Paribus
Crypto Overview
Project Overview
Paribus (PBX) is a DeFi protocol built on the Cardano blockchain that aims to enable lending and borrowing of various asset types including NFTs, liquidity pool tokens, and synthetic assets. The protocol intends to create a marketplace where users can use their digital assets as collateral for loans.
Utility Assessment
The primary utility of PBX tokens includes governance rights over the protocol and incentivizing liquidity providers. Token holders can vote on protocol parameters and participate in the platform's decision-making process.
Business Model Analysis
The core business model revolves around facilitating lending and borrowing services, which fundamentally involves interest-bearing transactions. While the platform introduces innovative concepts for NFT and synthetic asset lending, the underlying mechanism still relies on interest-based lending practices.
Development Activity
The project shows ongoing development activity on GitHub and regular updates to their platform. The team maintains active communication through their official channels and provides regular progress updates.
Token Distribution
Token distribution information indicates a significant portion allocated to the team and early investors, with vesting periods in place. The project maintains transparency regarding token allocations and vesting schedules.
Crypto Impact
To assign a comfort level investing in Paribus from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Paribus.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.