Pandora Digital Announces the Launch of Its DeFi Platform, Overcoming the Limitations of Conventional DEXs
"Pandora is capitalizing on AMM, multitasking NFTs, and GameFi being the way forward towards mass adoption of DeFi. We aim to develop into a leading global DeFi hub for crypto enthusiasts and the go-to launchpad and decentralized incubator for worldwide emerging blockchain startups." - The Pandora team shared their long-term vision.
LONDON, March 02, 2022 (GLOBE NEWSWIRE) -- Recently, Pandora announces the launch of its DeFi platform, which will overcome the limitations of conventional DEXs. The rise in the popularity of DeFi can largely be attributed to the fact that decentralized exchanges offer higher payouts and lower fees in comparison with traditional trading platforms. However, with many limitations, such as the lack of incentives for users, increased risk of losing invested capital due to impermanent loss, and unattractive rewards to name a few, conventional DEXs may not last long if we don't start finding ways around them soon enough. Traditional DeFi systems have many drawbacks that hinder their success in the fast-moving DeFi space, but Pandora has overcome these issues to provide a better DeFi experience with higher returns on investment for everyone.
Inclusive Reward System
The long-standing issue faced by conventional DEXs is that they mainly incentivize farmers and lack rewards for traders. DEXs that do not adequately incentivize traders will eventually lose them to another protocol. The withdrawal of traders will then cause a decrease in token swap rates, which will, in turn, lead to fewer rewards for farmers. Farmers would also leave the platform over time because the rewards they earn are not enticing enough to keep them on board.
Unless we can solve this problem, conventional DEXs face an irreversible path towards failure due to the inevitable decline of popularity over time. What is needed is to build a better incentive structure for all users.
By introducing a unique, all-encompassing incentive structure, Pandora sets itself apart from other conventional DEXs. While the crypto industry is notorious for its volatility, Pandora has assured that it will prioritize all users' stable passive income and provide them with earnings stability, even in times of uncertainty or fluctuation on cryptocurrency markets.
"Pandora takes pride in being the highest paying DEX in the DeFi space. Its inventive and inclusive reward scheme ensures that all users are properly incentivized for their participation in the protocol." – Pandora assured in a social post.
The Pandora ecosystem is powered by its two native tokens, the reward token Pandorium (PAN) and the governance token Pandora Spirit (PSR). While PAN serves as the system rewards for staking, trading, and farming, PSR acts as the backbone for all of Pandora's offerings and boasts a relatively low fixed max supply of 10 million tokens.
Pandora's dual-token model is designed to maintain the stability of its ecosystem and operates on the principles of deflation. Its multifunctional governance token PSR has a well-designed burning mechanism and anti-dumping tokenomics.
The burning mechanism of PSR ensures that as Pandora's user base grows, fewer PSR tokens will exist in circulation. Meanwhile, PSR utility and value are expected to rise steadily with each new offering that Pandora dishes out into the market.
Pandora aims to have a fair launch of its governance token PSR, a mechanism specifically designed to avoid whales. There is no presale of PSR. 42% of its total supply are dedicated to community development (marketing) and rewards (including 10% directly transferred to the jackpot pool as rewards) to keep Pandora in the eye of the community and the general public.
Pandora is set to launch with 10% of the total supply of PSR permanently locked as liquidity on DEXs. Meanwhile, ecosystem growth, protocol development, and partnership extension take up 30%. And finally, 3% are reserved for Pandora's upcoming public sale, making PSR a community-oriented token.
The lack of game-playing elements on conventional DEXs has been another common issue that often results in low usage rates and reduced popularity. Pandora strives to overcome this challenge by integrating an unparalleled decentralized jackpot system into the protocol itself.
This unprecedented, gamified approach to decentralized finance promises to make for an engaging and rewarding DeFi experience for all users.
Multifaceted Decentralized Ecosystem
Pandora is more than just a DEX, it is an actual decentralized ecosystem that boasts a robust IDO launchpad that nurtures and incubates enterprise blockchain startups with an emphasis on GameFi, DeFi, Metaverse, and NFT projects.
"Pandora IDO launchpad is currently under development and final touches are in place to make for a holistic and flawless IDO launching platform, which will be ready to go by mid-April. We are positively overwhelmed by the number of projects that have so far applied for launching on Pandora IDO Launchpad." – Pandora's CMO Bali shared the latest progress on the project during a public AMA session.
The recent rise in malicious attacks by hackers has led to a growing need for security audits. Pandora, despite already being audited by PeckShield, has also teamed up with Hacken and is committed to further seeking out other leading audit firms that may help the DEX secure its customers' funds and keep them safe from any potential hacks or frauds.
"The Pandora protocol is innovative in instilling gaming elements in the DEX/DeFi design. It has a unique incentive mechanism that aims to engage trading and farming users." – PeckShield boasted of Pandora in its recent smart contract audit report.
Promising Plans Ahead
Pandora is still in its infancy, but the start seems promising for this new DEX. The DEX is still evolving in the right direction with many milestones awaiting ahead. The team behind this DEX has shown that they are working on an extensive blueprint for success, which includes many more ways to make DeFi more lucrative and accessible to all.
Crypto enthusiasts can expect exciting news from Pandora regarding the imminent launch of the Pandora protocol and Pandora IDO launchpad, as well as massive PSR airdrops over the upcoming weeks.
What is Pandora?
Pandora is a next-gen decentralized ecosystem banking on dual-token DEX and IDO launchpad to offer a comprehensive incentive structure for all users while enabling early-stage crypto investors to find tomorrow's blockchain-based gems in today's emerging crypto projects.
About the project: https://partner.pandora.digital/
Where to find Pandora:
Telegram Group: https://t.me/PandoraCommunity
Telegram Channel: https://t.me/PandoraDigitalNews
Brand: Pandora Digital
Contact: Evandro Joong, CMO
SOURCE: Pandora Digital