DeFi protocol Paribus announces launch of their testnet MVP, the beginning of a new approach to DeFi. Secure, trustless, and truly decentralized, Paribus users will be able to borrow against previously illiquid digital assets like NFTs.
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Paribus, a DeFi borrowing and lending protocol focused on evolving with new digital asset classes, is launching the testnet MVP of their platform. Their testnet MVP will feature traditional borrowing and lending with standard crypto assets for members of their silver and gold staking pools, as well as any individual wallet address that has participated in any of Paribus’ staking programs. Paribus Ambassadors will also be able to participate.
Paribus currently offers staking in their silver and gold staking pools. The silver pool, Argenti, allows users to stake between 500,000 and 3,000,000 PBX, locked for 180 days in return for a reward level of a minimum of 25% APY. The gold pool, Aurum, allows users to stake from 1,000,000 to 6,000,000 PBX for 365 days for a minimum of 30% APY reward level. Since these are dynamic APYs, rewards can increase, as current APY for Argenti is 73% and 54% for Aurum.
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There is a growing need for both interoperability and the ability to borrow against exotic assets like NFTs in DeFi. The NFT space is growing, institutional investors are becoming more interested in the potential of cryptocurrency, and the industry grows leaps and bounds every day. Paribus plans to be the platform for DeFi lending, leveraging their tech and security to bring users a well-rounded experience. Their full MVP launch will include APY boosts, and attractive rates and returns for users.
This is just the beginning of the Paribus roadmap. With a team that believes in steady growth, strong fundamentals, and providing a new level of security for users, Paribus will bring much-needed legitimacy to DeFi borrowing and lending.
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