Welcome to the fourth in our introductory series on the Panjea platform. By now you should be getting a feel for the on-site mechanics as well as some of the underlying tokenomics. Take a look back through the archives if this is your first time, as this article probably won’t mean that much to you without the context from the others in the series.
This time out we look at the decentralised financial systems that allow Panjea’s users to retain autonomy, whilst freeing the system from reliance on exchanges and other financial platforms that could expose the audience to unnecessary risks.
As with all of our innovations, the liquidity pools have been designed from long time crypto experts who have been exposed to both the risks and benefits of this approach, allowing us to create a robust framework that achieves our dual aims of retaining liquidity and protecting the value and security of users’ tokens.
A Brief History of Tech…
If you’re following the Panjea story, then let us add another chapter. Once we had decided to create our own tokenomics, it was vital that we could back this up with a functioning financial system that enables peer-to-peer transactions. And thus allowing our users to not only earn tokens, but personally prosper from Panjea.
In many ways the story of the world today is not only about wresting power from the hands of the corporate centralised authorities. Panjea represents an attempt to try to win some autonomy back into the hands of the people — generating a self-sustaining financial system that facilitates the independence of our creators, curators and supporters.
Money is one of the oldest technologies used by humanity. In many ways it has not evolved since the days of the Babylonian bankers. Cryptocurrency represents a technological shift in our financial systems — with Panjea positioned to be a pioneer on this bold new horizon.
Defining DeFi…
In short, DeFi is Decentralised Finance — it enables cryptocurrency based transactions, the exchange of digital assets and services, and financial products. At the core of DeFi is the concept that there should be no centralised authority dictating operations and the flow of capital. Instead reliance is placed on a trustless system backed by smart contracts — which means the system is protected from some of the risks associated with traditional centralised banking.
Your Finances, Your Choice
Over the past 18 months the world has become all too aware of the problems with centralised exchanges. Media sources have focused in on the failures of FTX, which is at the tip of the iceberg when it comes to the large number of tales of exploits and hacking.
Panjea is committed to protecting its users from vulnerability — which means we will provide our own liquidity pools. One of the maxims that our founders live by is ‘not your keys, not your coins’, because for us, cryptocurrency is about achieving financial freedom, whilst not having to rely on any banks or other authorities. Many new tokens are also at the mercy of centralised exchanges (CEX) creating reliance on a third party that has no ‘skin in the game’. Such entities will often charge heavy listing fees for simply providing a marketplace, which ultimately impacts the growth of user’s tokens.
Our commitment to creator wealth had to be reflected in our DeFi choices. Our own liquidity pools are the best way to facilitate this promise.
Keepin’ It Liquid…
As stated, liquidity pools are our chosen method of decoupling Panjea’s reliance on centralised networks and crypto exchanges. Users simply send their tokens to a smart contract meaning they only have to trust the code, instead of putting their faith in the administrators of a large network. Without a single authority there is no single point of failure.
This means that we can provide liquidity in the following manner. At launch we will have 3 or 4 different pools (there will be a community vote on which pairs are preferred) to facilitate coin swaps into PANJ — allowing users to both interact with the network and withdraw funds.
Do You Yield, Sir…
If you hold PANJ, then we provide the option for you to lend it back to our liquidity pools, allowing you to farm yield. Over the first four years of Panjea’s expansion we have marked 10m PANJ (emitted 4m year one, 3m year two, 2m year three, and 1m year four) as rewards for our lenders.
This allows us to strengthen the on-site liquidity pools, preventing slippage and losses when buying and selling PANJ. It also benefits those who choose to become long term investors in the network, incentivising them for their faith in the growing community.
Panjea Needs You
Panjea is still in its early stages of development. We’re currently holding interviews for our first tranche of creators — people who are edgy, innovative and want to do something different.
We want those who are inspired by the vision, ready for the difference and hungry for an opportunity to open the web up again to the thinkers, dreamers and doers. We’re setting up an off-site community who are ready for the first day of live action… Contact us through our social channels or emails on the website.
If you share this vision of the internet and this message is resonating with you — then perhaps Panjea might be the right place for you to call home. Find out more at our website https://panjea.io/
