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Cardano Ecosystem

Paribus

07/21/2023

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Paribus on the Rise

The past few weeks have seen a whirlwind of activity for the team, bridging over to Cardano and raising awareness of Paribus.

Paribus on the Rise

The past few weeks have seen a whirlwind of activity for the team, bridging over to Cardano and raising awareness of Paribus. The upcoming weeks and months will be equally exciting as we are poised to deliver more elements from our roadmap.

As more of the circulating PBX supply transitions to Cardano, we’ve been making strides toward getting the token listed on two more decentralized exchanges (DEXs). We’ll be able to announce each one as they launch, so stay tuned to our Discord, Twitter, and Telegram channels for the latest updates as they happen.

The next key milestone from the roadmap will be the launch of the NFT module. This should precede the launch of the governance module, which will follow soon after.

As Deniz, our CEO, recently explained, “We are going to update the website, the roadmap, and the white paper in the next month or two because we want to prepare for the NFT side…so when we launch, it’s…a big launch of the NFT side, the website, the white paper, and the updated roadmap.”

Continuing, “We’re still sticking to our plan in terms of being available on EVM and non-EVM. That’s always been our plan from day one.” The recently introduced Aiken programming language for Cardano will substantially aid us in implementing this strategy.

The developer’s section of the Cardano website says, “The language is exclusively used for creating the on-chain validator scripts. You will need to write your off-chain code for generating transactions in another language such as Rust, Haskell, Javascript, Python, etc.”

Although Rust, Gleam, and Elm inspired Aiken, it shares some similarities with Python in terms of its user-friendliness. This makes finding developers that can code for Cardano much easier since Plutus developers are in short supply.

Deniz added, “If you are a Python developer, it’s easier to pick up Aiken and learn it because it has similarities with the way it works and in its documentation. It’s easier to find developers that can pick up this language and implement it at scale.”

We’re also expanding our development team to keep pace with the increased demands of our rapidly growing community. We’re adding up to 6 new developers, with an additional Senior Blockchain Developer due to start by the end of the month.

As more projects push the boundaries of the space, the challenges facing interoperability between chains are rapidly being removed thanks to the development of new communication methods. We’re actively researching ways to leverage this advancement to enable NFTs from one chain to be used as collateral for loans on other chains.

Deniz said, “There are a few ways of doing this that we’re looking into. For example, we would allow you to deposit a CNFT on the Cardano side of the application. Then we would be able to mint a synthetic version of it on the Ethereum side if you want to take out a loan on the Ethereum side. We can possibly achieve this with a few partners.”

Additionally, we’re continuing to research the tokenization of Real World Assets (RWAs), as this will be a huge growth area in the future. While most NFTs are presently PFPs with little to no utility, we firmly believe they’re just the tip of the iceberg.

Simon, our CTO, said, “One area we’re looking heavily into in RWAs is tokenized real estate. That’s a topic we’re really keen on supporting on our platform. Potentially you could tokenize your house, it has a value locked in, and then you can later borrow or lend against it.”

Deniz added, “One of the best use cases for NFTs is RWAs. So Paribus is working behind the scenes with a few partners, trying to formulate a way to take custody of physical assets, or at least rely on providers of physical assets, or custodianship partners, and then use those NFTs as collateral.”

In addition, we’re working with Pavia to deploy our Metaverse HQ when their facilities are ready. This will enable us to offer long-term, fixed-rate Meta Mortgages to help people grow and develop their portfolios.

The coming weeks and months promise to be filled with a wave of progress and development as we begin to scale Paribus. While we’re not in a bull run yet, we’re laying firm foundations and preparing for it.

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