Cryptocurrency

pNetwork – The heartbeat of cross-chain DeFi composability

What is pNetwork/PNT?

pNetwork is the new cryptocurrency token PNT with a vision to make sure that all the blockchains on the cryptocurrency market connect with just one crypto token. According to the developers, the project is “The heartbeat of cross-chain DeFi compatibility”.  Decentralized Financial(DeFi) is the movement that leverages decentralized networks to transform old financial products into trustless and transparent protocols that run without intermediaries.

pToken/PNT is a tool enabling cross-chain composability. It is an essential component enabling Decentralized Financial(DeFi) DApps to be compatible with any crypto asset. The pTokens technology was designed to overcome the inherent “walled garden” limitation of blockchain protocols. The world of open finance grows larger and more sophisticated by the day. Yet this decentralized economy still suffers from a major drawback – a lack of cross-chain interoperability.

Why PNT/pToken

In an ideal DeFi system, cryptocurrencies will move freely and seamlessly between exchanges, DApps, and wallets. pTokens aims to solve the liquidity and interoperability riddle – a technology to connect any token with any blockchain.

Key features

  • Portable: pTokens can teleport any token to a different blockchain, without frictions. Liquidity unchained!
  • Pegged: Every pToken is transparently pegged to its respective token. It is a trustless 2-way peg.
  • Powerful: Build tools without barriers: cross-chain composability is made possible by pTokens. They were made for DeFi.
  • Provable: A decentralized process makes everything transparent. Anyone can become a pNetwork validator to help secure and shape the future of the network.

How it works

Deposit Collateral: All pTokens are transparently pegged to an underlying asset. Anyone can deposit on the relevant pTokens smart contract a certain amount of the underlying asset and request the equivalent 1:1 pegged pTokens representation.

Mint pTokens: Two traditionally separated blockchains meet within a secure sandbox and this is where the magic happens! A network of secure sandboxes verifies the number of underlying assets locked and these joint trigger pTokens minting mechanism. Newly minted pTokens are then available for the user to play with.

Burn pTokens: All pTokens are fully backed and their underlying asset can be redeemed at any time. Anyone holding pTokens can decide to destroy them to get access to their underlying asset. A network of secure sandboxes verifies the number of pTokens submitted and these jointly trigger the pTokens burning mechanism. The underlying asset is then unlocked and available for the user.

pNetwork listing on WazirX + Grand PNT Giveaway

pNetwork (PNT) is already listed on WazirX on Wednesday, 14th July and you will be able to buy, sell, trade PNT in our INR and USDT market. WazirX is also running a giveaway for you via a host of activities.

WazirX

Where to buy/trade the pTokens/PNT token:

WazirX is one of India’s most trusted Bitcoin, Ethereum, and other cryptocurrency exchanges where people can invest, buy and sell various cryptocurrencies. Users can trade Bitcoins also. Trading platforms are growing in popularity among the young generations and the business people who dream of growing big with money.

WazirX is the best place to buy this new token, and the ongoing giveaway makes it even more obvious. To stand a chance to win the giveaway, check: https://blog.wazirx.com/pnetwork-listing-on-wazirx-grand-pnt-giveaway/

Start your journey into crypto today using https://wazirx.com/invite/nqchwjcx

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