How is PARSIQ (PRQ) coin generated?

Through its token generation event, PARSIQ raised funds to fuel the development of its blockchain monitoring platform, offering PRQ tokens on multiple networks and leveraging smart contracts for distribution.

Dec 26, 2024 at 07:15 am

Key Points:

• Understanding PARSIQ Blockchain Technology
• Mechanisms of PARSIQ's Token Generation Event (TGE)
• Blockchain Networks Supporting PRQ Generation
• Role of PARSIQ Smart Contracts
• Timeframes and Distributions of PRQ Tokens

Understanding PARSIQ Blockchain Technology

PARSIQ is a blockchain monitoring and automation platform that connects diverse blockchain networks, allowing developers to build powerful monitoring and alert systems. Its core technology includes a blockchain event streaming engine, a smart contract bridge, and a web interface for accessing data.

Mechanisms of PARSIQ's Token Generation Event (TGE)

PARSIQ raised funds through a token generation event (TGE) to support the development and expansion of its platform. During the TGE, investors purchased PRQ tokens in exchange for fiat currency or other cryptocurrencies.

Blockchain Networks Supporting PRQ Generation

The PRQ token is an ERC-20 token primarily generated on the Ethereum blockchain. However, PARSIQ has expanded to support PRQ token generation on other blockchain networks, including:

• Binance Smart Chain (BNB)
• Polygon (MATIC)
• Avalanche (AVAX)

Role of PARSIQ Smart Contracts

PARSIQ utilizes smart contracts to facilitate the generation and distribution of PRQ tokens. These smart contracts are autonomous agreements that execute transactions based on predetermined conditions and rules.

Timeframes and Distributions of PRQ Tokens

The PRQ token generation event occurred in several phases:

• Private Sale (April 2019): Exclusive offering to select investors.
• Public Sale (June 2019): Open to the general public.
• Post-TGE Token Release (Summer 2019): Distribution of tokens to early adopters and supporters.

FAQs:

What is the purpose of PRQ tokens?

PRQ tokens serve multiple purposes within the PARSIQ ecosystem:

• Facilitating network transactions and powering the platform's services.
• Rewarding users for contributing to the platform's governance and operation.
• Incentivizing developers to build applications on the PARSIQ platform.

How is the PRQ token supply managed?

PARSIQ has implemented a finite and capped supply of PRQ tokens. The total supply of PRQ tokens is 1 billion, with a portion allocated for each phase of the token generation event. Unsold tokens from the public sale were burnt, reducing the total supply.

How can I acquire PRQ tokens?

You can acquire PRQ tokens through various cryptocurrency exchanges that support the token. These exchanges include Binance, Coinbase, and Huobi Global. Alternatively, you can participate in community events or contribute to PARSIQ's platform development to earn tokens.