PARSIQ Q&A #19
Every Friday-ish PARSIQ team answers your most important questions. Join our Telegram chat to ask!
It’s time again for another community AMA. Thanks to Bryan for curating the questions and thanks for the community for participating!
1. Are there any information updates that the team can provide regarding collaboration/s with Polkadot or parachains?
Wait for April 😜
2. Regards to Uniswap V3, they have stated that “Liquidity positions are no longer fungible and are not represented as ERC20 tokens in the core protocol. Instead LP positions will be represented by NFT’s.” How will this affect PRQ staking/PRQBoost if at all?
We will have to see whether or not current pools are migrated or not. Either way, we support NFTs as well, so monitoring LP tokens or NFTs doesn’t make much difference for us.
3. Will Parsiq NFT’s be linked to Uniswap or other protocols in the future. Are you able at this time to provide any further information than the hints we have had already?
With new partnerships, there is the possibility that PARSIQ NFTs will unlock certain things in other ecosystems. Currently this is still very early though as we wait for SuperFarm to launch.
4. Uniswap have stated “Over time we expect increasingly sophisticated strategies to be tokenised making it possible for LP’s to participate while maintaining a passive user experience. This could include multi-positions, auto-rebalancing to concentrate around the market price, fee reinvestment, lending and more.” Will Parsiq have any involvement with Uniswap’s future plans, will this impact the Parsiq IQ protocol in any way, and if so how?
We are not currently involved with Uniswap, nor will anything Uniswap does have any impact on the IQ Protocol.
5. What do you think about providing an additional incentive for staking in IQ when it launches hopefully next month?
More on this soon. And we are contemplating a launch celebration.
6. regards to smart triggers, do you think this will be the key to making decentralized exchanges more trader friendly by allowing stop-limit order functionality for DEXS? How would a large DEX implementing such a feature utilizing parsiq affect the demand for the PRQ token?
A DEX could utilize PARSIQ’s technology to implement mentioned features(and many more) — that’s what Injective Protocol is planning to do.You simply monitor the pool with PARSIQ with enriched price data from an oracle like Chainlink and once a specific price is hit a trigger is pulled to execute an order in the DEXs internal system/smart contract.
7. While we’re all excited for what is coming soon, what are your expectations for the Public Projects Marketplace? Have you seen any interest already? What kind of interest do you expect?
We can’t wait to see what people will build on this. We’ve already been approached by several teams that want to build something for the public and some who even have working products now. It’s kind of like Lego. While the people at Lego have great imagination, getting the blocks in the hands of the world will lead to crazy things being built. With PARSIQ Public Projects, great projects just get rewarded. The better the use case, the more people will pay to use it.
8. Would you guys be able to run through a rough example of a working IQ protocol for lenders please? ie,l :
In theory if you owned 1% of the IQ pool consistently for 1 year and Parsiq created $100 million revenue, would you have made $1 million regardless of the value of the $PRQ token being 10c or $10
This is correct. If you consistently own 1% of the pool, you would receive 1% of the total revenue funneled through IQ.
9. NCase was announced 3 months ago, what’s happened with the product since that time?
We have deployed testing environments to a handful of clients, which are testing it currently. We are gathering data and are expanding usability based on feedback received from clients, as well as finishing building the Multi-Party Computation (MPC) layer. We expect to launch our first Ncase commercial version clients in Q2.
10. PRQ integrated with AAVE before the IQ protocol had been invented. Does anyone know whether the AAVE relationship will include IQ protocol. That would be big considering AAVE’s position in the crypto lending world
We will be reaching out to all our existing network once IQ is fully rolled out — currently we have companies in line to start using the protocol as soon as it’s ready.
11. Are we going to see more Non-Fungible Token Liquidity pool in the future? With Uniswap V3 coming they are implementing this kind of liquidity pool, is IQ protocol better or are they doing different things?
These are different things. You will know all the specifics and uniqueness of the IQ Protocol on the 31st when the technical paper will be released, as it is not quite like anything that exists in the industry.
12. Can you say where IQ protocol will be available from on launch ? ie, ethereum, coinmetro etc
Ethereum is a given, we are considering launching on Binance Smart Chain and/or Solana for the first round of networks for launch. An interface for CoinMetro should follow after launch.
AND BONUS QUESTION ( MOST OFTEN ASKED )
13. When moon ? ;)
We expect 2021 to be a stellar year for PARSIQ. We are on track to launching some big partnerships, heavyweight clients as well as token listings. And some major surprises that we are keeping close to the vest.