The Palace Finance serves as the backbone of a rapidly growing ecosystem aimed towards bringing liquidity and new use cases to the Arbitrum network. The protocol's underlying mechanism dynamically adjusts $PETH's supply, pushing its price up or down relative to the price of $ETH.
Inspired by the original idea behind Tomb, Palace Finance is a multi-token protocol which consists of the following three tokens: - pETH ($PETH) - LKEY ($LKEY) - pBOND ($PBOND)
⚡What differentiates Palace Finance from other algorithmic protocols?
Unlike previous algorithmic tokens, $PETH is not pegged to a stable coin— it is instead pegged to $ETH.
Why is this?
Palace Finance believes in the potential of Ether, and has chosen to align its mission to both provide value to and derive value from $ETH's future growth. $PETH aims to become the main medium of exchange on Arbitrum: this will be achieved by providing a mirrored, liquid asset to $ETH. One of the primary shortcomings of past algorithmic tokens has been a lack of use cases, leaving no good reason for somebody to want to use or hold them. In order to successfully maintain the peg in the long-run, the Palace team will maintain a focus on innovation around enhanced functionality and use cases.
Defi marketing manager
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