Grayscale estimates that the Web3 metaverse sector will have $ 1 trillion in annual revenue in the near future. It will challenge Web2 projects with a total capitalization of $ 15 trillion.
Company PARSIQ develops a platform of the same name that unites these segments. We talk about PARSIQ and show a real case of working with the platform using the example of CryptoPunks.
about the project
PARSIQ was founded in 2018. It was created by former banker Tom Tyrman, cyber security specialist Andre Kalinovski and blockchain solutions developer for Deloitte Anatoly Ressin as a blockchain solution provider in Latvia.
“We faced the same problems in different projects: most of the networks were disparate data stores that are difficult for third-party services to interact with. We decided to create one reliable and flexible solution instead of designing bridges every time, ”says the project team.
It is a platform for monitoring and automating workflows in blockchains, which extends the functionality of smart contracts on Web2.
PARSIQ currently works with Bitcoin, Ethereum, Binance Smart Chain, Solana, Polkadot and five more blockchains.
The platform integrates networks with each other and with off-chain applications like Telegram, Discord and Google Sheets. The project team regularly updates list supported applications.
To interact with blockchain data, you need to create smart triggers – analogs of smart contracts that allow you to transfer information to off-chain applications. They can be used in various scenarios, for example:
- to automatically send letters of thanks when receiving deposits to bitcoin addresses;
- upon receipt of cryptocurrency from the blacklist – the platform will mark the account for additional verification and notify employees in Slack.
Smart triggers write in ParsiQL – a domain-specific programming language for the PARSIQ ecosystem. The examples above are based on the logic If-This-Than-Thathowever, developers can create more complex scenarios.
PARSIQ functions are available after registration on the platform website. The main tools are located in the side menu:
- Projects – user projects, each of which is a set of smart triggers;
- Transports – a channel for delivering blockchain data to a third-party application;
- User Streams – an interface for adding triggers to projects and monitoring activity in smart contracts.
Below we will consider the work of PARSIQ using an example NFT-project CryptoPunks.
How to track NFT on PARSIQ
PARSIQ and Gitcoin held a hackathon in November Defi & Cross-Chain Interoperability… Its members created new solutions for monitoring blockchain activity in PARSIQ.
One of the winners was Pavel Fedotov (Pfed-prog), who introduced the NFT Activity Tracking Project from the CryptoPunks collection.
Pavel added the CryptoPunks smart contract to PARSIQ and connected Telegram notifications to it. To do this, he performed the following steps:
1. Created a project: opened a tab Projects and chose the item Empty project in the side menu.
2. Added the contract code CryptoPunks in field Contract ABI to track NFTs from a collection.
3. Moved to the tab User Streams… Based on the smart contract code, I specified three events for creating a trigger TG:
- PunkOffered – NFT is for sale;
- PunkBidEntered – purchase confirmed;
- PunkBidWithdrawn – the user transferred the NFT to a different address.
4. Chose TG to transfer data in the tab Transports…
The trigger sent instant notifications about selected events via the PARSIQ Telegram bot.
More about implementation – on the page with the results of the hackathon…
PRQ Token and IQ Protocol
PRQ is a token on the Ethereum and Binance Smart Chain blockchains that can be used to pay for platform services. The company provides two models monthly subscription to PARSIQ:
- Old PARSIQ Model. Payment for services in US dollars. Tariff plan Pro – $ 49, Business – $ 399, Enterprise – $ 999;
- IQ Protocol Model. Payment for services with wrapped PRQ tokens using IQ Protocol. The protocol automatically adjusts the price based on the demand for tokens.
DeFi protocol IQ Protocol allows you to exchange PRQ for its wrapped version (pPRQ) – PARSIQ’s internal currency for paying for platform services.
Users can borrow pPRQ via protocol for 7, 30 or 60 days with commission in PRQ. Holders of the latter make money by providing liquidity to the IQ Protocol.
In September 2019 PARSIQ attracted € 1.5 million in a private token sale and IEO of PRQ tokens on the CoinMetro exchange.
The company put up 250 million tokens for sale, but 151,703,128 PRQ remained unredeemed, so the project management burned them. Also in January 2021, PARSIQ burned more than 50% of the tokens of the team and project advisors – a total of 38.04 million PRQ.
“This balanced the distribution of PRQs and increased trust from the token holders who supported us on IEO,” comments PARSIQ.
At the moment, the total number of PRQs is 310,256,872. The project team divided them as follows:
- in circulation – 115 625 704;
- PARSIQ team and advisors – 29,260,000;
- PARSIQ Development Fund – 40 371 167;
- reserve fund – 125,000,000.
The token is traded on Gate.io, KuCoin, OKEx, EXMO and other exchanges…
conclusions
PARSIQ is developing an ecosystem that enables efficient use of blockchain data in business and daily life. The project expands the capabilities of smart contracts by integrating with Web2 applications like Telegram and Google Sheets.
In the near future, developers will add support for Stellar, TokenInsight and Bitsgap. PARSIQ users can vote on the priority of projects for integration in the section Investigating…
Subscribe to Cryplogger news on Telegram: Cryplogger Feed – the entire news feed, Cryplogger – the most important news, infographics and opinions.
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Grayscale estimates that the Web3 metaverse sector will have $ 1 trillion in annual revenue in the near future. It will challenge Web2 projects with a total capitalization of $ 15 trillion.
Company PARSIQ develops a platform of the same name that unites these segments. We talk about PARSIQ and show a real case of working with the platform using the example of CryptoPunks.
about the project
PARSIQ was founded in 2018. It was created by former banker Tom Tyrman, cyber security specialist Andre Kalinovski and blockchain solutions developer for Deloitte Anatoly Ressin as a blockchain solution provider in Latvia.
“We faced the same problems in different projects: most of the networks were disparate data stores that are difficult for third-party services to interact with. We decided to create one reliable and flexible solution instead of designing bridges every time, ”says the project team.
It is a platform for monitoring and automating workflows in blockchains, which extends the functionality of smart contracts on Web2.
PARSIQ currently works with Bitcoin, Ethereum, Binance Smart Chain, Solana, Polkadot and five more blockchains.
The platform integrates networks with each other and with off-chain applications like Telegram, Discord and Google Sheets. The project team regularly updates list supported applications.
To interact with blockchain data, you need to create smart triggers – analogs of smart contracts that allow you to transfer information to off-chain applications. They can be used in various scenarios, for example:
- to automatically send letters of thanks when receiving deposits to bitcoin addresses;
- upon receipt of cryptocurrency from the blacklist – the platform will mark the account for additional verification and notify employees in Slack.
Smart triggers write in ParsiQL – a domain-specific programming language for the PARSIQ ecosystem. The examples above are based on the logic If-This-Than-Thathowever, developers can create more complex scenarios.
PARSIQ functions are available after registration on the platform website. The main tools are located in the side menu:
- Projects – user projects, each of which is a set of smart triggers;
- Transports – a channel for delivering blockchain data to a third-party application;
- User Streams – an interface for adding triggers to projects and monitoring activity in smart contracts.
Below we will consider the work of PARSIQ using an example NFT-project CryptoPunks.
How to track NFT on PARSIQ
PARSIQ and Gitcoin held a hackathon in November Defi & Cross-Chain Interoperability… Its members created new solutions for monitoring blockchain activity in PARSIQ.
One of the winners was Pavel Fedotov (Pfed-prog), who introduced the NFT Activity Tracking Project from the CryptoPunks collection.
Pavel added the CryptoPunks smart contract to PARSIQ and connected Telegram notifications to it. To do this, he performed the following steps:
1. Created a project: opened a tab Projects and chose the item Empty project in the side menu.
2. Added the contract code CryptoPunks in field Contract ABI to track NFTs from a collection.
3. Moved to the tab User Streams… Based on the smart contract code, I specified three events for creating a trigger TG:
- PunkOffered – NFT is for sale;
- PunkBidEntered – purchase confirmed;
- PunkBidWithdrawn – the user transferred the NFT to a different address.
4. Chose TG to transfer data in the tab Transports…
The trigger sent instant notifications about selected events via the PARSIQ Telegram bot.
More about implementation – on the page with the results of the hackathon…
PRQ Token and IQ Protocol
PRQ is a token on the Ethereum and Binance Smart Chain blockchains that can be used to pay for platform services. The company provides two models monthly subscription to PARSIQ:
- Old PARSIQ Model. Payment for services in US dollars. Tariff plan Pro – $ 49, Business – $ 399, Enterprise – $ 999;
- IQ Protocol Model. Payment for services with wrapped PRQ tokens using IQ Protocol. The protocol automatically adjusts the price based on the demand for tokens.
DeFi protocol IQ Protocol allows you to exchange PRQ for its wrapped version (pPRQ) – PARSIQ’s internal currency for paying for platform services.
Users can borrow pPRQ via protocol for 7, 30 or 60 days with commission in PRQ. Holders of the latter make money by providing liquidity to the IQ Protocol.
In September 2019 PARSIQ attracted € 1.5 million in a private token sale and IEO of PRQ tokens on the CoinMetro exchange.
The company put up 250 million tokens for sale, but 151,703,128 PRQ remained unredeemed, so the project management burned them. Also in January 2021, PARSIQ burned more than 50% of the tokens of the team and project advisors – a total of 38.04 million PRQ.
“This balanced the distribution of PRQs and increased trust from the token holders who supported us on IEO,” comments PARSIQ.
At the moment, the total number of PRQs is 310,256,872. The project team divided them as follows:
- in circulation – 115 625 704;
- PARSIQ team and advisors – 29,260,000;
- PARSIQ Development Fund – 40 371 167;
- reserve fund – 125,000,000.
The token is traded on Gate.io, KuCoin, OKEx, EXMO and other exchanges…
conclusions
PARSIQ is developing an ecosystem that enables efficient use of blockchain data in business and daily life. The project expands the capabilities of smart contracts by integrating with Web2 applications like Telegram and Google Sheets.
In the near future, developers will add support for Stellar, TokenInsight and Bitsgap. PARSIQ users can vote on the priority of projects for integration in the section Investigating…
Subscribe to Cryplogger news on Telegram: Cryplogger Feed – the entire news feed, Cryplogger – the most important news, infographics and opinions.
Found a mistake in the text? Select it and press CTRL + ENTER
