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PERI Finance x Satoshi CLUB AMA Session 07 May 2021

PART 1. Introduction of PERI Finance project and community questions.

Hello, Satoshi clubbers and guests of this site. We are happy to present to you with the future of synthetic issuance and derivatives.

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

The plan of AMA session:

  1. Part — Introduction and preselected questions.
  2. Part — Live questions
  3. The Quiz about PERI Finance

The reward pool is 500$

Leading the AMA our clever and fun admins:

Mary | Satoshi Club — @madamlobster

D. | Satoshi Club — @Cool_as_Ice

The Representative of the project:

Gareth Bowles — Co-Founder of PERI Finance — @garethbowlesperi

Introduction of PERI Finance project.

Mary | Satoshi Club:

Hello Satoshi Club! We are happy to announce our ama session with peri finance! Welcome to Satoshi Club

D| Satoshi Club:

Hello and welcome!

Today our guest — @garethbowlesperi !

Gareth bowles:

Pleased to be here Satoshi Clubbers!

Mary | Satoshi Club:

Hello, Gareth

welcome to Satoshi Club

D| Satoshi Club:

Glad to see you in our club!

Gareth bowles:

Hi all! Glad to see you too

Mary | Satoshi Club:

Let’s start

Gareth, could you please introduce yourself and tell us more about peri finance

Gareth bowles:

Sure, well, I was fascinated with blockchain technology about 2017 and jumped into it.

Thanks to my previous involvement of fx market, there were some friends who had been in the crypto space.

D| Satoshi Club:

2017 ahhh..magical year for crypto

Gareth bowles:

Absolutely!

I volunteered to be an advisor for some projects that I thought would be successful.

Mary | Satoshi Club:

Oh, that must have prevented some mistakes

I mean your friends

Gareth bowles:

Haha, you’re right. Anyway, I’ll introduce our project, peri finance

Mary | Satoshi Club:

Sure

Gareth bowles:

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!

And also, our project participated in lots of VCS, such as Idcapital, Oneblock, Dasheng capital… And so, on

Too many members I cannot remember all. Apologize me

Mary | Satoshi Club:

Np, we always can check on your site

D| Satoshi Club:

Yeah, you have lots of VCS I have read your medium article today about strategic investment

Gareth bowles:

That true! Thanks!

Mary | Satoshi Club:

Why did you choose this direction?

Gareth bowles:

Okay, by the time I got the hang of the blockchain, I decided to build a platform called VCN which could have been the first DeFi project. And in 2018, I started the ICO with the prototype.

However, I had to drop it since the market wasn’t matured enough to accept the idea and I didn’t want to take any of multi-marketing money, returning to my existing business.

After a few years of non-blockchain business, I looked back to blockchain space again.

Then I realized the market was mature enough to build my idea.

That’s why I started the project!

You know, DeFi offers potential growth opportunities for blockchain projects.

The effects that DeFi has had on the crypto space are huge!

D| Satoshi Club:

Great! So your idea was born back to 2018

Gareth bowles:

Correct!

Mary | Satoshi Club:

That has sense

today is a really good time to start

Thank you for your intro, Gareth! Do you want to add something, or we can go to the questions from our community?

Gareth bowles:

Okay, then can I introduce our community page again? Like Twitter, telegram channel, and so on.

Mary | Satoshi Club:

Sure! You have to do this!

Gareth bowles:

Thanks all! Our telegram and Twitter pages address are as below:

Stay tune our newly developed any updates, thanks!

Mary | Satoshi Club:

Satoshi Clubbers! Join peri finance social media

Gareth bowles:

Thanks all. Help us peri to the moon

Mary | Satoshi Club:

Or mars

Gareth bowles:

Wow that would be much better!

D| Satoshi Club:

Thank you for the great intro! And now we proceed to the community questions!

Gareth bowles:

Yeap, i’m ready!

Preselected questions about the PERI Finance DeFi project.

D| Satoshi Club:

Q1 from telegram user @cryptofollower

As I see you have two IDO coming on Kickpad and Duckstarter what are the details of those offerings? Also, in Duckstarter the IDO is with eth but in Kickpad it is with BNB. Are those the same tokens and do we need to hold any launchpad platform tokens for participating?

Gareth bowles:

Good question. They’re all same tokens only appear in different chains.

They all have a different forms to join the IDO /IEO event, I think that giving each of their explanation pages would be better.

Here’s detailed page as below,

Kickpad

https://kickpad.medium.com/kickpad-x-peri-whitelist-is-live-3b4c1e53ccf9

Duckdao

https://medium.com/duckdao/peri-finance-duckstarter-9f8cf86d4e9c

And gate.io, the last one

https://www.gate.io/en/startup/106

D| Satoshi Club:

Cool! Triple IDO?

Mary | Satoshi Club:

So, you will have triple IDO

which tokens will be available for sale on gate.io?

ETH or BSC?

Gareth bowles:

Amm, two for the IDO, and gateio is an IEO!

D| Satoshi Club:

Thanks for the clarification

Gareth bowles:

Gateio will be able to buy with USDT

Mary | Satoshi Club:

Gotcha! Thank you! And which percent of your total supply will be distributed through IDO/IEO?

Gareth bowles:

We will distribute 90k token supply, so…

That would be about 0.45% of the total!

D| Satoshi Club:

Good for start

Gareth bowles:

Thanks d.

Mary | Satoshi Club:

Thank you for your answers, Gareth! Ready to proceed?

Gareth bowles:

Sure, go ahead please!

D| Satoshi Club:

Q2 from telegram user @highpee

Peri finance is a cross-chain synthetic issuance and derivative exchange protocol that provide the opportunity to trade a wide range of crypto or traditional assets. You have said that the basic procedure in which this is done is classified into 4 steps which are: assess, market, mint and royalty. Can you provide some details on what each step entails? What is the importance of each function and how are they expected to be executed?

Gareth bowles:

Actually, these concepts are categorized to explain NFT fractional, which will be added once our designed technologies are up and running after the successful transition to Polkadot.

But as our Pynths enables to play synthetic assets, basic logics are applied to get the same benefits: easy access and widened trading markets, generating various assets by minting, and tailored rewards. All these are enabled because of the unlimited liquidity.

D| Satoshi Club:

When do you plan to migrate on Polkadot?

Mary | Satoshi Club:

Can you explain more about NFT fractional? How will this work?

D| Satoshi Club:

We have question about NFT in this part

Gareth bowles:

We’ll about to migrate in July because Chainlink implementation will be finished on Polkadot.

D| Satoshi Club:

Nice!

Gareth bowles:

Okay, then I’ll answer that later

D| Satoshi Club:

Yep! Thank you

Mary | Satoshi Club:

Ohh, my bad.

D| Satoshi Club:

And thanks for the answers! Ready for the next question?

Gareth bowles:

That’s okay, go-ahead

D| Satoshi Club:

Q3 from telegram user @antoni_azx

Peri will implement two types of rewards and incentives, the first one is the peri inflationary supply policy and the second one is the peri assets’ revenue, can you highlight the most important points of these revenues model and which one benefits the most to the holders?

Gareth bowles:

We were planning to manage the fund that we collected from the private sale,

But due to the shortage of our resources, we may have to change the timeline about that.

We’ll announce revenue models and benefits soon!

Mary | Satoshi Club:

Got it! Btw, can you share your tokenomics with us?

D| Satoshi Club:

Classical question

Gareth bowles:

I Will do, here are peri’s tokenomics details;

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.

The 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 intervals, 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.

And 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.

Gareth bowles:

Furthermore, the utility of peri tokens, distribution of rewards, or the collateral ratio can be changed later by Peridao!

Mary | Satoshi Club:

Wow, the community will decide?

Gareth bowles:

Yes, Peridao will decide by themselves!

D| Satoshi Club:

Awesome!

Mary | Satoshi Club:

Great system!

Gareth bowles:

Thanks all!

Mary | Satoshi Club:

Thank you for your detailed answers, Gareth! Ready to go to the next question?

Gareth bowles:

Yes I am

D| Satoshi Club:

About NFTs

Q4 from telegram user @lzamg

On your website, you describe the Pynths NFTs as a game-changer for the massive NFTs market. Since NFTs are rapidly evolving and we see new ones being created each day, what are you contributing with your own NFTs? Can you tell us how work the Pynths NFTs? What are some of the utilities or features that make them a game-changer?

Gareth bowles:

Absolutely. As many crypto enthusiasts are interested in NFT tokens, we are planning to stake the fraction each of NFT.

All the fractions can move to various exchange, also it is able to collect as “synthetic assets”.

We are not making NFT assets, but NFT derivate products.

Derivates, not products, my mistake

D| Satoshi Club:

Interesting approach…so your NFTs will look like a piece of art, as we used to, or they will have some different appearance?

Gareth bowles:

There will be a variety of NFT even e-sports and so on!

D| Satoshi Club:

Oh, that’s nice!

Gareth bowles:

We’re excited as well!

Mary | Satoshi Club:

NFTs are our passion! We will wait for yours

Mary | Satoshi Club:

Thank you for your answers! Ready to jump to the next question?

Gareth bowles:

Alright, go ahead!

D| Satoshi Club:

Q5 from telegram user @andrey_seleznov

Hi peri!

I noticed UNI mentioned among the platforms using derivatives liquidity enabled by pynth. Will peri support the new v3 UNI version? Does v3 require major adjustments on your part? Thank you!

Gareth bowles:

Sure we will. Although we launch our token in v2 Uniswap first I can assure you that we are going to move onto the V3 version.

Stay tuned the further news!

Mary | Satoshi Club:

When your token will be launched on Uniswap?

Gareth bowles:

10th of May. IDO and IEO will take place on the same day.

D| Satoshi Club:

By the way, after your IDOs and IEO will be successfully closed, are you planning some sort of liquidity mining on uni?

Mary | Satoshi Club:

It’s very soon! So, everyone who will miss your triple IDO/IEO will be able to buy there

Gareth bowles:

Sure, we are, It will be Uniswap and Pancakeswap, both are our liquidity providers!

Gareth bowles:

Haha thanks for all

Mary | Satoshi Club:

Thank you for your answers! Ready for the 6th and last question from this part?

Gareth bowles:

Okay, let’s go!

D| Satoshi Club:

Q6 from telegram user @neverencryp

Users are given the opportunity to stake peri and PUSD on your platform, nowadays we have a platform that doesn’t give users access to the stake unless they provide liquidity on their platform. Do we need to provide liquidity of the token before we can stake them on your platform? When do you plan to introduce more tokens to be staked on your platform, how juicy are your APY also?

Gareth bowles:

We stake peri on USDC, not PUSD.

And we provide almost unlimited liquidity through the debt pool because it’s rolled as a liquidity provider.

Gareth bowles:

Also, we expect APY to be skyrocketing because we create about 200k tokens each month.

D| Satoshi Club:

Ohh juicy APY…

Mary | Satoshi Club:

APY lover

How users, who are staking on your platform are protected? Is it safe?

Gareth bowles:

Good question,

We are well aware that there are some hackings and exploits happening on other DeFi projects.

Gareth bowles:

We have all our smart contracts audited by 3rd party,

Also, we are focusing on adding protection codes to the smart contracts for all known issues.

Mary | Satoshi Club:

Is that third-party audit report public?

Gareth bowles:

Absolutely! We get audited by Certik!

Mary | Satoshi Club:

Awesome, can you share that report with our community?

Gareth bowles:

Yes, we are.

If it is requested, we will be happy to share it with you

D| Satoshi Club:

@garethbowlesperi big thank you for the all info and answers in part 1! We will open chat for 2 minutes, after the chat will be closed — you can start select questions from Satoshi Club members!

Gareth bowles:

Alright!

Mary | Satoshi Club:

Let’s go

PART 2.Questions about the PERI Finance project from the live chat of the telegram community.

In this part, we open a chat for the crypto community for 120 seconds. Then the guests from the PERI Finance crypto project choose the top 10 questions. The 10 crypto enthusiasts have earned cryptocurrency in the sum of 100$.

Q — 1 from a telegram user @Derazy

We have known that Ethereum has a higher gas fee with the transaction especially to DeFi projects, which include the vulnerability of being hacked too. What does PERI Finance establish as the solution for this issue?

Gareth Bowles:

Pynths utilizes Polkadot’s Optimistic Virtual Machine (OVM) that reduces the cost and time of transactions exponentially by harnessing WASM and Substrate. Using optimistic rollups and Polkadot’s Relaychains will enable PERI Finance users access to a wide breadth of both traditional finance and crypto assets in the form of leveraged and unleveraged synthetics products. Added benefits of using Polkadot’s parachain are quick transaction speeds at low cost without the risk of flash loans and front running.

Q — 2 from a telegram user @lusiana_lambreth

Peri has a nice team that is ready to get the job done to the maximum, will you take into account the opinions, contributions, ideas of your community members at any time?

Gareth Bowles:

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.

Q — 3 from a telegram user @vp98765

TikTok and Youtube Videos are Making good role in Marketing, Impulse approached any influencers here? what marketing is the team focusing rn?

Gareth Bowles:

At the moment we are focusing on content marketing through medium and few SNS platforms, but we are definitely to open using TikTok and youtube as it serves different demographics and purposes. Please stay tuned!

Q — 4 from a telegram user @kopal005fatche

How do you keep your platform safe for Investors, and is your platform protected from hackers? And how do you manage if there’s an attack on your platform, including the personal data of your platform’s users? Is your platform ready for this?

Gareth Bowles:

We are well aware of recent hacking and exploit of the other defi platforms. We have had applied codes for all of the known issues. We are getting all our smart contracts audited by 3rd party auditor like Certik. as per the personal data we don’t save any personal data because we are in a decentralized ledger system, blockchain. All users need are wallets and assets in it. That’s what it takes for using our platform including framing and trading.

This is why you see projects that have been audited in the past become hacked. It’s an ongoing practice for good practice.

Q — 5 from a telegram user @smelekin

Which of your token is good to buy the one on Kickpad or the one on Duckstarter?

Gareth Bowles:

Both of their platform are really good. I recommend users to choice which is more convinent, not which is better.
I’ll send the link again about IDO Details;

https://kickpad.medium.com/kickpad-x-peri-whitelist-is-live-3b4c1e53ccf9

https://medium.com/duckdao/peri-finance-duckstarter-9f8cf86d4e9c

Q — 6 from a telegram user @Rosane1a8

Peri Finance is having a white list IDO competition on Kickpad, what are the requirements to participate in this competition, what is it about and how long is it going to last?

Gareth Bowles:

At first, our IDO will be starting on 10th, May
You should prepare by following things:
– Make sure to do a whitelist ahead
– Needs to use a different wallet than the one you used for staking.
Please see the Kickpad’s recent announcement, thanks!

Q — 7 from a telegram user @Korryl

As I know partnership is really important because it can make your project growing fast. PERI Finance already announced doing an agreement with Oneblockcapital and Moonwhale project. could you introduce to us what projects are them, and what are the benefit of the partnership for both of you? do you have a plan to add another partner for now?

Gareth Bowles:

We have partnered with lots of VCs, Institutional Investors, and some community-driven funds who are the most valuable partners for PERI Finance up until now. We are now trying to announce one by one for giving people the idea we will be able to be successful with great partners. We are also planning to keep extending partnerships to Polkadot Parachain projects and top-tier projects and traditional financial institutions. We believe we can grow only with great partners, we can not make it by ourselves. As PERI Finance is a targeted cross-chain ecosystem, we will grow together.

Q — 8 from a telegram user @mucana

Currently, many NFT platform projects such as PERI Finance give good news for art and investors. How will PERI Finance be unique and competitive in this environment?

Gareth Bowles:

We understand that Traditional artists and DeFi have a lot of gap between them. and we want to be the project that will work as a bridge between both artists and DeFi community. Will try to reach not only art enthusiasts but focus marketing toward investors as a financial product. We hope it will bring another revenue for artists.

Q — 9 from a telegram user @chzileuzayaaaa

What is PYNTHS and what are its advantages for investors? What are the advantages and rewards of staking PERI in PERI Pool? Are there problems in the pool caused by lack of liquidity or resources?

Gareth Bowles:

We labeled Pynths as our synthetic assets which will be minted by users when staking PERI. Because it’s replaced ‘liquidity provider’ by our users in the name of PeriPool, ideally unlimited liquidity gives benefits back to our users with high rewards.

Q -10 from a telegram user @Alika061

Can #PERI provide a road map for your future then is there staking, IDO on your road map?
A: Glad to. Here are the milestones?

Gareth Bowles:

Glad to. Here are the milestones:

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

Part 3 — Quiz about project

In the final part, we tested the knowledge in terms of the PERI Finance project. They’ve prepared 4 questions for this part, so everyone could be a part and answer. Participants had 10 minutes to answer. 300$ was distributed between the winners.

Our contacts for more details:

English Telegram group | Russian Telegram group | Spanish Telegram group | Telegram Channel | Twitter | Website

Our Crypto Partner by this AMA: PERI Finance

Telegram group | Medium | Tweeter | Website | Discord | LinkedIn

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