PERI Finance is a decentralized cross-chain synthetic issuance and derivative exchange protocol that provides unlimited liquidity for leveraged and non-leveraged synthetic assets on the Polkadot network. It addresses high transaction costs and market manipulation in DeFi by offering low GAS fees, fast transactions, and protection against front-running and flash loan attacks.
Funding
$4.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Decentralized finance (DeFi) platforms often suffer from high transaction costs and susceptibility to market manipulation, such as front-running and flash loan attacks, hindering accessibility and fairness. Existing solutions lack the cross-chain capabilities needed to provide users with a wide range of synthetic assets.
Solution
PERI Finance is a cross-chain synthetic asset issuance and derivatives exchange protocol built on Polkadot, designed to provide unlimited liquidity for both leveraged and non-leveraged synthetic assets (Pynths). The protocol aims to mitigate the issues of high gas fees and market manipulation by offering low transaction costs, fast transaction speeds, and security measures against front-running and flash loan exploits. Users can access a diverse array of traditional financial and cryptocurrency assets through Pynths, which track the price of underlying assets like Forex, cryptocurrencies, and commodities. The PERI Exchange facilitates the conversion of Pynths with infinite liquidity and no slippage, enabling users to take long or short positions with up to 20x leverage.
Target Audience
PERI Finance targets DeFi users and traders seeking access to a wide range of synthetic assets with high leverage, low transaction costs, and protection against market manipulation, as well as artists and investors looking to monetize assets through Pynths.
Features
- Cross-chain compatibility, enabling access to a wide range of assets across different blockchain networks.
- Pynth staking mechanism, where users stake PERI tokens to mint pUSD and provide liquidity to the platform.
- Integration with NEND Protocol to provide leverage lending options within the PERI ecosystem.
- Decentralized exchange (DEX) with a user-friendly interface (UX/UI) for converting Pynths.
- Oracle price feeds for accurate Pynth pricing, combined with a virtual AMM for perpetual contract pricing.
- Governance through PERI Improvement Proposals (PIP) allowing community input on platform development.
- Support for Real World Asset (RWA)-linked synthetic assets, expanding the platform's offerings.