PERI Finance X CryptoFamily(Hosted by Titans Ventures) AMA Recap

Time: 21:00 PM (UTC + 7) on Tuesday, May 4th, 2021
Venue: https://t.me/CryptoFamilyGroup
Airdrop 200 USDT for the best questions in the AMA.

PART I: INTRODUCTION OF PERI

Maru Nguyen | Moderator of CryptoFamily Room: Please introduce briefly about some products of PERI Finance.

Gareth | Co-Founder of PERI Finance: First an overview of Peri Finance: The project is to build all kinds of synthetic assets DEX on Polkadot. We are building a synthetic asset DEX where everyone is able to collateralize PERI, USDC and NFT to seize the opportunity of on/off chain and traditional finance/non-finance assets’ value fluctuation.
The platform will provide both simple and leveraged synthetic assets called Pynths, which will attract arbitrageurs and increase trade volume, benefitting the stakers. We have got LD Capital, OneBlock, BlueBloock, PrivCode, Ruby Capital, Dasheng Capital, Ramprate, 18 Ventures, Blackdragon, Blocksync, BTA and others as the investors. The seed round was finished and led by LD Capital.

Maru: Move to the next question, could you tell me some outstanding features that make PERI Finance ahead of other projects?

Gareth: The most important thing for PERI Finance’s project is “Synthetic Asset“. Synthetic Asset is a very powerful tool for accessing all kinds of assets. We named it Pynths.
Pynths stands for PERI Synthetic Assets and is a synthetic asset of Forex, Indices, Commodities and Cryptocurrency in traditional financial markets. The price moves according to the actual price of the underlying asset. It can be called Delta One derivatives, however since transactions are carried out by smart contracts within the blockchain network and all assets sits on my wallet, they are transparent, very convenient, and highly reliable. Pynths products are USD, EUR, GBP for Forex, S&P500, HANGSENG for Indices, Gold, Silver, Oil for Commodities, BTC, ETH, LTC for Cryptocurrency.
The reason behind choosing Polkadot Network is the Polkadot’s interoperability by which we can easily move our value from one network to another. Thanks to Polkadot’s RelayChain, everyone will be able to mint Pynths without using converting their crypto-asset to another. So, the ecosystem will be extended to all Blockchain networks connected to Polkadot.

Maru: Are there some upcoming hot news or big events of PERI Finance that you want to update to the community?

Gareth: Absolutely! First of all, here’s our milestones as below:

1Q 2021: Staking dApp launch on Ethereum Kovan testnet
2Q 2021: Staking dApp launch on Ethereum Mainnet, DAO launch
3Q 2021: DEX dApp launch on Polkadot parachain Mainnet, add NFT synthetic asset
4Q 2021: Add Perpetual Futures swap
We’ve got various leading venture capital’s investment and IEO/IDO confirmation so far.
Furthermore, our team is going to get web3 foundation grants soon and will keep constant and close eyes on technology change on Ethereum such as ZK-Rollups as well as Parachains with WSAM and EVM on Polkadot, so that we can apply the solutions to the platform as soon as there comes any technology that works better on Polkadot.
Also, PERI Finance keeps contacting some of the leading cryptocurrency exchanges to list PERI token like Binance, Huobi, etc. We will update every big news when the listing event is confirmed.

Likewise have already updated to the community info about PERI IEO/ IDO on many platforms.

Maru: The information you provided is really fruitful. And I believe all the members here would love to hear more about the project, and they have many questions submitted on Twitter today!

PART 2: PRE-COLLECTED QUESTIONS FROM TWITTER

1. How is PERI development going? Can you describe in details your current development efforts, market expansion plans, expected applications, and when will they become commercially available?
Gareth: thanks for that — PERI is about to staking our dApp launch on Ethereum mainnet. We will keep adding various functions regarding synthetic assets, NFT artwork, other tokens via cross-chain platform. Also, PERI holders will be able to vote on PERI DAO, which is a decentralized organization of PERI Finance ecosystem.
At first, we have an IEO/IDO event on gateIO exchange, DuckDAO and KickPad. The event will be open on the 10th of May, so be sure to check our official channels like Telegram, Twitter, Medium and so on!

2. What is Pynth and what utility can it bring to users? What are the rewards for staking PERI and minting Pynth in the PERI.Pool ? Is there any problems causing by lack of liquidity or slippage existing in the pool ?
Gareth: Good question. I will explain the Pynth by PERI.
PERI is a utility token used to create a liquidity pool in the process of staking, generating the basic Pynths, 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. Among those 3 rewards, 2 rewards are given by PERI token.
The first reward comes from PERI inflationary supply policy. Initial supply of PERI will be 11,000,000 and 9,000,000 more will be issued for 40 months as compensation for staking with weekly interval, resulting in a total of 20,000,000 in circulation.
Also, the second reward is the distribution of PERI.Assets’ revenue. The managed funds come from 50% of the fund raised by PERI token sales, so the holders can be rewarded additional profits only by staking PERI.
Lastly, the distribution of commissions incurred in Pynths transactions and leveraged Pynths contract trading. The system will take approximately 0.3% of the fee and transfer it to the fee pool which is to be distributed proportionately to the entitled PERI stakers.

3. What is your long-term vision about the industry which you are working on? Are you afraid some day there will be another project with more innovative technology can replace your project?
Gareth: We will keep moving on to the leading DeFi platform with the growth of Blockchain society. DeFi is currently at the core of the blockchain industry, but we are thinking of DeFi as a new industry between the traditional finance and blockchain industries. DeFi offers potential growth opportunities for blockchain projects. The effects that DeFi has had on crypto-space are huge, and we will keep navigating the marvelous plan.
Therefore, we will keep innovating this project even though other projects are threatening us. Please keep watching the PERI Finance:)

4. Does the $PERI project plan to use multiple chains simultaneously in the future? Are you considering joining Binance’s NFT activities? I think if we can maintain cooperation with BSC in the next few months, the project will be greatly developed!
Gareth: Thank you for your idea. And we’re going to use 3 multiple chains; Polkadot’s Parachain for mainnet, Binance Smart Chain & Ethereum for token sale. And we’ll notice later once we’re going to use expand our network by offcial channel.

5. What achievements have you achieved till now? Please tell us about the real value that partnerships and community bring to PERI Finance, as well as your goals to revolutionize in the blockchain and NFT field.
Gareth: So far, we have agreed to multifarious venture capitals’ investment approval. Also, PERI Finance announced that its PERI token is coming to the public with DuckDAO, KickPad and Gate.io on 10th May, 2021 14:00 UTC. By those supports, we will keep revolutionizing the DeFi industries and allocate our profit to PERI holders.

PART 3: FREE-ASKING QUESTIONS

1. The goal of the DeFi is to create a new financial system that eliminates subjectivity, bias, and inefficiency by relying on programmable terms. Does your project support this vision and how does it participate in the DEFI space?
Gareth: Of course, the idea is to make access to financial markets fast, fair and transparent in a way that traditional financial instruments do not.

2. Which area are you focusing on at the moment? (DeFi, Stake,Dapps..Yield Farming,,NFTs,,Gameing) and what is your goals in this year ?
Gareth: As you see our project’s name PERI Finance, we are currently aimed at DeFi platform development.
Our biggest goal of this year is launching dApp on Polkadot parachain Mainnet, and adding NFT synthetic asset until 3Q 2021. We will keep update various dApp function, so please stay tuned at our official channel.

3. Community size is an important part of any blockchain project, the PERI telegram community has a slightly low members of less than 1,000….How do you intend to drive more attention to PERI community?
Gareth: Defi aims to available to everyone. And providing global community is important for the users. Peri Finance will communicate with users through various channels and platforms, continue to care for and expand the PERI community by fully utilizing our previous experiences. This is directly connected to the role of good governance and corporate responsibility in the future.
At this moment, we have more than 5k auditors at the announcement channel, and 3k+ followers at various SNS channel like twitter, telegram global channel and so on.
We will keep opening lots of event like AMA, airdrop and community talk etc, so please spread PERI Finance to the friends.

4. Southeast Asia is a very vibrant market and many project developed here so with your project what do you think about Southeast Asia and do you have any plan to develop here??
Gareth: We already have PERI’s Vietnam community on our official channel. Thanks to the CryptoFamily, Vietnam channel exceeded more than 1k followers.
We will keep notice updates via various Southeast crypto channels. Thanks for the Vietnam people’s support to the PERI team.

5. Now, the token launch process is easy, but to develop the ecosystem, stabilize prices, expand the market is a challenge in every project? So what are your team first steps towards solving this problem? what is your plan to maintain token price & supply in the market?
Gareth: Yeah, you’re right. Building the ecosystem and stabilizing price are the most important things we need to keep caring about. What we are tying to do is to keep building platform to be more robust one and making partnerships for the development and top tier projects. We also keep tying to grow the ecosystem by communicating them. As you know we will have Peri.DAO where the community will do pivotal role for making the platform more stable and user. They participate all kinds of decision making as well so they will be part of the project. That’s exactly communication with users. We believe the price will be stable by growing the platform and ecosystem and awareness of PERI Finance.

Maru: Seems like there are many things to learn more, but I’m afraid the time is up now. Mr Gareth has finished answering all the questions. Many thanks to all of your answers in Crypto Family Trading Group today, we all hope Peri will gain sound success in the upcoming IDO and listing!

Need more info? Check below for more information about PERI Finance!

Website: https://www.pynths.com/
Twitter : https://twitter.com/PERIfinance
Medium : https://medium.com/perifinance
Discord : https://discord.gg/FF8U8A458j
Telegram : https://t.me/peri_global

[Disclaimer]
Pynths team members will NEVER DM you first on any platform. There are multiple fake Pynths tokens out there. Do NOT attempt to search and buy Pynths token before an official listing announcement.