Q2 $PRQ 2x Yield Boost Incentive

And Free $IQT Incentive!

PARSIQ

Published in

PARSIQ

4 min readMar 30, 2022

UPDATE: Click Here! to find the portal where you can claim your reward for Q2 $PRQ 2x Yield Boost Incentive.

Greetings PRQrew and Qties! 🖖

New quarter, next incentives!

Over the last six months, PARSIQ has been offering a series of incentives to those staking their tokens on IQ Protocol.

With nearly 60m $PRQ tokens staked, we continue to be overwhelmed by the support we have received from our community!

We want to continue to reward the kind of dedication we have seen from stakers, so…

We are extending our 2x Yield Boost Incentive (and the Free $IQT Incentive remains active) for those who stake $PRQ in IQ Protocol during Q2, 2022!

To learn how to stake $PRQ on IQ Protocol, see this $PRQ staking guide.

A quick update on previous incentives

Don’t forget, $PRQ stakers also qualify for free $IQT tokens! You can read more about that incentive, from IQ Protocol, here: How to Earn Free $IQT
1m $PRQ staking incentive (Q4, 2021): For those who took part in this incentive, the third portion of your reward tokens will be available on April 1st, at the same place as the first two. That claim portal can be found here!
2x Yield Boost Incentive (Q1, 2022): For those who took part in this incentive, your rewards were made available to you in full on May 1st. If you haven’t already, you can claim your rewards here!

Now, onto the details for the Q2 incentive…

How will the Q2 2x Yield Boost Incentive work?

For those already familiar with the Q1 incentive, the same stipulations from the that incentive apply. But in case you are new to staking $PRQ, or just don’t recall what those stipulations were, let us remind you:

The basic premise is simple: just stake your $PRQ from April 1, 2022 until June 30, 2022 on IQ Protocol, and PARSIQ will double all of the returns you get from staking!

If you already have your tokens staked prior to April 1st, then no further action is required to qualify for this incentive — simply leave your tokens staked!

But there is one catch!

Please note that withdrawing any amount of your deposit during Q2 quarter will invalidate the additional yield boost gained up until the point of your withdrawal. (You are free, however, to withdraw any of the interest that you have earned during this period without invalidating the yield boost you have gained.)

To make sure this is clear, let’s use an example…

Our good friend Mitch decides to stake his 1m $PRQ on April 1st.
However, on April 20th, he realizes that he needs to withdraw a portion of his $PRQ from the staking pool. This is totally fine, as Mitch knows best about his own particular situation.
So, he removes 100,000 $PRQ from IQ Protocol, leaving the other 900,000 $PRQ tokens remaining in the staking pool.
In this case, Mitch will receive the regular interest that his 1m $PRQ have accrued between April 1st and April 20th; but he will be forfeiting the 2x yield boost that he would have qualified for during that period had he not withdrawn any of his $PRQ tokens.
Moving forward, his 900,000 $PRQ will remain accruing the regular interest that they generate, and these tokens will restart the process of qualifying for the 2x yield boost.

So, again, the important point to remember is that withdrawing any amount of your deposit during Q2 quarter will invalidate the additional yield boost gained up until the point of your withdrawal.

But what if I add to my deposit of staked $PRQ?

Good question. And the answer is that you are free to add to your deposit without interrupting the additional yield boost at all!

Let’s consider our friend Mitch again…

Two weeks later, on May 4th, Mitch decides to re-stake the 100,000 $PRQ he had removed on May 20th.
In this case, the 900,000 $PRQ that had remained will have been accruing interest and will qualify for the 2x yield boost. And once he has added the additional 100,000 $PRQ, all 1m of his $PRQ will be accruing interest and qualifying for the 2x yield boost.

So, the staking system works just as it always has: you are free to stake and withdraw your PRQ tokens whenever you see fit. However, withdrawing your tokens at any time will cause you to forfeit the bonus yield that you would have accumulated up to that point. You can, however, add tokens to your staking position at any time.

Once again, thank you all for your support!

About PARSIQ

PARSIQ is a full-suite data network for building the backend of all Web3 dApps & protocols. The Tsunami API, which will ship in July 2022, will provide blockchain protocols and their clients (e.g. protocol-oriented dApps) with real-time data and historical data querying abilities.