PARSIQ’s 2021: Year in Rewind
Happy New Year, everyone!
It’s hard to believe that we are already at the beginning of 2022. From the looks of it, this year is already shaping up to be one full of growth, hard work, and — most especially — excitement for PARSIQ. We can’t wait to share our progress as we step into the new year, all of which will come in due time. However, now that 2021 is behind us, we wanted to take a moment to reflect on what it contained in terms of development and progress.
But before we review the year, we wanted to thank everyone for the support that’s been shown to PARSIQ this past year. We have added an impressive amount of new people to our community this year! For example, at the start of the year we had 7,765 followers on Twitter, which now pales in comparison to the more than 41K followers we had at the close of the year (our Telegram channels have also shown a consistent increase in members as well!). So, to all those who joined in the PARSIQ vision this year: many, many thanks! And, to those who supported us even before 2021: many, many thanks as well! PARSIQ does not operate in isolation, so our hearts go out to you all.
Now…. on to the year-in-review!
Q1: January — March
We started of 2021 strong, with several partnerships and integrations. The list includes: Aave, Solana, Huobi ECO Chain, Injective Protocol, PAID Network, Balancer, SuperFarm, iMe Messenger & Crypto Wallet, DeXe Network, and AcedBets.
In addition to expanding our ecosystem, we also began to seriously expand our team, bringing in some very talented new members. During these months, we hired three developers and a new head of Business Development (Tom Matta). Since this time, we’ve only continued to grow (and there is no sign of stopping!).
Another important development during the first quarter was the rebalancing of the PRQ token. Originally, we had placed over 150 million PRQ tokens that did not sell during our ICO in a retention wallet, awaiting the legal approval to burn them. At the beginning of this year, we added a further 38 million tokens to that retention wallet, with the intent to burn all 189,743,128 PRQ tokens. We did this in order to balance out the fact that we did not sell the intended 250 million PRQ in the IEO.
We also made great strides in the creation of our IQ Protocol. The origin of IQ Protocol is interesting. It was initially proposed by Anatoly Ressin (our Chief Blockchain Architect) in November of 2020. He conceived of it as a way to better align the interests of token holders with those of utility users. And indeed, it is thanks to IQ Protocol that PRQ now sits at the heart of the PARSIQ platform, providing access to our services. However, in solving this problem, the team recognized that IQ Protocol had the potential to become something much more revolutionary than just another tool in PARSIQ’s belt. Instead, what we introduced was the world’s first decentralized SaaS. Now, other projects can utilize the platform to solve their own tokenomics, utility, and service models.
Q2: April — June
Much of the momentum that built up during Q1 carried us into Q2. During this quarter the final touches were put on IQ Protocol, and it went live in June! In conjunction with this, we expanded our PRQ token, rendering it compatible not just with ETH but also with BSC. Thus, it became available for purchase on PancakeSwap.
Q2 had even more partnerships and integrations than Q1! The list of projects we work with grew to include: Mysterium, Metis, Rangers Protocol, Bird.Money, Uno Re, Gero Wallet, Plethori, Relite, Shyft,Autonio, Clover, Polkadot, Shield Finance, and Chainlink Price feeds on BSC.
Beyond our partnerships and integrations, we also successfully secured $3 million in a funding round led by the Solana Foundation and Axia8 Ventures. But the funding wasn’t the end of it! Alongside this funding round, we welcomed Evan Cheng and Wayne Lin to PARSIQ as strategic advisors in our operations.
Oh… and remember that retention wallet we mentioned above — the one with over 187 million PRQ tokens? Well, come June, we were able to carry out the token burn. What a bonfire it was!
Q3: July — September
Ah, Q3… the Summer lulls, begins to end; Fall stands waiting, just around the corner; things finally begin to slow down — wait, slow down? What are we talking about!? That’s not what PARSIQ did!
For one thing, we introduced our ABI decoder. While the name might not sound very exciting to many, what it makes possible is a true advance for the PARSIQ platform and its users. Essentially, it allows for user defined streams, where users can import custom contracts onto the PARSIQ platform and define exactly — be they simple or advanced — the kinds of events they want monitored. No longer do PARSIQ’s developers have to be involved with every integration for projects wanting to utilize our Smart Triggers. Now, whether basic or strategic, the events and actions that PARSIQ empowers will further bring blockchain technology to life.
Moreover, our list of partners and integrations kept moving, steadily ahead, now including the likes of Coreto, Solster, ParaState, Yin Finance, WePiggy, DAGG, Elrond, MatrixETF, Tribeone, Pandora, Reef, and Drops.
We kept pace, too, on the community front. On the one hand, we introduced our new COO, Rong Kai Wong, and a new strategic advisor (Deanna Dong). On the other hand, we also launched PARSIQ SWARM, our community-based initiative to inspire growth and creativity among our token holders. Finally, we launched a $1m PRQ incentive to reward those in our community who took advantage of staking their PRQ on the new IQ Protocol.
Q4: October — December
Alas, we now come to the final quarter of the year. But, yet again, PARSIQ was full of activity!
The groundwork we set in Q3 — with SWARM and the $1m PRQ incentive — proved itself to be a huge success. As a result of the $1m PRQ incentive, we saw more than a 400% increase in the liquidity being provided on IQ Protocol in the form of PRQ. And when it comes to SWARM activity, we were so impressed with the first round of applicants that we opened a second round of applications! And, in fact, mixed in with our other newly hired team members, a few new hires came from SWARM itself.
We weren’t short on partnerships and integrations either! We began by announcing our status as an Amazon AWS Technology Partner, and continued forwards, establishing strategic connections with Babylon Finance, Clearpool, SupraOracles, NFTGO, Ariadne, and important integrations with Polygon and OpenSea.
Moreover, in terms of platform development, we launched TRACKR. TRACKR is a ready-to-setup security solution aimed to help thwart, or mitigate, hacking attempts. There are two aspects to TRACKR. On the one hand, it utilizes our real-time monitoring in order to proactively detect any unauthorized transactions on the blockchain; and on the other — if an attack or hack were to occur — it allows users to retroactively track the entire the trail the assets took, providing important information about exactly where the hacked assets were sent. Security is a central element of PARSIQ expertise, and TRACKR makes it easier than ever for customers to feel secure, no matter their custom needs.
Despite all of this hard work, we also managed to have some fun with our community! We got some great exposure and made connections when we attended the TOKEN2049 conference in London and the Solana Breakpoint conference in Lisbon; we were provided a first-hand look at what some developers were able to create using ParsiQL in our Gitcoin hackathon (with some impressive results!); and we got creative, goofed around, and gave our prizes with our Meme Contest and the #12DaysofPARSIQ holiday giveaway campaign!
And to top it all off, we closed the year by not only launching our newly updated website, but also by introducing a new, 2x Yield Boost incentive for PRQ stakers on IQ Protocol, as well as an incentive offering free IQT (the future IQ Protocol Governance Token). So, don’t miss out on these rewards in the days ahead!
What a year it has been!
Once again, we thank you for your continued support, and we can’t wait to share in what 2022 has to offer!