Frequently Asked Questions

Please explain your token

The Peak ecosystem consists of three tokens. three tokens that only work in relation to each other :) The ecosystem needs all three tokens to function. They each have a unique role to play and to participate fully you will want to be implementing strategies using all three.
The $PEAK token is the asset that is Pegged, which means matched at a one for one value, to Metis. In doing this we bring more liquidity to Metis Andromeda and provide more means of transaction as well.
The $PRO token is a share token earned through the ecosystem via staking $PEAK and $METIS LP. The $PRO token helps maintain the Peg of PEAK through inflation. When PEAK is above the price of Metis, you can stake your PRO tokens to print more $PEAK tokens. This creates profit in PEAK for the $PRO holder and increases the supply of PEAK in the ecosystem. Thus, using inflation to bring the price of PEAK back in line with METIS and once again establishing a one-to-one Peg once more.
When the price of PEAK is below the Price of METIS, the Peak Treasury will issue $PONDS at the current PEAK price. You can purchase these $PONDS with $PEAK, which will burn the tokens used, reducing the available supply, and increasing the price of $PEAK again till it reaches Peg.
Once $PEAK is at or above peg with $METIS, you will be able to redeem each $POND for $PEAK again with the difference in price to generate that $PEAK as your profit.
The POND and PRO token work in tandem to maintain the peg value of the $PEAK token

Is this a Tomb fork? What are our key differences?

Well that is indeed a multifaceted question so I will try to address it the best way I can.
While our origins are as a Tomb Fork, this is not just a simple fork and let her rip attempt like several attempts that have been made on Andromeda, BSC, Avax, etc.
This is only the first deployment of an ecosystem of DApps that will all feed back into the utility of $PRO as a token that shares in the revenue from these DApps, and $PEAK as a currency to be utilized in interesting ways that we can't wait to share but have to keep close to the chest as there are a lot of fork-happy forkers at the minute!
Another difference is that we are doxed. The previous tomb forks were not. We also will have our dox verified and be backed by a very interesting source that you'll all be stoked by, but first we need to pass the audit, which is what we have commissioned today and expect completion by 28th March.
From there we launch the protocol and instead of the just letting the peg rip and go 60x without intervention the treasury will be utilized in the early stages to accrue $METIS in reserves by maintaining the peg, that will be used for supplying additional treasury (community) owned liquidity and as reserves should we need to drive the peg back up.

How are we different to the failed ones?

  1. 1.
    We are fully doxxed.
  2. 2.
    We are aiming to be endorsed by Metis.
  3. 3.
    Our full code repo is being double audited by two independent third parties Plus Metis team as we speak.
  4. 4.
    We are partnered with another Metis Partner Chain starters who are the professionals behind the development and are also fully doxxed.
  5. 5.
    We have a team of tokenomics professionals who have painstakingly gone over the original tokenomics and adjusted our protocol to Andromeda. We have considered everything from varying Standard deviation volatility issues between chains as come up with strategies to combat differences between the two assets of METIS and FTM

Why invest in Peak?

So there are tonnes of benefits to operating a seigniorage/inflation protocol as the monetary layer for all future ventures we will build on top.
Firstly, when the peg is stable, you are able to farm much higher APYs with next to no impermanent loss for staking $METIS-$PEAK
Secondly, we think of our existing monetary policy works, when demand outweighs supply the central bankers will press the button to put more into circulation (as we know, the problem is that they create artificial demand through world events, year of Covid US M2 supply increased by 30%).
Thirdly, we have significantly more utility planned for $PRO which is our share token for the protocol.
Typically, seigniorage share tokens are only useful to receive emissions during an inflationary epoch.
But we're looking to go a step further by DAOifying it (we want to DAOify EVERYTHING).
We are going to run an actively managed treasury that risks-on and risks-off to protect equity depending on market conditions, that is highly inclusive to community input, and profits from all activities go to a) grow the treasury b) back to $PRO holders in the form of buybacks. You're all coming along the journey with us, we'll share our alpha, what projects we're looking at getting in early stages on. Honestly so many things that we're looking to do, but first things first we need our own reliable monetary layer. Ergo — Peak Finance.
This is just the beginning. Once the monetary layer is stable and secure, we will be building a ton of cool DApps on top that will enable us to tap into revenue streams just within the digital world, but in the real-world too.

Why not just hold my METIS?

$PEAK will follow the price action of Metis so if you're Bullish on Metis then holding your Peak and staking it could definitely be a play. $PEAK will also be essential for the $PRO farming pools whereby you stake $PEAK-$METIS LP pairs :)

Does all the three tokens (PEAK, PRO, POND) have limited or unlimited supply?

Yeah so all you need in the beginning is $METIS.
Once you stake those you can get some $PEAK.
There won't be liquidity supplied until after the genesis pools event.
Then you unstake your $METIS, pair it with the $PEAK you received into the liquidity pool and stake that for two weeks to receive $PEAK.
During this time, those that missed genesis pools will have to buy in, however we will ensure the price does not get out of control and insanely above peg like the other 3 tomb forks that have come and gone. Proceeds from this will top up the treasury which is exclusively to a) protect the protocol b) to actively pursue investment opportunities that will come back to buyback and burn the $PRO token.
Once the 2 week phase is over to farm $PRO, you simply unstake your METIS-PEAK LP and then stake it into the $PRO farms.
So there is no need to purchase $PRO in the beginning. You just need to supply METIS-PEAK LP to get your hands on $PRO.
This will be instrumental for us to stake $PRO into the $PEAK printer that is only active when the price of $PEAK is greater than $METIS.
We will have a bunch of explainer videos in the lead up to all of these events to get us acquainted.
We'll also do a bunch of voice chats/screen shares on Discord.
So to directly answer your great Q:
- $PEAK is uncapped but supply fluctuates with the peg.
- $PRO has a maximum supply of 7,000,000 tokens. $PRO will be regularly burned through buybacks and will be the utility token for upcoming developments such as a Core Investment Treasury that links to the Peak Treasury, as well as a bunch of other super cool DApps we're looking to develop that play into it.
- $PONDS is not available on open market to trade. It is only available when the peg is below one. When purchasing $PONDS, you pay in $PEAK that is then burned from circulation. Once $PEAK is back above a peg of 1:1 the price of $METIS, then $PONDS are burned in exchange for $PEAK that accrues in the treasury.

How does the protocol make money?

The beginning stages the treasury will grow from peg management.
We've seen all these other tomb forks let their pegs get way out of control so invariably there are some that pay much higher to get amongst it.
We will grow the treasury from new entrants while keeping the peg under control so theyre not paying hyperinflated prices, those proceeds will grow the treasury that will future proof peg stability and be actively managed to pursue yield from outside of the ecosystem to bring all the profits back to $PRO holders.
We also have a huge focus on education, as you'd likely know there are right and wrong ways to go about maintaining the peg. We will advise when the best time to add into liquidity pools are (i.e. we're not going to tell people to supply liquidity if peg is 2x target peg as they'll just get hurt by impermanent loss), strategies that position everyone strongly in the long-term (compounding back into the protocol, and leaving $PEAK on-hand for when the opportunity to purchase bonds presents itself) .
When everyone plays their part we can all do what they did over at Tomb when $FTM was 30c — patiently compound and build positions, then when $FTM took off in price it dragged Tomb right along with it.
We definitely believe that Metis Andromeda is at the same stage that Fantom was when Tomb launched. A lot of upside to be captured.

Do you have any partnerships?

We will be releasing details on our first partnership in the lead up to launch. We also have three other Partnerships to announce after launch so some big things are on the way! Our $PRO token will have more utility than any other Fork out there :)

What is genesis pools?

Genesis Pools are a limited time liquidity mining event.
Stake $METIS for 48 hours and receive $PEAK.
From there, we unstake our $METIS, pair it into the liquidity pool with $PEAK for the second phase which is LP Staking (or, LP community bootstrapping).
After two weeks, we will have all been compounding back into the liquidity pool to position us well for the final phase of the protocol which is $PRO liquidity mining.
You will need to unstake $METIS-$PEAK from the LP bootstrapping phase, and then restake it into the $PRO liquidity mines. At this point, the $PEAK printer will also be switched on and emissions will be a factor of the peg. Inflationary emissions will only be accessible by staking $PRO.

How do I get started?

All you need to begin with on the $PEAK protocol is to stake your $METIS to receive $PEAK, 48 hour window!
There will not be liquidity provided until later with the initial genesis pools.
Then unstake your $METIS, pair it with $PEAK received into the liquidity pool and stake that for 2 weeks to receive $PEAK!
During this time, those that missed the genesis phase will need to buy in, as we will ensure price does not get out of control and go far off peg.
Proceeds from this will top up the Treasury which is exclusively for: To protect the protocol and to actively pursue investment opportunities that will come back to buy back and burn the $PRO token.
Once the 2 week phase is over to farm $PRO, unstake your $METIS/$PEAK LP, then stake that in $PRO farms.
There is no need to purchase $PRO in the beginning, supply $PEAK/$METIS LP to receive $PRO
This is instrumental as we stake $PRO into the $PEAK printer which is only active when price of $PEAK is greater than $METIS

How often would you estimate seigniorage opportunities to come by?

Seigniorage will likely occur after a period of inflationary emissions with people taking profits, which is to be expected, how long this goes for will depend on the aggregate strategy of the community. It really does take a community to make this work.
We will have videos forthcoming on sustainable seigniorage behaviors.
But, if the community compound $PEAK emissions into $PRO (share token) then emissions will likely continue and the value of $PRO grows.
Should there be a market-wide correction, which is of course outside of the control of every project, then it is likely people will risk-off. Though I would take that assumption with a grain of salt. $METIS had shown tremendous relative strength in the most recent market wide correction. There were days when METIS was the only thing in the green.
But at the highest level, profit-taking $PEAK back into $METIS or an asset outside the ecosystem will likely prompt the peg to go below one, thus creating a seigniorage opportunity.
Seigniorage is effectively purchasing debt for a later redemption at a premium. Once profit-taking takes place above peg there will likely be an opportunity when the peg goes below 1. Which will happen, it's a feature not a bug of the protocol, to purchase $POND to position yourself for redemption once the peg has recovered. Keeping in mind that people can sell $PEAK when the peg is below 1, however if you do so you're shooting yourself in the foot big time by absorbing an instant loss relative to $METIS.
When the peg is below 1 we advise that people do not sell $PEAK, but rather look to purchase $PEAK, burn it for $POND, and receive $PEAK at a premium when back above peg.
Similar projects are of course Tomb Finance, which Peak Finance is a modified fork of.
In terms of a benchmarks as a reference point, their share token, $TSHARE, reached around $24k if I'm not mistaken. $PRO's supply is a factor of 100x the supply of $TSHARE. I won't speculate on the possible price beyond that, but you can see the potential for profits by looking at $TSHARE is quite lucrative.
However, it is likely that people will game the share token $PRO when the peg is about to go below 1. However we have 2 key points of difference.
1) $PRO has a transaction taxation applied to it for buys and sells. I made the case in a question listed up the page why it's a good idea for both a buy and sell tax on $PRO to grow the treasury, which effectively becomes peg-insurance for the protocol AND surplus capital to actively manage to pursue yield generating opportunities outside of our ecosystem.
2) Further to elaborate on the conclusion of the first point, we will be diversifying revenue streams that will go into buybacks and burning of the $PRO token. $PRO will have exposure to all revenue generated from future DApps. We want to remain laser focused on ensuring a stable launch of Peak Finance for now, but soon after launch there will be an announcement on planned utility for $PRO, likely to be made soon as ground is broken on development which we have our developer house itching to get going on it. But it will not be what anyone expects.
Those two key points of difference is why it is foolish for people to ape into the share token, and dump it on $PEAK to compromise the peg. Regardless of the overall performance of Peak Finance, these DApps that rely on these tokens for utility will go ahead, regardless. So if everyone plays the game for the long term and the revenue stabilizes the peg of $PEAK, which will be a payment currency in upcoming DApps, and $PRO, which will have exposure to revenue streams from future DApps, then there will be comparatively fewer seigniorage opportunities overall. This is good. The fewer the opportunities, the more valuable it is when $POND purchases become available.

Why did we go with 2 weeks of LP farming?

So two weeks is an adequate amount of time to community bootstrap liquidity. As we slowly accrue $PEAK rewards, we also slowly pair that with any idle $METIS that we have. The deeper the liquidity pools, the more resilient the peg. These two weeks are to have everyone well incentivized to build liquidity. Once the two weeks has expired, and the vast majority of people compound back into growing the $METIS-$PEAK liquidity pool, then we will have a stable peg. Ideally greater than 1.05, because then you will be ready to unstake your $METIS-$PEAK, and restake it in the $PRO farms. Once we farm $PRO, then we can gain access to the inflationary emissions when the peg is greater than 1.05 by staking $PRO to receive $PEAK. We will be publishing videos on sustainable seigniorage behaviors to give everyone an idea of what a sustainable long-term strategy looks like compared to a short-term cash grab which it is absolutely not. Those that cash out will cry later because they will have to see what we else we're building and realize they have made a mistake.

How will $PEAK be viable in a bear market?

The use cases for our DApps will have real world implications. $PEAK will be the required currency to make payments and access features of these DApps.
$PRO will capture value from revenue streams from treasury activities, where profits go back to $PRO holders, and there will be revenue streams from DApp activities going back into the $PRO token.
$PEAK will be vital for people to have a stake to receive $PRO.

Tell us more about the "ACTIVELY MANAGED TREASURY"

Peak Treasury is the MVP for an actively managed treasury which will grow increasingly more elaborate once we deploy the Prometheus Treasury that will link in to it.
Actively managed treasury means that we accrue funds through taxation (on the $PRO token) and we seek investment opportunities with those treasury funds.
Whether we are staking it in a yield generating instrument, like Anchor protocol for 19.5% APY return on $UST (good move when there is a market wide correction), or whether we are actively trading the market. Our team are risk-management pros, we were taught by the best at CCI and many of us went on to take interest in advanced trading strategies.
We will of course be deploying more DAO facilities over time to enable community participation in trading the treasury.
Also it is an actively managed treasury, in the sense that we will intervene if the $PEAK peg gets too inflated. This intervention will mean we are putting more $PEAK into the liquidity pools and holding $METIS in reserves. This $METIS never leaves the treasury. It will only be used if the peg drops below 1, and we've given everyone an opportunity to purchase $PONDS to help recover the peg.
By design, this protocol will lose peg from time to time. It's a given, but it's not something to be fearful of. Every crisis is an opportunity and in this instance being able to purchase $PEAK below pegged price gives you a discount to purchase whole $PONDS that can be redeemed at a premium once the protocol has restored peg. However if community activity alone is insufficient to restore the peg, then we will actively utilize $METIS in the treasury.
The sequence is effectively to recognize when the peg is over inflated, put more $PEAK into the LP, when peg gets back around 1:1 we will stake the $METIS accrued with $PEAK reserves to grow the liquidity pool.
This is why our launch phase now is so important to get right. But with larger reserves in the treasury the community have the relief of knowing that the treasury has their backs.

How much is the circulating supply?

$PEAK has no fixed circulating supply as it will change with expansionary and contraction epochs. The total $PRO that will be created is 7,000,000 tokens