From birth to death, the transitory ETH DeFi project YAM only lasted for 37 hours, leaving people shocked and sighing. However, after a close analysis, what actually destroyed YAM was not its concept: the combination of Ampl economic model, YFI distribution, and Compound governance, but a code safety loophole. Hence, following the concept of YAM, Pearl.finance was created as an equivalence of YAM on TRON. Now let’s take a look at a brief project introduction of Pearl.finance and its user guide on TP Wallet.
What is Pearl.finance?
Launch on August 25th, Pearl.finance is a “YAM” project on TRON developed by TronFi team. The project will carry on the YAM spirit in its issuance and promises that there won’t be any pre-mining, crowdfunding, or rewards for the project team.
15K PEARL will be distributed in the first round, supporting three staking pools: USDT(7500), JST(2500), and DZI(5000). In the second round, 30K PEARL will be distributed through the PEARL-USDT zSwap LP token staking pool. Each round of token distribution will last for one week, whereas the remining PEARL are locked in the contract, and managed by PEARL holders. For example, voters can decide to increase the number of distribution pools.
TronFi revealed that two hours after the launch, Pearl.finance has seen more than 26M in the JST pool, and 300K in the DZI pool, with a total value of $1M.
PC users can start farming on its official website: pearl.finance and mobile users can enjoy better and more convenient access to Pearl.finance through TP wallet.
How to use Pearl.finance through TP Wallet?
- Open TP Wallet and select TRON as the underlying asset. Tap on [Discover] and search for Pearl Farmer. Or you can find it in “New”.
2. It can be seen on the main page that the total supply of PEARL is 15K. In Farm section, you will notice that USDT is not available so far. JST and DZI are open already.
3. Take JST farming as an example. Tap on [Select] and enter JST staking pool. There are three major functions: [Harvest] is to claim the PEARL mined, [Approve JST] is to grant approval to adding JST token. After the approval, tap on [Stake] to set the deposit amount. When exiting the staking pool, tap on [Harvest & Unstake]to claim the rewards and withdraw the JST staked.