PearDAO x BNB Chain Community AMA Recap

10 min readApr 9, 2022

Introduction of PearDAO

Thank you everyone for joining us in this event, we are PearDAO, a DAO managed decentralized marketplace. PearDAO has recently received an investment from the BNB Chain Fund, we are also a project that is in the MVB Labs incubation program. We are glad to be speaking with the BNB Chain Community today.

We encourage the freedom of exchange and we aim to provide a free, open and autonomous trading environment for all users.

Unlike Exchange 1.0 which is register-based and controlled by centralized server, or Exchange 2.0 where anonymous users trade on the chain with an automated market makers mechanism and are only limited to on-chain assets, we want to bring users a new era, which is a trading platform governed by DAO for assets both on and off-chain.

With PEX, we encourage trading based on the user’s mutual trade agreement. Anyone who intends to sell their digital assets can simply search for an existing buy advertisement (Ad) on the platform and establish a trade with the counterparty. If there is no suitable match, the user can post an Ad and wait for a counterparty to place a trade offer. This trading process works the same for users who want to buy digital assets online. Exchange of any assets can be completed by just searching or posting Ads on the Pear platform.

However, this is just a small part of our whole blueprint, we will be launching many more types of marketplaces in the future. Eventually, users can skip the fiat on and off-ramp process, and just buy and sell anything they want, they can pay with fiat, tokens, NFTs and even offer services in exchange for other types of assets.

In summary, our vision is to create a marketplace that allows anything and everything to be traded. Happy to be with you guys today.

Q1: What was the main reason that you and your team want to work on a decentralized marketplace?

A1: Well, there are various reasons that the team wants to work on a totally decentralized marketplace for the people. We’ve witnessed a lot of marketplaces with the concept of being decentralized.

But most, if not all of them are partially decentralized. This means users still have to register with the platform, and the marketplace is regulated by one centralized operator which stores data on one centralized data server.

With a fully decentralized marketplace, no data is being kept by the platform. All trading records are being recorded on-chain. Using just a wallet, users are free to trade whatever they want, and trade for the things that they think are valuable.

Interestingly, we came across CZ’s Twitter post a few days ago. He was complaining about the troubles and hassles he had just to pay to read some news articles — with a credit card. That is the type of problem that we want to eradicate in the future, which is to provide a seamless transaction process for users from any part of the world.

Q2: Compared to other types of platforms, what do you think are the main advantages of PearDAO

A2: Just last year, we saw Amazon restricting users from listing new products which have a higher price than their competitors — a move to make the marketplace more competitive in the e-commerce space. To a certain extent, this is a reasonable move because they want to stay more competitive. But this sets as an impediment to the freedom of trade. Freedom is the reason people are adopting cryptos. In our view, people should decide on what they want and should trade in an online marketplace.

With regards to crypto exchanges, I think one of the main advantages we have is that we are fairly new. We are building with a clear goal in mind. We chose to work on one of the toughest jobs first so we do not leave any technical debt behind. We could take the easy way out. Or we can skip all those centralized processes and work on the things no one wants to work with, which is a fully decentralized marketplace that prioritizes users’ privacy and assets’ safety.

We keep everything decentralized and grow together with our DAO members.

Q3: Can you tell us more about how the DAO (community) is helping to build the pear marketplace?

A3: No one knows which is the best type of marketplace in the future. The people know what’s best for them. We do not dictate the future of PearDAO, it is a gradual process and we can only achieve our goal by building together with the community.

We will build the foundation and basic infrastructures of the marketplace, DAO members will assess the needs of the marketplace, including some of the issues that have yet to be resolved.

Next, together with the DAO members, we will plan and prepare for the desired outcomes and how to maximize the overall efficiency of the solutions. This will be done through DAO proposals and votes.

They will be able to determine what type of assets should be traded on the marketplace, what kind of payment methods should be used, and risk mitigation strategies that should be adopted.

DAO members will have a chance to share their reflections with other members of the PearDAO community. Sharing what they’ve learned, and what could have been done better.

Lastly, they will apply what they have learnt to new applications, thus allowing the Pear Marketplace to expand and formulate new types of trading experiences.

This will be achieved together with our DAO members

The difference between PearDAO and other platforms is that DAO members can influence both governance and operational part of the marketplace, I encourage anyone who is interested to take a look at our documents after the AMA.

Pear DAO Governance

Governance or Operational. Governance change will impact the strategic management of Pear, while Operational changes…

peardao.gitbook.io

Q4: Can you let us know more details about the PEX token and the NFT series that you guys are working on?

A4: PEX Token is the core of the Pear ecosystem. Users can farm, earn, pay and use it for governing purposes. We have released our Pex-BNB LP Token pool, Pex Token pool for all users to farm more PEX, these pools do not have any lock-up period.

There are various ways to pay using PEX token, I encourage all users to check out our website to find out more.

https://peardao.io/#/pex

For our NFT, we released our Genesis Pear Ticket months ago. It has performed beyond our expectations as last week, we saw our NFT came in 2nd on the TofuNFT marketplace among all other BNB ChainNFTs, in terms of the 7D trading volume.

Our free airdrop NFT reached a floor price of 5BNB and it is now still at around 2.5BNB per NFT. Users can stake their NFT to earn PEX tokens for now.

But in the future, there will be more functions and utilities for these NFTs.

There are plans to release more types of tickets in the future. Possibly in collaboration with a major exchange. There might be rarities for these tickets as well. We are always fascinated by different types of NFT reveals. Again, we listen to our communities and we hope that together with the community, we can create the best marketplace in the future. So anything is definitely possible.

Q5: Can you elaborate more on the trading reward and what are some of the use case scenarios?

A5: Apart from p2p trading of centralized exchange, we realized there are a lot of users trading offline. To them, it is much more convenient since they don’t have to convince other users to register on the same exchange that they have an account with.

But at the same time, it creates a lot of problems such as sending fake cryptos or sometimes not sending the crypto after they have received the payment. Pear marketplace currently offers a solution to this problem. All cryptos that are available on the marketplace will have their contract addresses verified, and users can easily trade with each other by placing an order.

Once the order has been placed, the crypto for sale will be escrowed on-chain, and it will only be released once the seller has confirmed the payment. If there are any issues with the buyer’s payment or the seller is unwilling to release the crypto, they can submit an appeal which will be handled by other DAO members.

Since the start of our trading reward last week, so far we have more than 3 million in USD value traded on the Pear marketplace and we have not seen any fraudulent trading behaviours from the users. We’d like to maintain this track record and at the same time, we are working with projects like Chainlink’s VRF to provide cryptographically secure randomness to the appeal handling process and to make sure the appeal results will not be manipulated.

Q6: Tell us more about the marketplace’s future plan

A6: Pear Marketplace currently supports exchanging off-chain and on-chain assets on the BNB Chain.

Cross-chain compatibility, NFT marketplace, DAO governance capability, and offering in marketplace goods and services will be the next step for PearDAO. Beyond that, identity would be extremely important for Pear and Pear users.

We will tackle the problem of the decentralized nature of the marketplace. We are working on the trust score system and we will be utilizing the NFTs to make sure all users trading on the marketplace can identify trader partners with excellent and positive trading behaviours.

Q7: Last question. Are you guys currently working on any new features? Possible to give us some exclusive leaks?

A7: We have finished with most of the features and functions for our Q1 roadmap. Right now the team is working on DAO governance capabilities through the PEX token and Pear NFTs. We will be listing our first non-stable coin to be traded on the marketplace, we would like to know which is the coin that the community wants the most — I guess it will probably be BNB :).

At the same time, we are working on the Tokenomics of another type of token. We are still at the planning stage, nothing has been settled yet, but it is definitely something we may need to facilitate tradings on the marketplace in the long term.

We are only at the very beginning of our project, and we are very excited to see the recent growth that has been achieved together with the community.

Today, we are sharing something special with the community. We plan to release the NFT series — Seed, together with other types of tickets. This is still a work in progress but we can’t wait to share it first. Take note that this is not the finalized version. The relationship between tickets and seeds will be shared in the future.

Hope you guys like it. Thank you!

Community Q & A

Q1: What are your plans for global expansion? At this time are you focusing on the market or focus on building and developing or getting customers and users, or partnerships??

A1: Right now we are focusing on p2p trading. And based on our research, P2P trading is extremely popular in LATAM, Asia and MENA regions. We will be exploring the market in these regions first. With the initial round of funding from the BNB Chain, I think there are a lot of ways for us to help with the crypto transaction and more importantly, BNB Chain and crypto adoption. In a decentralized way, we want to provide users with fiat on and off-ramp services.

Q2: What are your top 3 things for priorities in 2022? Could you share some plans for the upcoming year?

A2: DAO governance, Defi 2.0 and Cross-chain compatibilities. Once the DAO governance feature begins, we will speed up our expansion. As a DAO, what really matters is what the community feels about the project, and we want to make sure that they are aware of where the project is leading. Hope that answers your question.

Q3: ✅ Seeing the requirements for posting ads, buying and selling make me think that PearDAO is intended only for people experienced in the subject of DeFi and the provision of liquidity. What about people who are just starting in this world? They don’t know something as complex as providing liquidity and betting LP tokens

A3: We fully understand this and I think this is a great question. The reason we are setting an LP token requirement for purchasing crypto assets on the platform is that we want to prevent fraudulent trading behaviours. You are right that in the current stage, new users will feel that it will be relatively difficult to try on the platform. I think that is the reason we have started our Guardian program and global community channels. We start off with educating users about crypto and Pear. If anyone is new to crypto, we do not suggest they use it immediately, they should have the basic knowledge and do some research first. #SAFU is the most important factor in the crypto industry.

Q4: Most users only care about immediate benefits rather than the real value of the project in the long term. How can Your Project convince users to invest to in your platform in the long term?

A4: We try our best not to convince users to “invest” in our platform. To us, monetary investment is not really that important. We want to look for long term support who will be with us for a long time, and for a great time. Like the Peartree, it starts from a seed and grows into a tree. The most rewarding moment is when the tree bears the tasty fruit for the farmers. You don’t have to invest in our Token to be part of the community. And we definitely welcome anyone to be part of the team and achieve the freedom of trade together with the team.

Q5: Does ur NFTs have any rarities

A5: Genesis, Moon, Diamond, Gold and Paper. These are the rarities for the tickets. There will be different rarities for the seed, and the final reveal of the seed.