29 July 2021: PERI Finance is launching on BSC Mainnet With 1025% APY on Staking and an aim to launch a whole Dapp ecosystem and leverage staking rewards to become a popular choice. Once all the tests are completed PERI Finance will officially open Staking dApp at BSC main net, allowing the BEP20 PERI holders to stake their PERI at staking dApp to receive the staking rewards.
PERI Finance is a decentralized cross-chain synthetic issuance and derivative exchange protocol that provides unlimited liquidity on the Polkadot network. It gives an opportunity to access a wide range of both traditional financial and crypto assets in the form of leveraged and non-leveraged synthetic products. The platform offers a lower GAS fee, speedy transactions, and ample security from front-running or flash loan. PERI is all set to launch on Binance Smart Chain(BSC) with tons of staking opportunities and one of the highest yield reward APY.
Binance Smart Chain is the true winner of this bull season as its popularity skyrocketed to new highs, even overshadowing the Ethereum network in terms of transaction volume. The smart chain became an obvious choice for ERC-20 traders and Defi operators at the peak of the Ethereum gas fee problem. BSC offered the same functionalities with a faster transaction processing rate and a much cheaper gas fee.
BSC has become a popular choice for Defi and Dapp developers as it is compatible with the Ethereum Virtual Machine (EVM) allowing it to run Dapps and Defi programs from Ethereum blockchain. PERI finance aims to launch a whole Dapp ecosystem and leverage staking rewards to become a popular choice.
Pynth stands for PERI Synthetic asset, follows the price of an underlying asset Forex, CryptoCurrency, and Commodity. It’s concurrently provided by PERI Exchange.
PERI is a utility token used to create a liquidity pool in the process of staking, generating the basic Pynth, pUSD. It is also a tool to be used for voting within PERI DAO, which will play a pivotal role in the development of PERI Finance. PERI holders will receive three different rewards by staking PERI or USDC and minting Pynths. The ratio of PERI to USDC will be 8:2, which can be changed by PERI DAO later.
PERI Finance Offers Exchange services, Staking Pool, Dapps, and NFT Marketplace in one Place
PERI Finance is more of a decentralized ecosystem than just another DEX. The platform offers a host of services including staking and exchange services. The platform has struck an exclusive partnership with Maker DAO allowing it to stake DAI stablecoin in PERI Finance’s staking pools. Some of the key services of the platform include,
PERI.POOL: PERI Liquidity Pool is a pool created in the process by staking PERI and minting Pynth called pUSD. The pool acts as a liquidity provider. PERI Finance locked staking rewards for 9,000,000 PERI, which is 45% of the total supply and 76,924 PERIs are weekly distributed to the PERI stakeholders.
PERI. Exchange: PERI.Exchange is a Pynths derivative DEX without an order book. It enables users to convert one Pynth to another with infinite liquidity and no slippage. Taking long or short positions on Pynths up to 20x leverage could maximize trading volume. The Pynth prices are provided by Oracle while Pynth perpetual contract prices are determined by virtual AMM.
PYNTHS NFTs: Pynths’ NFT-linked synthetic assets will be a game-changer for the massive NFTs market. Artists and investors are to be greatly rewarded and monetized by minting PERI tokens. Pynths will show its uniqueness in the Pynths’ NFT ecosystem.
PERI Exchange has cracked the Liquidity Game
PERI exchange has no need for a liquidity provider. For the transaction of converting Pynths, the counterparty is the debt pool collateralized by PERI and USDC staked by the holders, so the liquidity available in the pool is infinite and no slippage exists. As for leveraged Pynths, perpetual contracts trading, virtual AMM backed by the staked PERI is the mechanism to provide the liquidity.
Thanks to vAMM’s unique property, there is no liquidity provider involved in the trading so the stakers have no risk to lose their PERI nor USDC. The stakers are incentivized by 3 types of rewards.
- The trading fees are taken and pooled whenever Pynths are exchanged or leveraged Pynths contracts are traded on PERI.exchange.
- PERI inflation rewards designed to pay for staking PERI and USDC.
- The profits share generated by PERI assets.
They will be distributed to the Stakers based on their contribution to the network. PERI Asset is an A.I Arbitrage Trading system operated by fundraising by PERI sales. It creates profits by finding risk-free arbitrage in the traditional market finance market and the crypto market.
In the process of staking the Liquidity to DEX, users can earn PERI rewards in return. When DEX Liquidity providers deposit liquidity (PERI + ETH/) into a pool, special tokens known as LPtokens are minted to the provider’s address. Then whenever a trade occurs, users earn a 0.3% fee, pro-rata basis to all LPs in the pool at the moment of the trade. In addition, by staking LP tokens in the PERI Staking dApp, users earn % of PERI on a pro-rata basis.
To learn more about PERI Finance visit pynths.com
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SOURCE: Pynths Limited