03 Sep 202001:08
PERI Finance AMA Recap
Myko (CryptoDiffer)Hello, everyone!😁
We are glad to meet here:
Gareth Bowles, Co-founder of PERI Finance
Gareth BowlesPleasure to meet you all!
Myko (CryptoDiffer)Welcome Gareth, thank you for taking your time today!
Gareth BowlesThank you for having me too:)
Myko (CryptoDiffer)Our team has prepared 3 questions for you to start with
so let's start with the introduction)
Q1: Can you introduce yourself to our community?
Gareth BowlesSure, I’m Gareth Bowles. I majored in business study at Staffordshire University. I started my career at money Moneycorp TTT Ltd, moved to CitiBank, and LMAX exchange as a Currency dealer.
Also, I worked as Advisor & Shareholder of King William Street Capital Management Ltd and Director of Pathfinder FX Ltd. Most recently as a consultant, I’ve been involved in various projects, venture capital investments in the blockchain.
I'll text "done"when I finished answer
Great! Thank you for the introduction
Now 'let's take a look at the project
Q2: Can you introduce PERI to us?
Gareth BowlesPERI Finance is a decentralized, cross-chain synthetic asset issuance and derivatives exchange on the Polkadot network. PERI Finance allows accessing a wide range of both traditional financial and crypto assets in the form of leverage and non-leverage synthetic products. We empower users with the lower GAS fee, speedy transaction, and amplified security from front-running or flash loan.
Myko (CryptoDiffer)Superb, now let's look on how the project's process going
Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?
Gareth BowlesWe have launched staking dApp on the Ethereum Kovan testnet. Users can participate in our Bug Bounty Program by the link below:
Also, we are planning to launch on the Ethereum Mainnet at the beginning of July.
It’s coming 🔥
And here’s the following milestones that we’ve planned:
2021 Q3 — Staking dApp Launch on Ethereum Mainnet
Staking dApp and DEX dApp launch on Polkadot Parachain Testnet
Launch Pynths Perpetual contract
2021 Q4 — DEX dApp launch on Polkadot Parachain Mainnet
Add NFT fractionized synthetic asset
Add Perpetual Futures swap
The team is going to get web3 foundation grants soon and will keep constant and close eyes on technology change on Ethereum such as ZK-Rollups as well as Parachains with WSAM and EVM on Polkadot so that we can apply the solutions to the platform as soon as there comes any technology that works better on Polkadot.
DeFi is currently at the core of the blockchain industry, but we are thinking of Defi as a new industry between the traditional finance and blockchain industries.
Also, DeFi offers potential growth opportunities for blockchain projects. The DeFi that affects the crypto space will be very huge!
Gareth BowlesWow, massive questions!
Please give me some time to collect the answers:)
Myko (CryptoDiffer)1. Instead of directly trading NFT products, PERI Finance says it plans to launch a service that trades NFT fractional assets, could you tell us what NFT fractional assets are and how they are different from the regular NFT products we all know?
2. What about your team background? Is the developer anonymous and how many members are on your team?
Gareth Bowles1. PERI Finance’s NFT plan can be viewed as a choice that reflects the needs of the current market. Synthetic assets in NFT artwork will be applied slightly differently than the original synthetic assets. By synthesizing a single NFT asset, it will be partly owned by several people. More details will be announced through the whitepaper update.
2. You can access details about the members’ list of PERI Finance on the LinkedIn page anytime. PERI Finance currently working with several top-talented developers with outstanding blockchain-related background.
Myko (CryptoDiffer)3. What are the present and future goals of PERI Finance ?
4. What is PYNTHS and what are the benefits for early investors, What are the advantages of staking PERI in the PERI Pool? how do you deal with problems in the pool caused by lack of liquidity?
Gareth Bowles3. We are going to launch our Staking dApp as soon as the auditing report is released. And as you see on the One-pager that I uploaded before, we will launch Synthetic asset DEX exchange, adding NFT fractional assets and perpetual futures swap up to 20x on next quarter.
4. Users holding PERI token can receive rewards through staking in a dApp that will be launched soon, and a pUSD (a synthetic asset with the same value as USD) which is a synthetic asset received at a certain rate from users who have staked can trade a variety of synthetic assets and futures.
Also, PERI Liquidity Pool is a pool created in the process of PERI holders staking PERI and minting Pynth called pUSD. The pool acts as a liquidity provider, which is the counterparty when trading pUSD to pBTC or pEUR, for example. Therefore, it can be said that liquidity is infinite. In other words, there is no worry about lack of liquidity or slippage existing in traditional financial markets.
Cryptodiffer CommunityCan you please explain any security precautions which might protect PERI Finance from any hacks of wallet in the future?
Gareth BowlesWe are well aware of recent hacking and exploit of the other DeFi platforms. We have applied codes for all of known issues. We are getting all our smart contracts audited by a 3rd party auditor like Certik. We don’t save any personal data, because we are in decentralized ledger system ‘blockchain’. All users just need their wallets and assets in it.
Cryptodiffer CommunityCan I Buy PERI Without KYC?
Gareth BowlesYes you can. The Uniswap and Pancakeswap also have trading pairs respectively. You can see this guide for buying PERI by DEX:
In addition, PERI Finance is listed on Gate.io and MEXC(KYC required)
Cryptodiffer CommunityI am a newbie trader and just want to learn before I start investing, do you offer any educational courses that I can learn from?
Gareth BowlesWe have published the guide for staking dApp which will be launched soon. You can experience through this guide in our pre-opened dApp for bug bounty program.
Here's the site link about detailed guide:
And you can discover the staking dApp(access in Kovan testnet required)
This was the last answer, thank you all!