PERI Finance dApp Guide for Bug Bounty Program
We will introduce our upcoming dApp details through the following info.
PERI Finance dApp is in the development progress, so you can open the dApp from Kovan testnet and participate the Bug Bounty Program.
(Reminder)
All PERI dApp users should have the latest version of the Metamask Browser Extension installed and to have enough ETH in your wallet to cover transaction fees. (check for the Appendix 1)
We will explain the full status of the Kovan testnet for bug bounty participants and users here, but you can also apply the same procedure for the Ethereum Mainnet for the upcoming dApp.
Add PERI Token on Metamask
If you want to use PERI through Metamask, we suggest adding Token to your wallet first.
Once you click the ‘METAMASK’, you will jump to the main page.
Click the Metamask on the extension. After you click the “Add Token”, you can see the Custom Token section, and fill the info as below:
- Token Contract Address: 0xca8bE6F8364D1316de2dD2BA06AA44CF07Da3D52
- Token Symbol: PERI
- Decimals of Precision: 18
You can add other assets same procedure as PERI. Here’s address of test token:
USDC: 0x98da9a82224E7A5896D6227382F7a52c82082146
pUSD: 0x76C1828257E48a5Aec0EE13d0f5018e0a494d1AD
(See the bottom Appendix to add ETH on Kovan wallet, and get PERI through Uniswap)
Main Page_PERI dApp
This is the main UI of PERI Finance dApp. Users can use stake, burn, and claim in this page, and we will launch additional functions by the next roadmap.
PERI dApp set the Target collateral ratio for 400%. This means that if users want to claim for staking, user’s wallet needs to have ample amount of PERI that least exceed the ratio of 400%. Also, If user’s collateral ratio is lower than 150%, the liquidation process will conduct within 3 days. So users need to monitor regularly to check their collateral ratio.
Staking
Users can mint PERI’s basic Pynth(PERI Synthetic Asset)pUSD through the staking process.
Click ‘STAKING’ from the main page, then you can choose types of tokens want to stake. We’re currently providing staking tokens; PERI and USDC.
If you select “Staking only PERI”, then you can input amounts to mint pUSD.
As shown in the above example, you will mint 100 pUSD by staking 32 PERI.
After launching PERI.Exchange, pUSD will be used for exchanging various kinds of Pynths.
Confirm the stake on the Metamask, and you can see the green “success” notification.
You can also mint pUSD by staking USDC only.
If you want to mint pUSD by staking USDC and PERI both, click the “Staking-PERI and USDC”, and input amount to mint pUSD and stake USDC.
The system will display the necessary amount of PERI by inputting the amount of pUSD and USDC.
Burn
To adjust your C-ratio, you can also burn the minted pUSD.
By burning pUSD, you can refund the staked tokens by selecting PERI, USDC, both PERI and USDC.
While your C-ratio is under the claimable rate
(Target Collateralization Ratio, 400%), click ”Fit to claimable”, dApp will burn the pUSD to adjust the claimable C-ratio(400%) automatically.
For example, you can refund 32PERI by burning 100pUSD as above.
(You have to hold certain amounts of PERI)
Also, “burning USDC only” procedure is working similarly with burning PERI only.
(You have to hold certain amounts of USDC)
By selecting both pUSD and USDC, you can get the USDC and PERI respectively. Input amount to burn pUSD and refund USDC.
The system will display the necessary amount of PERI by inputting the amount of pUSD and USDC.
Claim
If your C-ratio is above 400%, you can claim based on staked tokens. This claim is refreshed on every 7 days, so users should regularly check their claim dates.
Appendix 1. Add ETH on Kovan Testnet Wallet
Using above faucets, you can get ETH on the Kovan Testnet.
Once you sign in with Github ID and input your Metamask address, 2ETH will be received in your Kovan Wallet. (Once every 24hrs only)
Appendix 2. Add PERI by Uniswap (v2 only)
Users can change their ETH to PERI on Uniswap.
(Metamask must be set on Kovan Testnet)
Access the Uniswap dApp on the Uniswap main page.
Add the PERI token address on the blank and press ‘Import’
Token Address: 0xca8bE6F8364D1316de2dD2BA06AA44CF07Da3D52
And you can see that swap pair of ETH-PERI is available.
Proceed the swap from ETH to PERI. PERI is currently available on Uniswap V2.
Once you see this alert, ETH swap to PERI is successfully swapped.
About PERI Finance
PERI Finance is a decentralized, cross-chain synthetic asset issuance and derivatives exchange on the Polkadot network. PERI Finance allows accessing a wide range of both traditional financial and crypto assets in the form of leverage and non-leverage synthetic products. We empower users with the lower GAS fee, speedy transaction, and ample security from front-running or flash loan.
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