Saber Launches pBTC Trading Pool

Published on: 10.07.2021

Saber is announcing the launch of the first pBTC (Parrot Bitcoin) trading pool.

pBTC is the latest asset from the Parrot Protocol, a liquidity network for lending and borrowing on Solana. They previously partnered with Parrot Protocol to launch trading of their PAI stablecoin.

Starting today, users will be able to trade pBTC using Saber’s low slippage stableswap AMM. pBTC will be supported by a liquidity pool paired against renBTC. Users can trade against both renBTC and Sollet BTC thanks to Saber’s advanced integrated router system.

What is Saber?

Saber is a Solana-based decentralized exchange optimized for high volume, low volatility asset pairs. On the exchange side, users can securely trade between crypto assets of similar value, like USD-pegged stablecoins or copies of cross-blockchain assets, with minimal fees. On the market making side, anyone can provide liquidity to Saber to earn yield from transaction fees.

Saber’s innovation is an advanced algorithm that enables low slippage trading, even at large volumes, while still maintaining high capital efficiency for liquidity providers.

What is Parrot Finance?

The Parrot Protocol is a DeFi network built on Solana that will include the stablecoin PAI, a non-custodial lending market, and a margin trading vAMM. These are all use cases designed to solve one single problem: making value locked in DeFi systems accessible.

Today billions of dollars of value are locked in hundreds of DeFi systems, and converted into different yield generating tokens, such as the Uniswap LP tokens, or the AAVE interest bearing tokens. There aren’t many use cases available for these LP tokens. The value locked in DeFi as LP tokens are inaccessible, because their risks are opaque, and their units of account unsuitable for human consumption.

The Parrot Protocol is setting out to make value locked in LP tokens accessible, by creating a liquidity & lending network collateralized by these LP tokens.