WHO ARE THE PARIBUS (PBX)
Cross-chain decentralized financing (DeFi) is used by the Paribus (PBX) protocol, which intends to release the basic liquidity for a variety of conventional and unconventional digital assets.
On the other side, Paribus is powered by Cardano, enabling this protocol to remain chain independent and link many assets across various blockchains simultaneously. Cardano is a blockchain platform that uses proof-of-stake as well.
A robust DApp ecosystem, low-cost transactions, extremely high throughput, security, and dependability for big-value transfers are all objectives of the platform. Paribus seeks to provide a number of capabilities to improve its value proposition as the Defi protocols on the Cardano blockchain. Due to the characteristics of Cardano, Paribus aims to exploit and enhance the capacity to release liquidity by insolvency across a range of assets. Additional support for Synthetics, NFTs, Virtual Land, and LP tokens is a goal of the asset. Furthermore, the platform aims to implement all DApp criteria, such as censorship friction and being trustless, non-custodial, and permissionless.
The platform is designed to have the following features: It is possible to lend, borrow from, or stake synthetic assets that increase capital efficiency or investment flexibility. The company also wants to incorporate NFT staking and collateral-based lending, which both let users make money off of their assets.
This network is composed of a variety of user kinds.
1. Since they form the basis of any DeFi platform and are frequently referred to as holders in the cryptocurrency world, lenders are the first group to be mentioned. Paribus seeks to expand chances for lenders to make passive income by the underlying assets' appreciation in value over time.
2. The second group consists of borrowers who want to operate a platform that accepts only collateralized loans. Borrowers can use their assets as collateral to take out loans.
Users can create and vote on protocol-related proposals using the native governance token of Paribus. The token’s ultimate goal is to formalize cooperation between the stakeholders while coordinating incentives across its yield protocol. Additionally, based on their interest, owners of PBXs are entitled to a share of the fees that the protocol earns.
The cross-chain Paribus protocol can be used to lend and borrow digital assets. This protocol’s engine is precisely Cardano’s blockchain technology.
The protocol helps Defi infrastructure users by providing a platform for better access to digital assets and increased income potential.
Announcement channel: https://lnkd.in/dthyiQRE
$PBX trader group: https://t.me/pbxtraders
