crypto project

Everything You Need To Know About Paribus (PBX)

Daksh Murkute | | |

It works on the motto which says, if any assets can be verified, it can be sold,

If it can be sold, there is intrinsic value,

If there is a value, this value can be leveraged.

 

And to prove that motto Paribus came into the market to leverage the crypto assets which are untapped and untouched by the traditional DeFi market for a very long time.

 

The ultimate goal of the Paribus is to give life to the motionless, lifeless crypto assets which are available across the entire crypto market.

 

Well, Paribus has identified opportunities in a number of areas, such as Liquidity positions, synthetic assets, digital art, virtual land, music, crypto-collectibles, etc.

 

In this blog, I am going to tell you everything about Paribus and its utility token PBX.

In this blog

 

What is Paribus?

How Paribus works?

What makes Paribus unique?

Services provided by Paribus

How do I buy PBX tokens?

Is Paribus a good investment?

Why should I invest in Paribus?

 

 Decentralized finance, Yes, that's the term that has gained worldwide popularity in recent years, and over the years it has opened a whole new set of windows, or perhaps I should say a new gate of possibilities in the digital world's horizon.

 

And with each passing day, DeFi has expanded and achieved all new heights, and it is now an unstoppable force that has comprised everything in its path.

 

But there is a problem with this; from the starting of the DeFi, we are exploring only just one aspect of it, which is cryptocurrencies, and we have kept our eyes closed for the rest of the crypto assets.

 

The need of the hour is, we should explore the other untapped aspects which are currently untouched in this vast digital world.

 

And to do that a new project came to light in the Cardano blockchain, named Paribus.

 

What is Paribus?

What is Paribus??

Paribus is the world's first cross-chain lending and borrowing platform, it is the first of its kind. Paribus is poised to be the industry leader in unlocking and fully realizing the intrinsic value of NFTs and other unconventional assets, and the company has already begun this process. 

 

It works on the motto which says,

 

  • If any assets can be verified, it can be sold,

  • If it can be sold, there is intrinsic value,

  • If there is a value, this value can be leveraged.

 

And to prove that motto Paribus came into the market to leverage the crypto assets which are untapped and untouched by the traditional DeFi market for a very long time.

 


How Paribus works?

How Paribus works??

Paribus makes use of a sophisticated dynamic interest rate algorithm to calculate the interest rates of the unconventional assets they have planned to include.

 

They hope to achieve liquidity across chains for a diverse range of conventional and unconventional digital assets, including liquidity positions, synthetics, virtual land, and non-fungible tokens (NFTs).

 

The ultimate goal of Paribus is to use motionless on-chain value to benefit the entire crypto market as a whole.

 

Because of the introduction of DeFi primitives to the blockchain, traditional investment is being re-thought, as new utilities are being created based on principles that have remained unchanged for decades. Following are some of the areas where Paribus has identified opportunities:

 

  • Liquidity positions

  • Virtual Land

  • Digital Art

  • Music

  • Crypto collectibles

  • Domain names

  • Smart contracts insurance policies
     

Paribus came with its own utility token named PBX.
 

PBX has three primary use cases, 
 

1. There will be an interest rate for those who are PBX holders,

2. Reward sharing, any PBX holders taking part in the liquidity program of Paribus will get a share of the rewards earned by the protocol

3. Governance, PBX holders will be able to create votes and implement improvement proposals.

 

And with time Paribus will add more and more additional functionalities to it, for now, they have added one more functionality to it and that is, the PBX token will now be deflationary. I will tell you more about it later. 


What makes Paribus unique?


Paribus is unique in terms of the collateral that they intend to make available on their platform.

 

They will initially provide only standard assets, but soon they will quickly add the functionality to allow for the use of pooled unconventional assets such as liquidity positions, NFTs, virtual land, and synthetics to be traded on their system in the future. 

 

Because they are cross-chain, they will be able to use liquidity from a variety of blockchains, which will provide their users with a greater pool of liquidity from which to draw.


Services provided by Paribus

services provided by the Paribus


Because of the nature of decentralization and decentralized autonomous organization (DAO) projects, as well as the spirit of open source development, all of Paribus' source code will be made publicly available and free to use following audits and rigorous testing. 

 

Naturally, Paribus will carry over all of the de facto standards for decentralized applications, such as being non-custodial, trustless, permissionless, and of course, censorship-resistant, that have emerged over time. 

 

For now, they have identified a number of fundamental applications under Paribus, which are listed below:
 

  • NFT collateral-based loans 

  • NFT Staking 

  •  P2P and Pooled Lending   

  • LP collateral-based loans  

  • LP staking 

  • PBX token profit sharing 


How do I buy PBX tokens?

?
The process to buy a PBX token is simple, you can buy it from all the exchanges in which it is available, for now, it has available in Kucoin and Unisex, you have to download the application of those exchanges and have to follow certain instructions, after that you can buy PBX token.

 

Is Paribus a good investment?


In spite of the fact that the market support for NFTs is growing asymmetrically, they and other crypto assets deserve to have a seat at the DeFi table. Holders of these new and verifiable crypto assets like NFTs and synthetic assets will benefit from the lending and leasing markets, which will generate income for the lenders and leasing companies.

 

Paribus believes that, given enough time, the NFT markets will achieve a fair market value and become as liquid as the majority of tradeable digital assets.

 

And with time it will certainly grow in the upward direction very fast.

 

Also Read: Guide to investing in Zilliqa


Why should I invest in Paribus?


At this moment when I am writing this blog, the PBX price is 0.025 dollars and the rank of this coin is #1059 with a market cap of $12 million, it has a circulating supply of 506 million PBX coins, total supply is 10 million and the max supply will be available soon. 

 

But it has all this achieved in the short span of just a few months. It is a one-of-kind blockchain that has certainly a booming potential. 

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