PERI Finance
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PERI Finance

May 2021 Update_PERI Finance

We are pleased to share current overall status regarding PERI Finance. As our dApp will start to open public by starting the bug bounty program, PERI will announce our development progress update steadily.

First of all, Here’s the roadmap in June:

Coming up in June

Bug Bounty Program
The bug bounty program will start once the dApp is launched on the Ethereum Kovan Testnet. To enhance PERI dApp’s reliability and security, users can submit their bug reports, and we will assess the reward to users that raised some critical issues regarding our products.

CertiK Audit Report

CertiK, the leading blockchain security firm that conducted more than 200+ audits, is currently auditing PERI Finance, and it will finish in the 4th week of June.
See the link about PERI’s auditing progress below:
https://www.certik.org/projects/perifinance

About CertiK
CertiK is a blockchain, smart contract, and live contract verification platform founded by professors from Yale and Columbia University. Expanding upon traditional testing approaches, CertiK utilizes mathematical theorems to objectively prove that source code is hacker-resistant to some of the most critical vulnerabilities. With the mission of raising cybersecurity, CertiK is backed by prominent investors, including Binance Labs, Lightspeed, Matrix Partners, and BitMain.

Launch dApp on the Ethereum Mainnet

Once the bug bounty program is over, we will apply the bug report and make the dApp live on Ethereum Mainnet. After applying the bug bounty report and audit from CertiK, we estimate that official Mainnet launch date will be around the end of June ~ 1st week of July. We will notice once it is confirmed.

dApp Details

Staking

This dApp will include the staking function, which will incentivize the long-term supporters of PERI Finance and enlarge the volume of PERI holders. The staking dApp is also a great way to increase awareness of PERI Finance’s project and give adequate rewards to the community and supporters of PERI Finance worldwide. PERI Staking users will get pUSD based on C-Ratio, which refers to the basic Pynths(PERI Synthetic Assets) on the PERI Exchange that follows USDC price simultaneously.

Burn

Users can receive PERI or USDC by burning pUSD. In the near future, Burn tools will also be used for generating other Pynths in the PERI.Exchange, such as pBTC, pETH, etc.

Claim

Staking users can claim rewards from the Claim page. Since the stability of the PERI system is improved by staking volume on the dApp, PERI Finance will incentivize staking participants by rewarding them. Rewards are from revenue distribution generated by inflation of PERI tokens.

The dApp is in the final progress with the internal test, and the Bug bounty program will release to the users soon.

Notice to the Previous users who participated Uniswap Liquidity Rewards Program:
Due to the official staking dApp launch on our platform, our previous Rewards Program has been revoked. If you had submitted a previous rewards program, please mail to contact@pynths.com for further support.

PERI Activity Recap — May

Listing — IEO/IDO

On the 10th of May at Gate.io’s Startup session, IEO PERI Finance more than 57 million USDT and over 18k contributors, and it was an unprecedented record on Gate.io startup history.

Community Updates

As for the communication with users worldwide, PERI participated in numerous AMA sessions in May. We will continuously hold communication programs with various communities.

About PERI Finance

PERI Finance is a decentralized, cross-chain synthetic asset issuance and derivatives exchange on the Polkadot network. PERI Finance allows accessing a wide range of both traditional financial and crypto assets in the form of leverage and non-leverage synthetic products. We empower users with the lower GAS fee, speedy transaction, and ample security from front-running or flash loan.

Website | Twitter | Medium | Discord | Telegram(Global)

**We’re looking for highly talented people who are interested in Defi!
Check this LinkedIn hiring page!

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