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Cardano Ecosystem

Paribus

12/06/2023

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Best Foot Forward

It’s been a fierce couple of years in crypto while we’ve been building Paribus.

Best Foot Forward

It’s been a fierce couple of years in crypto while we’ve been building Paribus. This year has been particularly challenging because of the collapse of Luna and FTX in dubious circumstances. Despite the markets having been on a rollercoaster, our progress has been solid and steady.

Now that we can see signs that the bear market may be ending, we’re positioning ourselves to take full advantage of the increasing liquidity in the space. As such the next few months are the ideal time to release some of the additions to the platform that we’ve been working on.

To begin with, as we announced on X last week, our governance module is now in the hands of the auditors, and we’re gearing up for its release on Milkomeda. If it passes Hacken’s security assessment, we’re aiming for a go-live date in the next few weeks.

This was revealed in a recent interview by Deniz, our CEO, “We’re releasing our governance within the next month, which is our first step towards becoming decentralized. Then we follow it very quickly in the next three months with a bunch of features that are bringing our USPs out.”

As longtime community members know, we never rush security checks, and audits can sometimes cause delays to our release dates. But as soon as Hacken gives us the green light, we’ll let everyone know when it will be live.

This move towards becoming a fully-fledged DAO (Decentralized Autonomous Organization) is an exciting development for our community and opens up possibilities for listing on additional exchanges. Deniz explained, “Governance is a key requirement for listing on some of the more regulated exchanges. Once governance comes online, we have more freedom from a legal perspective to engage with different exchanges and hopefully take it forward.”

After the governance module is live, our next roadmap target is the release of the NFT (Non-Fungible Token) module. Our developers have been working diligently on this for months, and its release should coincide with a more favorable outlook for the NFT market, which is perfect timing for us.

Deniz also explained that we have further developments in the pipeline that will be ready for release in quick succession. He said, “The NFT module will be coming in around January, and then we have LP collaterals coming shortly after.

“Following that, we have a new liquidation mechanism that we want to introduce to our platform called partial liquidations. So we have a very busy roadmap for the next three months, and we’re excited to show off what we’ve built over the past eight months.”

Our liquidity provider (LP) iteration will enable LP token holders from whitelisted projects to use their tokens as collateral. There are few uses for LP tokens at the moment, so unlocking their stored value could create a significant market for us.

We’re hoping to put both the NFT and LP versions of Paribus onto the testnet before the end of the year. This will allow the community to get hands-on experience and provide us with valuable feedback, which proved so helpful with our previous testnet releases.

Deniz also explained that very soon PBX holders will be able to make more use of their tokens, which should also increase demand for them. He said, “The PBX token will start playing a heavy role in governance as of next month.

“We are bringing governance online on Milkomeda so you can wrap smart contract calls from the Cardano side, or you can bridge it across to Milkomeda and start raising and voting on proposals to make sure the project is guided by the community.”

We couldn’t have made it this far without the ongoing support of our community, for which we’re deeply grateful. We’re as excited as you are with this news and look forward to sharing more details about these developments soon.

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