Even as the crypto currency space is experiencing a difficult market cycle, we remain true to our previous claims of making PBX a deflationary token. The progress towards reaching our MVP is ongoing at a rapid pace. As we develop we realize that timelines my need slight adjustments so ensure the delivery of a truly superb product. We are in a constant state of iteration and continually consider ways to increase value for our supporters. In doing so, we have made thoughtful decisions to utilize PBX in ways that reward our holders. In October we announced that PBX will become a deflationary token and will be generating this deflation from two different sources.
One avenue of deflation referred to in the announcement above is the change to the fee model. The Paribus model delivers benefits by breaking the protocol fee revenue up into three separate subsections. One portion being allocated to the continual removal of PBX from circulation, thus causing deflation.
This added benefit for PBX will be bolstered and initiated by an algorithmic Deflationary Volume Incentive. Paribus’s trading volume will be the measure used to calculate the PBX percentage that will be reserved and permanently removed from circulation. As volume increases so will the deflationary incentive. When the MVP, the permanent removal of PBX will be generated from protocol fees versus taking these tokens from the ecosystem or any allocation where it may not benefit the community.
The amount that has been calculated for this cycle is 18,416,288.07 PBX! This amount at current prices equates to $198,307.14.
The link below reflects the transaction:
https://etherscan.io/tx/0xbd84b53981439b418830dc0160b5233c56ef00a70a2de26d07cdbca81ae9a2d6
This quantity of PBX will fluctuate as trading volumes and the algorithm adapts to protect the value of our ecosystem. We look forward to more deflation cycles as we work diligently towards completing our MVP.
About Paribus
Paribus is a first-of-its-kind cross-chain lending/borrowing platform built on the Cardano blockchain. Paribus is poised to lead the industry in unlocking and fully realizing the intrinsic value of NFTs and other unconventional assets. At its core
Paribus utilizes a sophisticated dynamic interest rate algorithm. Paribus aims to achieve liquidity across chains for a vast range of conventional and unconventional digital assets such as liquidity positions, synthetics, virtual land and NFTs. The ultimate vision of Paribus is to leverage dormant on-chain value across the entire crypto market.
