$PBX TOKEN
The Paribus ecosystem's native token, $PBX, is the primary focus of protocol governance because its holders are required to stake multiple funds in the pool. The development team received the majority of the token supply at the token launch, giving them greater network control.
However, Paribus intends to construct its infrastructure for the Decentralized Autonomous Organization (DAO) within the next four years, as stated in the project's roadmap. The $PBX token holders will acquire control of the system's operations following this milestone. Offering every network member the opportunity to contribute to the overall development and decision-making process is the primary objective of $PBX token governance. In the borrowing and lending protocol, where asset security is a top priority for the project, holders of Paribus tokens can take on the roles of participant, investor, or trader.
Additionally, the $PBX token holders have access to a pool of passive income through the platform. $PBX token holders can stake their on-chain assets to earn a share of the protocol's revenue by implementing a tiered system. Since the number of rewards a user receives is proportional to the amount staked, more $PBX tokens staked on the network will result in a higher return percentage. As a consequence of this, people lock up their assets, creating scarcity and increasing token value.
PARIBUS PURSUIT Paribus is a decentralized cross-chain finance protocol that aims to open up underlying liquidity for a wide range of conventional and unconventional digital assets.
Users will be able to easily and freely participate in this financial revolution thanks to Paribus, a consolidated location. Paribus is building upon what has been built and continuing to iterate forward in the face of existing opportunities. In anticipation of demand, Paribus will endeavor to offer a wide range of features that will ultimately add strength to its value proposition as one of the earliest DeFi protocols on Cardano blockchain due to its nature and ability to plug into existing blockchains. To date, Dexes and lending platforms have led the charge, while exotics are slowly gaining traction.
By default, Paribus will use and expand this capability to unlock liquidity across a variety of asset chains. The following are some of the assets Paribus will support: Synthetics, NFTs, Virtual Lands, and, of course, more conventional assets like ADA, ETH, and DOT.
Non-fungible Tokens (NFTs) have gained a lot of popularity, and demand for these digital assets is growing at an exponential rate while mainstream media attention is being paid to them. New opportunities and challenges arise when assets of value can be tokenized, regardless of their physical appearance or characteristics. With improved liquidity and options to utilize this economic strength without having to sell the NFT outright, Paribus hopes to address one of these issues and increase the tokens' economic value. Owners of NFTs will be able to use collateralized loans secured by their NFT assets to fund additional ventures like; investing, trading, and more.
In a recent Decentraland sale, land sold for as much as $900,000, demonstrating the growing popularity of virtual land. It quickly emerges as an intriguing asset class for DeFi protocols to be able to support as demand for these assets rises in tandem with VR industry innovations. Paribus proposes a set of Smart Contracts that enable collateralization with Virtual Lands to address precisely this issue. Given that the Cardano ecosystem is still in its infancy and there are no agreed-upon standards for this kind of asset, Paribus will contribute ideas that will help unlock liquidity through borrowing and lending from these assets. One area in which we intend to innovate and incorporate NFT standards for Virtual Lands is metadata.
Through platforms like Synthetix and Uniswap, synthetics and LP Tokens are an additional dimension that has quickly gained popularity. With both assets, wealth generation continues to rise. We believe that a new generation of cryptocurrency investors, some of whom will eventually become knowledgeable DeFi users, will emerge as cryptocurrency demand and user base expand. Paribus will develop a product line for borrowing and lending to further leverage the underlying assets in order to serve more sophisticated use cases with Synthetics and LP tokens.
The native $PBX token will fully incorporate the aforementioned products. Through our planned DAO structure, $PBX will enable a reduced fee structure for all of our products, profit sharing for liquidity providers and stakeholder groups, and, of course, the ability to govern.
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