Perpy Finance has hit $5 million in its public sale of $PRY tokens. 25% of the total supply was up for grabs with a hard cap of $1250 per whitelisted community member.
A Major Accomplishment for Perpy Finance
Perpy Finance has reached $5 million in the public sale of its token $PRY that began on March 16 on Camelot decentralised exchange (DEX).
The sale took place with a hard cap of 5 million tokens at a fixed price of $0.02. $PRY has a total supply of 1 billion tokens, of which 25% were available for sale. For the first 24 hours, the sale was available only to whitelisted community members with a hard cap of $1250.
Upon completion of the TGE sale, tokens was planned to be fully unlocked, and unsold tokens would return to the treasury. The unsold tokens will be subject to vesting with a cliff period of 6 months and a vesting period of 18 months.
As per Perpy Finance, the team will use the funds for a variety of purposes, including auditing the present smart contracts, hiring additional DEVs, and developing protocols for the platform. Additionally, Perpy Finance intends to work on the platform UI/UX and seed the PRY/USDC liquidity pool with USDC after the public offering, with the funding.
Benefits for $PRY Stakers
Holders of $PRY tokens will have governance rights for decisions on impactful parameters and future technical implementations. Additionally, $PRY stakers will receive 100% of the performance fees and exit fees generated, resulting in a stable yield stream.
The stakers can also enjoy a fee deduction for transactions in Perpy Finance vaults ranging from 3-5% based on the number of tokens they hold. In addition, those who stake a certain amount of PRY will gain priority access to future vaults from Perpy Finance.
What is Perpy Finance:
Perpy is an on-chain protocol that enables copy trading on a decentralised perpetual exchange such as GMX. As part of Perpy’s core contracts, a factory contract builds vaults where traders can store their deposits for trading. A deposit results in a number of shares corresponding to an ERC-20 contract that serves as proof of deposit for the user.
Learn more about Perpy Finance:
Source : bsc.news
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