WHAT IS PARIBUS (PBX)
A protocol called Paribus (PBX) uses cross-chain decentralized finance (DeFi) which aims to release the elementary liquidity for a variety of traditional and nontraditional digital assets.
Paribus, on the other hand, is powered by Cardano, allowing this protocol to remain chain agnostic and connect several assets across different blockchains at once. Moreover, Cardano is a proof-of-stake blockchain program.
The platform's goals include enabling low-cost transactions, incredibly high throughput, security, and dependability for high-value transfers, as well as a thriving DApp ecosystem. To strengthen its value proposition as the Defi protocols on the Cardano blockchain, Paribus tries to offer several features. Due to the nature of Cardano, Paribus seeks to use and improve the ability to unlock liquidity across a variety of assets by insolvency. The asset also aims to support Synthetics, NFTs, Virtual Land, and LP tokens. Moreover, the platform strives to adopt all of the DApp standards, including censorship friction and being trustless, non-custodial, and permissionless.
The following characteristics of the platform are intended: synthetic assets that boost capital efficiency or investment flexibility can be lent, borrowed from, or staked. NFT staking and collateral-based loans are two additional features the platform hopes to have, both of which allow users to profit from their assets.
Several different user types make up this network.
1. Lenders are the first to mention because they are the foundation of any DeFi platform and are frequently referred to as holders in the cryptocurrency world. With its underlying assets appreciating in value over time, Paribus aims to provide additional opportunities for lenders to generate passive income.
2. The second group are borrowers which aims to run a platform for collateralized loans only. To borrow against assets, borrowers must deposit those assets.
With the help of Paribus' native governance token, users can draft and decide on protocol-related proposals. The ultimate objective of the token is to codify harmony among the stakeholders while aligning incentives across its yield protocol. Additionally, PBX owners have a right to a portion of the fees that the protocol generates based on their stake.
Get more information ℹ️ below;
Official website: https://paribus.io/
Official Twitter: https://twitter.com/paribus_io
Telegram group: https://t.me/paribus_io
Announcement channel: https://t.me/paribusannouncements
$PBX trader group: https://t.me/pbxtraders
YouTube channel: https://www.youtube.com/channel/UCXAD4onOmiDWLGxTeekx4kQ
Coin gecko: https://www.coingecko.com/en/coins/paribus