://parsiq.net/en/roadmap
We do have a product update coming that isn’t in the roadmap, we will share that shortly.
We are finetuning our focus for our targets and the experience we’ve gained within 2021 has definitely opened our eyes to different things, as well as some of our newly onboarded talents, that are helping us focus the business further.
Our onboarding spending is climbing, and so is our marketing spends.
New job listings are going up yet again as we look for new talents to join our rapidly growing team — we’ll share with the community shortly, so you’ll have a chance to help share it.
4- Can the team provide some insight on the requirements to establish a partnership agreement with Parsiq? Has the team established LOI’s (binding or non-binding) with our partners? If so, why not publish them to increase transparency for investors similar to SEC requirements for companies trading on the NYSE
There is no purpose in that. The purpose of partnerships is to leverage each other’s technology for the benefit of the users and ecosystem as a whole and create value. The goal is results, not just pieces of paper.
5- Any plans for PRQBoost migration for iq protocol or PCS liq providing? i think it’s in order. Can we also get the update for when liquidity will be added, 3 weeks and still non added.
We are looking at V3 for Uniswap for improved liquidity. Pancakeswap liquidity will also be increased right before the borrowing fees swapping function goes live.
6- Will Hex Trust go into IQ?
We haven’t talked with them about IQ. They don’t have a token and are focused on B2B, so that’s a longer talk.
7- If the London fork is successful and fees are lower, will the progress to get IQ on Ethereum speed up?
The London fork isn’t about lowering fees, it’s about helping users know fees in advance, and have a lower base fee.
From Metamask’s article on EIP-1559:
“EIP-1559 will change Ethereum’s market mechanisms to pay for transaction fees. Fundamentally, EIP-1559 gets rid of the first-price auction and replaces it with a fixed-price sale. The significance of this change is that people submitting transactions won’t have to guess as much about how much gas is required, as there will be an explicitly ‘base fee’ to be included in the next block. For users or applications that want to prioritize their transaction, they can add a “tip” to pay a miner.”
IQ will be launched on Ethereum, but we might see about getting around the fees aspect of things.
8- Will the next release of IQ have the current APY display versus trying to guess it?
APY is different for each user/participant, but yes, we are working on an upgraded dashboard.
9- What will Evan Cheng work on?
Evan Cheng is helping us with many technical and product related aspects. He will also play a role in the rollout of the new ParsiQL language. Stay tuned for further updates.
10- The Real Time Data space is starting to become quite busy with competitors, what is parsiq doing to stay ahead of the competition?
Competitors popping up shows us that we had the right idea from the beginning. We think competition is healthy and we are starting to see questions on what differentiates us and the answer is that we have a lot of experience delivering data, also at scale, and the strong foundation we built in ParsiQL and with the upcoming version 2.0 of our language, will set us far apart from competitor as it will enable our users to build, well, pretty much anything on top of the PARSIQ platform.
One of our goals is to become a complete IFTTT platform for onchain to offchain, vice versa and onchain to onchain(and crosschain) if need be, so if you want something to happen on the back of an event, whether it’s a legacy financial system offchain that triggers an action onchain or it’s a DEX dollar cost average option, where you can attach a wallet and swap asset A into asset B when price of either hits predefined targets. There are so many use cases that we probably haven’t even reached 1% of the possibilities in just talking internally about this. We believe this tool is so powerful, that if we can get this in the hands of talented devs out there, they will build amazing services on top of that.
11- Every company has expected projected growth, What does PARSIQ see regarding its Revenue estimates & Market Cap Estimation by 2022.
Commenting on market cap estimates is almost like throwing a dice, because even though we do good and have been showing growth since launch, the market cap is still aligned with the rest of the market, so if the overall market swings down, so do we. With IQ and our tokenomics going live, hopefully that will help us detach a bit more from the bigger swings, as tokens will be used for services on the platform, regardless of what the market is otherwise doing. As for revenue, the goal is still low 7 figures by EOY and tripling it YoY.
As Rossi had teased, we will be changing how we do our Weekly AMA’s. We want to interact with our community in the best possible way.
We will start Live Streaming AMA’s via PARSIQs YouTube channel. Tom Tirman will be hosting them every 2 weeks, with guests from time to time from the PARSIQ team and our Advisors!
Our first will be with Tom Tirman at 14:00 UTC 19th of August! Make sure you tune in!
