VA, USA, Aug. 9, 2022 — (ACN Newswire) — DeFi protocol Paribus has announced the launch of Testnet MVP, the beginning of a new approach to DeFi. Secure, trustless and truly decentralized, Paribus users will be able to borrow against previously illiquid digital assets such as NFTs.
Simply put, Paribus is a cross-chain DeFi borrowing and lending protocol. It has the unique selling point of being able to use exotic assets such as NFTs, LP tokens, virtual land, synthetics, etc. as collateral for loans. The platform also utilizes standard crypto assets. Being cross-chain, Paribus is on multiple chains, but built for the Cardano ecosystem, it accesses blockchains through sidechains.
Paribus is focused on evolving on new digital asset classes and recently launched a testnet MVP for the platform. Their testnet MVP features traditional borrowing and lending using standard crypto assets for members participating in Paribus’ staking program.
Paribus currently offers staking in its gold staking pool. Gold Pool Aurum allows a user to wager his 1,000,000 to 6,000,000 PBX for his 365 days (less than 5 months left) with a minimum of 30% of her APY reward level. As APY is dynamic, the reward can increase and is currently at 31%.
There is a growing need for both interoperability and the ability to borrow on exotic assets like DeFi’s NFTs. The NFT space is growing, institutional investors are interested in the potential of cryptocurrencies, and the industry is growing exponentially every day. Paribus plans to become his DeFi lending platform, leveraging its technology and security to provide a balanced experience for its users. Their full MVP launch includes an APY boost and attractive rates and returns for users.
This is just the beginning of the Paribus roadmap. With steady growth, strong fundamentals, and a team that believes in delivering new levels of security to users, Paribus brings much-needed legitimacy to his DeFi borrowing.
Paribus tokens (PBX) are currently traded on KuCoin, Gateio, Uniswap, Orion Protocol and ZT Exchange.
More about Paribus: https://paribus.io
Source: Plato Data Intelligence: https://platodata.io
Source: Paribus
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