Everything you need to know about PEAKDEFI
Launched in December 2020, PEAKDEFI is a decentralized financial application built on the Ethereum network. PEAKDEFI’s mission is as follows, “to enable everybody on the planet to grow their wealth, no matter what position they are in at the moment.” PEAKDEFI aims to create a name in the Defi space with its simple to use user interface, as well as a simple and easy set up process. The platform gives users plenty of ways to make their money work for them and their smart contracts are audited and secured by QuantStamp.
PEAKDEFI has two main ways to generate passive income off crypto assets.
1. Users can stake PEAK tokens or 2. they can stake their own crypto on the platform.
While each staking method comes with its risks involved, the platform is sure to make these risks known to the user. The platform has a disclosure located at the bottom of the home screen. Currently, the platform has $513,118 Assets under management and 19,377,075 PEAK staked.
Peakdefi is designed for those who are familiar with the DeFi space. Those who are new to DeFi may find the platform intimidating and can be complicated. New users to the platform should read background information prior to investing on the platform. An good resource to understanding how to stake PEAK on the platform can be found here: https://www.stakingrewards.com/journal/how-to-stake-peakdefi
Those looking for resources regarding PEAKDEFI can go to https://www.stakingrewards.com/earn/peakdefi and find many resources that will help prospective users get an idea how to navigate the website. The Staking Rewards website gives overviews, metrics and calculators so users can calculate the potential earnings they may receive if they stake PEAK. However, these calculators are not a guarantee of any earnings and no advice or information on the website should be taken as financial advice. Content is written for educational purposes only.
Currently, PEAK has a market cap of around $44M. The average 24 hour volume of PEAK is around $400k. The circulating supply is 110,518,899 PEAK and a total supply of 545,540,359. 200,000,000 PEAK of the non-circulating tokens are being held by Team & Founders still. It remains unclear if these are currently transferable.
PEAKDEFI has its own native token that can be staked on the platform. PEAKDEFI, using the abbreviation PEAK, is available on several token exchanges. The two notable exchanges that support PEAK swaps are Uniswap and 1inch. Uniswap offers Ether to PEAK and USDC to PEAK swaps. While 1inch offers only Ether to PEAK swaps. At the current time of writing, 1 PEAK token is $0.4085 USD. The PEAK token has an all-time low of $0.07503 and an all-time high of $1.09. The PEAK token is how interested parties can get involved with the PEAKDEFI project.
For example, if someone were to stake 1000 PEAK, they would be entitled to several different rewards. There are several key factors to PEAK rewards. Firstly, there is a bigger bonus of 0.0003%, the more you stake, the more return you will get. Secondly, there is a longer bonus of 1.5055%, the longer you stake, the larger your APY. Early investors are also entitled to a 95.7006% bonus for staking. PEAKDEFI offers APY rate of 52.5978% as well as PEAK rewards of 14.4103 PEAK. Users looking to calculate their PEAKDEFI rewards can use https://www.stakingrewards.com/earn/peakdefi and calculate their specific earnings.
The PEAKDEFI platform connects to three different wallets. PEAKDEFI has their own native wallet application. PEAKDEFI can also connect to Metamask wallets as well as WalletConnect.
The PEAKDEFI Crew
PEAKDEFI has a six person team that is leading their efforts into a decentralized finance platform. Sergej Heck is the project’s Initiator with experience in cryptocurrency, marketing and blockchain technology. He is the owner of two cryptocurrency resources, blockchain-hero.com and coinkurier.de. Sergej Heck leads the team of cryptocurrency experts and blockchain engineers consisting of a Tech Developer Lead, Marketing Lead, Solidarity Engineer, as well as an IOS Developer and Android Developer. Their team of cryptocurrency experts as well as their blockchain expertise, makes PEAKDEFI a strong Defi project for those looking to stake crypto or stake the native PEAK token.
Becoming a Fund Manager
Any user can become a Fund Manager. In order to become a Fund Manager, there are several steps one needs to take. To begin, you must purchase 100 Reputation Tokens for 100 USD total. You can only purchase Reputation Token once. Reputation tokens cannot be rebought or sold. Additionally, you must stake 1000 PEAK. In total, users looking to become a fund manager should plan to spend 400 USD.
As a Fund Manager you are able to trade using the PEAKDEFI platform. The platform has a native system that assures that traders are held accountable and assures that the best traders are rewarded. When you begin a trade, you stake a portion of your PEAK. When traders make a bad trade, and lose 10 percent of their initial investment, you lose the PEAK that you have staked. If a trader loses more than 25% of their initial investment, they lose all their PEAK and are unable to trade on the platform again. This assures that only the best traders are able to trade on the platform. When traders make good trades, they are rewarded with more Reputation Tokens. The Reputation Token is a The more Reputation Token a user has, the more they are able to trade. As more and more traders join and use the platform, this assures that the fund is managed by the best traders.
Fund managers on PEAK would be users looking to actively trade on the platform. Fund managers should be actively watching their dashboard and look to make successful trades so they do not lose their staked PEAK. Investors are looking to stake on the platform and hold their PEAK tokens for a while and not buy or sell. Fund managers should be those with experience trading cryptocurrency and investors are those looking to hold cryptocurrency long-term and invest in the PEAKDEFI project.
The Manager Dashboard
Fund managers are able to track their trading performance using the manager dashboard. The manager dashboard has many different metrics that users can use to track their performance as well as understand their risks. The dashboard presents the Annual Percentage Yield (APY) of the fund through that year. The price change of the fund is also available and presents the fund’s change since its inception. The dashboard also shows the assets under management and the current value of the entire fund. Also available on the dashboard is the maximum drawdown, that is the maximum historical downturn of the fund. The maximum drawdown presents the risks associated with the fund, so users are aware of the risks. The standard deviation seen on the dashboard presents the volatility of the fund.
On the dashboard, users are able to monitor their trades as well as review their trade history on the platform. On the ranking section of the dashboard, managers are able to compare their trading ability and success with other fund managers on the platform.
Risks Associated with Fund Management
As is the case with any investment, by depositing funds onto the platform, users expose themselves to a certain degree of financial risk. By its very nature, the fund management system is designed so that if a trader is not a good trader, he or she will be unable to make future trades. If a trader is not careful, they may completely lose their ability to trade completely. Furthermore, they lose both PEAK and Reputation Token if they make a failing trade, which further increases the risks that traders assume. Anyone looking to trade on the PEAKDEFI platform should study all associated risks, as is the case with any cryptocurrency project. Users looking to increase their understanding of the risks that come with any investing project have two main resources on the PEAKDEFI website. First, users can see the disclaimer located at the bottom of the home page. Additionally, users can read the Terms and Services of the platform, located on the website.  As is the case with any cryptocurrency project, DEFI or not, placing your funds on a platform means you trust the platform with your funds. Only deposit funds into a platform that you truly support, trust, and believe in.
Connected Protocols facilitating trades
PEAKDEFI is connected to four main protocols. These four being Kyber Network, 1inch, Uniswap, and Compound. These four protocols can interact smoothly and allow for users to transfer funds from the different protocols. Connected protocols help users smooth transfer funds from an exchange such as Uniswap and 1inch, into the platform. Users can also hold their funds on Compound and transfer the funds smoothly from Compound or the Kyber Network into the PEAKDefi platform.
These connected protocols make it simple to transfer your existing funds that may be on Compound receiving interest or your funds that were recently swapped on Uniswap, and easily transfer them to the platform with ease.
Critics have been quick to note that PEAKDEFI is no stranger to controversy. Sergej Heck, the current leader of the project has started a failed DEFI project in the past. BeOnPush, a project he started, failed in 2017 and the story surrounding the situation are still misunderstood with different sides giving different accounts of the story. The former name of PEAKDEFI was MarketPeak with nearly an identical platform and DEFI model as well as an identical logo. Currently, the project is based in Dubai, UAE, and many are concerned with the potential of PEAKDEFI collapsing like Heck’s previous projects. As usual, all DEFI projects, particularly new ones, come with a host of risks and only those who are willing to take those risks should plan to purchase PEAK. Those who are uncomfortable with the risks should avoid PEAKDEFI project until they have done enough background research until they are comfortable investing in such projects.
Users looking to use PEAKDEFI should be aware that as a new platform, risks are associated with putting your funds into a platform. Whether that is a centralized or decentralized platform. As always, do your own due diligence before investing on a platform. As a new project, PEAKDEFI has a lot of potential to create a strong user base in the DEFI community. DEFI users as always should look to try out different platforms, and observe which ones best fit their needs, requirements and their specific use cases. While this project does have a staking feature, what sets PEAKDEFI apart is its ability to trade on the platform and be rewarded for your successful trade. Experienced cryptocurrency traders should definitely consider PEAKDEFI as a viable option when looking to be rewarded for trading. As the DEFI space continues to grow and expand, attracting more and more users, DEFI projects such as PEAKDEFI will be able to expand their staking rewards, increase trade rewards, and offer more rewards as the cryptocurrency space continues to grow. PEAKDEFI is a strong project with a team that supports different aspects of the project, a strong support staff and a dashboard and platform that makes it an attractive choice for cryptocurrency investors.