Pera Finance looks to attract more adoption for its growing yield farming protocol as it announces its PERA, its native token listing on Gate.io and Pancakeswap, after a successful IDO campaign in June
The trader-oriented yield farming protocol powered by daily decentralised trading competitions is capitalising on the usual fast-paced movement of DeFi products to list on both a DEX and a CEX, helping quickly. After the IDO campaign on DAOMaker, where it conducted a Seed Strong Holder Offering, the demand for its native token PERA has surged above the roof, necessitating a dual listing on Pancakeswap and Gate.io.
PERA has a wide range of utilities right from paying transaction fees, daily emission rewards, staking, yield farming and governance. In addition, by holding PERA, users will be able to participate in various multi-asset farming programs like trade farming, yield farming and DeFi farming with ecosystem partners.
DeFi growth in 2020 has been nothing short of phenomenal, experiencing more than 88X growth between the summer of 2020 to the climax of the bull run in May. With yield farming becoming a battle-tested model for bootstrapping liquidity to help prop up DeFi startups at their earliest phase, Pera Finance looks to help traders who bear the risk of contributing their funds as Liquidity Providers in various DeFi pools maximise their yields for their risk exposures. However, per the announcement, Pera Finance believes the current liquidity incentivisation process for yield farmers is lopsided.
“Usually, the supply side or liquidity providers are rewarded as part of the yield farming programmes. Pera Finance is here to change that. We observe that the current landscape incentivises one side of the hook, failing to reward the other side that actually creates the real demand. It has introduced customisable farming programmes and decentralised trading competitions for users to benefit from trade farming. With traders actively participating to drive daily volumes, Pera Finance’s objective to incentivise the trader-side of the liquidity mining program is fulfilled.”
Pancakeswap is Binance Smart Chain’s first unicorn and most widely used DEX, currently has over $8 billion as Total Value Locked. By listing PERA on the BSC’s leading DEX, Pera Finance’s native token joins the list of highly liquid tokens accessible by Pancakeswap’s vast user base. On the other hand, Gate.io is one of the leading custodial cryptocurrency exchanges. It marshalls a daily trade volume of over $1 billion and currently ranks among the top global exchanges per Coinmarketcap’s ratings.
The Pera Finance team is aggressively integrating with various ecosystem partners to build a strong pipeline for trade future trade partnerships. The current listings of BEP20 based $PERA will help the project pave the way to use $PERA on a global scale.
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