Paribus PBX Price

What is Paribus (PBX)?

Paribus (PBX) is a decentralized finance (DeFi) protocol designed to enable users to unlock liquidity from their crypto assets. Launched in early 2021, Paribus allows users to borrow against their non-fungible tokens (NFTs) and other digital assets without needing to sell them. This is particularly useful for investors who want to retain their assets while accessing capital. The PBX token serves as the native utility token of the Paribus platform, facilitating transactions and governance within the ecosystem.

Who are the Founders of Paribus?

Paribus was co-founded by a team of professionals with experience in blockchain technology, finance, and business development. The key figures include:

• Rafael L. M. Lobo: A seasoned entrepreneur with a background in technology and finance.
• Tommy K. S. Y. Chan: An expert in blockchain and cryptocurrency who has worked on various DeFi projects.
• Ben W. R. Kloss: A professional with extensive experience in software development and product management.

How does Paribus Work?

Paribus operates on a multi-chain architecture, leveraging several blockchain networks to enhance its functionality and accessibility. The platform allows users to collateralize their NFTs and other assets to borrow crypto or stablecoins. Here's how it works:

• Collateralization: Users can lock their assets into the Paribus protocol as collateral.
• Borrowing: Based on the value of the collateral, users can borrow against it in a seamless manner.
• Interest Rates: The platform employs dynamic interest rates, adjusted according to the market demand and supply.
• Liquidity Pools: Users can provide liquidity to various pools and earn rewards in the form of PBX tokens.
• Governance: PBX token holders can participate in governance decisions, influencing the future development of the platform.

Top Use Cases of Paribus

Paribus offers several innovative use cases that cater to the needs of the DeFi ecosystem:

• Liquidity Unlocking: Users can access liquidity from their NFTs and digital assets without selling them, allowing for better capital management.
• Yield Farming: Users can earn rewards by providing liquidity to the platform’s pools, enabling them to maximize returns on their investments.
• Cross-Asset Collateralization: Paribus allows various types of assets, including NFTs and cryptocurrencies, to be used as collateral, broadening the borrowing base.
• Investment Opportunities: Users can leverage borrowed funds to invest in other DeFi projects or opportunities while retaining ownership of their primary assets.
• Community Governance: PBX token holders can propose and vote on protocol upgrades and changes, fostering a decentralized governance model.

How to Keep your Paribus Safe?

Ensuring the security of your assets on the Paribus platform is crucial. Here are several strategies to keep your PBX tokens and collateral safe:

• Use Hardware Wallets: Store your PBX tokens in a hardware wallet for enhanced security, keeping your private keys offline.
• Enable Two-Factor Authentication: Always enable 2FA on any accounts associated with your crypto investments to add an extra layer of security.
• Regularly Update Software: Ensure that your wallets and devices are always updated to protect against vulnerabilities.
• Be Wary of Phishing Scams: Always double-check URLs and avoid clicking on suspicious links or emails that could lead to phishing attempts.
• Stay Informed: Keep up with the latest news and updates from the Paribus team to be aware of any potential risks or changes in the protocol.