tl;dr
- ChainPort and Paribus collaborate to enable secure bridging of native PBX tokens across multiple blockchains, including Ethereum and Cardano.
- Paribus offers cross-chain borrowing and lending services for NFTs, liquidity positions, synthetic assets, and traditional crypto assets.
- ChainPort's expertise in native token transfers ensures a smooth and secure bridge between Cardano and Ethereum for PBX holders.
- The collaboration enhances liquidity and accessibility for PBX tokens, unlocking opportunities across different ecosystems.
ChainPort and Paribus Extend PBX’s Reach
ChainPort and Paribus have joined forces to enable the secure bridging of native PBX tokens across multiple blockchains. Paribus, a leading cross-chain borrowing and lending protocol, offers a diverse range of services for NFTs, liquidity positions, synthetic assets, and traditional crypto assets. PBX, the native token of Paribus, is currently minted on Cardano, Ethereum, and Arbitrum.
With this collaboration, ChainPort will provide its expertise in facilitating native token transfers between Cardano and Ethereum, ensuring a smooth and secure bridge for PBX holders. By leveraging ChainPort's advanced bridging technology, PBX token holders can effortlessly transfer their assets between these two blockchains. This integration will enhance liquidity and accessibility for PBX tokens, allowing users to tap into various opportunities across different ecosystems.
It is important to emphasize that the PBX bridge is for native tokens, not wrapped tokens. Paribus has added liquidity on both sides of the bridge (Ethereum & Cardano). Now users can deposit tokens in the bridge contract on the destination chain and receive the equivalent amount of native tokens on the target chain.
Furthermore, while the initial focus of the collaboration is on Cardano and Ethereum, there are plans to explore the possibility of expanding the bridging capabilities to other chains, with Arbitrum being a potential addition in the future. This expansion would further enhance the interoperability and versatility of PBX tokens, allowing users to access and utilize Paribus services across various blockchain networks.
The collaboration between ChainPort and Paribus represents a significant milestone in bridging assets and unlocking new possibilities for PBX token holders. By combining their respective strengths and technologies, ChainPort and Paribus aim to create a seamless and efficient cross-chain experience, enabling users to maximize the potential of PBX tokens in a multi-chain environment.
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