We were delighted to welcome our guest from Peri. The AMA took place on July 31st, 2021 and our guest was @garethbowlesperi.
The total reward pool was 500$ and was divided into three parts. In this AMA Recap, we will try to summarize some of the most interesting points for you.
Part 1 — introduction and questions from the Telegram&Bitcointalk community
Gold Rocket | Satoshi Club: Hello, dear Satoshi Club community! We are pleased to announce AMA with Peri.
Gold Rocket | Satoshi Club: Today our guest is @garethbowlesperi
Gareth Bowles: Glad to see you! @GoldRocket27
Gold Rocket | Satoshi Club: How are you doing 😁
Gold Rocket | Satoshi Club: We are also honored to have you here today.😍
Andrés M. | Satoshi Club: Yes, is a pleasure to have you here Gareth.👋
Gareth Bowles: Doing very good, it’s honored to be host on Satoshi club again too!
Gold Rocket | Satoshi Club: Thanks for your kind words❤️
Gareth Bowles: We had AMA with you guys in may, 3 months passed:)
Gareth Bowles: Pleasure:)
Gold Rocket | Satoshi Club: how fast time flies 🚀
Gold Rocket | Satoshi Club: Let’s start!
Gold Rocket | Satoshi Club: Please remind us a little about yourself and the project😊
Andrés M. | Satoshi Club: That’s true, there we have the AMA recap of that incredible AMA. Let’s check it Satoshiclubbers https://esatoshi.club/peri-finance-x-satoshi-club-ama-session-07-may-2021/
Gareth Bowles: Sure! I will say ‘done’ after I finished my answer.
Gareth Bowles: First of all, I’m Gareth Bowles, and I majored in business study.
I spent most of my career on financial sector, including director of finance, currency dealer and so on.
Gareth Bowles: And PERI Finance is a cross-chain based synthetic asset issuance and derivatives decentralized exchange.
Gareth Bowles: This means PERI dApp will run on multi-chain networks like Ethereum, Polygon and Polkadot.
Gareth Bowles: Users can exchange synthetic asset, which is tokenized assets that have the same value as original assets.
Gareth Bowles: Also, derivatives means that PERI Finance will provide leverage and inverse functions to synthetic assets.
Gareth Bowles: done!
Gold Rocket | Satoshi Club: Thanks for your great intro👏
Gold Rocket | Satoshi Club: What’s new with you during these three months?
Gareth Bowles: Most of all, our staking dApp officially opened on Polygon mainnet!
Gareth Bowles: https://staking.peri.finance/
Andrés M. | Satoshi Club: Let’s remember, what is the essence of PERI and which problems do you want to solve?
Gold Rocket | Satoshi Club: Wow! Congratulations!🔥
Gold Rocket | Satoshi Club: this is a big milestone👏
Gareth Bowles: Thanks Andres! We aimed to solve current issues on Ethereum Network like high gas-fee, low speed transactions with PERI Finance dApp first. So this is the reason that we chose dApp network for Polygon.
Gold Rocket | Satoshi Club: It really makes sense
Gareth Bowles: Indeed, but it’s just the beginning of us:)
Andrés M. | Satoshi Club: Great targets, is really needed to increase the adoption
Gold Rocket | Satoshi Club: And we are at the beginning of the first part and I’m sure you can’t wait to move on to questions from the community.😁
Gareth Bowles: Sure we can, Let’s move it now!
Q1 from Telegram User @orlemys
I read an article that said you would launch on BSC Mainnet with a 1025% APY on staking. As a new investor, I’d like to know what are the specifics of staking with Peri. What are the requirements, what is the coin or token I should stake in, in what token do I get my rewards, is there any punishment for staking and unstaking constantly? Also, is that APY the standard or is there a minimum APY? How risky is it?
Gareth Bowles: As for new stakeholders on PERI Finance, we have released detailed guide by laymen’s term, I will give you links below:
Gareth Bowles: https://medium.com/perifinance/peri-finance-dapp-guide-on-matic-polygon-mainnet-31cce0a61a71
https://medium.com/perifinance/polygon-matic-bridge-guide-on-peri-finance-e8c7e6570056
https://medium.com/perifinance/how-to-stake-peri-token-a-video-guide-with-claim-details-21d1b12b6e06
https://medium.com/perifinance/peri-finance-withdraw-guide-on-listed-exchanges-4a0013f547c2
https://medium.com/perifinance/peri-finance-dapp-details-about-peri-staking-93a61ea0e89c
https://medium.com/perifinance/un-staking-guide-peri-finance-dapp-969049899ebb
https://medium.com/perifinance/polygon-bridge-peri-transfer-guide-to-ethereum-mainnet-a71c9b72373c
Gold Rocket | Satoshi Club: Thanks for sharing
Gold Rocket | Satoshi Club: such guides make life easier for the user👍
Gareth Bowles: For simple process explanation,
users should
buy PERI on listed exchanges → transfer tokens by Polygon bridge → staking on PERI dApp.
Gareth Bowles: We don’t give any penalities for staking-unstaking.And also for the APY, it’s up to daily TVL(total value locked) on PERI dApp, users can check daily TVL on dApp.
Gold Rocket | Satoshi Club: It is easy enough to do it. Please remind me on which exchanges we can buy PERI?

Andrés M. | Satoshi Club: Where is listed right now?
Gold Rocket | Satoshi Club: Btw great APY
Gareth Bowles: Sure thing!
We have listed on Gateio, MEXC, and XT for CEX.
And users can swap PERI through ETH on UniSwap.
Gareth Bowles: Thanks Gold:)
Gareth Bowles: Also, we will re-open Pancakeswap to BSC users very soon.
Gareth Bowles: done!
Gold Rocket | Satoshi Club: thank you very much for the detailed answers! ready to move on to the next question?🚀
Gareth Bowles: Yes please:)
Andrés M. | Satoshi Club: A great list of big exchanges 👏
Q2 from Telegram User
@JaviSuBs
PERI Finance offers users a low gas rate and achieving transactions is faster as achieving these objectives if more than 1000 users are doing a transaction at the same time that PERI Finance offers responsiveness and security at the time of a transaction. ??
Gareth Bowles: Good question. As I mentioned in the beginning, PERI Staking dApp is live on Polygon. They offers large amounts of transactions without issues, and providing services to users with low-gas fee.
Gareth Bowles: Also, we are doing numerous times of internal test, and bug-bounty program to users is still opened since this June.
Gareth Bowles: So we can say that PERI Finance is fully-prepared with transaction bottleneck issue, and users can feel safe for it:)
Gareth Bowles: done!
Andrés M. | Satoshi Club: That’s great, so there will be no problem with a congested network?
Gold Rocket | Satoshi Club: Safety first👍
Andrés M. | Satoshi Club: Btw, have you done audits? Which problem did you find on your contracts?
Gareth Bowles: Yes, we had many times of intense test of our dApp!
Also, we have done audit on Certik without any critical issues.
Gold Rocket | Satoshi Club: It is very important. Thank you very much for taking security so seriously.
Gareth Bowles: That report was not 100% resolved(91% actually)
But that issues were about styling code, not for serious malfunctions on dApp.
Gareth Bowles: Sure it is!
Gareth Bowles: Safe first as you said👍
Andrés M. | Satoshi Club: Thank you so much for your great answer.
Gareth Bowles: Pleasure:)
Andrés M. | Satoshi Club: Time to proceed with the 3rd question🥳
Gareth Bowles: Ready!
Q3 from Telegram User @konditer_rolex
How did it happen that a hacker was able to steal 61000 Peri from ChainSwap? How did you manage to block the address of a hacker who managed to withdraw tokens? Share your experience of fighting hackers and how do you think it is realistic to protect yourself from hackers by 100%
Gareth Bowles: Right, the previous ChainSwap hacking issue was also the serious thing to us too.
As we’ve noticed that problem, we bought all of amounts of PERI that hackers dump on exchange to protect users’ assets.
Gareth Bowles: And we blocked hacker’s wallet to prevent additional transaction.
Therefore, we have successfully preserved all of users’ PERI assets.
Gareth Bowles: Here’s Etherscan history:
Gareth Bowles:https://etherscan.io/address/0x65e393bb8c9f5e6ee4238c3b8863506f76789880#events
Gareth Bowles: And this is detailed announcement about Chanswap hack:
Gareth Bowles: https://medium.com/perifinance/important-notice-2-chainswap-hack-a16d2b6a6940
Gareth Bowles: done!
Andrés M. | Satoshi Club: We are happy to know that everything is ok right now, great job facing the problem ASAP👏
Gold Rocket | Satoshi Club: How did you manage to block the hacker’s address? it was not easy it seems to me
Gareth Bowles: Yes, by finding transaction changes on our smart contract, we have found the hacker’s wallet. And our dev team freezed that account very quick.
Gold Rocket | Satoshi Club: Great job guys
Gareth Bowles: Thanks! Our dev team worked very well.
Gold Rocket | Satoshi Club: Thanks for your honest answers..
Gold Rocket | Satoshi Club: Ready to proceed to the next question?
Gareth Bowles: Sure!
Q4 from Telegram User @Brainchest
PERI Liquidity Pool depends on the amount of PERI in the stacking.
PERI Max Supply: 20,000,000
So the liquidity is limited to this amount.
Question: What if you are very popular and trade large amounts? How will you be able to ensure minimum spreads and the ability to execute contracts?
Gareth Bowles: We know that many of users struggling to participate Polygon’s staking dApp, so we are going to provide staking dApp on multi-chain network.
Gareth Bowles: This will start on BSC within 2 week, and ETH Mainnet later.
Gareth Bowles: We expect that this will let users to join staking dApp more, and this will give more abundant Liquidity pool.
Gareth Bowles: done!
Gold Rocket | Satoshi Club: it really helps to empower
Gareth Bowles: Oh, question was about large amounts, and I think dApp on multi-chain will be also for this answer.
Andrés M. | Satoshi Club Great answer Gareth, ready for the next one?😃
Gareth Bowles: Yeap:)
Q5 from Telegram User @andrey_seleznov
Hi PERI!
As we see NFTs and related projects are on the peak of the hype lately and will be very popular in the foreseeable future. I see that Peri is no stranger to NFTs either and introducing Pynths’ NFTs – linked synthetic assets that promise to be a game changer for the massive NFTs market. Peri plans to show its uniqueness in the Pynths’ NFT ecosystem and greatly reward and monetize artists and investors. Please elaborate about the Pynths’ NFT ecosystem, how does it benefit both artists and investors at the same time? What are the unique features that only Peri provides in the rapidly evolving NFT space?
Thank you!
Gareth Bowles: I think most of Satoshi users know that NFT market is a talk of the town in blockchain world. PERI Finance will launch NFT fractional assets service to liquidate NFT easier.
Gareth Bowles: This is also a kind of synthetic assets, and users are free to trade on crypto exchanges.
Gareth Bowles: done!
Andrés M. | Satoshi Club: The NFTs will have usecases or will be only collectibles?
Gareth Bowles: Well, with additional explain, by users make NFT fractional assets, they can encash some amounts of NFT and making additional staking.
So we can say that this would be an additional usecases for NFT.
Gold Rocket | Satoshi Club: Thanks for your answers 😃
Gold Rocket | Satoshi Club: Ready to proceed to the last question of this part?😊
Gareth Bowles: Yes please:)
Andrés M. | Satoshi Club: Perfect, we will be waiting for the launching👏
Q6 from Telegram User @yellowchamp
PERI tokens are used for governance. You have created a PIP system (PERI Improvement Proposals) to hear community opinions. So,can you explain more about this system? How can anyone of your community contribute to PIP system? How does proposal being submitted by the community and how it will being sort out and evaluated by your team? What are the advantages and benefits that PIP system will bring to Peri network and to the community? For those community that will be part of PIP system,can they get any community incentives or benefits from Peri Global? Thank you
Gareth Bowles: PERI PIP is a name of PERI ecosystem governance. Users can suggest their question with 1PERI, and question approval is decided by user’s staked PERI amount.
Gareth Bowles: So I can say that this would be a kind of ‘council’ on PERI Finance ecosystem.
Gareth Bowles: And this system will open on December of this year.
Gareth Bowles: done!
Andrés M. | Satoshi Club: Wow, a lot of amazing events are coming for Peri, please share your roadmap with us to check it in detail😁
Gold Rocket | Satoshi Club: we are ready to wait until December if you promise to share with us 😁
Andrés M. | Satoshi Club: Then, we will need another AMA on December to know more 😁
Gareth Bowles: Sure! Here’s roadmap of PERI Finance on 2021:
– Technological Implementation from Various Projects (August)
Chainlink Price Feeds, Polygon Network, MakerDAO’s DAI Stablecoin etc.
– Launch PERI Decentralized Exchange Service (September)
Create and Trade diversified Pynths from PERI DEX
Other Crypto tokens, Forex, Commodities, etc.
– Launch PERI NFT Decentralized Exchange Service (October)
Generate NFT Fractional Assets by staking NFT on PERI Vault
– Launch Pynths Perpetual Futures Service (November)
Add leverage to Pynths up to 20X
– Launch PERI DAO(Decentralized Governance of PERI Finance) (December)
Users can decide PERI Ecosystem agenda by voting with PERI token
Gareth Bowles: Glad to:)
Andrés M. | Satoshi Club: Will be awesome🥳
Gold Rocket | Satoshi Club: Thanks for sharing
Gareth Bowles: Pleasure:)
Gold Rocket | Satoshi Club: And thanks for your great answers 😃
Andrés M. | Satoshi Club: Thanks for share it Gareth, and thanks for this fantastic first part of the AMA, your answers were clear and detailed to our community👏, great job
Gold Rocket | Satoshi Club: Now get ready for the most impressive part of our AMA – the live questions!🚀
Gareth Bowles: You’re welcome, questions about PERI are always open on our telegram:)
Part 2 — live questions from the Telegram community
Q1 from Telegram User @Smartling
From you roadmap, it says you will Launch Pynths Perpetual Futures Service in November. Can you tell us more about this?
Gareth Bowles:
A1. PERI will give users to users Perpetual Futures Service.
This can make users to invest various synthetic assets on short/long position with up to 20x leverage.
Q2 from Telegram User @rinnguyen
High gas fee & slow network are the main issue with platform, How does Peri solves this problem?
Gareth Bowles:
The main reason for using Polygon is low gas-fee, swift transaction.
PERI Finance recognizes that transfering their asset from ETH to Polygon is still complex, so we keep making guides on official medium blog. Please check!
Q3 from Telegram User @satishgmr
Can You explain more about “Synthetic assets” in simpler terms
Gareth Bowles:
Sure, ‘Synthetic Assets’ indicates a token that has the same values with another asset.
For example, pUSD which is basic synthetic assets of PERI Finance, values same 1USD in real currency.
And for stocks, like if we make pTSLA for synthetic asset, this price goes same with real Tesla stock.
Q4 from Telegram User @Brainches
I apologize for the misunderstanding, but I want to ask again. Total Supply of PERI is 20,000,000 This means that changing the price of PERI token will affect the liquidity of the pool, because PERI Liquidity Pool is created by staking PERI and minting Pynth called pUSD.And when the price of PERI will decrease, and competitors can influence the price specifically by selling PERI on exchanges, the value of the pool will decrease.How can you protect the liquidity pool and make it deep enough?
Gareth Bowles:
I think this problem is occured by PERI price drops.
We are keep achiving our milestone, doing numerous marketing program, and improving our dApp steadily.
Surely we can’t control the price, but I think this will make PERI price go up.
So this is the reason that we’re compensating for user’s continuous support of PERI Finance by participating staking program.
Q5 from Telegram User @Rajkumari8
English is a popular language … How does your project plan to spread awareness of its project in different countries where English is not good? Does your GREAT PROJECT have a local community for them to better understand #peri project?
Gareth Bowles:
Yes we have. We’re currently managing China and Korean local PERI community.
https://mp.weixin.qq.com/s/e2Q6pChnNjazgsQvlqy6dQ
Q6 from Telegram User @surendra040
61000 Peri have been hacked . What are the impacts in toknenomics and token supply of project ? has there been any changes? What have been done till now of hacker wallet address
Gareth Bowles:
As I mentioned previous question, the hacker’s wallet is successfully blocked, and tokenbomics/token supply is not changed by this issue. Users also able to check details on our smart contract history and medium announcements.
Q7 from Telegram User @Pokerlight
Is it possible to buy PERI without having to go through the KYC process?
Gareth Bowles:
If you want to buy without KYC, we recommend swap on UniSwap.
Pancakeswap for BNB holders will open soon, so stay tuned for upcoming news:)
Q8 from Telegram User @hansoyeon
What makes PERI Finance unique and different from other projects?
Gareth Bowles: So many things we have!
We will launch dApp on multi-chain, provide synthetic assets DEX with NFT fractional assets, leverages, having lots of major tech integrations like Chainlink, Polygon, DAI and more soon…
Users can join these services by staking dApp, so we highly recommend users to stake PERI before other dApps will open, and claim reward!
Q9 from Telegram User @sophiejohnson1
Burning tokens makes tokens rare. Does PERI Finance burn tokens to stabilize the reward and create a limited supply with high demand?
Gareth Bowles:
As you see on the tokenomics, total supply of PERI token is relatively low than other crypto projects.
So we don’t have any plan about burning PERI now.

Q10 from Telegram User @nguyenben
PERI holders staking PERI and minting Pynth called pUSD, what will pUSD be used for?
Gareth Bowles:
pUSD will be used for buying various synthetic assets in PERI Exchange.
We called ‘Pynths’ as PERI synthetic assets.
So pUSD will be the basic token of PERI dApp. And users can mint pUSD by staking their amount on our dApp.
Part 3 – Quiz Results
In the final part we tested your knowledge in terms of Peri. They’ve prepared 4 questions for this part. The total reward pool for quiz was 300$.
For more information and
future AMAs, join our Social Media channels:
English Telegram group: https://t.me/Satoshi_club
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Spanish Telegram group: https://t.me/satoshi_club_spanish
Telegram Channel: https://t.me/satoshi_club_channel
Twitter: https://twitter.com/realsatoshiclub
Website: https://esatoshi.club/
Our partners:
Peri Website – pynths.com
Peri Telegram – @peri_global