IQ Protocol is a new product from the PARSIQ (PRQ) blockchain analytics platform team that will rethink the way the off-chain and on-chain worlds are now interfaced.
Blockchain-agnostic subscription solutions
PARSIQ (PRQ), a leading decentralized team focused on building interoperability protocols for interactions between off-chain and on-chain modules, released its IQ protocol to introduce the concept of subscriptions for blockchain-oriented businesses.
That is, through the IQ protocol, any business will be able to experiment with cancellation/refund policies, different timeframe considerations, consumption rate quotas, discounts, and other features in their subscription policies.
To achieve this goal, IQ Protocol implements the concept of PowerTokens. In the B2B system, PowerTokens are used as the unit of accounting for the use of resources, rather than the traditional tokenized currency.
Thus, every business can easily integrate IQ Protocol regardless of its stance on cryptocurrencies and blockchain.
IQ protocols for DeFi and NFT products
Since the IQ protocol was released in the midst of the DeFi and NFT boom, it has features that allow its customers to benefit from both segments.
PRQ tokens can be locked in through the IQ protocol, enabling holders to receive revenue from their shares. In addition, the PRQ token is accepted as a payment instrument by PARSIQ.
In the future, IQ Protocol will be able to create NFT leasing platforms. As with the cryptocurrency lending ecosystem, digital art enthusiasts will benefit from its tokens.