PARSIQ Q&A #6

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

🖖 Hey. Let’s see what we have this week. Once again, thanks to all of you and Bryan for the questions.

1. Do you need retail users/buyers to be profitable? Or would you be able to survive off of company payments (from the current and potential clients you have lined up)? I mean once Epoch 2 tokenomics gets launched, what percent of clients you expect to be retail/small businesses/individual devs vs enterprise clients?

In the foreseeable future, we still see corporate users as the main source of revenue. It has been so since the very beginning and we think this trend will continue, especially after we start onboarding large enterprises. With that being said, we have seen a healthy increase in B2C conversions from non-paying and paying users. Onboarding retail users does increase adoption, exposure and word-of-mouth.

2. Do you think you will be profitable by next year with the clients you have lined up?

I think we can reach profitability within next year. Unless we decide that aggressive (and costly) expansion is the better path in which case profitability may come later (but the scale of the company would be bigger). It depends on the market and what kind of traction we will generate.

3. With the partnership announcement next week, what can we expect? The term partnership is used often but what does it actually entail? What level of cooperation will it be? Is it an integration like you did with BSC and Dash for example or the relationship deeper? What will it look like?

We are working closely with that project. A partnership collaboration almost always involves an integration process because the main value is driven by joining the two technologies (as with other partnerships). The integration with that particular partner is already functional in our staging environment and we will release it for everyone to use. But similar to the Binance partnership, the relationship will be quite deep because in addition to the tech integration, we will be doing joint marketing including digital events, interviews, publications, developer presentations etc. That project is very big and has a large base of holders, users and builders that PARSIQ can tap into. Can’t say much more at this point, but we will be doing a joint live video AMA with that project in the week following the announcement.

4. You said a few times that you are preparing something bigger than what you are doing right now. Something that will connect off chain companies to blockchain. Will this new service be the “socks off news”? Will this be released in Q4? Can you say something about it or give us any hints as to what it might be or what kind of clients will use the service?

We have a lot of big things coming up, so I guess it depends what you are referring to. Those include, but are not limited to:

- Partnership with a top 10 project coming next week (as well as joint events with that partner)

- Announcement and commercial release of Binance Smart Chain integration, including joint PR, developer events with Binance

- A collaboration with one of the biggest DeFi protocols

- Partnerships with major layer 1 blockchain protocols

- Implementation and release of Epoch 2 (including O2 Protocol and Public Projects) Tokenomics in Q1 2021

- New product release (MVP version might be ready EOY, but full commercial release in 2021)

- Next year we plan to target and onboard corporations from the traditional world who are starting to utilize blockchain

Just to name a few…

5. What are your thoughts about PRQB? Are you happy how everything went? Is PRQB fulfilling its purpose as you envisioned?

PRQBOOST is an experiment, so there will be bumps in the road. Difficult to say what the future holds, but we think that after the LP Bonus Program Dashboard is live, the first few batches of rewards distributed, some will see the opportunity and this will make them consider becoming LPs, potentially increasing demand for PRQBOOST. But we will have to see as there are many variables at play.

6. Will you add more utility to PRQB? How are the rewards for PRQB going to be distributed for this first reward week? How long do you think the rewards program will go on for?

We have some ideas for additional PRQBOOST use cases, but nothing official yet. The first rewards will be distributed 1 week after the program started. We will re-evaluate whether and on what terms to continue the PRQBOOST program in 1 year.

7. What is the money from the Binance partnership going to be used for? Staff, product, advertising? PR is something the community feels needs more focus?

The funds are mostly for development, but we will be stepping up on the PR front as a whole. We are actively looking to expand the communications and marketing team.

8. Could we maybe get a video tour of the Parsiq office posted on your official YouTube Channel — so we can see where the magic happens? Get introduced to the team? Where does Anatoly sit?

That is a good idea. We will put it into the pipeline. We actually have two offices, one in Tallinn and one in Riga, so we might have to do 2 tours :)

9. Do you think the value of PRQ will go up even if there is no demand from retail traders due to the large demand the tokens will have from corporate clients? We know traders will want the tokens if large clients do, but knowing the size of the accounts/projects, do you think value will increase despite any influence from retail.

We cannot speculate on the value of PRQ. But we have corporate clients in the pipeline with quite serious monitoring and automation needs — so they will absolutely need PRQ to gain access to PARSIQ solution. As for retail demand, we think that will kick in once we launch Public Projects. Individuals will be able to directly monetize the Smart-Triggers they build on PARSIQ, but to create Public Project they will need to hold PRQ.

10. Community wanted to ask this question. Since it was brought up many times it is good to address it.

What are your thoughts on our whale who had 16M and now has about 4. He has stopped price movement since Parsiq started really growing. Do you think we will have enough good news to counter his influence in the market? What are your thoughts on situation when one wallet had 16% of circulating supply? He still has a big stack that is concerning for current holders

Again, cannot speculate on price or on the pre-sale investors’ actions, but we are very confident that no private sale or IEO buyer will act against his own interests regarding the future price of PRQ. PRQ has 6,497 holders in addition to those on centralized exchanges, and the number is growing day by day so we don’t see anyone with a large stack as a threat to the market.

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