KuCoin AMA With Paribus — Comprehensive Decentralized Cross-Chain Lending Solution

Dear KuCoin Users,

Time: March 26, 2024, 12:00 PM - 1:13 PM (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session in the KuCoin Exchange Group, featuring the Co-Founder and COO of Paribus, Wilson Davis.

Official Website: https://paribus.io/

Follow Paribus on Twitter, Telegram and Discord

Q: What makes Paribus stand out from other borrowing and lending platforms?

Wilson: Thanks for the question. 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. This makes our NFT valuations very accurate.

Q: Your NFT valuation mechanism seems very unique, can you talk more about the process of generating the valuation?

Wilson: Yes, I would be glad to. The NFT valuation mechanism has been one of the most challenging aspects of development. Creating precise valuations for volatile and subjective assets such as NFT can be difficult. We accomplished this by taking numerous specific traits about an individual NFT and with the use of custom algorithms we give a 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 precise.

Q: I see Paribus’s v1 on Arbitrum, what other chains will Paribus be on?

Wilson: That's right! Paribus has deployed its v1 protocol on Arbitrum. This version of the platform is for traditional crypto assets such as ETH and USDC. This sets the foundation for our future iterations such as the NFT borrowing and lending. We are planning to expand to many different ecosystems as we have a goal to be as cross-chain as possible. A few other chains we would like to deploy on are Ethereum, as most NFT volume is currently there and Base, as they seek to support RWAs.

Paribus is currently transitioning into a DAO, and with our governance live, our community can help suggest chains that we should deploy on too.

Q: Can you talk about $PBX? What are the utilities?

Wilson: 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 votes 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.

Q: What exciting milestones do you have in the 2024 roadmap?

Wilson: The year is going quick! 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.

Q: What is the best way for community members to connect with Paribus?

Wilson: We have a very active community on Telegram, X(Twitter) and Discord. We are always happy to answer any questions our community has. Also, if any one is interested in creating a proposal to shape the direction of Paribus, we encourage them to participate in our governance. Even if members don’t desire to create a proposal or don’t meet the requirements, they can simply discuss ideas in the forum and get the conversation going.

Here are the following links to our socials: website, X (Twitter), Telegram, Medium, Discord and YouTube.

Q: How does the Paribus platform plan to integrate and leverage real-world assets (RWAs) as collateral for loans, and what are the challenges and opportunities in this space?

Wilson: RWAs will be a major focus for Paribus going forward. Based on our research we see the RWA market reaching over 1 trillion dollars in the coming years. Many physical assets will become tokenized and we want to give individuals an opportunity to use these tokens as collateral for loans, helping to extend the value of our users' assets.

Q: Paribus is becoming a DAO. How does Paribus directly involve the community in product development decisions?

Wilson: We feel very strongly that our community should have a say in the direction for our future. There are certain protocol factors that cannot be changed via governance, this is for the safety of the protocol. But the vast majority of options are available for our community to create proposals for. If enough of the community thinks it’s beneficial to Paribus then it is enacted and put into place.

Q: Paribus talks about NFT-based loans as collateral. Is there any contemplation of including other types of non-fungible assets in the future? To what extent could the Paribus ecosystem be expanded to accept new types of collateral?

Wilson: The overall vision of Paribus is to unlock the value of digital assets. Our modular architecture allows us to add new types of assets as we progress. We will accept NFTs, RWA, Virtual lands, LP and more. As new token standards are generated, we will continue our research and incorporate these tokens into our platform as we want to be an all encompassing platform for DeFi. Additionally as the community sees opportunities they can suggest which assets we should support next.

Q: Can users swap vePBX to PBX tokens? Will vePBX be listed on different exchanges also?

Wilson: At the end the staking period vePBX will be unlocked and users can utilize their PBX. vePBX does not have monetary value and cannot be traded on exchanges. The vePBX is used to create proposals and shape the direction of Paribus.

Q: Many projects have problems with UI / UX and this one turns off new users. How do you plan to improve the interaction with new users and with users outside the crypto space?

Wilson: We have focused heavily on creating a user friendly and intuitive UI. We understand that many users outside of Web3 are not very comfortable with the navigation of DeFi platforms. Our UI is very sleek and minimal. Additionally we will continue to reshape the UI based on community feedback. We really appreciate the insights our community provides and we always take them into consideration.

🎁 Participate in the Paribus AMA quiz now for a chance to win 5,530 PBX!

The form will remain open for five days from publishing this AMA recap.

KuCoin and Paribus have prepared a total of 1,059,210 PBX to give away to AMA participants.

1. Pre-AMA activity: 414,960 PBX

2. Free-ask section: 25,500 PBX

3. Flash mini-game: 204,000 PBX

4. Post-AMA quiz: 414,750 PBX

Sign up for a KuCoin account if you haven’t done so yet, and ensure you complete your KYC verification to be eligible for the rewards.

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