IQ Protocol is a DeFi framework for renting wrapped expirable versions of digital assets for the use cases they empower. Decentralized money market for digital asset renting and on-chain subscriptions. The next money lego that allows users to rent wrapped expirable versions of digital assets without collateral for their utility, while allowing holders to earn by providing liquidity without risk.
"In recent years, subscriptions have emerged to become one of the most popular ways in establishing eco-
nomical relations between sellers and consumers. Instead of purchasing individual items on a regular basis people tend to pay in advance to have the right to consume a particular bandwidth from the service provider. We are proposing a novel way to avoid some known pitfalls in the token issuance process for service based companies where consumption is measurable over time and volume. Our targeted services are expected to work under a subscription model, and the volume of the services being delivered to the end-user depends on some initial (possibly renewable) agreement with the service provider. Examples of such services can be: File storage provider, IPFS Pinning Service, Internet Services Provider, Blockchain Monitoring Service, and many others: even traditionally off-chain services like a daily delivery of fresh fruits.
We propose a generic way for implementing subscriptions on-chain in a flexible and cheap way, while preserving all important workflows like cancel/refund policies, different time-frames, consumption rate limiting, overuse quota, discounts, etc. For that we introduce the concept of PowerTokens, that are utilized not as a means of payment, but rather as a deterministic over-time ”energy” generator. Here, energy plays a role in accounting for the unit of service consumption (like gas units in Ethereum)"
📅 Launch Time (UTC)
DeFi, NFT Renting
‼️ Sale Details
- Exchange: TBA
- Token price: $0.150
🔗 Social Links
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