PERI Finance
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PERI Finance

PERI Finance X ExNetwork AMA Recap

Section 1 — Introduction & Main Questions

PatSu | The AMA Room: Please tell us what Peri Finance is. And if you could highlight your unique points compared to other DeFi platforms, that would be great 🚀

Richard Kim | CEO of PERI Finance: Our Project, PERI Finance 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.

PatSu: Cool! Big names have backed you up. awesome! What benefits does holding PERI have?

Richard: Good question. 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.
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.

PatSu: Hold on, what are these Pynths?

Richard: Pynths stands for PERI Synthetic Assets and is a synthetic asset of Forex, Indices, Commodities and Cryptocurrency in traditional financial markets.

PatSu: Oh I see! thanks for that. But really nice reward model you have there.

Richard: Now back on the rewards. 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.

PatSu: Very nice. Will you be available in Ethereum initially?

Richard: Yes, initially. The staking DApp is on Ethereum, so that we can take advantage of Ethereum defi ecosystem. But eventually, we are going to build everything in Polkadot. We are going to start the integration next month and will deploy the DEX by the end of Q2.

PatSu: Awesome!! very excited for this. Are you already live on Ethereum?

Richard: We are going to have both IDO/IEO on 10th of May. I believe that is the time we will deploy the platform on Mainnet Ethereum.

PatSu: Is it still open for people to join?

Richard: The private round will be finished tomorrow. so still slight chance has left. You can buy PERI on IDO/IEO and on the exchange like Gate.io and MXC after the launch.

Section 2 — User’s Questions

Question 1: PERI.Exchange says it will use virtual AMM model similar to Perpetual Protocol’s for perpetual contract. Can you tell us some of the key features of this model and the competitive advantages you would derive from using it?
Richard: vAMM’s key feature is setting the price by using Pynth perpetual contract with pUSD by selecting leverage and amount of pUSD as the Margin. Pynth’s perpetual contract exchange doesn’t need any liquidity or liquidity providers and order book. In the PERI exchange, traders don’t have to stake any additIonal asset for trading perpetual future swap contract.

Question 2: Would you explain us what is the PIP system and how it helps the communication between the project and the community? Does it have a role giving governance power?
Richard: PERI tokens are also used for governance. We have created a PIP (PERI Improvement Proposals)system to collect community opinions, so that anyone can submit a PIP using 1PERI, and when adopted, the number of PERIs used for voting will be reflected in the system. The PERI used at this time will be returned.

Question 3: How does Peri educate the community about what it intends to achieve in its project?
Richard: AMA per week is planned for the near future and through our medium(blog) and homepage(https://pynths.com ), we will continue to help educate the investors and users.

Question 4: Please tell us about PERI Finance’s plans? In particular those involving the major exchanges, CEX and DEX. What types of partnerships are you looking for and what value will they bring?
Richard: First, PERI Finance announced that its PERI token is coming to the public with DuckDao and Gate.io on 10th May, 2021 14:00 UTC. PERI has also got the confirmation from MXC. After those 2 CEX, PERI will focus on listing on other major exchanges such as Huobi, OKex and Binance. PERI is not going to forget DEX. PERI will be on Uniswap right after the launch and continue to work with other strategic partners.

Question 5: How about the experience and background of the @PERIfinance team, has it been effective in the success of your project so far? and what are your goals to revolutionize the blockchain and NFT fields?
Richard: trading system development 10+ years, 10+ years of experience in finance/fintech.
I think We’ve covered your first question above. We are on the right schedules so far for a number of IDO and IEO on 10th of May as mentioned. Synthetic assets have endless possibilities. PERI Finance’s NFT plan can be viewed as a choice that reflects the needs of the current market. Synthetic assets in NFT artwork will be applied slightly differently than the original synthetic assets. By synthesizing a single NFT asset, it will be partly owned by several people. More details will be announced through the whitepaper update.

Question 6: Who is your investor? How do you generate revenue to sustain the project? What are your goals to the end of 2021 and beyond?

Richard: Our Project has already participated various leading investors worldwide. Such as LD Capital, OneBlock, Dasheng Capital, BlueBloock, PrivCode(MXC), AU21, Mindworks, DuckDAO, Ruby Capital, Momentum 6, Ramprate, Blackdragon Capital, Blocksync, HotLab, 18 Ventures, Deep Ventures, CryptoRevolutionn, Dextforce Ventures, Quiverx, CSP DAO, Fermion Capital and others.
And here’s our project’s milestones below:
Mar 2021 Staking dApp launch on Ethereum Kovan testnet.
Apr 2021 Staking dApp launch on Ethereum Mainnet.
May 2021 DAO launch.
Jun 2021 Staking dApp and DEX dApp launch on Polkadot parachain testnet.
July 2021 DEX dApp launch on Polkadot parachain Mainnet.
Sept 2021 Add NFT synthetic asset
Dec 2021 Add Perpetual Futures swap

Question 7: Peri exchange is a DEX that works with derivatives markets, but can you tell how many types of Derivates are we talking about? Futures?

Richard: Delta 1 leverage, Futures Swap, synthetics itself are derivatives and by including various commodities and currencies, there are many different possibilities in the future.

Question 8: Could you tell us about some of the partners is currently working with you? DeFi, Staking and Yield Farming are hot topics right now in Crypto Space, did you make this project only for the short term because of these hot topics or Do you have a long term plan for this project?
Richard: As I mentioned last question, we already have numerous VC partners collaborating with our project. Also, we’ll doing IEO event in Gate.io on 10th, May.
Also, we can emphasize enough usability for all our stakers to deliver transparency and accessibility in DEX. Also we are committed to bring traditional financial products to crypto space and make them available to everyone. We are committed to help those not familiar with DeFi-technology or financial knowledge.
PERI team will not finish the journey with PERI Finance alone. Based on the experience and technology gained through PERI Finance, we will strive to achieve a more transparent financial system so that all types of users can access DeFi.

(AMA hosted on 29th. Apr, 13:00 UTC, at Telegram ‘The AMA Room’)

Please 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

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PERI Finance

PERI Finance

PERI Finance is a decentralized cross-chain synthetic issuance and derivative exchange protocol that provides unlimited liquidity