Paribus x Im Community AMA Recap

🐋 TELEGRAM AMA: Im Community & Paribus 🐋
⏰ AMA Timing : 09 August 2021 l 01:00 PM UTC l 20:00 GMT +7
Venue For AMA : https://t.me/imcommunityitw

🎁 Reward Pool $200 USDT
Bà Tân | : Welcome @CryptoWilson from Paribus.

Bà Tân | : Welcome everyone. Today Im Community will host AMA with Paribus.

Bà Tân | : Today our guest is: @CryptoWilson from Paribus,

Wilson Davis : It’s a pleasure to join you all here today 😊

Bà Tân | : Please introduce yourself a bit: @CryptoWilson.

Wilson Davis : Sure thing. My name is Wilson, COO and Co-founder of Paribus. I have a background in the traditional finance field, most recently at Barclays and Merrill Lynch. At my time there I gained expertise in a variety of BD and operational areas. I also have a passion for art and blockchain technology which has given me a unique perspective on the NFT space

Bà Tân | : Thanks for the introduction.

Bà Tân | : Today’s AMA will have 3 sessions

Sessions 1: The chat will be muted & the team will introduce themselves then we will ask some introduction questions to the team Paribus

Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1424355230586576896).

Sessions 3: The conversation will open to the community questions and the 5 best questions will be selected.

Bà Tân | : Rules to follow AMA : ⤵️

▫️ Join : Telegram group Paribus (https://t.me/paribus_io) , Paribus Announcements (https://t.me/paribusannouncements) and IM Community (https://t.me/imcommunityitw) , Channel Im community (https://t.me/imcommunityit)

▫️Follow: Twitter Paribus (https://twitter.com/paribus_io) and IM Community (https://twitter.com/IM_Communityitw)

Web & Community:

🌐https://paribus.io/

Bà Tân | : Start session 1 AMA @CryptoWilson

Wilson Davis : Great lets start it!

Bà Tân | : Question1. Can you briefly describe what is Paribus? We would like to know more about it and how it works. @CryptoWilson

Wilson Davis : Paribus is the first of its kind cross-chain lending/borrowing platform on Cardano. We will use our advanced dynamic interest rate algorithms to unlock liquidity across chains through a range of crypto assets such as liquidity positions, synthetics, virtual land and NFTs. Our vision is to allow all of these crypto assets to be used as collateral for loans taken out in conventional crypto assets. With the use of highly specialized formulas we will be able to actualize these goals

Bà Tân | : Question2. Why did the Paribus team choose to develop their project on the CARDANO Blockchain ecosystem? @CryptoWilson

Wilson Davis : We believe that Cardano is the best solution for an interoperable and highly functional blockchain. Cardano’s protocol will allow us to plug into existing blockchains, Paribus by default will utilize and extend this capability to unlock liquidity across chains across a spectrum of assets. We will be using KEVM to bridge into Cardano. Being that our code will initially be built in Solidity, KEVM will be a convenient way to access Cardano. This flexibility will also give us the ability to be multichain, this would give us access to any EVM compatible chain too.

Bà Tân | : Question3. What products does the Paribus team provide to users? What benefits does it bring to the user? @CryptoWilson

Wilson Davis : Once completed the Paribus protocol will provide a large variety of products relating to borrowing and lending. Some one these will include: NFT collateral-based loans, NFT Staking, P2P and Pooled Lending, LP collateral-based loans, LP staking, Lending, and of course PBX itself, which is a profit sharing governance token. These products have high value and use cases. They take already performing assets and maximizing their utility. Paribus’ main goal is to provide this service to our users in a way that creates the best possible experience

Bà Tân | : Question4. What role does the $PBX token play in your ecosystem? What are the benefits of holding? @CryptoWilson

Wilson Davis : Great question. We designed the PBX token with Hodl’ers in mind. Having a token that is a long term investment is the best way to grow support from the community and proves our focus on the longevity of Paribus. For our PBX token itself, we have three primary use cases. There will be Better Borrowing Rates for those who are PBX holders. Profit Sharing, any PBX holders taking part in our liquidity programs will get to share profits. Governance, PBX holders will be able to create, vote and implement improvement proposals. Our community will be able to add new features and/or edit existing functionalities with the power of PBX Governance.

Bà Tân | : Question5. What results has the Paribus achieved so far? And is there any information on the 2021 plan for Paribus? @CryptoWilson

Wilson Davis : We are on track to meet all of our goals that we have internally, these are exciting and busy times for us. Currently we have not released our roadmap, but will be doing so before IDO. So please keep up to date with us for when we release this. There will be many important milestones along the way and we can’t wait to share with our community. Our roadmap will detail the path to MVP, integration to Cardano, and much more. Our development team is top notch and are dedicated to making Paribus an excellent product

Bà Tân | : End of session 1

Bà Tân | : We will move on to session 2

Bà Tân | : Sessions 2: We will pick 5 Best Question from our members on Our Tweet (https://twitter.com/IM_Communityitw/status/1424355230586576896).

Bà Tân | : Question1. Paribus is build on the Cardano Blockchain. But as i understand Paribus is a cross-chain lending or borrowing platform. So apart from Cardano what are the other blackchains that paribus supports or will be supporting in the future? @quachthingoc96

Wilson Davis : We see the future of cryptocurrency being multichain. We believe that Cardano shares this vision with us, they are also the best solution we see for an interoperable and highly functional blockchain. Once completed will be using the KEVM to bridge into Cardano. We have built our code in such a way that it is flexible, and will give us the ability to be multichain. For example this would mean we could access any EVM compatible chain. We have not announced what other chains we are interested in using, but our focus remains to be on Cardano

Bà Tân | : Question2.“NFT collateral-based loans” are one of Paribus’ features. My question is how NFTs may be used as collateral for any currency since they are non-fungible. Will the amount of currency that can be loaned be determined by the NFT complete’s current price? @HelenMorale1

Wilson Davis : As long as NFTs can be verified on the blockchain, they have an underlying value. The value is derived of scarcity, uniqueness and of course visual appearance. Based on these data points and price history for an NFT we will assign a monetary value. When assigning a value, the asset can now be modeled against our interest rate algorithm and pooled together with similar assets to be able to borrow against. We understand that these assets are riskier and less liquid, so we have plans to use different interests rate models for different asset types which will be more aggressive in interest rate hikes to incentivize paying back. This keeps liquidity within the protocol in abundance. Same logic will apply to virtual lands, synthetics and LP tokens, with each potentially having a unique interest rate model of its own.

Bà Tân | : Question3. In synthetic assets terms, paribus use the sentence: “ IF IT CAN BE VERIFIED, IT CAN BE SOLD” , so this means that something like a car or a tangible asset can be converted into a synthetic? Give us examples the assets that can be converted. @ngo_nguyenkhang

Wilson Davis : We created Paribus with the intention to unlock the value of conventional and unconventional assets alike. We didn’t want to limit our users to just the few standard assets. So looking into where we see the blockchain in the future, we see the potential for a continuing expansion for assets such as NFTs and synthetics. Synthetic in the crypto space are essentially an asset that derives its value from another underlying asset. This can be from anything that has an assignable value. Companies like Synthetix provides tokenized synthetics from a variety of assets such as stocks, fiat and commodities. Because of the endless possibilities that exist in this space, we have not created a definite list of what kind of synthetics we will include. But know that know that at Paribus we will take an adaptable approach to whatever new crypto asset the future holds.

Bà Tân | : Question4. I noticed you’ve done a lot of AMAs; my question is, what do you hope to gain from doing so many AMAs, and what are your community goals? Do you think the community plays an important part in the project? @JohnHick23

Wilson Davis : Yes we absolutely do! At Paribus, since the initial conception, we have always kept our community and users at the forefront of our minds. We realize that having a strong community and satisfied users is a vital key to the longevity of any project. We will listen to our community through feedback on social media and wherever we get comments. The creation of the PBX token and its strong governance abilities is also fundamental to allowing for collaboration. Creating and voting on improvement proposals will truly make Paribus a democratic project where the power to direct the course will be in the hands of our community

Bà Tân | : Question5.Opensea is an NFT marketplace that is still in demand by many people, are #Paribus inspired by opensea? and what superior features will you highlight when your marketplace is launched? and how do you attract people to want to use your marketplace? @Lazerbest14

Wilson Davis : At Paribus we understand the competition, but we honestly aren’t in competition with NFT platforms. We have essentially a borrowing and lending platform. We utilize conventional assets, such as ADA and ETH, but also unconventional assets, such as NFTs and virtual land for the collateral on loans. This is an innovative approach that we haven’t seen complete in one platform yet. We have a great marketing strategy in place, we will continue to reach out to communities and show our unique selling points. There will also be many exciting announcements as we grow and develop more connections throughout the crypto space, this will allow us to expand and attract more users.

Bà Tân | : End of session 2

Bà Tân | : We’ll move on to session 3

Bà Tân | : Sessions 3: The conversation will open to the community questions and the best questions will be selected.

Wilson Davis : Ok sounds good 😌

Bà Tân | : Rules to follow AMA : ⤵️

▫️ Join : Telegram group Paribus (https://t.me/paribus_io) , Paribus Announcements (https://t.me/paribusannouncements) and IM Community (https://t.me/imcommunityitw) , Channel Im community (https://t.me/imcommunityit)

▫️Follow: Twitter Paribus (https://twitter.com/paribus_io) and IM Community (https://twitter.com/IM_Communityitw)

Web & Community:

🌐https://paribus.io/

Bà Tân | : Don’t forget to join the group https://t.me/paribus_io

Bà Tân | : Thanks for the questions from the community.

Bà Tân | : @CryptoWilson Pick the 5 best questions and answer it for session 3.

Q1. Q. Sir, Your changes are commendable, how can you survive the bear market and keep building and growing as many projects have died this time around?

Wilson Davis : We see that in bear markets only the strongest projects with a real use case survive. We believe that our vision, team, advisors, product and community will help bring Paribus into prominence even during a down trend. Our confidence in who we are and what we do is shown by not trying to time the market for perfect conditions, but to show the crypto space what we can do 💪

Q2. Where can I currently buy your token?

Wilson Davis : Our token is not currently available to purchase. Our IDO will take place with CardStarter. They are the first insured launchpad and accelerator for Cardano. They are leading the way for projects to join and grow in the Cardano ecosystem. They select only the best projects that they see real potential in and have a true use case. I would recommend that you visit their website and check their socials to see all the great things they are doing and how you can participate in the IDO with them. Post IDO, trading will take place on DEXs. We will have more exciting announcements in that regard coming at a later date.

Q3. We’re concerned about 2 things — Marketing and Rugpull. What are your marketing plans? How can you guarantee us no rug-pull?

Wilson Davis : Yes this is a very important question. We want our community and potential investors to feel safe buying PBX. The assurance I can give that our project will be around for a very long time is in our goals, team and product. Our team as been in crypto for many years and have experience working for and with large companies around the world. Some companies you may know are: Unilever, London Metropolitan Police, Royal Mail, Merrill Lynch, Orion Protocol and Blocksquare. The milestones we meet along the way will also give our community knowledge that we are developing the product as planned.

Q4. What is the meaning of the name of the project and why did you name it that way?

Wilson Davis : The name Paribus is very significant for us. We carefully chose our name from a quote by Alfred Marshall, an 19th century economist. The quote goes “…a complex question, studying one bit at a time, and at last combining his partial solutions into a more or less complete solution of the whole riddle. In breaking it up, he segregates those disturbing causes, whose wanderings happen to be inconvenient, for the time in a pound called Ceteris Paribus.” That phrase “ceteris paribus” is latin for “all other things being equal.” In this way Paribus takes one piece of the equation and figures that aspect out, then moves on to the next ☺️

Q5. collaboration and partnerships are one of the cornerstones to making defi more widespread, can you share some of the partnerships you have formed with existing blockchain foundations recently?

Wilson Davis : This is very true. As of right now we aren’t able to share our partnerships. There are disclosures that need to be finalized and other details in place to make these announcements. We are very excited to share these with our community once those things are finalized. We are glad to have such great connections throughout the crypto space and will continue to utilize them to grow and expand our reach 🙌

Bà Tân | : Thanks for the useful information from @CryptoWilson

Bà Tân | : End of session 3

Bà Tân | : For questions that have not been answered today, you can send them to @paribus_io for answers.

🍀Jőhn L🍀 : perfect

🍀Jőhn L🍀 : thank for your time @CryptoWilson

Bà Tân | : IM Community, if you would like to know more about Paribus ! here are some useful links for you:

Website (https://paribus.io/) | Twitter (https://twitter.com/paribus_io) | Telegram (https://t.me/paribus_io) | Medium (https://medium.com/@paribus_io) | LinkedIn (https://www.linkedin.com/company/paribusdefi/)

Bà Tân | : Allright, I declare the Im Community AMA with Paribus has ended.

Thanks to @CryptoWilson | Paribus joined us and provided us with Paribus information, we hope that this knowledge makes us understand more about https://paribus.io/

To the members, thank you for following this event to the end. winners will be announced soon.