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💧LP Collateral vs Restaking 🦾
Restaking has become a hot topic since the creation of Eigen Layer as people look to maximize their yields.
Paribus has a different approach to increasing investors’ yields through collateralizing LP tokens.
Here are the main differences 👇
Using Eigen Layer as an example, restaking enables staked ETH, used in securing Ethereum, to be repurposed to also secure other networks, while simultaneously giving Ethereum stakers additional yield on top of their ETH staking rewards.
Liquidity Provider (LP) tokens are given by dApps such as Uniswap to people when they deposit their tokens into a liquidity pool.
Similar to staking, it generates a yield for the user while also giving projects such as decentralized exchanges the liquidity required to enable swaps.
🤓 By allowing people to use their LP tokens as collateral, Paribus will enable users to unlock the liquidity in their tokens to borrow other digital assets.
These can then be deposited back into a pool to earn more yield and receive more LP tokens.
Staking primarily supports ETH, although it’s also being replicated for Solana, Bitcoin, and Near.
🌐 However, by accepting LP tokens as collateral, Paribus can potentially offer loans against a much wider range of tokens.
While staking is usually for a predetermined time period, LP tokens can be redeemed whenever the user wants and Paribus loans can be closed out at any time, offering far more flexibility to capitalize on sudden market swings.
The beauty of using LP tokens as collateral is that they are highly liquid, which means that we greatly limit the risk levels on these types of loans.
🙌 As such, using LP tokens as collateral gives everyone involved far more flexibility than restaking, which is why we’re so excited to be moving closer to launching our LP module.
🔔⚠️⚠️⚠️⚠️⚠️
Crypto Astronaut & Memelins join forces as strategic partners!
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in negotiation with ceveral CEX
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