A Recap of Pippi Finance AMA with Jinse Finance — DEX is the fulcrum for leveraging Defi
Deo attended an AMA event hosted by Jinse Finance, here is the recap of the event
On April 7th, Jinse Finance invited Deo, a Pippi Finance investor, to be the guest of the AMA series “Blockchain·World Chronicles” to discuss Pippi Finance’s innovation in the DEX field and future development strategies.
In the event, Deo first introduced Pippi Finance. He said that Pippi is a DEX dedicated to building a complete ecosystem. Currently, it has opened up four core functions: Exchange, Farming, Single Token Staking, and xPIPI AirdropNFT related projects will be launched in the near future.
When Deo was talking about the advantages of Pippi, he said that Pippi attaches great importance to product infrastructure. Unlike other AMM SWAP projects, Pippi V2 will add Impermanent Loss Insurance to protect users in the event of token market price fluctuations. It is still possible to withdraw tokens of the same value as when liquidity pools were provided at that time. In addition, the PippiSwap exchange fee is only 0.2%, and most other projects are 0.3%, especially for users with large exchange needs, using the PippiSwap platform is a more economical choice.
The followings are Q&A and enjoy
Question 1: First, Could introduce Pippi Finance, please?
Pippi Finance is a DeFi project driven by the Huobi Ecological Chain (Heco). At present, our project has four core functions:
- Exchange function, including swap: direct exchange between various Heco currencies; pool: add liquidity trading pairs, used for liquidity mining preparations.
- Farming: users obtain PIPI (Pippi Finance’s platform token) by providing liquidity. At present, we have supported more than 20 pairs of liquidity mining. At the same time, we are also actively expanding partners and will continue to launch new pairs in the near future.
- Single Token Staking: currently, users are allowed to obtain PIPI by stake a single PIPI token, and xPIPI is generated at the same time as the pledge; when we talk about our fourth function
- xPIPI Pool airdrop pool, xPIPI can be pledged again on our platform to obtain airdrop coins from the project parties that cooperate with Pippi. For example, we currently have $PTD, $ONE, and SWF online. Of course, we are also actively connecting, and new airdrop coins will be launched in the near future.
In other words, as long as the user has a Heco wallet and enters our project page (Https://app.pippi.finance), they can start with any currency exchange and obtain the first liquidity mining to gain PIPI, and the second to heavy PIPI single token earnings; third, to use xPIPI pledges to harvest Pippi cooperative project tokens
Of course, our products are not limited to this, please look forward to the future.
Question 2: I am more curious about xPIPI. Can you tell us what is xPIPI? What are the differences to PIPI?
$xPIPI is obtained by staking PIPI. Unlike PIPI, it is not a token. It is a new voucher obtained by staking our platform currency PIPI. 25% of the PIPI generated by the farm’s mining will be released to the staking pledge pool. By staking PIPI, users will obtain the xPIPI certificate according to the PIPI pledge amount 1:1 while harvesting PIPI. This xPIPI voucher can be pledged twice in xPIPI Pool to obtain the tokens of other cooperative projects. At the same time, users can use the harvested third-party tokens to form a new liquidity trading pair and perform PIPI mining again in the farm to form a complete Ecological closed loop.
This ecosystem is simply: liquid mining PIPI (Farm)-PIPI pledge to obtain xPIPI (Staking)-xPIPI obtains third-party tokens (xPIPI Pool)-formation of a new liquidity trading pair (exchange)-liquidity mining PIPI (Farm)
Question 3: We know that Pippi Finance is a platform based on Heco. Why did Pippi choose Heco?
First of all, Heco’s transaction fees are very low. Compared with the high gas fee of Ethereum, Heco is almost free, and the speed of Heco is very fast, which is very beneficial to users and project parties; secondly, based on the advantages of the first point, the entry barrier for users is low, which will have a very positive effect on customer traffic, and the number of users will gather and grow efficiently, resulting in a long-term benign profit effect. We are happy to see the project site; third, the development cost on the Heco chain is much lower than Ethereum, and the Heco side has given the entire Huobi ecosystem flow blessing and technology blessing.
Heco is in the early stage of rapid ecological development, and its emergence allows us to see another possibility, so we did not hesitate to choose Heco.
Question 4: At present, many DEX platforms have appeared on Heco, BSC, and Ethereum. In such a competitive market, what are the advantages of Pippi Finance compared with other platforms, or what are the differences?
First of all, as we just talked about choosing the Heco chain as our project platform, Heco’s advantages allow us to quickly grow from 0–1 in this ecology. Less than 5 days after the launch of the Pippi project, the liquidity pledge (TVL) exceeded$200 Million.
Secondly, our project goal is to create a complete ecosystem, so in terms of internal planning, on the one hand, we actively expand the product system. Currently, Exchange function, Farming, Staking single pledge, and xPIPI Pool have been launched. Also, NFT will be launched soon; on the other hand, the product infrastructure will be deepened. Unlike other AMM SWAP projects, Pippi V2 will add impermanent loss Insurance, which is simply to protect users from price fluctuations in the token market Tokens of the same value as when liquidity (LP) was provided at that time can still be withdrawn. In terms of external planning, we have been actively seeking cooperation. At present, we have received a strategic investment from TP Labs and Hoo. In the 10 days since the launch, we have successively cooperated with Pilot Protocol, LendHub, Mdex, BeeSwap, BigONE, Channels, Seaweed, GameDAO, and other project parties.
Cooperation has been reached, and the partner’s project tokens corresponding to liquidity mining (LP) and xPIPI’s airdrop pool have been launched. At present, we are also constantly contacting new project parties and trying more types of cooperation.
In addition, the more economical point is that our swap exchange fee is only 0.2%, while other projects are basically 0.3%. Especially for users with large exchange needs, using our platform is a more economical choice. I think if users do not know Pippi well, they can use this product as an entry point to get to know Pippi slowly. Of course, we hope that you can stay and experience more other modules and have fun together.
Question 5: We have seen that Pippi has launched the NTF catalog, and we have also seen that GameDAO has issued strategic cooperation. Is it convenient to disclose some specific development plans?
As mentioned earlier, we hope that Pippi can develop into an ecological platform, so we are doing active research on the projects of each track on the platform. NFT is a well-deserved explosion at the beginning of 2021, and we naturally also conducted research on this track project. It is only the early stage of the development of NFT, and there is a lot of room for imagination regarding the development of NFT.
Mabel, a partner at Multicoin Capital, said before that the interoperability of blockchain brings a premium on-chain liquidity. NFT provides a high degree of interoperability. At the same time, NFT can be used as a representative of non-traditional assets, which means that it can be used in many fields. In different fields, NTF represents a certain value, and the management of value can be completed in the blockchain through smart contracts. It is fully in line with the definition of the Defi project: a financial instrument running along with the blockchain.
There have been many attempts to develop DeFi+NFT products, and we are also actively looking for the possibility of Pippi interacting with NFT, and have found an entry point to start trying. What I can reveal now is that this entry point will be related to our xPIPI, and I believe this will be good news for xPIPI holders.
Question 6: Can you tell us about the future development plan of Pippi Finance?
In fact, some of our plans have already been mentioned in the part of the answer just now, so let me summarize:
Our main focus will still be on the development of decentralized trading products.
First of all, the deepening of internal product infrastructure, Pippi V2 will add the liquidity loss protection function (Impermanent Loss Insurance); secondly, in the expansion of the product system, we will soon launch NFT related products; at the same time, we are also actively researching and exploring other products; finally, with the goal of building an ecological platform, we are constantly expanding external business cooperation. In the future, users will see more cooperative products on Pippi.
Question 7: We are looking forward to the future development of Pippi. What channels are there to let us know the latest developments of Pippi?
The main official platforms of Pippi Finance are Telegram, Medium and Twitter, which can be reached directly through the following methods: