Pichi Finance is a trustless points trading protocol that leverages on the ERC-6551 standard, to allow price discovery on tokens Pre and Post-TGE.

The ERC-6551 allows for NFTs minted in Pichi to be treated like normal self-custodial wallets - allowing them to own assets, and even points.

They can then be traded on our marketplace trustlessly, without any collateral needed.

What is Pichi FInance?​

Pichi Finance (PCH) stands out as a trustless points trading protocol, enabling users to trade points from various protocols before their token generation event (TGE). This innovative platform utilizes the ERC-6551 standard, allowing NFTs minted within Pichi to function as self-custodial wallets. These NFTs can own assets and points, facilitating seamless and trustless trading on the Pichi marketplace without requiring collateral.

The protocol is owned and operated by Michi Protocol Ltd., ensuring a robust and secure environment for users. By leveraging ERC-6551 wallets, Pichi Finance enhances the flexibility and utility of NFTs, transforming them into dynamic financial instruments. This approach not only enables price discovery for tokens both pre- and post-TGE but also expands the potential use cases for NFTs in the broader blockchain ecosystem.

The integration of ERC-6551 wallets means that NFTs can now hold and transfer assets autonomously, providing a new layer of functionality and security. This mechanism allows for the efficient transfer of wallet custody, ensuring that users maintain control over their assets at all times. The Pichi Finance marketplace operates without the need for collateral, emphasizing trustless transactions and enhancing user confidence.

By focusing on pre- and post-TGE price discovery, Pichi Finance offers a unique value proposition in the cryptocurrency space. The ability to trade points from different protocols before their tokens are generated provides users with early access to potential investment opportunities. This feature is particularly beneficial for those looking to capitalize on emerging projects and trends within the blockchain industry.

What is the technology behind Pichi FInance?​

Pichi Finance, symbolized by PCH, stands out in the cryptocurrency landscape by leveraging the ERC-6551 standard. This innovative approach allows NFTs to function as smart contract wallets, significantly enhancing their utility and value. Unlike traditional NFTs, which are primarily digital collectibles, NFTs under the ERC-6551 standard can own assets and points, making them akin to self-custodial wallets. This capability opens up a myriad of possibilities for users, including the ability to trade points from their favorite protocols even before the Token Generation Event (TGE).

The ERC-6551 standard is a game-changer for Pichi Finance, enabling a trustless points trading protocol. Trustless means that transactions can occur without the need for intermediaries or collateral, ensuring a more secure and efficient trading environment. This is particularly important in the world of decentralized finance (DeFi), where the elimination of middlemen reduces costs and speeds up transactions.

Security is a paramount concern in any blockchain-based system, and Pichi Finance addresses this through the inherent properties of the blockchain technology it employs. Blockchains are decentralized ledgers maintained by a network of nodes, each holding a copy of the entire ledger. This decentralization makes it extremely difficult for bad actors to alter the ledger, as they would need to gain control of a majority of the nodes simultaneously—a feat that is practically impossible.

Moreover, the use of smart contracts in Pichi Finance adds another layer of security. Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically enforce and execute the terms of the contract when predefined conditions are met, eliminating the risk of human error or manipulation. This ensures that all transactions are transparent, immutable, and verifiable by anyone on the network.

In addition to its robust security features, Pichi Finance's use of ERC-6551 accounts, also known as Tokenbound Accounts, allows for a more dynamic interaction with NFTs. These accounts enable users to engage in price discovery for tokens both before and after the TGE. Price discovery is a crucial aspect of trading, as it helps determine the fair market value of an asset based on supply and demand dynamics. By facilitating this process, Pichi Finance provides a more accurate and transparent valuation of tokens, benefiting both buyers and sellers.

The marketplace within Pichi Finance operates seamlessly, allowing users to trade their NFTs and points without the need for collateral. This is made possible by the trustless nature of the protocol, which relies on the security and transparency of the blockchain to ensure that all transactions are conducted fairly and without the risk of default. This feature is particularly appealing to users who want to maximize their trading opportunities without locking up additional assets as collateral.

Pichi Finance's integration of the ERC-6551 standard also means that NFTs can interact with other decentralized applications (dApps) and protocols within the Ethereum ecosystem. This interoperability enhances the functionality of NFTs, allowing them to be used in a variety of ways beyond simple ownership. For example, an NFT could be used as collateral in a lending protocol, participate in governance decisions, or even earn rewards in a staking program.

The technology behind Pichi Finance is not just about enhancing the functionality of NFTs; it also aims to create a more inclusive and accessible financial ecosystem. By enabling trustless trading and eliminating the need for intermediaries, Pichi Finance lowers the barriers to entry for users, making it easier for anyone to participate in the DeFi space. This democratization of finance is a core principle of the blockchain movement, and Pichi Finance is at the forefront of this revolution.

The ERC-6551 standard, with its ability to transform NFTs into smart contract wallets, represents a significant advancement in blockchain technology. It not only enhances the value and utility of NFTs but also paves the way for more innovative applications in the future. Pichi Finance's adoption of this standard demonstrates its commitment to pushing the boundaries of what is possible in the world of decentralized finance.

What are the real-world applications of Pichi FInance?​

Pichi Finance (PCH) stands out as a trustless points trading protocol, leveraging the ERC-6551 standard to facilitate various real-world applications. This cryptocurrency allows users to trade points from different protocols, providing a platform for price discovery on tokens both before and after their Token Generation Event (TGE).

One of the core applications of Pichi Finance is its ability to enable users to trade points from pre-token projects. This means that before a project officially releases its token, users can already engage in trading activities, which helps in determining the token's potential value. This pre-TGE trading is crucial for investors and project developers alike, as it offers insights into market sentiment and potential demand.

Pichi Finance also allows users to earn points through deposits. By participating in the ecosystem, users can accumulate points, which can then be traded or used within the platform. This incentivizes active participation and engagement, fostering a vibrant community around the protocol.

The PCH governance token plays a significant role in the ecosystem and project growth. Holders of PCH can participate in governance decisions, influencing the direction and development of the platform. This decentralized approach ensures that the community has a say in important matters, promoting transparency and inclusivity.

Another innovative aspect of Pichi Finance is its use of the ERC-6551 standard, which allows NFTs minted within the platform to function like self-custodial wallets. These NFTs can own assets and points, and they can be traded on the Pichi marketplace without the need for collateral. This feature enhances the utility of NFTs, making them more versatile and valuable within the ecosystem.

Pichi Finance also offers a marketplace for points via NFTs, providing a seamless and trustless trading environment. This marketplace allows users to buy, sell, and trade points associated with various projects, further enhancing liquidity and market efficiency.

The combination of these features makes Pichi Finance a multifaceted platform with diverse applications, catering to both traders and project developers.

What key events have there been for Pichi FInance?​

Pichi Finance, a trustless points trading protocol leveraging the ERC-6551 standard, has made notable strides in the cryptocurrency space. The platform allows for price discovery on tokens both pre and post-Token Generation Event (TGE), and its utility token, PCH, plays a central role in its ecosystem.

One of the pivotal moments for Pichi Finance was the launch of their trustless points trading protocol. This protocol enables users to trade points without the need for collateral, enhancing the efficiency and security of transactions within the platform. The introduction of this protocol marked a significant advancement in the way digital assets are traded, emphasizing the platform's commitment to innovation and user trust.

Another major development was the introduction of ERC-6551 Accounts. This standard allows Non-Fungible Tokens (NFTs) minted on Pichi Finance to function like self-custodial wallets. These NFTs can own assets and points, which can then be traded on the marketplace in a trustless manner. This feature not only adds a layer of utility to NFTs but also integrates them more deeply into the Pichi Finance ecosystem, offering users more flexibility and control over their digital assets.

The ability for users to withdraw tokens from their Pichi Wallet was another significant milestone. This functionality ensures that users have full control over their assets, reinforcing the platform's trustless nature. By enabling token withdrawals, Pichi Finance enhances user autonomy and security, which are critical components in the decentralized finance (DeFi) landscape.

Securing significant funding was another key event for Pichi Finance. This financial backing has allowed the team to continue making updates and improvements to their platform, ensuring that it remains at the forefront of technological advancements in the blockchain space. The infusion of capital has also enabled Pichi Finance to expand its offerings and enhance its infrastructure, providing a more robust and user-friendly experience.

Throughout its journey, Pichi Finance has consistently focused on enhancing its platform and expanding its capabilities. The successful launch of its trustless points trading protocol and utility token, PCH, along with the introduction of ERC-6551 Accounts and the ability for users to withdraw tokens from their Pichi Wallet, are testaments to the platform's ongoing commitment to innovation and user empowerment.

Who are the founders of Pichi FInance?​

Pichi Finance (PCH) stands out as a trustless points trading protocol leveraging the ERC-6551 standard. This innovative approach allows NFTs minted in Pichi to function as self-custodial wallets, enabling them to own and trade assets and points without collateral. The masterminds behind this project are David Zhu, Eric Zhu, and Wesley Tang. Based in Singapore with a presence in Hong Kong, these founders have played pivotal roles in shaping Pichi Finance's unique capabilities. Their backgrounds and other ventures remain less publicized, focusing attention on their contributions to the cryptocurrency space through Pichi Finance.