It’s another exciting news read about paribus platform, firstly i want to say a big thank you for…

3 min readNov 20, 2022

It’s another exciting news read about paribus platform, firstly i want to say a big thank you for following up on this journey into the awesomeness of Paribus and today is an exciting day to talk about Paribus features and protocol which is one of the best outstanding cross-chain borrowing and lending protocol for NFTs, liquidity positions, and synthetic assets, building for the Cardano blockchain out on our DeFi space.

WHAT IS PARIBUS

Paribus is a cross-chain borrowing and lending protocol build for the Cardano blockchain to accommodate both conventional and unconventional crypto assets such as (NFTs, synthetics, yield-bearing assets etc.) which allow for its users to unlock liquidity and interact with the market without having to liquidate their assets.

Taking cues from Compound’s interest rate concept and expanding it to handle more than only conventional tokens and coins but also unconventional assets, Paribus runs utilizing “pools of assets” with algorithmically calculated interest rates, based on the supply and demand for a specific asset (NFTs, synthetics, yield-bearing assets.)

In order to provide DeFi holders and investors with a platform to increase the exposure of their crypto assets and positions to achieve earning power, Paribus has recognized many chances and brought them together.

Some of the fundamental functions/applications that Paribus would incorporate into its platform as a cross-chain decentralized finance protocol include:

NFT Collateral-based loans

Users would be able to use their NFTs as collateral to obtain loans to pay for other expenses, or to release cash by borrowing against their assets.

NFT Staking

NFT Collection owners would be able to provide a pool where collection owners can stake their NFTs to earn yield on their assets.

P2P(Peer to Peer) and Pooled Lending

Ownership of NFTs becomes flexible and optimized.

LP (Liquidity Provider) collateral-based loans

Liquidity Provider (Users who loan their tokens to a liquidity pool and in return get an LP token) can borrow against AMM (Automated Market Maker — facilitates the decentralized exchange of digital assets using liquidity pools rather than conventional market order books) liquidity positions.

LP Staking

Staking pools (from multiple blockchain liquidity pools) provided for liquidity providers to stake their LP tokens.

Unlocking Liquidity for Synthetic Assets

On Paribus platform, an option would be provided to unlock liquidity in the form of lending, borrowing or staking. This feature would be characterized by being cross-chain, flexible and also capital efficient.

PBX (Paribus Native Token) token profit sharing

Through tiered staking, users can have a share in the fees collected by the network.

Paribus’s features and protocol are designed to evolve with new crypto assets classes, capturing the value stored in the emerging universe of interconnected blockchains and being a component of the Cardano blockchain guarantees that the Paribus protocol will always be chain agnostic, offering its core applications across other blockchains.

The future is here Invest in DeFi, redefine your yield.