Pichi Finance Announces the Launch of Its Utility Token, PCH, on Gate.io and MEXC

Token Generation Event (TGE) will soon offer a revenue sharing mechanism.

Hong Kong, Hong Kong, 16th August, 2024, Chainwire

Pichi Finance, a trustless points trading protocol offering price discovery to tokens Pre and Post-TGE, has announced the listing of its utility token, PCH, on Gate.io and MEXC, to be available for trading on August 19, 2024, 16:30 UTC. This Token Generation Event and CEX listing follows the conclusion of the token’s public sale on Dao Maker.

The TGE is a key component of Pichi Finance’s comprehensive roadmap to enable users to earn points securely while gaining access to a liquid market for trading these earned points.

The Pichi (PCH) token will allow holders to take part in potential revenue sharing with the project. The protocol’s main revenue stream is through transaction fees and DeFi Integrations on Pichi, and positions the protocol at the forefront of building points infrastructure for users and projects alike.

Milestone TGE Follows Successful Completion of $2.5M Seed Fund Raise

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.

The investors shared Pichi Finance’s vision to enable trustless points trading through the ERC-6551 standard, to unlock the secure trading of points across protocols and to bring another layer of liquidity to the ecosystem.

The investment enables Pichi Finance to target new points programs to enable trading on day 1, to create vaults which can allow users to earn yield and points together, and to expand to other EVM Chains.

As part of Pichi Finance’s extensive roadmap, the protocol is also set to launch on Arbitrum, the leading Layer 2 technology that empowers users to explore and build in Ethereum, and the Mantle Network, the Layer 2 rollup that combines Ethereum's security with cheaper gas fees and higher throughput.

Offering Price Discovery to Tokens Pre and Post-TGE

Pichi Finance is the first trustless points trading protocol, enabling users the ability to trade points from their preferred protocols like EigenLayer, Ether.Fi, and HyperLiquid before TGE. Points are incentives in blockchain protocols for participating in activities like staking, farming, and voting to track a user's loyalty to the project, in which the points can be converted into their share of the project's airdrop upon TGE. Conventionally, points are stored off-chain and tied to wallet addresses, limiting their tradability on an open market.

Pichi provides significant design improvements to the process of trading points by leveraging ERC-6551 Accounts. These are wallets owned by NFTs and selling the NFT entails transferring ownership of the associated wallet along with any accrued 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 ability to withdraw the points-earning tokens and sell the Pichi Wallet, effectively selling the accrued points. By leveraging ERC-6551 accounts, Pichi Finance aims to unlock tradability by providing a trustless, transparent, and secure method for users to be able to trade points before and after the TGE.

Pichi Finance se consacre à libérer la valeur des points dans la finance décentralisée en créant un marché sans confiance pour échanger ces récompenses. L'équipe de Pichi Finance a été invitée à participer à une discussion Twitter/X Spaces de Mario Nawfals le vendredi 16 août 2024 à 16h00 UTC, au cours de laquelle les utilisateurs peuvent en savoir plus sur le mécanisme de partage des revenus et le protocole d'échange de points de Pichi Finance.

À propos de Pichi Finance

Révolutionnant la façon dont les utilisateurs peuvent gagner et échanger des récompenses dans l'espace DeFi, Pichi Finance présente la solution de compte innovante ERC-6551. Leur protocole d'échange de points sans confiance permet la découverte des prix des jetons avant et après l'événement de génération de jetons (TGE), permettant aux utilisateurs d'avoir la possibilité d'échanger de manière transparente des points à partir de leurs protocoles préférés.

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