Before trading any crypto asset, it is important to understand the risks. This overview summarizes certain risks associated with this asset. No securities regulatory authority has issued an opinion regarding this asset, including an opinion that it is not itself a security and/or derivative.

Investors in Canada are reminded that no securities regulatory authority or regulator in Canada has assessed or endorsed any Crypto Contract or Crypto Asset made available through the Uphold Platform.

Token Description & Project Background

PARSIQ is a blockchain connectivity layer. The platform’s Tsunami API enables applications to access blockchain-related data streams covering metrics such as total value locked (TVL), pricing data, and user balances, among other types of information. Tsunami is capable of retrieving entire blockchain histories, as well as real-time data.

Tsunami is compatible with a series of blockchains including Ethereum, Polygon and Avalanche.

Through a domain-specific language called ParsiQL users can build functionality on top of blockchain data using Smart Triggers. It is capable of integrating onto any blockchain. 

The PRQ token is used as a means of payment to access products and services, and allows users to earn rewards through staking. The token is also used for governance - holders can participate in the PARSIQ DAO.

The PRQ ERC-20 token launched in 2019 via an IEO on CoinMetro. The project received $3 million in Series A Funding from the Solana Foundation in June 2021.

PARSIQ was founded by Tom Tirman (CEO), Andre Kalinowski and Anatoly Ressin.Tom Tirman is also the CEO of IQ Protocol, an NFT renting solution. He studied at the Stockholm School of Economics.

Risks of PRQ

Like an investment in other crypto assets, there are some general risks to investing in PRQ. These include:  (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to the Risks Specific to Holding Digital Assets statement.

In addition to these general risks, an investment in PRQ is subject to the following specific risks:

  • PARSIQ faces competition from other Web3 data aggregation platforms, such as The Graph or Covalent. Any potential success associated with PRQ depends on Parsiq’s rate of adoption. Additionally, the protocol relies on smart contracts 

We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with PRQ. Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.

The PRQ community, PARSIQ DAO and PARSIQ founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of PRQ have no recourse to PRQ community, PARSIQ DAO, PARSIQ founding team, or Uphold if PRQ declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.

Uphold’s Evaluation Process

Prior to listing PRQ on the Uphold Platform, Uphold performed due diligence on PRQ and determined that PRQ is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following: 

  • The creation, governance, usage, and design of PRQ, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community. 
  • The supply, demand, maturity, utility, and liquidity of PRQ.
  • Any marketing materials put forward by the PRQ social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
  • Material technical risks associated with PRQ, including any code defects, security breaches and other threats concerning PRQ and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
  • Legal and regulatory risks associated with PRQ, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of PRQ. 


Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

Uphold users should read the Risks Specific To Holding Digital Assets statement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.  

Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following link. Please also review the Uphold Canada – Crypto Risk Statement for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and Risks Specific To Holding Digital Assets statement. 

Last updated on June 21, 2023.

How to buy PARSIQ (PRQ)

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3. Click the link we send you and create a password

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