IQ Protocol Underpins Mysterium Network Token Utility with Staking Subscription Model
Tallinn, Estonia, 13th January, 2022, Chainwire
IQ Protocol provides Mysterium token holders completely risk-free and collateral-free staking rewards whilst supporting a circular subscription model for platform users.
IQ Protocol, the world’s first risk-free, collateral-less DeFi solution for blockchain subscriptions, today announced integration with the decentralized VPN, Mysterium Network.
Due to the nature of blockchain technology, cryptocurrency transactions must always be instant, one-off payments. The IQ Protocol is an industry-first DeFi solution that introduces timed tokens, creating a subscription model for crypto projects that provide ongoing services.
This innovation brings the power of DeFi to non-DeFi services, like Mysterium, creating a circular SaaS economy. This is the first pool IQ Protocol launched on Polygon after launching a PARSIQ pool on BSC earlier in 2020 – Etherium and Solana are the next chains on the roadmap of a truly multichain solution.
Mysterium is powered by a global network of more than 10,000 nodes. Users stake MYST in order to run a node and provide VPN and proxy services to global users and B2B clients from both Web2 and Web3.
Now, $MYST token holders can stake their tokens in the Mysterium Delegation Pool, and nodes can rent tokens they need from this Pool. Tokens are rented for a pre-agreed time limit and a percentage of a node’s earnings is automatically paid out to Pool stakers.
“Mysterium are providing a vital service to the decentralized ecosystem, and we’re delighted to support their continued growth with the integration of IQ Protocol” says IQ Labs CEO, Tom Tirman.
“Mysterium will now be able to offer staking and lending incentives to $MYST token holders within a non-inflationary tokenomic model in which yields are generated from actual real-world use cases, and not necessarily influenced by market volatility. This is the first of many staking pools we have lined up in Q1 as we move towards the launch of our native token, $IQT.”
IQ Protocol was designed by the original team behind PARSIQ, a real-time blockchain monitoring platform that connects blockchain activity to off-chain applications and devices. In the run-up to the launch of the IQ Protocol Governance Token, whitelist initiatives are currently active across all social media channels.
Mysterium’s BETA version of the IQ.Space pool is now open to all $MYST holders who’d like to stake their tokens. Rewards will be paid in $MYST.
About IQ Labs
Launched recently to take over the continued development and deployment of the IQ Protocol (previously overseen by PARSIQ), this new separate entity will be leading the way in blazing a path towards crypto subscription services and risk-free, collateral-less loans of NFTs and DeFi tokens.
About Mysterium Network
An open-source, Swiss-based company founded in 2017, Mysterium is rewiring the internet so it’s secure, free and accessible for all. Mysterium’s decentralized VPN is currently available for Android, Mac and Windows. Mysterium dVPN plugs into a global network of residential nodes, one of the fastest growing online communities decentralizing the web. This open marketplace allows anyone to rent their unused bandwidth and IP address with those in need, protecting others against censorship, surveillance, and cybercrime.
Head of Marketing
- Anastasia Nesterova
- IQ Labs
- +372 58129949