IQ (Everipedia) 2023 Guide
IQ emerged as a decentralized on-chain encyclopedia. In contrast to Wikipedia’s centralized model that imposes restrictions on user-generated content, IQ was conceived as an open and unrestricted platform for knowledge and information.
In order to fuel the network, the project introduced its own native token, $IQ, which serves multiple functions in the crypto space.
Introducing $IQ
$IQ is a decentralized digital cryptocurrency token that operates on the Ethereum blockchain. It is often associated with the concept of “intelligence” due to its name, which stands for “Intelligence Quotient.” Yet, it’s essential to clarify that $IQ doesn’t measure or represent human intelligence in any way. Instead, it serves as a digital asset within the crypto ecosystem.
The IQ token is committed to building a more intelligent future through artificial intelligence and blockchain technology. The IQ token powers a knowledge ecosystem including applications like IQ.wiki, the world’s biggest cryptocurrency and blockchain encyclopedia. IQ.wiki integrates AI for tasks such as summarizing wiki articles.
Origin of $IQ
The token is governed by BrainDAO which also includes BrainDAO’s treasury of digital assets. BrainDAO was established in December 2021 with the aim of shaping a smarter future using the IQ token. This decentralized autonomous organization oversees the IQ token, which serves as the backbone for the IQ.wiki platform. Additionally, BrainDAO functions as the custodian of IQ tokens and operates under the governance of IQ token holders. At the helm of BrainDAO are Galaxy Brain Navin Vethanayagam and Chief Brain Officer Cesar Rodriguez, who oversee a team of designers, engineers, and project managers.
Use Cases of $IQ
Trading cryptocurrencies like $IQ has become increasingly popular due to several compelling reasons:
Governance: IQ token holders have governance rights within the BrainDAO ecosystem. This means that if you hold IQ tokens, you have a say in the decisions regarding the platform’s development, upgrades, and changes. Traders who are interested in participating in decentralized governance may find IQ tokens appealing.
Staking: IQ tokens can be staked within the HiIQ staking system. By staking IQ tokens for a specified period, users can earn HiIQ tokens, which represent a form of yield. The longer and more IQ tokens you stake, the greater your HiIQ balance and rewards. Staking can be an attractive option for those looking to earn passive income through their cryptocurrency holdings.
Access to IQ.wiki: IQ tokens play a central role in IQ.wiki, a platform for cryptocurrency and blockchain-related information. IQ token holders who stake their tokens gain voting rights on governance decisions related to both IQ.wiki and the IQ token itself. Additionally, HiIQ stakers may receive special NFTs that grant them editing privileges on IQ.wiki, enhancing their ability to contribute to and shape the platform’s content.
AI Integration: IQ.wiki has integrated OpenAI’s GPT-3 and GPT-4 models for AI-driven content summarization. The IQ token is used to reward contributors to the encyclopedia and incentivize the development and testing of AI technologies. If you believe in the potential of AI to revolutionize knowledge-sharing and content creation, IQ tokens may be of interest.
IQ GPT Search Engine: IQ GPT is a blockchain-focused AI search engine that provides real-time, contextually relevant information within the blockchain domain. It caters to various use cases, including research and trading activities. IQ tokens are used to power this search engine, and early access was granted to HiIQ token holders, potentially giving them an advantage in accessing valuable information quickly.
Liquidity and Trading: IQ tokens are listed on major cryptocurrency exchanges such as Flipster Cryptocurrency Exchange. The availability of trading pairs, such as IQ/USDT, provides liquidity and trading opportunities for those interested in speculating on the token’s price movements.
BrainDAO Treasury: The value of the IQ token is backed by BrainDAO’s treasury, which includes IQ tokens, stablecoins, blue-chip NFTs, and other digital assets. This backing can provide a level of stability and confidence to traders and investors in the IQ ecosystem.
IQ GPT
IQ GPT is a crypto-focused AI model that offers an understanding of complex terminology, real-time market patterns, and breaking news. The $IQ token, which enables holders to take part in governance and have access to extra features, powers it. The engine was launched in 2023 and is powered by the IQ token.
IQ GPT offers early access and premium features to $IQ token holders who maintain a minimum balance of 100,000 HiIQ. By staking their $IQ tokens, users can earn $IQ tokens and participate in governance decisions based on their HiIQ balance. This staking process involves locking up $IQ tokens for a specific duration, with the HiIQ balance determined by the amount of $IQ staked and the duration of the lock-up. For instance, staking 100,000 IQ for 2 years would result in a HiIQ balance of 200,000 HiIQ.
One of the key benefits of holding the required HiIQ balance is gaining access to IQ GPT, where users can enjoy premium features. These features include real-time cryptocurrency market data, such as price data, trading volumes, and market capitalization, accessible through a conversation-like interface. Users can also obtain AI-generated answers to their crypto-related questions, powered by data from IQ.wiki and other reputable sources. Furthermore, IQ GPT provides AI-powered market analysis based on real-time market data, news, and trends.
IQ NFTs
IQ token holders who stake their tokens with HiIQ have the opportunity to participate in a contest for digital collectibles where they can win raffle tickets. The more HiIQ tokens a user has staked, the greater their chances of winning these raffle tickets.
Additionally, Non-Fungible Tokens (NFTs) have been distributed as rewards to its token holders. In a recent collaboration with the NFT project “Supernormal,” the protocol allocated non-fungible tokens to IQ stakers. The collective value of these distributed NFTs amounted to $120,000 earlier this year.
$IQ Prices
The live $IQ price today is $0.004678 USD at the time of this article, with a 24-hour trading volume of $10,820,904 USD. $IQ is down 5.81% in the last 24 hours. It has a circulating supply of 15,681,630,848 IQ and a max. supply of 21,000,000,000 $IQ tokens. The highest price paid for $IQ is $0.072382 USD, which was recorded on July 16, 2018 (about 5 years). Comparatively, the current price is -93.49% lower than the all-time high price.
How to Start Trading $IQ
To trade $IQ on Flipster:
- Download the Flipster app and complete the account set-up process
- Go to [Trade]
- Click on [Search] at the top of the page and type in $IQ
- Click on $IQ
- In the [Amount] field, type in the amount of $IQ you wish to buy or sell. Alternatively, you can select the percentages below to choose how much of your available cash you want to use for your order
- Click [Preview order]
- Once you have confirmed the details, click on [Buy $IQ – Long] button to open a long position or [Sell $IQ – Short] if you are opening a short position.
Login and trade now.
Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service. Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.