
What is PegNet?
PegNet is a DeFi project that supports 42 pegged assets, including 20 of the world’s top fiat currencies, 20 top crypto currencies + Gold & Silver. The decentralized oracles that secure the prices on PegNet allow the platform to provide real time conversions between these stablecoins, crypto currencies and commodities for only 1/10th of a penny cost. Users have already converted over $3 Billion USD worth of pAssets on the platform since its launch in October of 2019.What is the PEG Token Used For?
The PEG token is the native token of the PegNet protocol and serves as a gateway into the PegNet for users to create pAssets. Users burn PEG and remove them from the supply of tokens as a means of proving the value they are adding to the network and receive in exchange an equal value of the pAsset of their choice for example pUSD, pBTC or pETH. About 400 Million PEG have already been burned since launch and have decreased the supply of PEG to around 1.8 Billion.
The PEG tokens are available on multiple blockchain platforms. The tokens available on Smart Valor are the ERC20 version and so they work easily with Ethereum wallets and infrastructure.
See details on PegNet’s growing integrations with Ethereum here.
How PegNet On-chain Oracles Work?
This short video describes how the PegNet oracles are secured by miners around the world who submit new price records every 10 minutes. This approach removes all the middle men and third parties that normally provide oracle information and instead allows the user to directly interact with the protocol in their own private wallet.
Arbitrage Of pAsset Prices

Why PegNet?
Decentralized finance needs a wide variety of stablecoins and crypto assets that can be used for lending, payments and staking functions. PegNet works across multiple blockchains, is extremely cheap to use thanks to its 2nd layer integrations. Beyond that, it has no formal company or foundation and is effectively the antithesis of Libra and as a result is able to serve many emerging markets that will be last on Libra’s list to provide access to. You can read about the future of Stablecoins in this article:
The Core Values of The PegNet Community
Detailed in this article are the core values of PegNet community has developed before and since its launch in 2019. In summary they include:- Universal Access
- Stability
- Liquidity
- Frictionless Conversions
- User Run Network
- Self Sovereign
- Consensus Based Oracles
- Continuous Improvement
- Regular Hardforks
- Open Development
PegNet is Truly Decentralized
Users should have permissionless access to PegNet regardless of their level of economic means, location, or technical ability. The primary way this universal access is achieved is through maximizing decentralization & lowering barriers to participate. It has no central reserve, no shared collateral, no central operators, held no ICO, no pre-mine, and has no Foundation.
Supporting PegNet Developers
PegNet Uses A Different Approach To Dev Rewards — User Driven The PegNet community has always taken an individualistic approach to rewarding developers. Members of the community pledge PEG toward a feature or project they want to see build on PegNet and the first developer to complete the task claims the reward. Using this method more than 20 Million PEG have been awarded to devs that built the explorers, wallets, PegNetd, and other software that supports it today. As PegNet2.0 is nearing time to roll out, the question came up about how to continue this tradition and formalize it more in the protocol, but at the same time to reinforce the individualistic model of donations. So rather than a bunch of voting, the proposal is to have 2,000 PEG per block be sent to devs as directed by the PEG Stakers.PEG Token statistics (24th June, 2020)
- PEG Circulating Supply: 1,810,495,161
- Token Holders: 1,861
- Coinmarketcap
- Etherscan
Learn more about PegNet with these videos + articles
• Intro to PegNet from 2019 Launch • PegNet Version 2.0 Under Development Now • Video Detailing Staking Rewards for pAssets & PEG In PegNet 2.0