PERI finance research
1.WHAT IS PERI FINANCE?
1.1 Project’s functions:
PERI Finance is a decentralized cross-chain synthetic issuance and derivative exchange protocol that provides unlimited liquidity With PERI Finance, Anyone can access traditional financial products and crypto assets without hustles and bustles.
Additionally, PERI Finance provides solutions to current issues on Ethereum including absurdly high GAS fee, slow transaction speed and the possibility of various attacks such as front running and flash loan by harnessing Layer 2 with OVM (Optimistic Virtual Machine).
1.2 Problem Solutions:
By staking PERI and mint (in) to pUSD, a user can either convert one asset to another or open long or short positions of various assets without any underlying leverage. any restrictions. Pynth, short for Peri Synthetic asset, is an asset that combines an asset priced at the price of the underlying.
Pynths are currently provided by PERI Exchange.
PERI exchange has no need for a liquidity provider. For the transaction of converting Pynths, the counterparty is the debt pool collateralized by PERI and USDC staked by the holders, so the liquidity available in the pool is infinite and no slippage exists.
As for leveraged Pynths, perpetual contracts trading, virtual AMM backed by the staked pool is the mechanism to provide the liquidity. Thanks to vAMM’s unique property, there is no liquidity provider involved in the trading so the stakers have no risk to lose their PERI nor USDC.
1.3 Similar projects:
1.3.1 Same Chain: Shadows
1.3.2 Other Chain: Synthetic, UMA
2. THE PROJECT TEAM:
Project founders have 17 years of experience in the financial industry. Currently being Advisor & Shareholder of King William Street Capital Management Ltd
3. WHEN IS THE PROJECT ESTABLISHED:
3.1 Project established in Q3-2021
3.2 Twitter established 3-2021
3.3 Twitter has 3k followers
- INVESTORS OF PERI FINANCE:
LD capital: https://twitter.com/PERIfinance/status/1372793725663940611
5. PARTNERS OF PROJECT:
Update soon
6. ROAD MAP:
Mar 2021: Started launching dApp on Ethereum Kovan testnet.
Apr 2021: Launched dApps on Ethereum Mainnet.
May 2021: DAO debuted.
Jun 2021: Started launching dApp and DEX dApp on Polkadot parachain testnet.
July 2021: DEX dApp launches on Polkadot parachain Mainnet.
Sept 2021: Add NFT synthetic asset
Dec 2021: launch of the Perpetual Futures swap
7. TOKENOMICS:
PERI token is used to create a liquidity group during STAKING, generating the basic Pynth, pUSD. It is also a voting tool in PERI DAO, which will play an important role in the development of PERI Finance. PERI holders will receive three different rewards by wagering PERI or USDC and casting Pynths. Out of those 3 rewards 2 are awarded in PERI tokens.
The first reward comes from the PERI inflation supply policy. The initial PERI supply will be 11,000,000 and another 9,000,000 will be issued over 40 months as a compensation for staking over a weekly period, resulting in a total of 20,000,000 in circulation.
The second bonus is the revenue distribution of PERI.Assets. Managed funds come from 50% of the fund raised from the sale of PERI tokens, so holders can be rewarded with additional profits just by staking PERI.
Peri pool: PERI Liquidity Pool is a pool created during the process of PERI holders setting PERI and casting Pynth called pUSD. The group acts as a provider of liquidity.
Peri Exchange: PERI.Exchange is a DEX derivative of Pynths without a command book. Users can convert Pynth to Pynth without worrying about liquidity or slippage.
Users can also benefit by executing short or long positions of Pynths with 20 times leverage. Pynth price is provided by Oracle while Pynth perpetual contract price is determined by virtual AMM
Peri.DAO: PERI token is also used for governance. The company created a PIP (PERI Improvement Proposed) system to gather community input.
8. TOKEN ALLOCATION:
Update soon …
9.COMMUNITY:
Twitter: https://twitter.com/PERIfinance
Discord: https://discord.com/invite/FF8U8A458j
Telegram: https://t.me/peri_global
Linkedin: https://www.linkedin.com/company/peri-finance/
Reference: http://test.peri.finance/file/Peri%20Whitepaper%20(EN)%20v0.9.pdf