Paribus IDO will be launched on CardStarter
CardStarter, the world’s leading incubator, launchpad and insurance program for Cardano projects, is pleased to launch the IDO for Paribus, a Cardano cross-chain borrowing and lending protocol for NFTs and other alternative assets.
Unlike traditional blockchain-based assets, the value of alternative assets (e.g. NFTs, liquidity positions, synthetics, yield-bearing assets) are stagnant. Once purchased, asset values are locked and inaccessible, and owners have to wait for the asset to perform before exiting their position. The Paribus protocol remedies and unlocks value in these crypto asset classes by modeling them within a new lending market and allowing them to be utilized synergistically across other DeFi protocols.
Main features of the Paribus platform include:
- Staking and collateralized loans for NFTs
- Staking and collateralized loans for liquidity positions
- Leveraging yield-bearing assets in collateralized loans
- Lending, borrowing and staking of synthetic assets
Paribus’ governance token, $PBX, gives holders the power to submit and vote on proposals suited to the development of the protocol. As an added incentive, token holders will also be able to stake their tokens to receive a portion of fees earned by the platform. Rewards will be delegated in a tiered system, determined by the quantity of tokens staked.
The CardStarter team recognizes the brilliance and potential of the Paribus protocol and would like to invite its community to be a part of this project.
“Paribus is pioneering the building of decentralized finance infrastructure for the Cardano ecosystem. CardStarter is proud to play a part in this important development.” ~ Amir Aatash, CEO CardStarter
Paribus believes that if an asset can be verified, it has market value and can be sold. While decentralized financial applications have reshaped the investment sector, alternative assets such as NFTs have not been optimally leveraged by existing DeFi protocols. Paribus aims to change this and redefine the value of these previously challenging assets within their cross-chain protocol, offering layered leverage across protocols and increasing the earning power of DeFi investors on any chain. Led by an exceptional team, they plan to launch their protocol in Q3 2021 and fully migrate to the Cardano blockchain in Q4 2021.
CardStarter is the first incubator, launchpad and insurance program for projects being built on the Cardano network. The CARDS platform is a unique and dynamic launchpad, connecting projects to early supporters and a network of key partners. The Cards Accelerator Program (CAP) team works with each project individually to establish the right connections and map marketing strategies, establishing the foundation for long term success.
CardStarter is also differentiated by its charge to protect its supporters. CARDS provides unbiased third-party audits of every project’s code and protects IDO participants with an in-house insurance program. CardStarter is proudly partnered with X21 Digital, BlockSync Ventures, Moonwhale Ventures, Genesis Shards, Plethori, Fractal, PARSIQ, Scryptic Tech and Longtail Financial. Once fully built, CardStarter will be an all-inclusive platform with a decentralized exchange to complement the current offerings. CardStarter also aims to be a nurturing force in the Cardano ecosystem, with hackathons and project development support being a major focus of the roadmap.