Pichi and Mantle, the L2 Ethereum community, have lately teamed up for a strategic partnership. This partnership will intention to reinforce worth discovery earlier than and after the Token Technology Occasion of cash.
The Mantle Ecosystem contains an Ethereum layer 2 (L2) Community, a decentralized autonomous group (DAO), Mantle Governance, one of many largest on-chain treasuries, Mantle Treasury, and an Ether (ETH) liquid staking protocol, Mantle LSP—all constructed on Ethereum.
We’re excited to introduce our chain integration with @0xMantle and speed up our imaginative and prescient of permitting for worth discovery of tokens pre & post-TGE, to all!
Mantle customers can now deposit mETH, USDe, sUSDe, YT (mETH, USDe) to earn Pichi Factors & commerce factors in Pichi’s Market… pic.twitter.com/kH5cEXleuR
— Pichi Finance (@PichiFinance) August 26, 2024
Pichi Finance is the primary trustless factors buying and selling protocol, enabling customers to commerce factors from their favourite protocols earlier than TGE. Conventionally, factors are saved off-chain and tied to pockets addresses, limiting their tradability on an open market. Customers can create a Michi Pockets NFT and deposit tokens to earn factors into the ERC-6551 pockets. As soon as factors accumulate within the pockets, customers can withdraw the points-earning tokens and promote the Michi Pockets NFT, successfully promoting the accrued factors.
About TGE & How Pichi Facilitates Token Discovery
Token Technology Occasion is the interval when a blockchain start-up points tokens and makes them out there to the general public (as an example, by way of preliminary coin choices). These tokens are designed with utility in thoughts and initially solely signify a small portion of the completed product. Though they lack a price retailer, they’re designed in order that functions could also be constructed round them.
One of many issues with TGE is the value discovery earlier than and after it occurs. Many customers need assistance discovering the precise worth of a token. Pichi permits for worth discovery of tokens pre & post-TGE to everybody.
With this new collaboration, Mantle customers can now deposit mETH, USDe, sUSDe, and YT (mETH, USDe) to earn Pichi Factors & commerce factors in Pichi’s Market simply. Michi Protocol allows customers to earn factors securely whereas having access to a liquid marketplace for buying and selling these earned factors.
