Currently, most DeFi protocols only offer a single service. For example, lending agreements usually only provide deposit and borrowing services for crypto assets. Borrowers typically need to take the borrowed assets to other DeFi products to find ways to generate alpha. Currently, it is impossible to complete a wide range of operations, such as lending, farming, trading, and financial management, in one DeFi product. This can drive DeFi users to move assets back and forth across multiple DeFi protocols. In addition to the high GAS fees associated with the constant transfer of assets, users have heavy time costs associated with comparing APYs across different DeFi products and tedious operational steps that create a barrier for your average investor.
The market is in dire need of an integrated DeFi platform that can both maximize user revenue and provide users with a one-stop shop for many services, including lending, liquidity mining, derivatives, etc. PinkPea Finance has emerged to fill this gap in the market.
What is PinkPea Finance?
Using Aurora as its launch chain PinkPea Finance will subsequently develop on BSC, AVAX, ETH, and many more to become multi-chain. It provides users with multiple DeFi services in one interface, so they do not need to switch back and forth between numerous protocols and chains. Ultimately allowing anyone to lower costs, save time and generate additional wealth.
PinkPea Finance offers liquidity mining, flexible-rate lending, leveraged yield farming, automatic compounding of various LP assets, and single-sided staking. PinkPea also has innovative functions for holders of their native vePea governance token that allow users to boost their APY even further.
PinkPea Finance also has Partner Pools that offer higher returns than the rewards from regular pools and built an extra NFT-based reward solution. It allows our users and partners to align their incentives with PinkPea Finance in a meaningful way that provides mutual benefit for everyone.
As well as maximizing user returns, PinkPea Finance is also committed to reducing user risk, which is why it created a set-and-forget Infinite Looper. An advanced PinkPea Finance innovation where intelligent signals trigger bots to either leverage or deleverage your position, automatically maintaining a healthy debt ratio for you during market volatility while passively growing your assets.
Being built on Aurora is also a big advantage for PinkPea Finance. The Aurora chain can process thousands of transactions per second, 50 times higher than Ethereum 1.0. Aurora’s processing fee is 1,000 times lower than Ethereum’s. The finality of transactions is 2 seconds, which also means Aurora significantly reduces the risk of preemptive trading (front-running) attacks. NEAR also uses a POS consensus mechanism, meaning Aurora’s on-chain transactions are greener. PinkPea Finance building on Aurora delivers lightning-fast, low-cost transactions. This combination creates an unparalleled trading experience not on offer anywhere else in the DeFi cryptoverse.
PinkPea Finance’s Products and Features
Currently, PinkPea Finance offers five services, Vaults, Partner Pools, Lending, Yield Farming, and an Infinite Looper.
I. Vaults Pools
Single &LP Pools
PinkPea Vaults contain single currency pools and liquidity pools. Users can stake single assets or LP assets, after which they automatically earn compounded returns. Vaults use an algorithm-based automatic income pool that allows users to automatically find optimal APY and use it as a basis for continuous reinvestment and compounding. Users can make deposits and withdrawals with a simple click and incur little to no Gas fees.
PinkPea Finance also gives 40% of the platform’s native PEA token supply as an additional incentive to our users.
Partner Pools
Partner Pools are an upgraded version of Vault’s single & LP pools that offer more rewards to users. Partner Pools effectively increase TVL for partners of the PinkPea Ecosystem and simultaneously raise user awareness of their protocols. Partner Pools also incorporate an additional bonus program using the PinkPea NFT (PPT).
The yield of Partner Pools is higher than standard Vaults, and users can stake in Partner Pools to enjoy more revenue. PinkPea ecosystem partners who want to build Partner Pools must propose their pool to the PinkPea DAO vote. If passed, the Partner Pool will be developed and launched.
II. Lending
PinkPea offers users a DeFi Lending service, where the user can become both a lender and a borrower.
Lenders can deposit their idle funds into PinkPea’s lending pool for borrowers. They can receive two types of income, the borrower’s interest, and mining returns.
Borrowers must stake assets in the platform before borrowing. They can lend different volumes of funds, depending on the staking rate. Once they borrow, they must pay interest and eventually return the funds to redeem the assets they staked. The interest rate of the Lending pool fluctuates according to market demands. PinkPea does not match the borrowed amount one-on-one with the collateral, which means borrowers do not have to borrow the exact amount and value of the collateral.
III. Leverage Farming
PinkPea also offers users a derivatives service that allows experienced traders to leverage and borrow more money for greater returns.
Using leverage means users take on more risk that may lead to asset liquidation in an unfavorable market. Users first need to borrow backed assets from the lending pool in an “under collateralized” mode and choose their desired leverage ratio of up to 10x. This lending model does not support the withdrawal of funds by the user. PinkPea Finance adds the funds into a pool, and farmers receive yield and PinkPea Finance Treasury rewards while simultaneously paying interest on the borrowed amount.
IV. The Infinite Looper
The PinkPea Infinite Looper lets users enjoy the benefits of leveraged strategies but simultaneously reduces risk. The concept combines looping (staking and borrowing in a loop) with two automatically moving and triggered price barriers that follow the market. When market conditions are favorable, the Infinite Looper will borrow more, then repay and reduce the leverage to prevent liquidation when the market retraces. The Infinite Looper is an innovative set-and-forget strategy that allows exposure to leverage and automatically monitors risk. The Infinite Looper is advanced and has to execute orders quickly to work efficiently. The PinkPea Finance bots manage these orders, taking advantage of price increases and simultaneously preventing liquidation.
The PinkPea PEA Token Economy
PEA is the utility token of PinkPea Finance. PinkPea is a DAO and uses vePEA (obtained by locking up PEA tokens) for governance.
The PEA is mainly used as an incentive, for example, the earnings of various types of revenue pools are reflected in the form of PEA tokens. vePEA is primarily focused on a governance role. vePEA holders can vote on proposals and make decisions on the development of PinkPea Finance. vePEA holders can also boost the APY of selected pools by up to 3x. vePEA is obtained from the staking of PEA tokens.
The total number of PEA tokens is 50 million, 60% of which is used to incentivize users to use the agreement and the rest consists of early fundraising (10%), team and technology development (10%), airdrop and early liquidity (5%), advisors (5%) and reserve funds (10%).
Marketing Promotion
The PinkPea Finance protocol will list the LP Staking pool on April 12, which includes automatic compounding of LP mining for the seven staking pools USDC-USDT, TRI-AURORA , wNEAR-ETH, USDT-wNEAR, wBTC-wNEAR, AURORA-ETH, and USDC-wNEAR. As of April 17, the Vaults section is online with 12 LP auto-compounding pools, including TRI-USDT, TRI-wNEAR, wNEAR-ETH, wBTC-wNEAR, USDT-wNEAR, USDC-wNEAR, USDC-USDT, TRI-AURORA, AURORA-ETH, stNEAR-wNEAR, stNEAR-xTRI, and FLX-wNEAR. Pre-mining of our native PEA token also starts soon!
PinkPea Fianace has launched the first round of the Telegraph Community Airdrop, where users do tasks such as following PinkPea Finance’s official Twitter, joining PinkPea Finance’s official Telegram Community and so on to share 5000 PEA airdrop rewards.
For the latest progress of project, please follow PinkPea Finance official channel:
Website: https://pinkpea.finance
Telegram: https://t.me/PinkPeaFinanceOfficial
Twitter: https://twitter.com/PinkPeaFinance