What is Paribus?
Paribus is actually a lot of things or at least it aims to be a lot of things. Paribus looks to squeeze the value of on-chain assets by allowing you to do more with them.
They aren’t just talking about a fancy marketplace either – they are talking about using NFTs as collateral for loans.
That’s not all they have up their sleeves either… They are bringing
NFT and LP STaking – allowing its users to earn a yield
Token Profit Sharing – allowing users who stake PBX Tokens to collect a portion of the network fees
NFT and LP Collateral-Based Loans – You heard that right. Take out a loan and stake your NFTs in the place of cold hard cash, houses, or any other assets.
The name of the game here is INTEROPERABILITY and the horse Paribus chose to ride in on is CARDANO.
Cardano has very few projects on its chain and that is mostly due to the fact they only just added the capabilities of Smart Contracts. Cardano Smart Contracts will likely be written on Plutus which has a Haskell framework, to begin with. What this all means is SAFETY in code.
A Smart Contract is a piece of code that can auto-execute an agreement between parties without the need for a middle man. By design, they are built to be binding and unchangeable, this helps to make them safe and secure and add confidence in the agreement between parties.
Cardano is well known for its interoperability between chains and that is was stood out to Paribus. The idea is that you can have super secure smart contracts on a very fast and very cheap chain with the ability to not isolate yourself to only work with chains on Cardano.
The use-case here is extremely important and the timing really couldn’t be any better. NFTs are on fire at the moment and with the rise and fall of WAX, the insane ETH Gas prices, and the popularity of things like FLOW, SOL, and FTM – Now really is a perfect time.
Imagine making money on your collection and then being able to borrow against your NFT collection to allow you to buy more collectibles? It’s the circle of life in the DeFi world.
PBX – the native token to Paribus will be used for staking and governance. From listing on Kucoin, the coin has moved 8483% to reach an ATH two days ago at $0.025750.
For PBX to reach $0.10 – we’d be looking at a 630% move from the support area near $0.014/0.015.
Some speculate PBX at $1 and that would require almost a 7000% move from the current area.
A Majority of the liquidity can be found on Kucoin which does mean that a potential Binance listing could really add some juice to this particular token. Time will tell but all things considered, they may just have something pretty good in the works over there at Paribus.