Leveraging on the blockchain technology, Peet Defi enables users to collateralize their off-chain assets using its decentralized protocol. The Chainlink technology makes it possible for Peet to represent USD- valued assets such as stocks, share of ownership and home equity on the blockchain. As a result, users can use these assets to earn high returns.
Specifically, the Peet protocol allows users to convert their assets into PTE Tokens, which they can, lend, lock, farm or trade with. In offering these services, Peet focuses on capital efficiency- high returns for the invested assets.
In its Litepaper, Peet states several objectives, mentioned below:
- To create a truly trustless and decentralized ecosystem which enable users to attain high return on investment,
- To connect to multiple blockchain networks thereby increasing capital efficiency,
- To bridge the gap between decentralized and centralized financial products
- To tokenize real world assets such as home equity, automobiles, precious metals and stock positions and use the digital representation for yield farming.
How can Peet Defi meet these objectives?
Peet has a clearly laid out strategy to meet the said objectives. Its arsenal includes notable functionalities like collateralizing lending, interaction with the real world, and interoperability.
Interaction with the real world: Apart from tokenizing physical assets, Peet will soon access real data inputs and broadcast it to its users. When community members use the data to make decisions a frictionless financial system will exist.
Also, it uses the Chainlink gateway to access tamper-proof inputs and outputs from multiple chain smart contracts. The end goal of Peet, is to become the leading blockchain innovator, creating new farming and liquidity provision opportunities.
Interoperability: Peet’s native token, PTE can exist at any blockchain. Thus, at any point, the PTE tokens follow the path of least resistance, meaning that they use the blockchain that has the most suitable parameters in terms of cost and reasonable transaction times. This attribute makes the PTE adaptable and scalable, offering convenience and cost-effectiveness to its holders. In most cases, the token moves instantly and at the lowest cost possible.
Yield farming: Apart from ensuring minimal transaction costs, Peet provides high returns to invested funds or assets. This is because its users access high yielding investment which different blockchain have.
Liquidity provision: Peet platform users can stake their assets on Uniswap and earn 6.5% monthly return. They also share 0.3% of all PTE trade revenues. Like the norm with many decentralized exchanges, investors get more returns for longer periods than shorter ones. Particularly, they can earn up to 9% if they lock their assets at lock.finance for a long period.
People use the PTE, an ERC20 for staking, farming and governance of the platform. An impressive nature of the token is its ability to burn when it migrates between chains. As it burns another blockchain mints it. As a result, the supply of PTE will remain 100 000.
The token distribution is:
- Tokens locked for one year: 5%
- Bounties: 4%
- Staking rewards: 9%
- Liquidity pool: 51%
- OTC sales: 20%
- Team Share: 1%
Although the team handles all current activities, it will soon hand over governance issues to the community after creating the Peet Proposal, which is a decentralized autonomous body that deals with all governance issues. As a result, all token holders can make proposals and vote on aspects such as the growth of Peet, expected changes and community rewards.
With the top-notch products which Peet offers the community, many users want to engage with one another. They can easily do that through social platforms. All interested people can join any of its platforms.