PeerEx (PERX) is a community-focused IDO (initial DEX offering) platform that aims to offer new projects to users for investments. IDO platforms are useful for beginning new projects, crypto, etc. They help the users obtain funds for the project. The PeerEx (PERX) Launchpad aims to give power back to the community using cryptocurrency.
The website claims that the platform is the first community-owned Launchpad where users can trade in early-stage projects. These upcoming projects use Ethereum and Binance Smart Chain to launch. Binance Smart Chain is a blockchain platform used by several decentralized financial systems.
However, a few issues can be seen with the centralized system like income inequalities, high transaction costs with slow speed, and low trust in financial institutions. Thus, PeerEx (PERX) evolved into a noncustodial lending platform. A noncustodial platform allows users to keep their private keys. The platform seeks to enable users to perform cross-chain transactions without the involvement of any middleman. The platform intends to provide users with the capability to make investments and transactions with the risk factor of their choice.
To do so, the platform aims to allow users to sign up with their identification details and then add their ERC-20 tokens to the account. The PeerEx (PERX) smart accounts carry password-encrypted private keys for signing transactions. Users can also create a contract as per their preferred rates, wherein the smart contracts help them find the best available rates, confirm them, and execute swaps. As a result, the platform aims to provide users with secure, transparent, and efficient ways to invest. The platform’s native utility token, PERX, implements mining activities. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain.
PERX (PERX) is a deflationary ERC-20 token and intends to benefit token holders. A deflationary token's overall supply decreases with time while increasing the demand. The whitepaper claims that individuals holdings the PERX (PERX) tokens have a better credit rating in the lending market. Holders of PERX (PERX) tokens can use the tokens to pay yield on their loans and borrow against their token holdings. The ecosystem further claims to reward token holders with an annual percentage rate.
