Hong Kong, Hong Kong, August 16, 2024, Chainwire
Token Generation Event (TGE) to Offer Revenue Sharing Mechanism SoonPichi Finance, a trustless point trading protocol offering pre- and post-TGE token price discovery, has announced the launch of its utility token, PCH, on Gate.io and MEXC and is available for trading starting August 19, 2024, 16:30 UTC. This Token Generation Event and listing on CEX follows the completion of the public token sale on Dao Maker.
TGE is a key part of Pichi Finance’s comprehensive roadmap to enable users to securely earn points and access a liquid market to trade their earned points.
The Pichi (PCH) token will allow holders to participate in a potential revenue split with the project. The protocol’s primary revenue stream comes from transaction fees and DeFi integrations on Pichi, which puts the protocol at the forefront of building a user and project points infrastructure.
TGE milestone after successful completion of seed capital raising of USD 2.5 million
On August 1, 2024, Pichi Finance announced the completion of a USD 2.5 million seed funding round led by UOB Venture Management, Signum Capital, and Mantle Network.
Investors shared Pichi Finance’s vision of enabling trustless points trading via the ERC-6551 standard, unlocking secure points trading across protocols, and introducing another layer of liquidity to the ecosystem.
The investment will enable Pichi Finance to develop fresh point programs enabling day-one trading, create vaults allowing users to earn profits and points simultaneously, and expand to other EVM chains.
As part of Pichi Finance’s broad roadmap, the protocol is also set to launch on Arbitrum, a leading Layer 2 technology that enables users to explore and build solutions, and Mantle Network, a Layer 2 stack that combines the security of Ethereum with lower gas fees and higher throughput.
Offering Price Discovery (NASDAQ:) service for tokens before and after TGE
Pichi Finance is the first trustless points trading protocol, allowing users to trade points from their preferred protocols such as EigenLayer, Ether.Fi, and HyperLiquid before TGE. Points are incentives in blockchain protocols to participate in activities such as staking, farming, and voting to track a user’s loyalty to the project, where points can be exchanged for their share of the project’s airdrop on TGE. Conventionally, points are stored off-chain and tied to wallet addresses, which limits their ability to be traded on the open market.
Pichi provides significant design improvements to the points trading process by using ERC-6551 accounts. These are wallets that belong to NFTs, and selling an NFT involves transferring ownership of the associated wallet along with any accumulated points.
Users can create a Pichi Wallet and deposit tokens that can earn points into the associated ERC-6551 wallet. Once points accumulate in the wallet, users have the option to withdraw the point-earning tokens and sell the Pichi Wallet, effectively selling the accumulated points. Using ERC-6551 accounts, Pichi Finance aims to unlock trading opportunities by providing users with a trustless, crystal clear, and secure method for trading points before and after the TGE.
“The PCH token is the backbone of our technology stack. With the launch of our Token Generation event, Pichi Finance is redefining how points are viewed as an integral component of incentives. Our token would enable users to deepen their engagement with Pichi by sharing revenues and further increase the growth of the ecosystem by enabling the integration of more projects with Pichi points, creating a flywheel effect.” -Wesley Tang, Founder, Pichi 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 has been invited to join Mario Nawfals’ Twitter/X Spaces discussion on Friday, August 16, 2024 at 16:00 UTC, where users can learn more about Pichi Finance’s revenue sharing mechanism and points trading protocol.
About Pichi Finance
Revolutionizing the way users can earn and trade rewards in the DeFi space, Pichi Finance introduces an groundbreaking ERC-6551 account solution. Their trustless points trading protocol enables token price discovery both before and after the Token Generation Event (TGE), allowing users to seamlessly exchange points from their preferred protocols.
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ContactAimee HillmanPeninsula PR for Pichi Financeaimee.hillman@peninsula-pr.com
