At present, most DeFi products provide relatively simple services. For example, lending agreements usually only provide deposit and loan services of encrypted assets. Users, as borrowers, usually need to use the borrowed assets to continue to make profits in other DeFi products. It is impossible to complete diversified operations such as deposits, loans, transactions, and financial management in one DeFi product, which will drive DeFi users to transfer assets back and forth in multiple DeFi protocols. In addition to the high gas fees brought about by the continuous transfer of assets, the time cost required for APY comparison and cumbersome operation steps in different DeFi products is also a problem that investors have to face.
There is an urgent need in the market for an aggregated DeFi platform that can not only maximize user yield, but also provide users with one-stop services including lending, liquidity mining, derivatives, and many others. The emergence of PinkPea Finance has made up for the lack of the market.
What is PinkPea Finance?
PinkPea Finance is a one-stop revenue aggregator. It is an ecological project built on the basis of Aurora and subsequently developed to multi-chains such as BSC, AVAX, and ETH. It can provide users with many DeFi services, so that users do not need to switch back and forth between multiple DeFi protocols and chains, aiming to increase user benefits and reduce operating costs.
PinkPea Finance can provide users with one-stop services such as liquidity mining, flexible interest rate lending, leverage mining, automatic reinvestment of multiple LP assets, single currency pledge, etc., and further linkages between products can be formed to help Investors maximize returns. PinkPea Finance has also designed more mechanisms to increase user income, such as increasing APY income through Staking platform coins.
In addition, PinkPea Finance has built Partner Pools with higher returns than conventional reward pools, and built an NFT-based reward solution to allow users, partners and PinkPea Finance to be deeply bound to promote each other, and Further enrich the user's income options.
PinkPea Finance also launched the Infinite Looper product, which helps users through more intelligent automatic triggers, based on automatic robots, and automatically borrows and repays during market fluctuations to reduce liquidation risks and asset losses caused by liquidation.
Building on Aurora is also a major advantage of PinkPea Finance. The Aurora chain can process thousands of transactions per second, the transaction efficiency is about 50 times higher than that of Ethereum, and the handling fee is 1000 times lower than that of Ethereum, only 2 seconds Transaction finality also means that Aurora greatly reduces the risk of frontrunning attacks. And Near is based on the POS consensus mechanism, and the transactions on Aurora's overall chain are more green and environmentally friendly. Therefore, it is built on Aurora, which endows PinkPea Finance with high scalability and can bring users a high-quality trading experience.
PinkPea Finance product features
At present, the specific products of PinkPea Finance include four sections, fund pool, lending, derivatives and infinite loop robot
1. Fund pool (Vaults)
Single &LP Pools
PinkPea Vaults is an income product similar to a machine gun pool. It includes a single currency pool and a liquidity pool. Users can stake a single asset or LP asset, and then automatically obtain higher compound interest returns in the Vaults pool. The Vaults pool is an algorithm-based automatic income pool. Staking users can automatically earn profits according to the optimal APY, and based on this, they can continue to reinvest and compound interest. Users only need to click to complete the deposit and withdrawal, and there is almost no gas fee.
In addition, we will take out 40% of the total PEA token (ecological token) as an additional incentive for users.
Partner Pools
Partner Pools is an upgraded version of Vault's Single & LP Pools product, which can provide users with more rewards. Partner Pools can effectively increase TVL for ecological partners, further increase users' awareness of these partners, and provide additional incentives based on PinkPea NFT (PPT).
Usually, compared with ordinary pools, Partner Pools have a higher rate of return, and users can pledge in Partner Pools to obtain more income rights. Ecological partners, who want to build Partner Pools, need the voting resolution of PinkPea DAO, which can be built and launched after passing.
2. Borrowing
PinkPea can provide users with DeFi lending services, similar to traditional lending agreements, users can become both lenders and borrowers.
As a lender, users can deposit idle funds into PinkPea's lending asset pool. When the user deposits assets into the loan pool, it will be used as the borrower's loan funds, and he will also receive two types of income, namely the borrower's loan interest income and mining income.
When borrowing money, the borrower needs to pledge the assets in the platform, and according to the different mortgage rates, can lend different amounts of funds, and must pay interest and return the funds to redeem the mortgage assets. Usually, the interest rate of the lending pool will be adjusted floatingly according to market demand. Collateral and loan line values are not matched one-to-one, which means that borrowers do not have to specifically borrow against the exact amount and value of collateral.
3. Leverage mining
PinkPea also provides derivatives services for users. Experienced traders can use leverage to borrow more funds to obtain greater returns.
This also means that users of derivatives will take on greater risks, which may lead to assets being more easily liquidated. Users first need to borrow backed assets from the loan pool in the "undercollateralize" mode, and they can choose different leverage ratios when borrowing, up to 10 times. This lending model does not support the withdrawal of funds by users, and this part of funds will be added to the fund pool by PinkPea. Users will obtain mining income and PEA income in this process, but of course they still need to pay the corresponding loan interest.
4. Infinite loop function
When the user's debt ratio exceeds a certain threshold, it will trigger the liquidation of the user's mortgage funds. PinkPea Finance provides leverage users with automatic infinite loop and one-click repayment functions. We set two price triggers that follow the market, one for borrowing and the other for repayment.
PinkPea has an internal robot, and users can create a fund range that prevents liquidation and can be dynamically adjusted through the robot. Bots will also automatically take advantage of price increases to help users profit. By continuously and dynamically adjusting position funds, users may be able to dynamically cope with potential liquidation risks brought about by market fluctuations.
Token economy
PinkPea Finance uses PEA as the main token of the ecology, and vePEA Token as the governance token.
Among them, PEA is mainly used as an incentive. For example, the income of various income pools is reflected in the form of PEA tokens. vePEA mainly focuses on governance and can be used to participate in governance and ecological decision-making voting, and holders can increase APY by up to 3 times in some specific income pools. vePEA is obtained from PEA token lock.
The total amount of PEA is 50 million, 60% of which are used to motivate users who use the agreement, and the rest includes early fundraising (10%), team and technology development (10%), airdrops and early liquidity (5%), consultants (5%) and reserve funds (10%).
market progress
The PinkPea Finance agreement will officially launch the LP Staking pool on April 12, including USDC-USDT, TRI-AURORA, wNEAR-ETH, USDT-wNEAR, wBTC-wNEAR, AURORA-ETH, and USDC-wNEAR. Reinvest in mining. In addition to receiving currency-based benefits, participating users can also receive PEA certificate rewards (also used as PEA's head mine output), and the agreement is officially launched as a sign.
The PinkPea Finance protocol itself can meet the rigid needs of the market and promote the innovation of the DeFi protocol paradigm, which is of vital significance to the development of the DeFi market.