FAQ
고지 사항: 이 백서는 영어 버전이 공식 문서입니다. 다른 언어 버전은 참고용입니다。
General
섹션 제목: “General”What is PIPO?
섹션 제목: “What is PIPO?”PIPO (Pre-IPO Prediction Oracle) is a decentralized platform for trading covered warrants on pre-IPO company valuations. It allows users to gain bullish or bearish exposure to unicorn valuations like SpaceX, OpenAI, and Stripe.
How is PIPO different from Polymarket?
섹션 제목: “How is PIPO different from Polymarket?”| Aspect | PIPO | Polymarket |
|---|---|---|
| Product | Covered warrants | Binary prediction markets |
| Outcome | Continuous (any valuation) | Binary (yes/no) |
| Backing | Real assets (SPV shares, USDC) | Event resolution |
| Settlement | Quarterly + events | Event-based |
Is this legal?
섹션 제목: “Is this legal?”PIPO operates as an offshore platform with structured products (covered warrants), not securities. Services are not available to US persons or restricted jurisdictions. Consult local counsel for your specific situation.
Trading
섹션 제목: “Trading”What’s the minimum investment?
섹션 제목: “What’s the minimum investment?”$100 equivalent in USDC.
What chains are supported?
섹션 제목: “What chains are supported?”BSC (primary) and Base (secondary).
How do I get started?
섹션 제목: “How do I get started?”- Connect a compatible wallet (MetaMask, WalletConnect)
- Ensure you have USDC on BSC or Base
- Select an underlying and warrant type
- Execute your trade
What’s the maximum I can invest?
섹션 제목: “What’s the maximum I can invest?”| Tier | Single Position | Total |
|---|---|---|
| Retail | $100K | $500K |
| KYC Verified | $500K | $2M |
| VIP (KYB) | $5M | $20M |
Warrants
섹션 제목: “Warrants”What is a Call Warrant?
섹션 제목: “What is a Call Warrant?”A call warrant profits when the underlying company’s valuation exceeds the strike price. If SpaceX is valued at $220B and your strike is $200B, your warrant has intrinsic value.
What is a Put Warrant?
섹션 제목: “What is a Put Warrant?”A put warrant profits when the underlying company’s valuation falls below the strike price. Useful for hedging or bearish speculation.
What happens at expiry?
섹션 제목: “What happens at expiry?”- ITM (>1%): Auto-exercised, USDC paid to you
- OTM: Expires worthless
- You can disable auto-exercise in settings
Can I sell before expiry?
섹션 제목: “Can I sell before expiry?”Yes, warrants trade 24/7 on the AMM. You can sell anytime at market price.
Settlement
섹션 제목: “Settlement”How is the settlement price determined?
섹션 제목: “How is the settlement price determined?”The Oracle Committee publishes valuations based on:
- Latest funding rounds
- Secondary market transactions
- Third-party estimates (PitchBook, etc.)
Can I get actual shares?
섹션 제목: “Can I get actual shares?”Yes, if you’re a VIP (KYB verified) with $500K+ position, you can request physical delivery of shares from the SPV.
How long does settlement take?
섹션 제목: “How long does settlement take?”- Cash settlement: T+1 (next day)
- Physical delivery: 10-15 business days
Fees
섹션 제목: “Fees”What are the trading fees?
섹션 제목: “What are the trading fees?”0.30% per trade (0.25% to LPs, 0.05% to protocol).
What are the settlement fees?
섹션 제목: “What are the settlement fees?”- Cash settlement: 1.0%
- Physical delivery: 2.0% + legal costs
Security
섹션 제목: “Security”Is PIPO audited?
섹션 제목: “Is PIPO audited?”Smart contracts will undergo audits by multiple security firms before mainnet launch. Results will be published.
Are my funds safe?
섹션 제목: “Are my funds safe?”- Call warrants: Backed 100% by SPV-held shares
- Put warrants: Backed 100% by USDC in smart contract
- No fractional reserve
What if there’s an exploit?
섹션 제목: “What if there’s an exploit?”PIPO maintains insurance coverage and emergency reserves. Contracts can be paused immediately if threats are detected.
Account
섹션 제목: “Account”Do I need KYC?
섹션 제목: “Do I need KYC?”- <$100K: No (wallet only)
- $100K+: KYC recommended for higher limits
- VIP services: KYB required
How do I upgrade my tier?
섹션 제목: “How do I upgrade my tier?”- Go to Settings > Verification
- Complete identity verification (KYC) or entity verification (KYB)
- Approval typically within 24-48 hours
What jurisdictions are blocked?
섹션 제목: “What jurisdictions are blocked?”US, China, North Korea, Iran, and other OFAC-sanctioned territories.
LP (Liquidity Providers)
섹션 제목: “LP (Liquidity Providers)”How do I provide liquidity?
섹션 제목: “How do I provide liquidity?”- Go to Pools
- Select a warrant pool
- Deposit USDC (platform handles conversion)
- Receive LP tokens
What returns can I expect?
섹션 제목: “What returns can I expect?”LP returns depend on trading volume. Historical ranges: 10-30% APY from fees, plus points rewards.
What is impermanent loss?
섹션 제목: “What is impermanent loss?”When warrant prices move significantly, LPs may receive less value than if they held assets separately. This is a risk of all AMM LP positions.
Points & Rewards
섹션 제목: “Points & Rewards”What are points?
섹션 제목: “What are points?”Points are earned through platform activity (LP provision, trading, referrals). They may be convertible to a future governance token.
Will there be a token airdrop?
섹션 제목: “Will there be a token airdrop?”No commitment has been made. Points may be eligible for future distributions if a token is launched.
Support
섹션 제목: “Support”How do I get help?
섹션 제목: “How do I get help?”- Discord: [discord.gg/pipo]
- Email: [email protected]
- Twitter: @PIPOfinance
How do I report a bug?
섹션 제목: “How do I report a bug?”Submit via our bug bounty program. Rewards up to $100,000 for critical vulnerabilities.