Crypto holders know that owning cryptocurrencies is very different from owning fiat. While both open countless doors for holders, their functionalities are very different. People who have fiat currencies in their possession are able to use them to satisfy a wide range of human needs — from basic to those on the top of Maslow’s pyramid — but crypto is not quite there yet.
The problem with crypto is, while it can be used to provide food and shelter, typically it needs first to be converted into fiat — via crypto wallets and DeFi debit cards like Eidoo. Nevertheless, it offers a lot to those aiming a bit higher than only satisfying their immediate needs, including greater potential for value acquisition and wealth accrual.
In that sense, there are plenty of DeFi services available to masses of crypto holders via a progressively decentralized platform like pNetwork, such as crypto asset lending and borrowing, banking, access to previously inaccessible financial markets, etc.
Given that its focus is on cross-chain composability, pNetwork’s potential — together with that of its flagship feature project pTokens — is infinite.
It is the essential component enabling interoperability between various different DeFi solutions, meaning that it is able to transcend boundaries and transcend limitations that exist within and are attributed to individual blockchains, such as scalability and diverse solution availability issues.
By doing that, it enables the free flow of digital assets between different exchanges, dApps, and wallets, and contributes to ultimately creating the perfect decentralized financial system with universally functional DeFi services for holders of all existing tokens.
Therefore, not only are users able to hold, lend, and stake a variety of supported tokens, they are also in a unique position to swap them across five different blockchains featuring 26 pTokens bridges. And the numbers keep rising.
Those include the following blockchains:
Moreover, those cover the following pTokens bridges:
- pBTC on ETH, EOS, Telos
- pLTC on ETH, EOS
- pETH on EOS
- PNT on EOS
- pMKR, pYFI, pLINK, pUNI, pOMG, pBAL, pCOMP, pBAND on EOS
- pDOGE on ETH
All of these ensure that pTokens holders have unrestricted access to decentralized lending platforms — and by extension, the best DeFi services — where they are able to tap into the liquidity of external cryptocurrencies and tokens.
By the same token, given that DeFi protocols are limited to the native assets of the blockchains they are built on, pTokens have the ability to overcome those restrictions for their holders. In other words, they are unlocking access to assets from the entire crypto space.
Furthermore, for those who want to use their ownership of cryptocurrency to show their passion and commitment to a project like pNetwork, they can become node operators by acquiring and staking their PNT (pNetwork tokens).
This means that they are invested in the project’s success and enabling its sustainability by supporting pTokens peg-ins and peg-outs, and are rewarded with assets gathered from peg-ins/outs fees.
Thus, pTokens are used to incentivize pNetwork participants acting as an integral part of the chain in the long run.
Moreover, those who want to make the best of the available DeFi services can participate in the pNetwork DAO by staking PNT and taking part in the success of the project. While the staked tokens are locked for the duration of two years, DAO voters are rewarded for their participation in managing and governing the project — in the first year, with over 42% of the initial stake, and over 21% in the second.
With pNetwork, not only is the system of governance in the hands of the community, the community is constantly incentivized to participate by earning while expanding the network of available DeFi services.
So everything is geared towards members getting value without giving their crypto away. Isn’t that what we all want from a decentralized system?
🔗 For any blockchain project looking to integrate pTokens into their infrastructure, we have also built a pTokens JS library.
💌 Excited about pNetwork? Sign up for our newsletter and be the first to know which blockchain pTokens will make their home in next.