Pichi Finance and Mantle Network Join Forces to Enhance Token Price Discovery

Pichi Finance and Mantle Network have recently teamed up for a strategic partnership. This partnership will aim to enhance price discovery before and after the Token Generation Event of coins.

Layer 2 Ethereum network Mantle and points trading protocol Pichi Finance have announced a new partnership aimed at enhancing price discovery before and after Token Generation Events (TGEs).

According to a recent tweet from Pichi Finance, Mantle users can now deposit mETH, USDe, sUSDe, and YT (mETH, USDe) to earn Pichi Points, which can then be traded in Pichi's Marketplace. The partnership is part of a broader effort to accelerate the vision of allowing for price discovery of tokens before and after TGE.

We're excited to introduce our chain integration with @0xMantle & accelerate our vision of allowing for price discovery of tokens pre & post-TGE, to all!

Mantle users can now deposit mETH, USDe, sUSDe, YT (mETH, USDe) to earn Pichi Points & trade points in Pichi's Marketplace… pic.twitter.com/kH5cEXleuR

As part of the collaboration, Pichi Finance will integrate Mantle into its platform, enabling users to deposit and withdraw assets seamlessly. Mantle users will also be able to participate in Pichi's points trading ecosystem, earning and exchanging points for various benefits.

The Mantle Ecosystem, built on Ethereum, comprises an L2 Network, a decentralized autonomous organization (DAO) known as Mantle Governance, one of the largest on-chain treasuries (Mantle Treasury), and an Ether (ETH) liquid staking protocol (Mantle LSP).

Meanwhile, Pichi Finance is the first trustless points trading protocol, allowing users to trade points from their favorite protocols before TGE. Traditionally, points are stored off-chain and tied to wallet addresses, which restricts their tradability on an open market.

With Michi Protocol, users can create a Michi Wallet NFT and deposit tokens to earn points into the ERC-6551 wallet. As points accumulate in the wallet, users can withdraw the points-earning tokens and sell the Michi Wallet NFT, essentially selling the accrued points.

About TGE & How Pichi Facilitates Token Discovery

A Token Generation Event (TGE) is when a blockchain start-up issues tokens and makes them available to the public (for example, through an initial coin offering). These tokens are designed with utility in mind and, to begin with, only represent a small portion of the finished product.

While they don't have a value store at this stage, they are designed so that applications can be built around them. One issue with TGE is the price discovery before and after it happens. Many users struggle to find the exact price of a token.

Pichi allows for price discovery of tokens pre & post-TGE to everyone.

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