Pichi Finance Revenue and Competitors

Pichi Finance is the first trustless points trading protocol, enabling users to trade points from their favorite protocols before TGE. Conventionally, points are stored off-chain and tied to wallet addresses, limiting their tradability on an open market.\n\nMichi Protocol provides significant design improvements to the process of trading points by leveraging ERC-6551 Accounts (also called Tokenbound Accounts). These are wallets owned by NFTs and selling the NFT entails transferring ownership of the associated wallet along with any accrued points.\n\nUsers can create a Michi Wallet NFT and deposit tokens that earn points into the associated ERC-6551 wallet. Once points accumulate in the wallet, users can withdraw the points-earning tokens and sell the Michi Wallet NFT, effectively selling the accrued points.\n\nThis model provides several advantages:\n- No collateral is required from the buyer or seller; the sale process mirrors that of trading an NFT.\n- The trading process is completely trustless.\n- Once the sale is accepted, the trade is guaranteed; the seller cannot retract from the sale and the buyer receives full custody of the points in question.\n\nMichi Protocol enables users to earn points securely while gaining access to a liquid market for trading these earned points.