HECO AMA Series Recap — Pippi Finance

Series №001

Guest: Alexander Golubtsov, Pippi Finance Community Director
Host: Evan of HECO

Introduction

Evan: Today with us we have. Pippi Finance ($PIPI). Pippi Finance is a decentralized exchange running on HECO Chain, with lots of features that let you earn and win tokens. It is fast, cheap and easily accessible as it is not difficult to use. Welcome, Alexander. Could you tell us about yourself? What did you do before Pippi Finance and why did you choose to work for Pippi Finance?

Alexander: Hello, this is Alex, I am Pippi Finance Community Director. Before I joined Pippi Finance, I was working in the internet/education industry. I used to serve as an English recruiter in an internet company. Online education was a trend, which allowed English native speakers to teach kids English directly. Also, no need to worry about location restriction anymore. All you need is a laptop and internet. This was already a very leading trend, but I was thinking more. The idea of blockchain and Bitcoin were even more rare to most people. I spent a few weeks and read the Bitcoin whitepaper, I immediately fell in love with this “blockchain” idea. I saw the future. Then, I studied more and decided to enter this field. Then, here I am.

Questions and Answers

Q1

Evan: Could you tell us more about Pippi Finance? In other words, what does Pippi Finance do?

Alexander: Pippi Finance is a decentralized exchange running on HECO Chain, with lots of features that let you earn and win tokens. It is fast, cheap and easily accessible. Pippi Finance’s vision is to aim to provide the best experience across all assets and to be the future of trading. You can participate in Pippi Finance in five ways.

Swap: AMM that allows anyone to swap HECO tokens efficiently and safely
Farm: you can stake your LP tokens to earn a high yield
xPIPI: You can get xPippi by staking PIPI, to earn our partners’ /airdrop tokens
NFT: you can get CryptoPunk NFT and more will be available in the future
IDO: To participate in the Initial DEX Offerings of other Heco projects

Q2

Evan: Why did Pippi Finance choose to launch on HECO?

Alexander: In very simple terms, why would we want to drive a slower car that costs more to run? We are all about gamification, so we want to maximize the feedback loop of earning, staking, and earning again.

All these and more can be achieved by HECO’s superior speed and much more (insane) low transaction fees.

Admittedly, while HECO might not have the level of adoption Ethereum does at the moment, Huobi’s ability and drive as it continues on this right track will reduce the difference as the adoption of Huobi grows in the foreseeable future.

Q3

Evan: Could you give us some info on the Pippi Finance Token?

Alexander: Pippi Finance platform Token is $PIPI

Contract Address: https://hecoinfo.com/token/0xaaae746b5e55d14398879312660e9fde07fbc1dc

PIPI token is a governance token of the Pippi Finance platform. It will also capture the economic benefits of the protocol. There will be a maximum of 100 million PIPI tokens.

IDO: 8% (8,000,000)
FARMING：70% (70,000,000, Emission: 12.5 $PIPI per block）
AIRDROP TO Community: 2% (2,000,000)
Community Treasury: 20% (20,000,000, locked for 3 months)

In addition to $PIPI, you can get xPIPI with 1:1 ratio by staking $PIPI. xPIPI can be used to get airdrop tokens.

Contract Address: https://hecoinfo.com/token/0x8377d9a4069e92653906a061fa66270476c1dc9e

25% of PIPI emissions are distributed to xPIPI holders every block. Users can claim these rewards and re-invest them.

• PIPI holders can swap PIPI for xPIPI at a 1:1 ratio.
• PIPI is distributed proportionally at each block based on xPIPI holdings.
• xPIPI is also used to earn tokens from xPIPI Pools

Here is Pippi Finance official website: https://app.pippi.finance/farms

Q4

Evan: What would be one’s motive to hold Pippi Finance tokens? What can we do with $PIPI?

Alexander: PIPI token holders can Stake LP Tokens to earn $PIPI — $upporting 29 Pairs right now https://app.pippi.finance/farms

Stake $PIPI to get $xPIPI with 1:1 Ratio and to earn airdrop Tokens
https://app.pippi.finance/xpipi

Q5

Evan: If you were to summarize your project in 1 word, what would it be? Why?

Alexander: Suitable. Pippi Finance is dedicated to building for HECO, providing comprehensive services for all traders. Pippi Finance will provide users with the best experience and provide HECO with the best eco services. If I have to summarize Pippi Finance in ONE word, all I can think about is suitable.

Q6

Evan: What is Pippi Finance’s Roadmap?

Alexander: In the short future, we are upgrading Pippi Swap to V2. Pippi Swap v2 will design liquidity protection mechanism so that a liquidity provider always gets back the same value he/she originally deposits plus trading fees through a novel concept called Impermanent Loss Insurance. Impermanent Loss Insurance accrues over time, by 1% each day, until 100% protection is achieved after xx days in the pool.

In additional to the current products, we will have launch more products in the short future, including

Lending & Borrowing: Lend and borrow HECO and LP tokens — $PIPI provides a rate discount that is affordable and has an easy pay-back option.
Margin Trading: Users can trade HECO tokens with leverage on-chain — periodic $PIPI buyback and burn options.
Analytics, and more.

Please stay tuned and follow Pippi Finance for the latest updates

Q7

Evan: Anything else you guys would like to add before we go into the live questions session?

Alexander: Pippi Finance provides comprehensive services for all HECO users, you can trade, farm, get airdrop tokens, purchase NFT, and more. Join Pippi Finance now!

Live Question Session

Q1: Tell us about your plans for 2021, what are you currently working on, and are you going to expand the list of big exchanges?

Alexander:

Our short term plan, which we are doing it right now is to developing more products: lones, IDO, margin tradings, etc…

Also, we are also improving our current product: support more LP minings, provide better NFT trading experience, support more tokens for xPIPI tokens holders to mine.

For exchange listing, we will definitely do, and off course, Huobi Global will be final goal to be listed on. Huobi has an incentive plan which outstanding projects can list on Huobi for free. That is we are aiming to realize. In order to make this happen, we will focus on the current works.

Q2: Tell us a little bit about your security? Have you done an audit of the platform? Are the smart contracts error-free? What are the test results

Alexander:

As a DEX, which will process huge amount of asset, security is one of the most important things for us. We have audited by Armors Labs.

Here is the audit report
https://pippi.finance/static/media/Pippi%20Shrimp_audit.1cd63cbb.pdf

Armors Labs will keep protecting Pippi Finance’s products and audit our all future contracts.

Q3: Are you planning to burn or buy back any tokens from the market in the future? Do you have such programs?

Alexander:

Yes, we do. Pippi Finance will burn $PIPI regulartly. For example, early this month, Pippi launched a NFT product, where people can purchase CryptoPunk NFT by $HT, for all the HT from the sale. 50% of the total amount were being used to buyback PIPI and burned

here is the announcement
https://twitter.com/pippishrimpswap/status/1382951997096091648

Beside this, Pippi has more plan of burn

Q4: Could the community be useful in any way regarding marketing, or some how spreading the word around to potential clients that would benefit from Pippi Finance ?

Alexander:

Besides provide good quality trading services, Pippi Finance has created partnerships with many well known project including HOO, TokenPocket, Seaweed, etc.. Pippi Finance will keep working on it

Q5: I see many notable Investors behind Pippi Finance. Have you thought to run a public sale? Or planning to listed on Exchange directly?

Alexander:

PIppi Finance has done IDO in March

For exchange listing, we will definitely do, and off course, Huobi Global will be final goal to be listed on. Huobi has an incentive plan which outstanding projects can list on Huobi for free. That is we are aiming to realize. In order to make this happen, we will focus on the current works.

Q6: Pipi finance have now good pairs but after doge and TRX success do you plan bring small price coins on board ?

Alexander:

We don’t rating those projects/tokens from price aspect. if the project is solid and has good potentials, we will always confiding about listing them, or support LP mining.

Q7: Almost 80% investors have just focused on price of token in short term instead of understanding the real value of the project. Can you tell us on motivations and benefits for investors to hold your token in long term?

Alexander:

Sure. If you are holding PIPI, you can join minings with great APY; or you can stake PIPI tokens to get xpipi tokens with 1:1, you can use xpipi to receive airdrops tokens and Pippi Finance’s partners’ tokens; then, you can use the airdroped tokens to join LP minings. is a full circle. holding PIPI to earn more, and use all earnings to re-stake again. here are the benefits for holding PIPI

Q8: Pippi finance is offering staking mining and air drop reward for holders, what about traders, do they not deserve reward?

Alexander:

We will host trading competitions in the future. If you are talking about trading mechanism such as Safemoon, Pippi Swap does not go to the same path with them.

Q9: What is Pippi Finance ‘s strongest advantage to being the market leader? Is it different from competing projects?

Alexander:

Provide great and comprehensive services. We won’t stop until we become the best DEX on HECO

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