AN OVERVIEW OF PARIBUS
For the Cardano blockchain, Paribus is a cross-chain borrowing and lending protocol for NFTs, liquidity positions, and synthetic assets. It has a special automated tracking service that enables customers to receive automatic refunds when prices on their most recent purchases decrease.
Paribus' goal is to realize the full potential of these assets by transforming them into interoperable financial instruments that can be used within DeFi protocols on any chain. Paribus is a cross-chain decentralized finance protocol that aims to release underlying liquidity for a variety of conventional and unconventional digital assets.
The protocol known as Paribus unites all of these elements by providing DeFi holders and investors with a platform to expand the use of their digital assets and positions and hence increase their earning potential.
The Paribus algorithm calculates how many tokens must be burned from our ecosystem based on the amount of PBX exchanged on all marketplaces. We achieve this by transferring the tokens to an unreachable null wallet.
This method makes sure that over time, an increasing number of tokens are permanently eliminated from the ecosystem. The tokens to be burned will be produced from transaction fees after the Paribus MVP is launched, gradually lowering the amount of tokens in circulation. This amount of PBX will change as trading activity and the algorithm change to safeguard the ecosystem's worth.
Functionality and Protocol
The features and protocol of Paribus are built to change as new crypto asset classes emerge, maximizing the value held in the new universe of interconnected blockchains. .
- Lend, borrow or stake synthetic assets…
Increasing capital efficiency or investment flexibility, across any chain. - NFT collateral-based loans….
Borrow against your investment, freeing up your capital while the underlying NFT appreciates in value. - Metaverse Integration..
Unlock the liquidity locked into your metaverse plots and assets. - LP collateral-based loans..
Borrow against your AMM liquidity positions, allowing you to leverage up while staking or earning through LP’ing - PBX token profit sharing…
Earn a percentage of fees collected by the network, based on a tiered staking model. visit website >> Paribus.io for more
The PBX Token
The native governance token of Paribus, PBX, enables holders to draft and decide on protocol-related proposals. The ultimate objective of the PBX token is to align the Paribus yield protocol’s incentives, resulting in a codified harmony between stakeholders, the protocol, and the security of the assets it contains.
In addition, holders of PBX tokens are qualified to receive a portion of the protocol’s fees based on their holdings. The more the tier and the greater the percentage achieved, the higher the stake.
How to take out a loan from Paribus
- To take out a loan or borrow funds, first go to the Markets section.
- Navigate to the desired token you want to take the Ioan from.
- Then select “See Details”
- Under the graph, there will be a details section for that specific token.
- Select the “hand receiving an arrow” icon next to Assets Borrowed.
- From there, type the quantity of token you want to add. Note, when adding token amounts less than 1, please add a 0 before the decimal, ie 0.4.
Lastly, click the large Borrow button to complete the transaction. A pop up from your wallet may also appear, follow any prompts on your wallet to receive the tokens.
