Peri Finance Overview

Date : 2021-03-29
Author: @cuongvn08

PERI

Fundamentals:

1. PERI Finance is a decentralized cross-chain synthetic issuance and derivative exchange protocol that provides unlimited liquidity on Polkadot network.

2. PERI Finance provides solutions to current issues suffering Defi-projects on Ethereum including high GAS fee, slow transaction speed and the possibility of various attacks such as front running and flash loan by harnessing Layer2 with OVM(Optimistic Virtual Machine)

3. PERI Finance supports four asset classes, including Forex, Commodities, Indices and CryptoCurrency. The value of all synthetic assets will use Oracle.

4. PERI Liquidity Pool is a pool created in the process of PERI holders staking PERI and minting pUSD (PERI synthetic asset of USD). This liquidity pool acts as a liquidity provider, which is the counterparty when trading pUSD to other PERI synthetic assets.

5. PERI.Exchange is a Pynths derivative DEX without an order book. The staked collateral plays the role of liquidity provider. Users are able to convert one Pynth to another without worrying about how deep the liquidity nor slippage.

6. In order to create more stable PERI ecosystem by encouraging trading of PERI holders, revenue and exchange fees generated from PERI.Assets are paid as a reward. This is available to PERI holders who participated in staking through increased trading volume.

7. The key features of PERI finance:
* PERI.POOL: staking PERI and minting Pynth called pUSD
* PERI.Exchange: used for trading
* PERI.DAO: used for governance

Benefits of PERI token:

  1. PERI is a utility token used to create a liquidity pool by staking
  2.  PERI holders will receive multiple rewards by staking
  3. Governance voting

Competitors:

1. Universal Market Access (UMA): allow users deploy and trade synthetic assets on Ethereum, which including Forex, Commodities, Indices and other traditional assets. The current cap of UMA is 1.3B $ and being listed on Coinbase Pro, Binance, Balancer.

2. Synthetix Network Token (SNX): allow users to trade synthetic assets on Etherum, which including Forex, Commodity, Crypto, Index and Inverse. The current cap of SNX is 2.5B $ and being listed on Coinbase Pro, Binance, Kraken, Houbi, FTX, MXC, …

3. DyDx

Tokenomics:

N/A

TGE/Listing:

April / May

Team:

1. Gareth David Bowles – one of co-founders of PERI finance – worked in Seabury a US venture capital firm that invested in a US bank and currently working as an advisor and shareholder of King William Street Capital Management Ltd.

2. Richard Kim – CEO of PERI finance – worked as CTO/CEO in several companies in Korea such as FBP Limited, KJ Gloivce.

Partners/backers:

PERI Finance has completed a seed funding round, which led by LD Capital that invested and supported for the recently promising projects on Polkadot such as Cere, Reef, Stafi, Tidal, Paralink, Parastate, Polkadex, …

Reference:

BTA Ventures