Binance Smart Chain Integration — Tokenomics Update
When we launched PEAKDEFI the Ethereum Blockchain was the only solution which provided everything that was necessary for a decentralized fund. Although the interest from the community is very high in the fund and especially in the PEAK staking, the current tremendous gas fees prevent many Users from participating in the project. With the EIP 1559 Update on the Ethereum Blockchain the gas fees could normalize again, but it will take at least a few months and they won’t be as low as BSC´s network fees. We didn’t want to wait months, therefore we searched for an alternative and decided to integrate the PEAK Token including the Staking to the Binance Smartchain as a parallel solution, in addition to the Ethereum Blockchain. The Binance Smart Chain has recently experienced incredible popularity in the DeFi space because it has a lot of advantages:
-ultra low fees
-100% ETH Blockchain compatible
-low development expenditures
The Integration of PEAK to the Binance Smart Chain is a huge step to a more flexible and interoperable platform, which enables a lot more users to participate in PEAKDEFI.
In order to integrate the PEAK Token to the Binance Smartchain the PEAK Token Distribution has to be updated. As the hard cap of PEAK remains at 2 bln. PEAK the Tokenomics have to be splitted between both chains in the following manner:
The following numbers remain the same:
50% = 1 bln. PEAK remain reserved for Staking on the Ethereum Blockchain.
10% = 200 mln. PEAK remain reserved and locked for the Team / Founders on the Ethereum Blockchain.
0.1% = 2 mln. PEAK remain reserved for initial Liquidity on the Ethereum Blockchain.
The following numbers change:
Previously 15% = 300 mln. PEAK were reserved for (institutional) investors. But as PEAKDEFI has grown on it’s own immensely institutional investors are not necessary any longer. Therefore these reserved 15% will be provided for the PEAK Staking on the Binance Smart Chain.
Previously 18% = 360 mln. PEAK were reserved for the MarketPeak community on the Ethereum Chain. This will split up into 10% = 200 mln. PEAK for the Ethereum Chain (over 100 mln. were already minted) and 8% = 160 mln. for the Binance Smart Chain, whereas 1 mln. will be used for initial liquidity providing. The liquidity will be provided on PancakeSwap,
Previously 6.9% = 138 mln. PEAK were reserved for Yield farming on the Ethereum Chain. This will be splitted into 4.4% = 88 mln. PEAK for Yield farming on the Ethereum Chain and 2.5% = 50 mln. PEAK for Yield farming on the Binance chain.
All in all 300 mln. + 160 mln. + 50 mln. = 510 mln. PEAK will be reserved for the Binance Chain while 1.49 bln. PEAK will remain on the Ethereum Blockchain.
We are very happy that this solution will enable Users with small amounts to participate in PEAKDEFI, too, as this Project was created to shape the future of everyone no matter what position they are in at the moment. And remember, the more decentralized a network is and the more token holders there are, the more secure the network is. We are trying to keep whales out of our network as much as possible, for a better decentralization.