dApp

PeerEx – Facilitating Business Transactions In P2P Market Leveraging Smart Contracts

from 3 years ago 0 0 1227

Non-custodial finance or decentralized finance (DeFi) is here to change the face of the financial industry over the next decade. DeFi leverages the blockchain-based smart contracts to move financial products like loans, trading, insurance, borrowing, etc. on a blockchain network.

Non-custodial finance or decentralized finance (DeFi) is here to change the face of the financial industry over the next decade. DeFi leverages the blockchain-based smart contracts to move financial products like loans, trading, insurance, borrowing, etc. on a blockchain network.

The Working of the PeerEx Platform

The PeerEx exchange offers a conducive environment and an intuitive interface for its users. The users can SignUp by entering their credentials on PeerEx. This process is very easy and hassle-free.

Once they create their smart contract account, they can add their ETH or ERC20 tokens to it. The PeerEx smart accounts come with password encrypted private keys for signing transactions in addition to other wallets. Users can also create a contract as per their preferred rates wherein the smart contracts will help them to find the best available rates, confirm them and execute swaps.

The good thing about PeerEx is that it is a transaction mining platform. Thus, for any gas fee spent while using the PeerEx Network, users get to earn equivalent Perx tokens.

Perx is the native cryptocurrency of the PeerEx blockchain network. It works as a deflationary token meaning for any withdrawal of ETH or ERC20 token, the PeerEx network burns 0.1% of Perx from its available liquidity pool. For every new asset listed on the PeerEx Network, the project has to pay 100k Perx of which 50% is burnt immediately.

The Perx holding is also a sign of a better credit rating of an individual in the lending market. Users can also avail lending against their Perx holdings as well as pay loan interest using the Perx tokens. For holding the Perx token, the ecosystem rewards users with a lucrative annual percentage rate of 27%.

In its official whitepaper, the PeerEx team wrote:

“The project’s aim is to develop a platform which sanctions anyone in the world to facilely and expeditiously make financial investments and transactions yet keeping the risk factor as per their individual convenience”.

Team of the project

PeerEx Network Features and Debt Marketplace

PeerEx aims to democratize the entire financial marketplace from centralized financial systems. Some of its key features are:

Completely trusted system

Decentralized credit systems

Collateral Liquidity Report

No KYC and No Data Collection

Peer-to-Peer Decentralized Network

“Our goal is to implement a platform to surmount the quandaries of the centralized financial investment industry and to liberatingly make sustainable financial investments anywhere in the world. The Peerex team is a collaboration project with a blockchain technical team and marketing experts, our mission is to develop transparent and genuine projects by organizing and orchestrating strategies¬ just projects with conceptions,”

project team wrote.

PeerEx supports multiple assets to its Debt marketplace like ETH, DAI, MKR and 8 other ERC20 tokens. As said, users can borrow short and long-term loans at their own discretion. Besides, all loans disbursed are completely backed by collateral held in the smart contracts.

The PeerEx off-chain architecture also ensures high-speed and low latency margin trading.

All-in-all PeerEx focuses more on creating a complete ecosystem for decentralized financial products and transactions. It aims at being the platform for enterprise-grade financial solutions thereby offering users security and absolute control over their finances.

About PeerEx

The PeerEx Network is one such non-custodial decentralized market that focuses on bringing business transactions to a DeFi marketplace. The PeerEx network facilitates the exchange of Peer-to-Peer ERC20 tokens and some collateral-based lending platforms.

By bringing the financial products to the blockchain, PeerEx facilitates on-chain transactions without any middlemen or third-party involvement. The clients executing transactions have absolute control over all the keys with PeerEx having absolutely no access to it.

On PeerEx, users can create or pick one of the financial products to execute a P2P trade using smart contracts. It is a complete democratic platform where users can opt from different loan options or make their own offer in exchange for the ERC20 tokens. Users also get the complete freedom to set their lending or borrowing interest rates in a free market ecosystem. PeerEx works more like a P2P market for business transactions.