We are excited to announce Pandora Protocol will be launching on Ignition. Pandora is a scalable, interoperable and high throughput infrastructure that allows asset owners to convert their real-world illiquid assets into a tokenized liquid state.
Here are the important dates to note for participation:
- 📋 Whitelist Start: May 21, 2020 11AM UTC
- ⏰ Whitelist Close: May 25, 2021 4AM UTC
- 🚀 IDO on Ignition: June 2, 2021 11AM UTC
🔒➡️🔓 Vesting Period: 100% at listing
Apply for the Pandora whitelist lottery for Ignition HERE.*
The current state and limitations off-chain real-world assets.
Real-world assets can be anything from property rights to stock certificates to cars, gemstones, wines and more. Assets of this sort are undoubtedly valuable but are complicated to trade and transact easily because of their physical presence, restricting their potential to provide liquidity on demand to the owner.
Over the years and through the advancement of the internet, trade methodology for such assets has evolved from being heavily based on a barter system to nowadays powered by e-trade. However, the process surrounding this is anything but smooth, as it involves a lot of back and forth on price, the involvement of middlemen, unnecessary paperwork and a number of other obstacles that can present themselves at any time during the negotiation. Moreover, another big problem with real-world assets is that only selected assets are acceptable for making a trade, like houses and cars, for example. All in all, there are trillions of dollars of assets worldwide that have value, but because of the lack of a platform to market them on, they remain stagnant and illiquid.
Pandora is bridging the gap between real-world and on-chain assets.
By using the power of blockchain, Pandora will empower the transition of illiquid real-world assets into digital assets that can be registered in an on-chain ecosystem through the process of tokenization.
Tokenization means converting an asset, either real or virtual, into a digital token. It enables digital transfer, ownership and storage without the necessary need of a central third party/ intermediary. In the digitized world we live in today, all kinds of assets can be tokenized, including real estate, art, fancy cars, commodities, and more. Once tokenized, such assets can be registered on the blockchain and tracked in real-time to recognize, identify, and prevent potential misuse.
Pandora will achieve this by creating liquidity enabled NFTs (non-fungible tokens) to tokenize off-chain assets so they can reach their full potential. Today’s major issue in the global NFT space is the lack of liquidity, and this is where Pandora seeks to add much value. Instead of competing with other NFT platforms for liquidity, Pandora will be helping them grow. This is envisaged through the creation of a marketplace with real-world augmentation features where both digitally native and real-world assets can provide liquidity and accurate pricing data while also continually being updated with relevant, exact on-chain data. Once transferred on-chain, real-world assets will gain competitive advantages such as being subject to exchange between users through simple, secure and reliable transactions, having the ability to be lent and borrowed without intermediaries and also double yield generation.
*For applications to be considered valid, all applications must adhere to the PAID whitelist lottery rules, pass PAID Ignition’s KYC process, and adhere to each project’s specific KYC requirements and country restrictions which vary per project on a case to case basis. For a list of Pandora specific restricted KYC countries, check HERE.
About Pandora Protocol
Pandora creates a bridge between on-chain and real-world assets to form an open finance ecosystem. This protocol allows for the tokenization of illiquid assets, meaning they can be found, traded, borrowed and owned in a secure, decentralized way. Pandora provides both a middleware solution for minting liquidity enabled NFTs, alongside offering Dapp developers the ability to leverage Pandora to provide liquidity to their own users’ NFTs. The ticker for Pandora is $PNDR.
IGNITION is a featured product of PAID Network, operating as a decentralized swapping protocol which allows blockchain-based token projects to offer their private and public auctions. The platform features Ethereum, Binance Smart Chain (BSC), and here shortly, Polkadot functionality.
Ignition is different from other auction platforms in that it properly vets and selects only top-tier cutting-edge projects. Its multi-level incentivization mechanisms for participants of published projects will encourage HODLing that supports both the project founders and the community. It isn’t just a trading platform, it FUELs projects and takes fundraising to the next level.
Ignition brings quality projects, fixed swaps, and equitable lottery participation to the PAID community.
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.
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