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Hong Kong, Hong Kong, August 16, 2024, Chainwire
The Token Generation Event (TGE) will soon provide a revenue distribution mechanism.
Pichi Finance, a trustless point trading protocol that provides price discovery for tokens Pre and Post-TGE, announced the launch of its utility token, PCH, on Gate.io and MEXC, which will be available for trading starting from 16:30 UTC on August 19, 2024. This token generation event and CEX listing follow the conclusion of the public sale of tokens on Dao Maker.
TGE is a key component of Pichi Finance’s comprehensive roadmap that will allow users to securely earn points and access a liquid marketplace where they can trade their earned points.
The Pichi (PCH) token allows holders to participate in a potential revenue share with the project. The protocol’s primary revenue source is Pichi’s transaction fees and DeFi integrations, putting the protocol at the forefront of building a points infrastructure for both users and projects.
Milestone TGE, Following Successful Completion of $2.5 Million Seed Fund Raising
On August 1, 2024, Fitch Finance announced the completion of a US$2.5 million seed funding round led by UOB Venture Management, Signum Capital, and Mantle Network.
Investors shared Pichi Finance’s vision to enable trustless point transactions via the ERC-6551 standard, realize secure cross-protocol point transactions, and provide another level of liquidity to the ecosystem.
This investment will allow Pichi Finance to target a new points program that will enable trading from day 1, create vaults where users can earn both profits and points, and expand to other EVM chains.
As part of Pichi Finance’s extensive roadmap, the protocol will also be launched on Arbitrum, a leading Layer 2 technology that allows users to explore and build on Ethereum, and Mantle Network, a Layer 2 rollup that combines the security of Ethereum with low gas fees and high throughput.
Provide price discovery for tokens before and after TGE
Pichi Finance is the first trustless points exchange protocol that allows users to trade points on their preferred protocols such as EigenLayer, Ether.Fi, and HyperLiquid before the TGE. Points are an incentive for blockchain protocols that track users’ loyalty to the project by engaging in activities such as staking, farming, and voting, and can be converted into a share of the project’s airdrop at the TGE. Previously, points were stored off-chain and tied to wallet addresses, restricting them from trading on the open market.
Peach brings significant design improvements to the point trading process by leveraging ERC-6551 accounts, which are wallets that NFTs own, and selling an NFT requires transferring ownership of the associated wallet and the accumulated points.
Users can create a Pichi Wallet and deposit tokens that can earn points into the relevant ERC-6551 Wallet. Once points have accumulated in the wallet, users can withdraw the earned tokens and sell the Pichi Wallet, effectively selling the accumulated points. By leveraging ERC-6551 accounts, Pichi Finance aims to unlock the potential for trading by providing users with a trustless, transparent, and secure way to trade points before and after the TGE.
“The PCH token is the backbone of our technology stack. With the launch of the Token Generation Event, Pichi Finance is redefining how points are considered an essential component of incentives. Our token will deepen users’ engagement with Pichi through revenue sharing, and allow more projects with more points to integrate into Pichi, creating a flywheel effect that further drives ecosystem growth.” – Wesley Tang, Founder of Peach Finance.
Pichi Finance is dedicated to unlocking the value of points in decentralized finance by creating a trustless marketplace for trading these rewards. The Pichi Finance team is invited to join Mario Nawfals’ Twitter/X Spaces discussion on Friday, August 16, 2024 at 4:00 PM UTC, where users can learn about Pichi Finance’s profit sharing mechanism and points trading protocol.
About Peach Finance
Pichi Finance, revolutionizing the way users earn and trade rewards in the DeFi space, introduces an innovative ERC-6551 account solution. The trustless points trading protocol allows users to discover the price of tokens before and after the Token Generation Event (TGE), giving users the ability to seamlessly trade points on their preferred protocol.
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Contact
Amy Hillman
Peninsula PR of Peach Finance
(email protected)
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