Parsiq’s IQ Protocol to Launch Risk Free DeFi Lending in the Metaverse on Solana

Good news for the NFT lending and borrowing business. The inclusion of a new player; the IQ Protocol, which is available for Solana blockchain, was announced by Parsiq on November 10th.

Solana offers faster processing speeds, and cheaper transaction fees than Ethereum. While Ethereum is an amazing platform, new contenders are changing the game.

Collateral free lending and borrowing with NFTs and other metaverse assets through IQ Protocol is here. Sator and Solcery are joining IQ Protocol to complete the team.

With this new capability, NFTs have achieved a new level of liquidity in the marketplace. Not only does this make sense for NFT collectors, but NFT investors now have a new way to liquefy their assets.

Solana Makes it Happen

Solcery´s users will be able to hold or rent Solcery´s tokens on games on their platform, as a subscription service. Also enabling in – game NFT owners to lend NFTs in a collateral – with no set terms if need be.

Sator also will allow users to trade NFTs across its content metaverse, displaying a whole new economy for asset owners and a fueled users´experience.

No need to lock collateral while renting NFTs through the customizable IQ Protocol. A set time limit will guarantee that lenders will get their pay back from borrowers, eliminating any risk of default.

This way, it is safe to make NFTs liquid with borrowing, and ensure that assets can be used for everyday things.

IQ Protocol does not deliver the original NFT to the borrower, but an expirable version of it, giving the lender a complete sense of security.

Tom Tirman, PARSIQ´s CEO and IQ Labs Co-Founder, said,

“As the metaverse will be made up of multiple connected worlds – each representing a different kind of experience for the participant – IQ provides the means for participants to utilize a DeFi layer for the digital assets in any of the digital worlds which they may enter.”

In other words, Parsiq; Instant transaction notifications in a blockchain monitoring and workflow automation platform for end – users. Connecting both on – chain and off – chain applications in real time.

This platform is capable of connecting your blockchain activities to off – chain apps and devices, power real time automation, build custom event triggers, and monitor and secure DeFi applications.

The Metaverse Will Change Everything

There is no doubt that the Metaverse is a sea change in how things will operate online. That is why Facebook is gone, and changed its name.

However, the big players are out of luck. People want to own their data, and a lot more. The kinds of tools that are emerging will make owning assets online a lot easier.

Parsiq Knows the Market

Parsiq has been in close collaboration agreements with top-tier associates all over the world, such as Algorand, which signed up in September 2019, improving its analytical capabilities.

Furthermore, Parsiq also formed an alliance with Dash, to perform real time transaction notifications on its Smart Triggers. Later, they added Bitfury Crystal to add its transaction risk scoring capability, to boost its KYT and AML processes.

In November 2020 Parsiq announced a new partnership with AllianceBlock to work on data sharing, on both DeFi and TradFi together.

2021 turned out a game changer and a new chain of partners joined in; ChainLink, Polkadot, PAID Network, Injective, and SuperFarm. ChainLink for instance, feeds into Parsiq´s monitoring platform to allow the integration of its oracle price.

Parsiq has been included on the KuCoin Exchange since May 2021, and the OKEx Exchange since January 2021.

To learn more about PARSIQ, please click here!

Source: https://blockonomi.com/parsiq-iq-protocol-solana/