PERI Finance X BlockStation AMA Recap
AMA Info
Date: 10:00(UTC), 17th June 2021
Place: https://t.me/blockstation_chat
Promotion: Total amount $500 for Pre-collected question and Live Participated Users
Part 1. PERI Finance Introduction
Tom | BlockStation Telegram Operator: Today’s AMA speaker is Gareth Bowles, Co-founder of PERI finance. Please introduce yourself to the participants of today’s AMA.
Gareth Bowles | PERI Finance Co-Founder: I’m Gareth Bowles, co-founded the PERI finance. PERI Finance participated in the AMA event with Block Station for more communication with Korean users. I hope this AMA clear the doubt and We ask for your interest in PERI through the AMA!
Part 2. Answers from Pre-Collected Questions
Q1. What advantages does the PERI Exchange have compared to other decentralized exchanges?
A1. The PERI Finance Decentralized Exchange (DEX) provides access to all processes from staking to trading and futures swaps in one dApp. Compared to other exchanges that have to go through multiple staking processes, we focus on enhancing the convenience of users by enabling all processes from trading various synthetic assets to arbitrage trading of leveraged futures swaps and compensation claims with only one time staking.
Q2. Recently, there have been a lot of flash loan attacks in Binance’s smart chain, and I’m curious about what any countermeasures that PERI Finance has. And also, I want to know if there is a stable safety device for flash-loan attacks.
A2. PERI Finance extremely concerns the issues related to user information and dApp security, and for this purpose we have started a bug bounty program that users can participate directly to find the bugs on dApp.
Users can excess to dApp site and source code specified in the program on Github, and if meaningful issues are found, appropriate rewards will be provided as announced.
Additionally, PERI Finance requested a technical audit from CertiK, an audit firm specializing in blockchain smart contracts. The results will be released around the end of June 2021, and all security issues found in this process will be updated and reflected before launch.
Q3. Many projects disappear within a short Period of time. Is there any special difference between PERI Finance and other projects that it can continue for a long time?
A3. PERI Finance is definitely not a short-term project. PERI Finance, assembled more than 35 strategic partners that you can check at website in participated in the investment, has set specific and clear long-term goals as seen in various road map announcements and white papers. To make it real, we are continuously proving our work through announcing new dApp and actual development is ongoing.
As shown in many Defi projects, it may take some time for the actual service launch to take place, but PERI Finance will create a project with a long-term perspective to ultimately realize a platform that breaks down financial barriers.
Q4. Could you please explain in detail Pynths that can be leveraged?
A4. Pynths, which refers to the synthetic assets of PERI Finance, will provide crypto assets and various types of traditional finance as synthetic asset products, including foreign exchange trading (Forex), several crypto assets such as BTC and ETH, commodities, and NFT asset. It is possible to trade leveraged up to 20 times in the form of an perpetual futures swap.
Q5. Are there any benefits of long-term holding for PERI finance?
A5. Users who hold PERI, a token of PERI Finance, for a long Period of time can receive staking rewards set in token distribution and rewards from the fee pool through our dApp staking. We set 45% of the total token distribution as staking rewards, providing reasonable rewards for users who support PERI in the long run.
Q6. Is the issuance of ferries fixed or can there be changes such as additional issuance or burns in the future?
A6. PERI Finance’s token PERI has a fixed maximum issuance of 20 million, and will continue to issue allocated tokens according to the distribution schedule shown in the figure above. In addition, we will adjust the circulation to prevent excessive inflation by encouraging participation in staking, adjusting the liquidity pool, and burning it.
Q7. The NFT and DEFI markets are still hot, and I would like to know if PERI is preparing for it.
A7. PERI Finance is also aware that many products related to NFT launched in the crypto industry recently. Instead of directly trading NFT products, PERI Finance plans to launch a service that trades NFT fractional assets, which are synthetic assets that have been fractionized.
Q8. For the development and sustainable of the project, the foundation’s finances must be stable. I wonder if the financial situation of the PERI project team is good and how they will generate profits in the future.
A8. As you can see from the partner list on the website, PERI Finance participated in the investment by more than 30 venture capitalists who are prominent in the blockchain industry along with LD Capital, which initially invested in EOS. Based on these strong financial resources, we are constantly striving for dApp development, partnerships, marketing, and recruitment, and are developing to generate steady profits based on the PERI Exchange, which is scheduled to be launched in the third quarter.
Q9. The crypto market in Korea seems to have harsh regulation in September. How are you preparing for this? Perhaps everyone is afraid that coins, which are active without any problems like Paycoin, have become warning items in Upbit. What preparations are there in the harsh regulation of the Korean crypto market?
A9. PERI Finance is also aware that users are feeling anxious about the news of the delisting of some coins in the Korean market. In the preparation for these issues, we plan to present that it is a platform that can bring innovation not only in crypto finance but also traditional finance by operating dApps that are actually actively running. We will do our best to keep the token trading alive.
Part 3. conclusion
Tom: Thank you to the subscribers for preparing high-quality questions and to the person in charge of the PERI Project who prepared a lot for answers. If you have any additional comments about the project, please do so.
Gareth: Thank you very much for your times and to help users understand PERI Finance well, we share our One Pager below.
Thank you very much for attending and listening to this AMA. PERI Finance opened a bug bounty to receive opinions on security issues from various users before the launch of the dApp. You can check the dApp and smart contract codes by going to the link posted on Medium below, and a dApp guide for users will be published soon through our community channel.
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.
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