Paribus launches DeFi platform to allow users to borrow against digital assets | Your money
MIAMI, March 14, 2022 (GLOBE NEWSWIRE) — Paribus is taking DeFi to the next level with the help of Cardano. Cardano’s interoperability removes the restrictions imposed by the isolated ecosystem, allows value to flow freely, and increases the potential of the protocol and its users. Being powered by Cardano, users can now borrow against their digital assets with a DeFi perspective. Be it NFTs or any other synthetic asset, Paribus offers users the platform for safe and fast borrowing on their digital assets.
The Paris Protocol
Paribus offers DeFi holders and investors a platform to extend the reach of their digital assets and positions around the world. For the first time, one platform brings together borrowing and lending functionality against a wide variety of assets, in a decentralized, permissionless way.
Paribus’ functionality and protocol are designed to scale with new crypto asset classes, capturing the value stored in the emerging universe of interconnected blockchains. The Paribus Protocol aims to channel this monetary energy in ways previously impossible, creating even more opportunities for investors.
Combine NFT and DeFi
With Paribus, users can even borrow against their NFT investment. This will free up capital while the underlying NFT will keep its value intact. Paribus also allows users to stake NFTs with pool value with other similar NFTs, allowing users to earn a return on their NFT assets.
In addition to NFTs, users can also borrow against their AMM liquidity positions via the Paribus protocol. This will allow users to leverage while staking or earning through LP’ing.
Participation in liquidity pools
With Paribus, users have access to market-specific staking pools for LP tokens from multiple blockchain-based liquidity pools, which provides the following benefits:
Cheap transactions Incredibly high throughput Security and reliability
Paribus now offers native staking for the PBX token on its platform, offering dynamic APY and high rewards. There are two pools that remain open, Argenti and Aurum. These pools are only open for a limited time.
The PBX token
PBX is the native governance token of Paris. PBX allows its owners to create and vote on the future of the network. The ultimate goal of PBX tokens is to coordinate incentives across the Paribus revenue protocol to create systematic harmony between stakeholder security, the protocol itself, and internal assets. The owners of the PBX tokens are also entitled to receive a percentage of the fees earned through the protocol in proportion to their stakes. The more users bet, the higher their level and the higher the percentage they win.
For more information on how Paribus is pioneering borrowing in the DeFi space, visit their website here.
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PARIBUS is the source of this content. This press release is for informational purposes only. The information does not constitute investment advice or an investment offer.
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