IQ v3 is an update and vision document that outlines BrainDAO’s plan for growing the IQ ecosystem by further integrating artificial intelligence. IQ v3 involves updates to existing products like IQ.wiki and IQ GPT and to IQ tokenomics. It also involves the launch of new products like IQ.social and upcoming products like IQ Code.^[1][2][3]

Overview

With IQ v3, the BrainDAO team plans on continuing to build out the IQ ecosystem. The aim is to expand IQ.wiki and IQ GPT as well as launch new products like IQ Code, the first AI tool for coding for blockchain languages like Solidity and Vyper, and IQ.social, the first AI-powered hub for crypto news which is already live.^[1]

IQ v3 release on November 1, 2023, marks the day of IQ token's halvening event, reducing token emissions by half. Like with Bitcoin and Ethereum, the halvening was designed to reduce inflation and make the token more sustainable in the long run.^[1]

Another aspect of IQ v3 is improving IQ tokenomics. BrainDAO is working on building a new gauges system to improve the utility of the IQ token in decentralized finance.^[1]

Products & Services

IQ Code

IQ Code is an upcoming smart contract coding tool with AI features tailored for smart contracts. It functions as a Solidity advisor, aiming to improve coding efficiency and code quality. The tool provides explanations in markdown format about the generated code's functionality. As the first AI model tailored for coding smart contracts, it offers capabilities for auditing smart contracts, generating vulnerability reports, and assisting developers in code verification and speed.^[1]

IQ.social

IQ.social is an AI-powered social forum designed to enhance users' knowledge and awareness of the cryptocurrency and blockchain industry. IQ.social was announced and launched as part of the IQ v3 update in November 2023.^[1][3]

IQ GPT & AIQChatBot

After its launch in August 2023, IQ GPT integrated contents and data sets from platforms such as IQ.wiki's database, DeFiLlama, Frax Docs, Binance Academy, DeFi Protocol Documentations, The Associated Press News, CoinGecko, Flywheel DeFi, BlockBeats, InvestHK and CoinNess.^[1][2]

In November 2023, as part of the IQ v3 vision, the BrainDAO team unveiled the AIQChatBot. The tool is designed to assist Telegram and Discord communities involved in cryptocurrency, DeFi, NFTs, and related topics.^[1][2]

IQ.wiki

IQ.wiki added ranked lists to its functionality where the team covers not only the top cryptocurrencies but also their founders. IQ.wiki’s rankings combine CoinMarketCap’s price data with in-depth wiki articles covering top cryptocurrencies and their founders in all categories from stablecoins to AI.^[1]

In 2024, the team is planning to continue to build on IQ.wiki’s thousands of articles and integrate its content across the cryptocurrency space. In 2023, IQ.wiki established a partnership with Bond Protocol to integrate the wikis into their bond marketplace. Furthermore, many prominent DeFi protocols, including Ramses Exchange, Frax Finance, Lodestar Finance, and ZeroLiquid, have integrated their IQ.wiki page into their respective landing pages.^[1]

BrainPass

BrainPass is set to be introduced in 2024 as a part of the expanding IQ ecosystem, aimed at amplifying the utility of the IQ token. It will be structured as a subscription service, granting individuals and organizations improved access and enhanced features across a spectrum of AI tools in the ecosystem.^[1]

Subscribers of BrainPass will gain access to enhanced features for services such as IQ GPT, IQ Code, and IQ.social as well as editing privileges on IQ.wiki. Enhanced features for services like IQ GPT may encompass increased rate limits and access to forthcoming integrations related to blockchain and cryptocurrency market data. Additionally, BrainPass membership gives access to specialized integrations like Telegram and Discord bots for eligible project team members in the ecosystem, with eventual exclusive access for projects that engage in IQ staking.^[1]

IQ Gauges

BrainDAO is developing the IQ Gauges system to determine which projects will receive part of the token emissions. Inspired by Curve Wars’ impact on Frax, IQ Gauges aims to enhance the IQ token's value by encouraging projects to direct emissions to their respective token pairs. IQ Gauges will also integrate a vote market, allowing HiIQ stakers to participate in voting, with potential incentives from projects seeking favorable votes.^[1]

Since IQ gauge emissions are fixed and halve annually, governance can decide to allocate part of the protocol's cash flows or IQ tokens to gauge rewards in the future. This assurance encourages HiIQ stakers to lock their tokens for up to 4 years. Users who stake their tokens in a gauge contract can earn higher annual percentage rates (APR) based on their HiIQ holdings. Additionally, those who lock their deposited tokens for a specific duration receive an extra boost, allowing them to stack both boosts to maximize their APR.^[1]

Tokenomics

Halvening

In October of 2022, the IQIP-14: ‘New IQ Tokenomics for the New IQ.wiki Platform’ governance proposal passed with overwhelming support implementing a new tokenomics for IQ starting on November 1, 2023. This proposal and the halvening tokenomics design were made to ensure the rapid growth of the IQ token with the launch of the new IQ.wiki site. The team proposed using the halvening model like Bitcoin and FXS which provides higher initial emissions to incentivize early adopters and gradually lowers emissions to ensure long-term sustainability.^[4]

The first halvening took place on November 1, 2023, the same date that the BrainDAO team announced IQ v3. As part of IQ v3, the team proposed further lowering inflation by reducing the amount of IQ allocated to the TWAMM to obtain stablecoins and blue-chip assets. With the BrainDAO treasury stablecoin holdings increasing along with higher than expected yields through sFRAX they were able to propose this reduction in IQ allocated to the TWAMM. The proposal involved reducing the allocation from 2,166,667 IQ to 2,000,000 IQ post-halvening.^[5]

Community and Ecosystem Building in Asia

In 2024, IQ.wiki plans to expand its presence in Asia through a strategic plan focused on increased participation in conferences and diverse industry events, such as Upbit’s Developer Conference in Seoul, South Korea, HK Web3 Month in Hong Kong, and Thailand Blockchain Week in Bangkok, Thailand. Andy Cho, the Director of Business Development at IQ.wiki will be speaking at the HK Web 3 Month and Thailand Blockchain Week about IQ.wiki and its AI vision. The team would also work on securing new strategic partnerships and facilitating broader accessibility to IQ token through additional listings on Asian and global exchanges.