PERI Finance X DeFi Korea AMA Recap
Date: 10:00(UTC), June 10th 2021
Promotion: Total amount $500 for Pre-collected question and Live Question Users
Part 1. Introduction & Answers from Pre-Collected Questions
Mike Mu | Defi Korea Administrator: Let’s begin with pre-collected question from our community first.
1. All users using PERI FInance can mortgage PERI, USDC, and NFT assets. Then, does PERI has any plan about adding additional assets?
Gareth Bowles | Co-Founder of PERI Finance: Yes, it can be added or altered. In addition, other stable tokens like DAI could be used for staking same as PERI, USDC, NFT. As we mentioned in the white paper, these things will be fixed on the DAO based on the user’s participation. As for the tradable synthetic asset Pynths, we will add not only major crypto assets and traditional finance products like Forex, major indices, commodities but also various assets like NFT fractional assets. We will launch PERI.Exchange platform at 3rd quarter of this year.
Mike Mu: So the product of synthetic assets will be launched on 3rd quarter this year, sounds interesting!
2. You have set the allocation of PERI token for the staking amount the most. Any reason about focused on staking?
Gareth: By staking PERI, users can mint the basic synthetic asset ‘pUSD’, also we can create a commission pool through users’ synthetic assets trade using pUSD at the PERI Finance platform. Therefore, the platform can invigorate by staking PERI, and exchange will be increased using pUSD, thus we can expand the PERI ecosystem. So we set staking for the biggest amount from overall token allocation.
Mike Mu: 3. Many blockchain companies are continuing their technological and capital growth through exchanges between companies. How did your recent partnership with ChainLink, the leading Oracle solution platform, help you technically?
Gareth: In PERI Finance, the dApp platform working on the blockchain network, we use the on-chain oracle that is suitable for the idea of the distributed ledger. As numerous projects had already proved, PERI Finance will integrate Chainlink’s on-chain price feed for easily update real-time fluctuating prices. Therefore, PERI Finance will able to provide more reliable synthetic assets and DeX exchange. By integrating Chainlink, the representative middleware connecting between on-chain and off-chain networks, PERI Finance can make a more solid dApp platform.
Mike Mu: If the project is relies on oracle, I also think that Chainlink would be the best solution!
4. There have been a lot of hacking in BSC recently. And there were a lot of flashloan attacks. Does PERI Finance have sufficient preparation for such hacking?
Gareth: We acknowledge that many users have concerned about the Defi platform’s safety issues. For this reason, PERI Finance also concentrated on dApp security. We inserted all security code on all known issues, and we’re conducting the external audit for all our smart contracts to prepare external hacking, flash-loan attacks, and so on. As we announced on Medium before, CertiK is currently auditing the PERI finance dApp, and we will integrate the overall result of auditing to provide users using our platform safe.
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Mike Mu: 5. Many projects link NFT as a kind of additional service, and frankly, it seems that everyone follows what they do rather than the novelty of the project itself. I heard that the team will create synthetic assets associated with NFT and use them to build an NFT ecosystem. How are these NFT-related plans will different from other teams?
Gareth: PERI Finance not only launches DEX regarding NFT Fraction, but we also provide a DEX platform that can trade NFT fractional synthetic assets. Also, we will attract arbitragers to participate in arbitrage trade by offering leveraged NFT fractional synthetic assets DEX. Therefore, we can create more commission pools and reward extra users.
Part 2. Live Questions from Community Users
Q1. It’s hard to check the 2021 roadmap on the PERI Finance team’s website, so I wonder where I can check the 2021 roadmap, and I’m currently developing it according to the plan for the second quarter, is there anything that needs to be improved?
A1. To understand the roadmap of PERI Finance, I will upload our One-pager file here. Feel free to share this:
Also, we are developing the staking, burn, and claim dApp, and we will make the platform more complete by holding a bug bounty program and applicating CertiK security audit.
Q2. Synthetic asset projects are representative such as synthetics, curve, etc. What are the advantages of peri-finance compared to these?
A2. Compared to Synthetics and Curve, the specific advantage at PERI Finance is users can use PERI DEX and Perpetual Futures Swap with one-time staking. For example, if a user receives 1,000pUSD through staking, 500pUSD uses for buying pBTC, pWTI (a synthetic asset that tracks the price of crude oil), and other 500pUSD can buy maximum 20x leveraged pBTC, pWTI perpetual futures swap. In this process, arbitragers can benefit from unfettered trading between DEX and futures trading, which is the advantage of other DeFi.
Q3. What are the advantages of having a peri token? And do you have any thoughts of listing on the centralized exchange in the future?
A3. Users holding PERI token can receive rewards through staking in a dApp that will be launched soon, and a pUSD (a synthetic asset with the same value as USD) which is a synthetic asset received at a certain rate from users who have staked can trade a variety of synthetic assets and futures. We are contacting additional exchanges to launch shortly, and we will announce PERI’s various communication channels as soon as updated.
Q4. I understand that the peri-finance liquidity program began on June 1st. But you can’t participate at the moment. By any chance, could you increase the pool of liquidity programs a little more so that I can participate?
A4.We previously created the rewards program, but we had to postpone that due to the imminent launch of a staking dApp. Users will be able to receive liquidity rewards directly through our staking platform.
Q5. In order for peri tokens to grow, I think they need to have a collaborative relationship with various token projects. What projects are you planning to work with?
A5. PERI Finance recognizes that increasing the ecosystem is essential to success, and we are contacting various Defi projects and platforms for partnership. More news will announce through our official 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.
**We’re looking for highly talented people who are interested in Defi!
Check this LinkedIn hiring page!