PARSIQ - Everything you need to know about PRQ Token

In this article, we would like to introduce PARSIQ known as a Web3 data platform. We'll be covering the following topics:

• What is PARSIQ? How does PARSIQ work?
• PRQ Tokenomics and How/Where to earn and store PRQ tokens?
• Roadmap & Updates.
• Team members, Investors, and Strategic Partners.

Let's explore the potential of PRQ!

What is PARSIQ?

PARSIQ is a Web3 data platform that helps build functionality on top of blockchain data. 

With PARSIQ you can connect blockchain activity to off-chain apps and devices, monitor and secure DeFi applications, build custom event triggers, and power real-time automation.

PARSIQ serves for a variety of use cases:

• Build user notification: Deliver real-time alerts to users when relevant activities occur. 
• Expand product functionality: Build capabilities on top of blockchain data without writing custom code. 
• Manage risk: Instantly detect risky transactions and blacklisted accounts.

How does PARSIQ work?

Behind each of Parsiq's products is a specific processing subsystem of the platform.

PARSIQ, like other automation tools like Zapier, allows users to start multiple workflows or receive notifications if and when a specific event occurs.

This logic can currently be defined for the following blockchains: Bitcoin, Ethereum, Binance Smart Chain (BSC), Dash, Algorand, Celo, Huobi Eco Chain, Solana, Polkadot.

"If-This-Then-That" workflows for blockchains

One of PARSIQ's core concepts is Smart-Triggers, which can be thought of as a workflow that runs when a certain Blockchain Activity happens in a certain manner.

Smart-Trigger takes in input events, processes them according to your logic, and then produces intermediate or output events as necessary. The user can take all of this into account and program the Smart-Trigger using the ParsiQL language after specifying what is vital to monitor and other tightly related information in the datasets.

Real-time notifications via PARSIQ’s Quick Monitoring Wizard

In the Quick Monitoring Wizard, you can enter a blockchain address to monitor, add custom characteristics like risk score, and then choose the delivery channel to be notified through. Wizard essentially writes the ParsiQL code for you.

For instance, users may establish real-time notifications for Algorand Native Assets transactions in only a few clicks, allowing them to get information directly to their apps like Telegram or Google Sheets with value-adding data.

What is the Parsiq token?

The PRQ token is at the core of the PARSIQ ecosystem, providing access to all PARSIQ services and tools.

Detailed information about PRQ Token

PRQ Key Metrics

• Token Name: PARSIQ Token.
• Ticker: PRQ.
• Blockchain: Ethereum.
• Token Standard: ERC20, BEP20.
• Contract - ERC20: 0x362bc847a3a9637d3af6624eec853618a43ed7d2.
• Contract - BEP20: 0xd21d29b38374528675c34936bf7d5dd693d2a577.
• Token type: Utility.
• Total Supply: 310,256,872 PRQ.
• Circulating Supply: 142,923,482 PRQ (45.8% of the total supply).

PRQ Token Allocation

• Private, IEO: 41.1%.
• Reserve Fund: 35.8%.
• Development: 12.5%.
• Advisors: 5.3%.
• Team: 5.3%.

PRQ Token Release Schedule

Team & Advisor Pool will be released 1.4 million PRQ per month and the reserve fund will be locked for 5 years.

PRQ Token Sales

PARSIQ successfully raised 1,595,000 EUR through a private sale (0.0175 EUR) and an IEO on Coinmetro.com (0.025 EUR or 0.0276 USD) with 250,000,000 total tokens offered.

PRQ Token Use Cases

The PRQ token is at the core of the PARSIQ ecosystem, providing access to all PARSIQ services and tools. Where PARSIQ’s infrastructure is required, the PRQ token is needed.

How to get PRQ Token

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How to buy PARSIQ Token 

You can buy PRQ on listed exchanges such as:

• DEX: Uniswap, PancakeSwap... 
• CEX: Gate.io, KuCoin... 

Alternatively, you can use Coin98 Exchange to swap other tokens for PRQ by clicking the Swap button at the end of the article.

Learn more: How to use Coin98 Exchange

How to store PRQ Token

You can store PRQ on Coin98 Super App with these steps:

Step 1: Open Coin98 Super App & click Search Icon on the home screen.

Step 2: Search PRQ Token.

Step 3: Click on the correct result at Receive Tab, copy the wallet address and send PRQ to this address.

PARSIQ Roadmap

They have done a lot on their roadmap. ParsiQL 1.0, Layer 1 blockchain integrations, IQ Protocol V1 Mainnet Beta, PRQ Tokenomics 2.0 & Parsiq Coin Burn are some of the notable things they've done in the past.

In the future, PARSIQ will focus on developing its roadmap according to the following products.

• New Portal UI/UX.
• ParsiQL 2.0.
• Smart Templates: Pre-built Smart Triggers for specific use cases.
• Retrospective Smart Triggers: Indexing of historical blockchain data for querying and analysis.
• Marketplace for Public Smart Triggers.
• IQ Protocol V2.
• A public database of labeled addresses (monitoring targets).
• Reverse Triggers: On-chain transfers triggered by on-chain or off-chain events.
• Layer 1 and Layer 2 blockchain integrations, DeFi integrations, data provider integrations, apps, and delivery channels integrations.

Team, Investors, and Partners

Team 

• Anatoly Ressin (Co-Founder/Chief Blockchain Architect): Founder of Blockvis, has been involved in the development of Civic & Deloitte blockchain solutions .20+ Years of Experience.
• Tom Triman (Co-Founder/CEO): Banking institutions & Fintech company’s experience.
• Alan Durnev (CTO): Blockchain enthusiast, known as ‘Ethereum Guru’, 6+ years experience in large-scale enterprise solutions.

Investors

PARSIQ Secured $3 Million in Funding Round in June 2021. The round was backed by Solana Foundation and Axia8 Ventures, with additional participation from Mindworks VC, Krypital Group, CoinUnited, Transfero Swiss, Elevate Ventures, Sanctum Ventures, and others.

Partners

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Is PARSIQ (PRQ) a good investment?

The use case of PARSIQ extends not only to the on-chain blockchain but also to the off-chain universe. PARSIQ has a tool that keeps an eye on and processes data from the blockchain.

Data, a critical component of advanced technologies, is king in the 21st century. PARSIQ is a strong automation Web3 platform that has the potential to change the way people work and receive real-time data.

Many investors are interested in the term "Web3", there has been a large number of investment funds pouring in recently. PARSIQ is a pioneer in this field.

But generally, I recommend instead of “investing much in crypto”, invest your time in gaining knowledge in the domain to distinguish great tech from crap. This is the best investment, which I believe will make you rich and prosperous.

Disclaimer: All the information in this article is only for information purposes and should NOT be considered investment advice. Investing in Crypto contains hugely high risks, and you should only invest the fund you are willing to lose.

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Conclusion

So I have provided you with the latest information from PARSIQ and PRQ Token. If you're interested in other projects besides PARSIQ, please leave a comment below. Coin98 will research the projects and publish articles about them.

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