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Peri Finance Launches Dapp Staking on Ethereum Mainnet

Place/Date: - August 18th, 2021 at 8:21 pm UTC · 4 min read
Source: PERI Finance

PERI Finance, a cross-chain defi solution provider is all set to launch Dapp staking services on Ethereum mainnet. PERI staking dApp will allow the ERC-20 based PERI holders to stake their PERI. Through this integration, the ERC-20 Based PERI holders do not have to transfer their PERI to Polygon or BSC network using their bridges, making it a much more secure option, given the number of exploits faced by BSC projects in recent times.

PERI Finance offers cross-chain functionalities to allow traders to juggle between multiple platforms with ease. The protocol has managed to crack the liquidity code and offers unlimited liquidity for traders on Polkadot. While Ethereum network gas fee has remained mediocre high despite the recent hard fork Peri Finance empowers you with lower GAS fee, speedy transaction, and ample security from front-running or flash loan.

The PERI token is listed on Coinmarketcap and has achieved an ATH of $50, rising at a time when most of the other crypto tokens saw heavy bleeding. The launch of Dapp staking services would make it more lucrative for investors allowing them to earn passive income on their Peri holdings.

PERI Staking and Liquidity Rewards

PERI Finance’s main Unique Selling Proposition(USP) comes from its liquidity solution that makes it a lucrative option for traders looking for liquidity rewards. PERI is the utility token of the platform while its synthetic products are called Pynths and the native tokens can be used to create pUSD and also used for voting in the ecosystem. PERI will also play a key role in staking where the holders of the native token would receive three different types of rewards for staking.

The first reward for PERI holders come from its formidable tokenomics and inflationary supply policy. The project will first launch 11,000,000 PERI into the market and the rest 9,000,000 will be added on weekly intervals. The issuance would go on for 40 month. The inflation will gradually start decreasing after 52 weeks of staking rewards. After the complete allocation of the remaining tokens the inflation would be fixed at 5%. 80%of the inflation reward would go to PERI holders while the remaining would be distributed amongst USDC stakers.

The Liquidity pool of the PERI network is the backbone of the ecosystem that offers unlimited liquidity for traders at all times. The liquidity pool is created by PERI holders who stake their tokens to mint Pynths or pUSD. As long as traders continue to mint pynths and stake PERI the pool would continue to provide the liquidity. The liquidity rewards program for $PERI token for UniSwap LP, PancakeSwap LP, and QuickSwap LP(Liquidity Pool) providers with ETH/PERI, BNB/PERI, and Matic/PERI trade pairs. PERI Finance liquidity providers will earn a percentage share of the pool that users’ provided liquidity. The liquidity rewards are given to LP token holders who provided peri at UNIswap, pancakeswap, and quickswap.

How to Add PERI Token in the Metamask

For using staking dApp, PERI users should set their wallet on Ethereum mainnet. Here’s guide for adding PERI token on the Metamask wallet:

  • Step 1. Click ‘Add Token’ on the Metamask main window. (Make sure your network is set as ‘Ethereum Mainnet’)
  • Step 2. Select ‘Custom Token’, and add following PERI ETH Contract Address:0x5d30ad9c6374bf925d0a75454fa327aacf778492 And click ‘Next’

  • Step 3. After you click ‘Add Tokens’, you can see the PERI token is added to your wallet.

The Peri Finance platform plans to launch a no-orderbook decentralized exchange in the coming quarter which would allow traders to convert their pynth to any other token of their choice with infinite liquidity and no slippage. Pynth also has a NFT marketplace to accommodate for the growing craze and hype around the ecosystem. The NFT would have its own governance system with the Peri token being the backbone.

The first claim reward for Ethereum Mainnet users will open on 21st August 2021, 00:00 UTC.

For more news and latest updates please visit PERI Finance Discord and Reddit accounts, follow the team in WeChat (Chinese). Feel free to join PERI Finance community in Telegram (Global, Korean, Announcements) and Twitter.

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