GateLive AMA Recap-Paribus
Q1: Give a brief overview of Paribus?
Paribus is a decentralized, cross-chain lending and borrowing protocol, with quite a few novel and unique features. By focusing on exotic crypto assets, Paribus is unlocking value from NFTs, LP tokens, RWA, synthetic virtual lands, and more. Powered by an AI-driven NFT valuation oracle, the protocol uses underlying liquidity pools and non-P2P matching to create accurate, fast, and scalable loans.
Q2: What makes Paribus stand out from other borrowing and lending platforms?
Paribus’s unique approach comes down to a few key areas. First, Paribus is the first NON-P2P NFT borrowing and lending platform. This means that our protocol is highly scalable and does not require an individual to pair loans, we utilize underlying liquidity pools for fast loan generation. Other projects in the space can take many hours or longer to match an individual borrower to a lender.
Additionally, Paribus has built a novel AI-backed NFT valuation oracle. This generates precise values for individual NFTs, and doesn’t simply use floor prices.
Q3: Your NFT valuation mechanism seems very unique. Can you talk more about the process of generating the valuation?
Absolutely, the NFT valuation mechanism has been one of the most challenging aspects of development. Creating precise valuations for volatiles and subjective assets such as NFT can be difficult. We accomplished this by taking numerous specific traits about an individual NFT and utilizing custom algorithms to give weight to each NFT within a collection. Then by referencing historical data and cross referencing this with various trusted partners, we can generate a unique valuation for an NFT that is very accurate.
Q4: Can you talk about $PBX? What are the utilities?
I would be glad to, PBX is the native token to the Paribus platform, launched in 2021 we have a trusted history. As I just mentioned, Paribus is becoming a DAO. This means that our token PBX can be staked to generate vePBX, then this vePBX can be utilized to create proposals and place vote to shape the direction of the protocol. We are gradually giving the control of the protocol to our amazing community, and we’re happy with the feedback and direction our community has provided. Additionally, as the protocol generates fees, PBX stakers will be given a portion of these fees.
Q5: What exciting milestones do you have in the 2024 roadmap?
2024 will be a very big year for us, filled with many exciting updates. I’ll give a quick overview before I go into the details.
- April: NFT loans mainnet
- May: LP loans mainnet
- June: Paribus Pro
- July: RWA loans testnet
- July: RWA loans mainnet
- August: Market Data Driven Interest Rates
As you can see we will be very busy. Some of the upcoming features that I haven’t discussed yet are LP loans, this is a unique type of loan that will allow our users to utilize their LP tokens as collateral for loans. This will maximize the value of these tokens and extend the utility of these tokens.
Paribus Pro is a KYC, fully compliant version of the platform that is catered to institutions who would like to be involved in crypto but have concerns about regulations. This will also be offered to individuals who wish to have the same trading experience.
For RWA loans, we will announce a collaboration with a partner in the RWA niche which has been building infrastructure for the liquidation aspect of RWAs. We will utilize their tech, combined with ours, to create seamless RWA collateralized loans on-chain.
Paribus will use advanced algorithms to produce “Market Data Driven Interest Rates”, Off-chain data points will be consumed, such as FED rates, market inflows, open interest and more to deduce a fair interest rate.
