Parsiq platform offers various types of blockchain monitoring and analytic tools which it combines with a workflow automation platform.

What is Parsiq?

The Parsiq platform provides users with an easy way to monitor Blockchain operations and perform an automated action. Did your Ethereum address receive a deposit? Boom, receive a notification on telegram. Did your favorite DeFi token just see a whale transfer? Boom, receive an email.

what is parsiq integrations for blockchain monitoring
Available Integrations

And it is much more than just notifications, users can transform the data to be delivered to their favorite off-chain application or web service. Doing accounting in DAI stablecoin? Automate the transactions into your Google spreadsheet. Essentially, you can bridge the blockchain and off-chain without needing to write any code. These types of Smart-Triggers are essential to keeping data organized and accessible. Meaning Parsiq has use cases from personal users, small businesses to large enterprises.

PRQ Tokenomics

PRQ token powers the platform, essentially, if you want to use the platform then you will need to be holding PRQ tokens. The more actions you want to monitor on-chain, the more PRQ you will need to hold in your Ethereum wallet. Additionally, users can create Public Projects which other users can subscribe to. This adds a gamification element to the PRQ token, as when you subscribe to an automation workflow, you pay a small fee to the creator. Check out Flashr, a whale transfer notification tool, which showcases how public projects can look (and is currently free to use!).

what is parsiq
Parsiq Workflow example

Additionally, the O2 Protocol exists for power users who may not find it feasible to continuously market buy PRQ tokens. This is a pool of risk-free PRQ lending and collateral-less borrowing, risk-free because the PRQ tokens are never transferred. As a result, you could compare it to how some blockchains, such as VITE, allow you to lease transaction power. Furthermore, lenders will be able to pool PRQ to earn rewards from the generated fees.

Looking to the future

Binance Smart Chain… Parsiq looks like it will be scaling onto BSC soon enough. As the team announced they’ve received funding from Binance via the Accelerator Fund.

  • DeFi on the BSC chain is growing at a rapid pace, meaning third party analytic tools will be in big demand. Farmers need to track their operations closely!

PRQBOOST… the team has also recently launched a PRQ/ETH liquidity mining program for their Uniswap pool. This involves use of a second token PRQBOOST which is stackable to boost users’ reward level. Initially, the new token will be airdropped, though all the rewards mechanisms are not yet known. Watch Parsiq’s announcements closely!