KickPad is proud to announce that PERI (PYNTHS Protocol) will be joining us for an upcoming IDO. The IDO will be on May 10th at 2pm UTC. The IDO amount will be 90k for the Gold Round. For the Silver (whitelist) round the IDO amount will be 10k.
The PERI team comes backed by a strong group of investors, partners, and KOLs — we are happy to work together and get them on board for a KickPad IDO.
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 hassles.
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 Layer2 with OVM (Optimistic Virtual Machine).
PERI is a utility token used to create a liquidity pool in the process of staking, generating the basic Pynths (PERI Synthetic assets). 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.
They will be distributed to the Stakers based on the contribution to the network.
PERI exchange has no need of 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.