PERI is the primary form of collateral backing the synthetic assets available in the PERI Finance protocol.
The PERI token is an ERC-20 compatible token with the addition of a snapshot feature, allowing gas-less transactions and one transaction approval/transfer.
PERI Finance’s token, $PERI is a utility token used to create a liquidity pool in the process of staking, generating the basic Pynths (PERI Synthetic assets) called pUSD. The staking dApp of PERI Finance is running on Ethereum, Polygon, and BSC mainnets, so users can stake their PERI/stablecoin/LP tokens and claim rewards.
This pUSD can exchange at other Pynths on our upcoming dApp, PERI Exchange. Users can get an arbitrage profit through trading various Pynths on the dApp.
By the profit of pUSD through the Pynth trade, users can swap the pUSD token to PERI and re-stake it. This virtuous circle allows users to earn an additional profit and makes the growth of PERI Finance platform ecosystem.
Pynths are synthetic assets, minted against the value of crypto assets staked as collateral. The values of Pynths are provided by external price feeds fed on-chain.
PERI Users provide Liquidity to Pools like Pancakeswap, Uniswap or Quickswap hence received LP token as a reward. LP rewards are added to the ‘Transferable’ amount, this means that users can transfer and trade rewarded PERI tokens immediately.
PERI Finance has allocated more than 40% of the overall supply for the staking rewards. As this graph details, PERI Finance recommends users participating in the staking program to get plenty amounts of token rewards.
PERI tokens are now vesting to various users through the vesting schedule below. Since the token distribution has started in May 2021, this vesting is scheduled for 52 weeks issuing 76,924.72 PERI every week. After 52 weeks of issuing, the vesting amount will decrease 1.25% per week, until the total supply reaches 20,000,000 PERI.
PERI Finance will keep allocating tokens to staking users/investors/advisors through the elaborately composited smart contract.