Pickaxe Finance

Whitepaper
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1. Executive Summary

Pickaxe Finance introduces a novel Decentralised Dual Investment Protocol, enabling users to capitalize on cryptocurrency market volatility through strategic buying low and selling high. Our platform leverages smart contracts to automate transactions, offering a secure and transparent DeFi investment solution.

By depositing USDT, users can buy selected cryptocurrencies at a discount during market dips or earn annual interest if the anticipated price dip does not occur. Conversely, users can deposit cryptocurrencies to sell at predetermined high prices, earning interest while they wait for market peaks.

2. Introduction

The DeFi market has witnessed exponential growth over the past few years, transforming the landscape of digital finance. As of early 2024, the DeFi sector boasts over $75 billion in TVL, with hundreds of platforms offering a wide range of services from lending and borrowing to complex derivative trading.

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This rapid expansion underscores the increasing trust and interest in web3 financial services, offering exceptional access to financial instruments without the need for traditional intermediaries.

The DeFi market, despite its exponential growth, confronts significant hurdles such as market volatility and the complexity of platforms, which often dissuade the general public from participating. The fluctuating nature of asset prices presents a dual-edged sword—providing lucrative opportunities for the experienced while posing substantial risks for novices. Furthermore, the steep learning curve associated with many DeFi platforms, coupled with the necessity for a deep understanding of blockchain technology, exacerbates the issue of accessibility.

Pickaxe Finance emerges as a strategic solution to these challenges, aiming to democratize DeFi investments by simplifying the entry and participation process. The platform is designed with the user in mind, reducing the complexity of DeFi transactions to a series of straightforward choices between buying low ("Mine Dips") and selling high ("Conquer Peaks"). This approach not only minimizes exposure to volatility but also broadens the appeal of DeFi investments, making them more accessible to individuals regardless of their expertise in blockchain technology.

The Problem

The DeFi sector's growth is hindered by high volatility and the complexity of its platforms, which intimidate the average investor and limit market accessibility

The Solution

Through its Decentralised Dual Investment Protocol, Pickaxe Finance enables users to engage in strategic investments without needing extensive blockchain knowledge, thus widening the path to DeFi for the masses and empowering them to take control of their financial futures.

3. System Overview

Pickaxe Finance offers a unique DeFi investment experience through its Decentralised Dual Investment Protocol, enabling users to capitalize on cryptocurrency market movements with two main strategies: Dip Mining for buying at lows, and Peak Conquest for selling at highs. This protocol operates on smart contract-based daily cycles beginning at 08:00 UTC, ensuring secure and automated transactions.

Buy Low Strategy (Dip Mining)

Users deposit USDT to buy approved tokens like CHR at a discount during market dips, choosing from discount rates of (5%, 10%, 15%) If the market does not dip, users still earn annual interest on their USDT deposits, providing a fallback in case the anticipated price decrease does not occur.

Entry Point

Sell High Strategy (The Peak Conquest)

Participants deposit CHR or other tokens, setting a target sell price. They earn annual interest until the market reaches this price, at which point the system converts their crypto back to USDT automatically.

The platform's daily operation cycles enhance market responsiveness, allowing users to adapt their strategies to real-time market conditions. Through the integration of smart contracts and the strategic use of options, Pickaxe Finance simplifies the DeFi investment process, making it accessible and profitable for users with various levels of expertise.

4. Technical Architecture

Now let’s take a closer look into the technical foundation of Pickaxe Finance, including the blockchain technology used, the smart contract framework, security measures, and how these components support the platform's features and user interactions.

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    Smart Contract Framework

    Now let’s take a closer look into the technical foundation of Pickaxe Finance, including the blockchain technology used, the smart contract framework, security measures, and how these components support the platform's features and user interactions.

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    Operational
    Cycles

    Daily cycles starting at 08:00 UTC, facilitating deposits and initiating put and call options for trading via the Hedget system.

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    Coefficient 'c' Calculation

    Determines user payouts by calculating the ratio of "worked" f-tokens at the end of the period to those at the beginning, adjusting payouts based on option performance and market conditions.

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    System
    Phases

    Includes launch, operation, and shutdown phases, with the system accepting deposits at launch, managing daily operational cycles, and allowing withdrawals upon shutdown or post-launch period completion.

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    Deposit and Withdrawal

    Offers flexible deposit and withdrawal mechanisms, enabling users to engage with the system at any time and withdraw funds based on the terms of system shutdown or completion of specific launch periods.

Roadmap

Discover Our Vision of the Crypto Investing of Future:

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  • EVM + CHR Testnet Launch: Deployment of both Ethereum Virtual Machine and CHR testnets to test platform capabilities.

    Start of Points Program:Introduction of a rewards program to incentivize user engagement and platform loyalty.

  • Start of Points Program: Introduction of a rewards program to incentivize user engagement and platform loyalty.

  • QS Audits: Comprehensive security and functionality audits to ensure the integrity and reliability of the platform.

    EVM + CHR Mainnet: Launch of the mainnet combining Ethereum Virtual Machine and CHR functionalities, marking a critical step in platform development.

    Partnership with Options Dapp: Integration with an options trading dapp to enhance financial product offerings.

  • Buy Low Strategy Incentivisation: Implementation of incentives for users employing the 'Buy Low' investment strategy, encouraging active trading and engagement.

  • Sell High Strategy Implementation: Rollout of the 'Sell High' strategy, providing users with tools to maximize profits from market peaks.

  • More Tokens: Expansion of the types of tokens supported by the platform, increasing user options for trading and investment.

  • Yielding Grids: Introduction of yielding grids to provide users with automated yield optimization strategies across various cryptocurrencies.

  • More Tokens and New Chain: Addition of more token types and expansion to a new blockchain, enhancing the platform’s versatility and reach.

  • More Tokens: Further expansion in the variety of tokens available on the platform, continuously adapting to market demands and trends.

  • Continued Token Expansion: Regular addition of new tokens to keep up with the evolving crypto market.

  • New Blockchain Integrations: Extending platform functionality across additional blockchain networks to cater to a broader user base.

  • More Platform Integrations: Increasing integration with other financial applications and services to offer a comprehensive suite of DeFi tools.

6. Conclusion

The platform navigates the volatile crypto markets and offers users a secure harbor from which to launch their investment journeys. With a user-centric approach and a commitment to simplifying DeFi investments, Pickaxe Finance is poised to lead the charge towards a more inclusive and profitable future in digital finance.

Pickaxe Finance

Today is

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  • Flexibility

    Users can tailor their investment strategies to suit market conditions, choosing between Dip Mining and Peak Conquest.

  • Adaptability & Accessibility

    Daily operation cycles allow users to quickly adjust their strategies in response to market changes.

  • Security

    Leveraging smart contracts ensures that all operations are transparent and tamper-proof.

  • Earnings

    The opportunity to earn interest regardless of market direction provides a steady income stream.

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Flexibility

Users can tailor their investment strategies to suit market conditions, choosing between Dip Mining and Peak Conquest.

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Adaptability & Accessibility

Daily operation cycles allow users to quickly adjust their strategies in response to market changes.

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Security

Leveraging smart contracts ensures that all operations are transparent and tamper-proof.

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Earnings

The opportunity to earn interest regardless of market direction provides a steady income stream.

Pickaxe Finance remains committed to refining our tools and strategies to better serve our community of investors. By constantly innovating and adapting to the needs of our users, we aim to solidify our position as the premier platform for strategic DeFi investments. Join us on this journey, and together, let's uncover the vast potential of the cryptocurrency market with Pickaxe Finance.

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