❓FAQ

How do I get involved in the PikuDAO?

Getting involved with PikuDAO can be achieved through various means. These are:

• Joining the Discord to participate actively within the community.

• Following up our Governance Forum to discuss and support best ideas on the future direction of Piku

• Claiming its governance token $Piku to have a voice in the governance process.

How is the yield distributed?

Piku's goal is to eliminate the barriers to entry to yields offered in the DeFi space. To do so, Piku is designed to be as simple as possible. Instead of adding extra steps like manual claiming or calculations, all the yield generated will be accumulated inside Piku's value. In other words, all the yield generated will be natively added to backing, thereby increasing Piku's value against US-dollars, protecting against inflation.

How is USP inflation-protected?

At its core, USP is designed to be a yield-optimized stablecoin, which means it not only retains a stable value relative to traditional currencies like the US dollar but also incorporates mechanisms to generate yield, enhancing its value over time in a way that's protected against inflationary pressures. This design not only counters the erosive effects of inflation but also potentially increases the purchasing power of Piku holders over time.

How is $USP a stablecoin?

Initially backed by a reserve of USDC at a 100% ratio, ensuring a stable launch value of $1.50 USD, $USP's value will only increase as the backing-assets continue to generate yield. Reserve backing of $USP will be visible on-chain and off-chain to ensure price stability.

What is the difference between $USP and USDT (Tether) or USDC ?

USP differs from traditional fiat-backed stablecoins like USDT and USDC in several key ways. First, USP is designed to generate and transfer the yield captured directly to its holders. The yield generated from the assets backing USP is added back into the reserves, gradually increasing Piku’s value over time. In contrast, holders of USDT or USDC typically need to engage in staking or lending their tokens on DeFi or CeFi platforms to earn yield, and the profits generated from the reserves held by issuers like USDT and USDC are not passed on to token holders.

Additionally, while USP shares the characteristic of being fully backed by reserve assets similar to USDT and USDC, Piku has a decentralized governance structure. USP is managed by PikuDAO, which offers decentralized and transparent governance, allowing Piku Governance Token) token holders to participate directly in decision-making processes. PikuDAO has the power to decide on the backing structure and risk levels of USP backing. In centralized stablecoins like USDT and USDC, these decision-making processes are closed and run by the few.

Can everyone signup and use $USP?

USP token is designed to be permissionless and can be exchanged between anybody. However, during phase 1, only Non-US individuals and businesses can mint and redeem USP.

How secure is the Piku Platform and governance?

PikuDAO places the highest importance on the security and safety of transactions to fulfill the mission of the Piku ecosystem. To ensure this, the founding team collaborates with experts and third-party auditors to verify that all smart contracts are robust and secure. This includes conducting regular reviews of the code to maintain the highest security standards.

Moreover, our governance model is crafted with transparency and fairness at its core. Initially, it incorporates mechanisms such as escrowed voting and set thresholds for participation. The execution of DAO decisions on-chain will be managed through multisignature wallets, overseen by the founding team, to provide an additional layer of security. This setup will remain until the DAO collectively decides on a new course of action.

Will there be a Piku airdrop?

Piku ecosystem will be owned by its users. Piku Governance tokens, Piku's, will be distributed to the community of Piku users. While Piku users generate yield by holding USP, they will also be rewarded with Piku governance tokens.

What currencies I can use to mint and redeem $USP?

All minting and redemptions happening on Piku Protocol will be done with USDC during phase 1. The DAO can vote to add or remove currencies in the future.

Can I redeem USP tokens Immediately?

Piku platform and contracts are designed to be efficient. Redemptions request up to a certain amount will be processed immediately. However in times of high traffic or large redemptions requests, Piku smart contracts might create a que system to process redemption transactions in the order of first-come-first-served basis