Mysterium Community will Combine PARSIQ’s Collateral-Free Staking Service, the IQ Protocol

The Mysterium Community will likely be integrating PARSIQ‘s “collateral-free” staking service, known as the IQ Protocol

Node operators and MYST token holders will have the ability to reap the benefits of the advantages of an “industry-first” staking resolution developed by IQ Protocol integration, in accordance with a launch shared with Crowdfund Insider.

PARSIQ’s IQ Protocol is particularly developed to supply a risk-free, collateral-free rewards setting for Mysterium contributors.

As famous within the announcement, PARSIQ, the blockchain monitoring and workflow automation platform, confirmed that the Mysterium Community will likely be “one of many first initiatives to undertake PARSIQ’s revolutionary new IQ Protocol – a decentralized finance (DeFi) resolution for the SaaS market.”

As said within the launch, the IQ Protocol is “a groundbreaking resolution that brings Mysterium’s upcoming tokenomics mannequin to life, enabling customers to stake native MYST tokens however earn rewards in DAI stablecoin.”

The discharge additionally talked about that the answer was created by PARSIQ, a next-gen blockchain analytics platform that connects blockchain or distributed ledger tech (DLT) exercise to off-chain apps and units. The IQ Protocol is the world’s first “risk-free, collateral-less DeFi protocol to tokenize SaaS subscriptions,” the announcement revealed.

As famous within the replace, this innovation goals to carry “the facility of DeFi to conventional companies by facilitating a subscription mannequin for blockchain initiatives.” It additionally goals to take away the necessity to have upfront collateral, thus serving to to mitigate “the everyday dangers related to DeFi participation.”

As talked about within the launch, the IQ Protocol is the “brainchild of Anatoly Ressin, PARSIQ’s Chief Architect, with inventive backing from PARSIQ’s CTO Alan Durnev together with a devoted crew of builders and extra outdoors help.”

As famous within the launch:

“Mysterium additionally contributed to the event of the Protocol, constructing its Golang Software program Improvement Package and by collaborating in early discussions on math fashions behind its core functionalities. Launching with the IQ Protocol is a monitoring resolution, giving customers the fitting to offer companies by possession or delegation of Mysterium’s native token MYST.“

By integrating the IQ Protocol into the tokenomics framework, a round financial system mannequin could be created, “by which Mysterium’s node runners and MYST token holders can each reap the advantages of staking,” the announcement famous whereas including that it will occur by the Mysterium Delegation Pool, the place holders are in a position to “deposit their funds to start incomes rewards in DAI stablecoin.” Node runners can then “hire tokens from the pool to extend their stake and incomes potential within the community.”

The announcement additionally famous:

“Mysterium’s international community is made up of 1600+ nodes offering dVPN companies, the place the variety of each day transactions (micropayments) throughout the peer-to-peer market lately surpassed three million. The IQ Protocol is designed to offer new incomes alternatives in a totally risk-free setting for Mysterium Community contributors.”

Mysterium’s micropayment good contracts will likely be up to date “to work instantly with the IQ Protocol pool, guaranteeing a non-custodial payment redistribution,” the replace revealed whereas stating that this limits the chance often “related to a typical lending platform or liquidity pool, equivalent to danger of liquidation or danger of impermanent loss.”

Mysterium is an open-source, Swiss-based agency established in 2017. Mysterium says that it’s targeted on “rewiring the web so it’s safe, free and accessible for all.”

Mysterium’s decentralised VPN is out there for Android, Mac, and Home windows. Mysterium dVPN is ready to plug into a global community of residential nodes, “one of many quickest rising on-line communities decentralising the online.” This open market permits anybody “to hire their unused bandwidth and IP tackle with these in want, defending others towards censorship, surveillance and cybercrime,” the announcement defined.

As beforehand reported, PARSIQ is a blockchain monitoring and workflow automation platform that acts as “a multi-level bridge between blockchains and off-chain functions.” PARSIQ expertise is a proprietary ParsiQL programming language that enables customers “to observe and interpret an limitless stream of knowledge on the blockchain; thus, it’s potential to observe merchants and strange customers’ wallets.”