Paribus

Paribus

PBX
$0.001672837%-6.59

Key Metrics

Price$0.001672837
Real Volume (24H)$270,060.36
Marketcap$12,044,211.66
Fully Diluted Valuation$8,486,233
ATH$0.04194925
ATH Date10/31/2021, 9:41:49 AM
ATL$0.00055482
ATL Date11/23/2022, 1:25:20 AM
Circulating Supply4.7B
Total Supply9.5B
WebsiteN/A
WhitepaperN/A
Popularity Rank1235
Chart
What is Paribus?

Paribus (PBX) is a cross-chain decentralized finance (DeFi) protocol that aims to unlock liquidity for a wide range of digital assets, both conventional and nonconventional. The platform's primary focus, as outlined in its whitepaper, is to explore and develop financial tools and products for non-fungible tokens (NFTs). Powered by Cardano, Paribus leverages the capabilities of this blockchain platform to remain chain agnostic and facilitate the seamless connection of assets across multiple blockchains. Cardano operates on a proof-of-stake consensus mechanism, providing cheap transactions, high throughput, and robust security and reliability for high-value transfers and DApp ecosystem development.

Paribus offers a host of features that contribute to its value proposition as a DeFi protocol on the Cardano blockchain. By default, thanks to Cardano's nature, Paribus aims to utilize and expand the ability to unlock liquidity across a diverse spectrum of assets. The platform also seeks to support NFTs, Virtual Land, Synthetics, and LP tokens. Furthermore, Paribus embraces the core tenets of DApps, including trustlessness, noncustodial control, permissionless access, and censorship resistance. The platform provides opportunities for users to lend, borrow, stake synthetic assets, and increase capital efficiency and investment flexibility. Additionally, Paribus envisions introducing innovative features such as NFT collateral-based loans and NFT staking, enabling users to earn yields on their assets.

The Paribus network consists of various user types. Lenders, often referred to as holders in the cryptocurrency space, play a pivotal role in any DeFi platform. Paribus serves as an additional avenue for lenders to generate passive income as the value of their underlying assets appreciates over time. On the other hand, borrowers engage with Paribus strictly as a collateralized loan platform, requiring them to deposit assets as collateral in order to borrow against them.

To facilitate governance and align the incentives within the yield protocol, Paribus has introduced its native governance token. PBX token holders possess the ability to create and vote on proposals related to protocol governance. The ultimate aim of the token is to harmonize the interests of stakeholders and establish a codified framework that governs the protocol. Additionally, PBX holders are entitled to a percentage of the fees earned by the protocol, in proportion to their stake.

Paribus is led by CEO Deniz Dalkilic, an entrepreneur with a passion for expanding the boundaries of blockchain technology and exploring its potential. Supporting him is COO Wilson Davis, a seasoned financial specialist and business development expert, bringing a multifaceted perspective to the team.

In conclusion, Paribus (PBX) is a cross-chain DeFi protocol built on Cardano that aims to unlock liquidity for various digital assets. With a focus on NFTs and a commitment to the principles of decentralization, Paribus offers a range of features that cater to lenders, borrowers, and stakeholders alike. By leveraging Cardano's capabilities and implementing its native governance token, Paribus paves the way for a thriving DeFi ecosystem on the Cardano blockchain. Join Paribus today and explore the limitless possibilities of unlocking liquidity across chains.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.

Try for Free

Top Assets

AssetPrice24HMcap
Loading...

We use cookies for personalization, social media, and analytics, and share usage data with partners.