What Is IQ?
IQ is a token within an ecosystem that is dedicated to being a store of knowledge about everything blockchain-related.
Within this ecosystem, which includes applications such as IQ GPT, IQ.wiki, and BrainDAO, the token serves various roles, all of which will be discussed later on.
The Origin Story: Understanding The Roots Of IQ
The story of IQ began as far back as 2014 in an encyclopedia known as Everipedia, aka the “encyclopedia of everything.”
As for the token itself, it launched in 2018 and marked the encyclopedia’s move to becoming the first blockchain-centered encyclopedia.
It was only four years later that the rebranding eventually took place, with Everipedia changing to the IQ.wiki that we know today.
How Does IQ Differ From Other Cryptocurrencies?
The IQ token is unique in that it might be the only token that incentivizes the provision of knowledge or information within a platform governed by its community.
In other words, you are rewarded for contributing your knowledge, creating an entirely new use case for blockchain technology.
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The Technology Behind IQ
Here, we will be looking at the technology underlying IQ’s operations, i.e., the blockchain, among other things.
Blockchain Technology
A blockchain is essentially a distributed ledger or database that is shared throughout a network’s nodes. Blockchains are best known due to how vital their role within cryptocurrency systems can be for the maintenance of a decentralized and secure record of transactions. However, they aren’t limited to only cryptocurrency usage.
For instance, they can be utilized to render any data in any sector immutable, which is why IQ uses the technology for the transactions on its network and also for any edits made on its wiki for full transparency.
Unique Features And Technological Advancements
It has even incorporated AI into its set of features. For instance, IQ GPT is one of the recent features that it has launched incorporating AI (artificial intelligence).
In the platform’s own words, it is touted as being the first AI cryptocurrency search engine that offers real-time and contextually appropriate information within the domain of blockchain.
Moreover, it caters to several use cases, such as development, learning, trading activities, streamlining research procedures, and filtering our irrelevant data.
IQ Ecosystem
Within this section, we will be looking at some of the applications found within its ecosystem and the roles they play within it.
IQ.wiki
This would be where you’d find all the material or information that covers all branches of knowledge within the cryptocurrency space, i.e., the encyclopedia itself.
HiIQ
Launched in August 2021, HilQ was made to encourage IQ holders to hold the native token in the long term, allowing them to lock up and stake their tokens. In other words, it’s a staking system.
IQ GPT
This is the blockchain-based AI search engine that we discussed earlier. It launched in 2023 with the IQ token powering it. Furthermore, it pulls in dependable data from various sources, like the content database of IQ.wiki, CoinGecko, Flywheel DeFi, InvestHK, CoinNess, and The Associated Press News.
BrainDAO
BrainDAO happens to be the governing DAO for the IQ ecosystem.
The DAO’s mission is to create a better future via its IQ token, which powers its entire knowledge ecosystem.
The DAO, collectively, is therefore composed of every IQ token staker and helps with the token’s governance.
The Specifics of IQ: What Sets It Apart
Let’s now shift our attention to its native token, covering some of the specifics along with the various roles it plays within the ecosystem it’s a part of.
Unique Attributes
As stated earlier, the IQ token is unique precisely because it is one of, if not the first, tokens used to incentivize providing knowledge and powering an entire ecosystem dedicated to that. It is representative of a unique way of rewarding writers and can even be staked.
Utility and Usability
The underlying utility of the token has to do with the fact that it is used as a form of payment within its ecosystem while also playing a major role in governance, which involves voting on proposals that have lasting impacts. Other than that, it may also be staked through its HilQ staking system, and rewards may then be earned.
Token Distribution
The initial token distribution of IQ saw 51% of it being distributed to EOS token holders; 3.5% that had initially been marked for an airdrop but weren’t able to were instead put back into the ecosystem via the IQ Fund; 15.7% of it was allocated to early backers and founders; 10% was distributed to the firm itself; 14.7% to EOS VC; and finally, the IQ Fund held the remaining 5.1%.
Investing in IQ: Why, Where, and How
People might be interested in this token due to the diverse roles it plays within the ecosystem and therefore may wish to take part in them; or maybe because they feel the token has potential later on as an investment, potentially seeing the possibility for a spike in value, and treat utility as more of an afterthought. So, if that’s the case, then the tokens can be bought or swapped from numerous exchanges, including the likes of Binance, Sushiswap, and more.
Risk and Rewards: The Investment Spectrum
Like with any cryptocurrency nowadays, except perhaps Bitcoin, IQ has been on a downward trajectory for quite some time now, though it has leveled out a bit recently.
Therefore, if you feel like this token is due for a recovery period, then now might be the time to invest since its price is significantly lower. Still, there is also the risk that it might fall even further or not even rise at all.
Regardless, you can also earn this token through staking and by contributing your knowledge on this platform.
So, if you feel that the rewards in this area are sufficient, then it wouldn’t be a bad idea to invest in this platform.
How To Buy IQ Token On Binance
Earlier, we stated that this token can be bought on Binance, so here, we will be discussing just that, i.e., the how of it.
Step-By-Step Guide To Creating A Binance Account
You can start by creating an account on Binance. Simply click on the link below, which will take you to Binance’s Registration Page using a special Coin-Labs referral code. On the registration page, you will need to fill in all of the required fields. These will include ones for your email address, password, and eventually that six-digit email verification code.
Following that, to make sure that your account can trade without experiencing any limits, you will have to go through Binance’s KYC procedure. This usually entails heading over to its verification page, providing some details regarding your identity, and then proving that with some documentation.
Funding Your Account
Next, we can move on to funding your account, i.e., making the first deposit. So, pay Binance’s Deposit Page a brief visit, pick a token you’d like, along with a network, and you should then copy and paste the deposit address that will be generated into the withdrawal field of an external platform that you seek to transfer the tokens from.
Executing The Trade
After finally depositing some funds, you can use the numerous options available on Binance to buy the tokens you want, which, in this case, would be IQ. These options will include futures, spot trading, and swapping or converting, among others. Converting what you have already deposited into IQ tokens may be the quickest and simplest option to execute. Depending on the method you choose, your order may take a while to fill.
How To Transfer IQ Tokens To Your Wallet
To transfer your newly acquired IQ tokens into your wallet, head over to Binance’s Withdrawal Page. Over there, select the IQ token, specify the amount you wish to withdraw, and select any network supported for the token. Following that, enter your wallet’s address after selecting the same token and network there into Binance’s withdrawal field. Your transaction should take a while to confirm.
Future Prospects Of IQ
From what we have gathered, IQ doesn’t mention any significant updates planned for this year or the next, nor does it show any roadmaps. However, from time to time, it keeps on integrating new features, along with partnering up with various other projects, and recently it added new chat features to IQ GPT, which it just released.
Conclusion
The IQ ecosystem is representative of a unique take on incentivizing the provision of knowledge. It therefore dedicates itself to becoming a one-stop shop for everything blockchain-related, a place where you can have a lot of your blockchain and cryptocurrency queries answered. If you’re knowledgeable about the space and wish to contribute that knowledge and be rewarded for it, then this may be worthwhile for you to look into. However, that won’t be so much the case if the token’s value accruing is all you care about.
We Coin-Labs.com provides only objective information about IQ.
Therefore, we are not responsible for the investment decision in IQ and the resulting loss.
IQ Basics
Here are some factors that investors should consider before investing in IQ.
| Cryptocurrency Features | IQ (IQ) |
|---|---|
| Publisher or Developers | Theodor Forselius, Travis Moore, Sam Kazemian |
| Headquarters (Registration Number) | Cayman Islands |
| Symbol | IQ |
| Platform | Polygon blockchain |
| Published Date (CMC Registration) | 2024-11-01 |
| Max Supply | 21,000,000,000 IQ |
Reliability Score of IQ in 2024
These are indexes mesuring the investment reliability of IQ conducted by Coin-Labs.com.
| Investment Reliability Rating Items | Scores and Current Status |
|---|---|
| Company Activation Rate | / 10.0 CAR |
| Communication Rate | / 10.0 CR |
| Technology Transparency Rate | / 10.0 TTR |
| Development Participation Rate | / 10.0 DPR |
| Listing Status on the World's Top 10 Exchanges | Listed on 2 Exchanges |
| Number of Available Pairs Worldwide | 101 Pairs |
| Market Cap of the Cryptocurrency | 85,272,222 USD (Rank #382) |
The table above shows the result of investment suitability evaluation for IQ.
Check out how we evaluate cryptocurrencies on the crypto rating description page.
IQ Price
Here are the price and recent trading volume of IQ. (Data of 2024-11-02 00:35:00)
| Price Items | Price and Trading Volume of IQ |
|---|---|
| IQ Price | 0.006 USD |
| Price Change 24h | -1.64% |
| Price Change 7d | -8.36% |
| Trading Volume 24h | 3,493,342 USD |
| Trading Volume Change 24h | -39.81% |
Cryptocurrency Metadata
You can check the development status and social media information of IQ through the links in the table below.
| Metadata Source | URL |
|---|---|
| π Official Website | |
| π White Paper | |
| π°οΈ Source Code (GitHub) | |
| π¦ Twitter | |
| π€ Reddit | |
| πΊ Message Board |
Where to Buy IQ
Here are the top ten world crypto exchanges where traders can buy IQ in 2024.
| Top10 Exchanges | Listed Status | Page URL |
|---|---|---|
| Binance | Listed | https://www.binance.com/en/trade/IQ_USDT |
| Coinbase | Not listed | |
| Kraken | Not listed | |
| KuCoin | Not listed | |
| Bitfinex | Not listed | |
| OKX | Listed | https://www.okx.com/trade-spot/iq-usdt |
| Huobi | Not listed | |
| Bitstamp | Not listed | |
| Bybit | Not listed | |
| Gate.io | Not listed |
Frequently Asked Questions
What is the current price of IQ?
IQ price today is 0.006 USD. Furthermore, the price of IQ has fluctuated by -1.64% from 24 hours ago, and by -8.36% from a week ago.
Where is IQ listed?
Currently, it is listed on a total of 2 among the world top 10 exchanges.
What is the market cap of IQ now?
Currently, IQ has a market cap of 85,272,222 USD, which is ranking 382 among cryptocurrencies worldwide.
How much is the trade volume of IQ?
Currently, 19,446,426,346 IQ coins are circulating through 101 market pairs. As a result, in the last 24 hours, 3,493,342 USD of IQ coins were traded in the market.
