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Highlights
- Paribus (PBX) was expected to release its live staking app at 2:00 pm GMT today.
- It has three pools for PBX staking.
- Paribus’ annual percentage yield or APY is up to 30%.
Paribus (PBX) was expected to release its live staking app at 2:00 pm GMT on Tuesday, Dec 28, 2021. The app will allow users to stake their PBX tokens for an attractive annual percentage yield (APY) or earn more tokens later.
It is a one-off event. The staking will stop once the pools are filled, and contracts are completed. In other words, the staking is open until the pools last, the company said.
What is Staking?
Staking means locking tokens for a fixed period under a smart contract. The locked tokens and the reward tokens are given back to participants when the contract completes. They can either sell, invest, or continue to hold them. One can participate in the staking process through the company’s app, downloadable from its official website.
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Paribus’s high APY
The company’s high APY is catching investor attention. The PBX staking offers APY of up to 30%, much higher than the PoS (Proof of Stake) staking, which gives an APY of around 6%.
Paribus has created three pools namely: Aereus, Argenti, and Aurum. Their intake size is laid by Paribus to encompass a greater number of wallets than a few whales.
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Aerus pool: Used for staking between 50,000 and 2,000,000 tokens
Lock-in period: 90 days
Reward level: 20% APY
Pool Capacity: 250 million PBX
Argenti pool: for staking between 500,000 and 3,000,000 PBX
Lock in period: 180 days
Reward level: 25% APY
Pool Capacity: 375 million PBX
Auram pool: for staking between 1,000,000 and 6,000,000 PBX
Lock in period: 365 days
Reward level: 30% APY
Pool Capacity: 500 million PBX
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The Paribus (PBX) token surged 20.20% at 12:18 pm ET on Tuesday. It traded at US$0.02023.
Paribus is a cross-chain borrowing and lending protocol. The ERC-20 token protocol is for NFTs, synthetic assets, and liquidity positions powered by Cardano Blockchain.
It has 1,783 holders, and the top 10 holdings consist of 94.35% of the total circulation, as per coinmarketcap.com. The token has a market capitalization of US$10,243,229. Its fully diluted market capitalization is US$202,278,244. The 24-hour trading volume was US$3,694,718, up 70.03%. Its circulating supply is 506,393,023.93, and its maximum supply is 10 billion.
Its ranks #1085 in the market based on market cap, according to coinmarketcap.com. It can be bought and sold through exchanges like KuCoin, Gate.io, Uniswap (v2), etc.
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Bottomline
Paribus CEO Deniz Dalkilic said: Paribus (PBX) staking offers a great opportunity to everyone to earn the PBX token. Early investors can expect a better return when the project grows, he said in a blogpost.
