A concise review of the Paribus platform and it's overwhelming benefits

INTRODUCTION.

Over the years it's been very challenging for the teeming crypto enthusiast all over the world to find a way to borrow or lend funds. Hitherto only the conventional banks could give loan to individuals who are credit worthy and meets their painstaking requirements. These obviously come with some outrageous charges and penalty should you fail to pay at the appropriate time. This menace became ameliorated when some crypto currency platform began to give loans to individuals using cryptocurrency as collateral... These includes but not limited to NExo Finance, Voyage etc... But they encountered enormous problem and were liquidated in a short while... The most recent is voyage who used bad lending procedures and crumbled with users loosing their hard earned funds.... However today I want to review a platform that is a panacea to this problem and would Ameliorate the problem that existed hitherto; Take a read with me.... Paribus is the answer

THE PARIBUS UNIQUENESS AND POTENCY.

It's not easy to do what has not been done before, this is the Paribus story; it principally aims to draw a line between lending platforms of the old as well as what would be offered to users.

Paribus is a comprehensive, decentralized, cross-chain lending and borrowing protocol. Apart from being holistic, the solution is interoperable and inventive. Where there is value, this value can be leveraged. Nearly any asset can be represented in a non-fungible form to have its value represented on-chain. This obviously is a new approach never applied to Defi before now. With Paribus underlying framework blockchain-agnostic, the ability to interact with assets from other ecosystems will be mission critical in creating marketplaces.Paribus offers services largely unexplored and relatively untapped. Paribus will enable the harnessing of value in the following ways:

PBX; The Paribus Native Token.

Paribus Native tokens main aim is to facilitate decentralized governance on the platform and ensure an open end interaction on the platform.By owning PBX tokens, users can create proposals for the protocol’s development and also participate in determining the direction of the platform. PBX token holders play a crucial role and the token itself will be bonded to the network. This will eventually establish harmony between the protocols, it's stake holders, and their assets which is a pivotal function of PBX. In this regard, security and stability are crucial factors. Furthermore, the token is used to incentivize usage and participation — PBX token holders get a percentage share of the transaction fees as rewards. This is determined in proportion to the value of their staked tokens — the larger the amount, the greater the reward.

NFTs

NFT staking and NFT collaterized loans comes with enormous benefits with paribus. Users can do a myraid of things with their NFTs. Rather than simply storing NFTs as collectibles, users can access collateralized loans. Further, they can pool NFTs to generate yield, as well as tokenize them for other protocols. This is unique and offers mouth watering benefits like never seen before and it speaks volume why building the platform is taking time.

LIQUIDITY POSITIONS

Users can leverage their Liquidity Positions on Paribus — by staking LP tokens or using them as collateral for loans. The provision of liquidity to DeFi protocols through Paribus can create a secondary means of generating further income.

SYNTHETIC AND YIELD BEARING ASSETS

Several ecosystems offer synthetic assets which often serve a singular function and it can be challenging to generate passive income from these assets. With Paribus, synthetic assets will gain greater flexibility through effective means of generating income across chains.

Consequent upon the forgoing it's pertinent to note that Paribus and it's attribute will certainly provide a gem for the world and evolve into a Decentralized autonomous organization. The project team is a cracker jack one characterized by highly experienced expert in cryptocurrency and finance and as such would avail all supporters economy, functionality and aesthetic.

Conclusion.

The good products they say sells itself, Paribus has actually filled the loopholes that existed in the world of blockchain for years, on this maxim I say to all my followers that's it's time to seat up and invest as we are still very early. It's uniqueness can be seen in the potency of technology, good technical team, apt support system, and development of something unique to the world of cryptocurrency.

Telegram group https://t.me/paribus_io

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Medium - https://blog.paribus.io/

Website - https://paribus.io

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