Token Description & Project Background
PARSIQ is a blockchain connectivity layer that provides real-time and historical data access through its Tsunami API. This platform supports multiple blockchains, including Ethereum, Polygon, and Avalanche, offering metrics like:
- Total Value Locked (TVL)
- Pricing data
- User balances
Key Features:
- Smart Triggers: Built using ParsiQL, a domain-specific language, enabling customized functionality atop blockchain data.
PRQ Token Utility:
- Payment for platform services
- Staking rewards
- Governance via the PARSIQ DAO
The PRQ token launched in 2019 via an IEO on CoinMetro. In 2021, PARSIQ secured $3M in Series A funding from the Solana Foundation.
Founding Team:
- CEO Tom Tirman (also leads IQ Protocol, an NFT renting solution)
- Co-founders Andre Kalinowski and Anatoly Ressin
Risks of Investing in PRQ
General Crypto Risks:
- Volatility & liquidity risks
- Regulatory uncertainty
- Cybersecurity threats
PRQ-Specific Risks:
- Competition: Rivals like The Graph and Covalent challenge adoption rates.
- Smart Contract Reliance: Vulnerabilities could impact functionality.
- Limited Disclosure: The PARSIQ team isn’t obligated to share material updates, increasing investor risk.
💡 Investor Note: Conduct independent research before trading.
Uphold’s PRQ Evaluation
Before listing PRQ, Uphold assessed:
- Code Audits: Open-source, peer-reviewed security.
- Liquidity & Demand: Market maturity and utility.
- Regulatory Compliance: No pending legal actions.
FAQs
Q: How does PRQ staking work?
A: Stake PRQ to earn rewards and participate in governance decisions.
Q: Which blockchains support PARSIQ’s Tsunami API?
A: Ethereum, Polygon, Avalanche, and others.
Q: What’s the maximum supply of PRQ?
A: The total supply is capped at 500 million tokens.
Final Thoughts
PARSIQ bridges blockchain data with actionable insights, but its success hinges on adoption amid fierce competition. Investors should weigh risks, including regulatory shifts and smart contract dependencies.
For updates, monitor official PARSIQ channels.