Paribus Fundamental Analysis

The skill of earning money has always been a very valued one. From the time when rudimentary principles of economics and finance were first formulated, to the present times when it has become the most lucrative job market, everyone wants to be associated with it in some form due to the big margins of profit it offers. The one different thing, however, is that in the 21st century not many people are too keen on the idea of working in a mechanical routine five to six days of the week only to earn a few thousand dollars in return. People want something of a shortcut, which requires minimum effort and huge returns. Blockchain technology has started to play a very important role in this aspect as many such platforms utilize it on account of the enhanced safety, security, and reliability it provides, along with some degree of discretion.

Decentralized Finance (DeFi) is one such concept quickly gaining ground among the public. DeFi is a blockchain-based form of finance that bypasses the need for intermediates such as banks and stockbrokers etc. It operates with enhanced speed, security, and reliability that utilizes cryptocurrency and smart contracts. DeFi also allows lending, borrowing, and buying crypto without third-party meddling, and assets can be represented in the form of NFTs to obtain profit. Paribus is one such platform. Further details are as under;

What is Paribus:

Paribus is a blockchain-based, decentralized platform allowing lending and borrowing of smart contracts safely and comprehensively. One of the main objectives of Paribus is the expression of the value of digital assets in terms of NFT so that its real-world value can be represented on-chain. The main idea and objective behind this platform is to evaluate the real worth of these digital assets and make them able to be used within the DeFi universe on any platform interchangeably. It would enable customers to price their assets in terms of Non Fungible Tokens to reap greater benefits.

Paribus network is powered by Cardano, which has been thought of as a revolutionary blockchain protocol having the ability to implement changes in the crypto trading universe that were previously unheard of. It is because of this singular quality that it has been selected as the preferred blockchain network for Paribus. Also, Haskell has been selected as the main language for this platform as it makes sure that each program responds as it should. In other words, Haskell ensures that programs should “behave” in the way they are coded. This is necessary because lately a surge in cyber attacks has been observed so all must be done to avoid this.

Paribus Products:

1. Non Fungible Tokens (NFTs):

NFTs are a type of digital asset which utilizes blockchain to record ownership. It has risen to immense popularity within a very short period and is only constantly increasing without showing any signs of slowing down. Paribus allows users to do more with their NFTs rather than just storing them. Users can create an NFT pool with other users to generate multiplied yield and also tokenize them to get other products, too.

1. Liquidity Positions:

Consumers can leverage their liquidity positions on this platform by using them as a bargaining chip for obtaining loans. In this way, a secondary source of income can be generated.

1. Synthetic and Yield-Bearing assets:

Many DeFi ecosystems have a drawback; which is that they offer synthetic (man-made) assets due to which it becomes challenging to draw an income from these assets. Paribus attempts to change this by allowing a greater margin for maneuvering these assets across different blockchain platforms and generating income.

1. Paribus Native Token:

PBX is the native token for the Paribus network which means it is the official token used for all transactions on the network. As such, its main function is to allow increased interaction between all members of the network while simultaneously giving rise to decentralized governance on the entire platform. Using PBX tokens, customers can give ideas and proposals for the platform’s development and so in this way, PBX token holders are of great importance. The PBX token is bonded to the Paribus network.

The token also promotes cordiality and harmony between different stakeholders while also incentivizing more and more people to participate. PBX token holders are also entitled to a percentage of the transaction fees as a reward. The reward is directly proportional to the amount of staked tokens. Greater the amount, the greater the reward.

The total supply of PBX tokens is 10 billion. Out of these 10 billion, 4 billion, the largest share, were sold. 3.3 Billion tokens were set aside for the Ecosystem. A further 1.5 Billion are reserved for the Foundation while 700 million are earmarked for strategic and advisory purposes. At last, 500 million tokens are meant for the provisioning of liquidity.

Conclusion:

Conventional finance is largely being replaced and challenged by DeFi and the world of cryptocurrency which has had a meteoric rise in recent years. Many high-profile personalities have endorsed crypto and a few countries such as El Salvador have even given crypto the status of legal tender. Point is, digital assets should be explored and exploited to uncover their full potential as they are more rewarding and more profitable than simple fiat money. Platforms such as Paribus aim to do exactly that. It incentivizes NFT ownership so more people are drawn towards using the platform.

The more popular it becomes, the more will be the understanding of crypto and blockchain-enabled platforms among the general populace. Paribus certainly looks to be the project that has the potential to provide solutions to the problems being faced by traditional finance.