Pear Protocol is the revolutionary trading terminal that opens up the world of DeFi pair trading, once the exclusive domain of professionals, to everyone. Built on Arbitrum, it aggregates liquidity from top-tier sources like GMX and Hyperliquid, allowing you to execute leveraged long & short strategies with a single click. Rest assured with its non-custodial design, where assets are always managed in your own wallet. The native token, $PEAR, provides a share of the protocol's fee revenue (in ETH) and the right to participate in governance to decide the platform's future.

"I think SOL will outperform ETH going forward." This is a common market prediction among many traders. The classic strategy to turn this into profit is "pair trading." You go long on SOL and short an equivalent amount of ETH. This way, regardless of whether the overall market goes up or down, you can profit solely from the difference in price (spread) between the two assets.

However, trying to do this in DeFi was the beginning of a nightmare.

• The hassle of visiting various DEXs (Decentralized Exchanges) to open long and short positions separately.
• The complexity of managing margin requirements that differ for each exchange.
• The tediousness of having to manually calculate your own PnL (Profit and Loss) to see how much your strategy was actually making.

Pear Protocol was born to solve these "classic DeFi problems" fundamentally and elegantly. Pear Protocol has one mission: to provide an integrated trading environment where anyone can execute advanced pair trades, used by professionals, with a single click and with maximum capital efficiency.

Pear Protocol is not a "DEX killer" trying to create a new exchange to compete with existing ones. It is a "Strategy Execution Layer" that sits on top of powerful players like GMX and Hyperliquid, automating all the complex trading procedures behind the scenes. As a result, all you see is a simple screen for "trading the SOL/ETH pair." You no longer need to worry about the tedious processes happening in the background.

At the heart of Pear Protocol is a non-custodial "Execution Layer" that does not take custody of user assets. It routes your order—"I want to long XX and short YY"—to the optimal venue among three distinct engines.

This design demonstrates that Pear Protocol exists in a win-win, symbiotic relationship with other DEXs. By routing new "pair trade" orders to platforms like GMX, Pear Protocol increases their trading volume and fee revenue. This collaborative relationship is evident from its acceptance into GMX's official grant program.

The third engine, the "Intent-Based Engine," is particularly noteworthy. It is a truly revolutionary technology that will shape the future of DeFi.

Let's explain "Intents" with a restaurant analogy...

• Traditional Trading: "Telling the chef, 'First, sear the beef fillet, then make the red wine sauce, and finally, plate it.'"
  • Users had to specify every step: which DEX to use, how to swap, etc.
• Intent-Based Trading: "Telling the chef your intent: 'I want to eat the best steak.'"
  • You simply state your final goal (the "What"), such as "I want to turn 1 ETH into at least 1,600 USDC."
  • Professional entities (Solvers) who receive this intent then compete, saying, "We can get you a better rate!" and find the optimal execution method (the "How") for you behind the scenes.

This mechanism completely overcomes the weaknesses of the traditional AMM (Automated Market Maker) model.

1. Global Liquidity: Solvers find the most advantageous liquidity for you from sources all over the world (even including CEXs) or their own inventory. This achieves low slippage, even for large trades.
2. Complete Protection from MEV: Your trade intent is processed in an off-chain competitive environment, not in the public mempool monitored by bots. This fundamentally prevents "sandwich attacks," where you lose money due to reordering of transactions.
3. Ultimate Capital Efficiency: Liquidity is provided "just-in-time" by solvers only at the moment a trade is needed. Funds don't sit idle in pools, dramatically improving the efficiency of the entire ecosystem.

By being an early adopter of this "Intent" technology, Pear Protocol is a pioneer among next-generation platforms aiming for execution quality that could eventually surpass even Centralized Exchanges (CEXs).

At the center of the Pear Protocol economy is the $PEAR token. Its value is supported by clever tokenomics.

• Real Yield: A remarkable 80% of the protocol's fee revenue is distributed directly to $PEAR stakers in ETH. This is a sustainable revenue model that doesn't rely on token inflation.
• Fee Discounts: Holders of stPEAR (staked PEAR) receive discounts on trading fees, allowing them to trade more advantageously.
• Governance: You can make your voice heard in important decisions concerning the protocol's future.

Staking That Favors Long-Term Holders, Deterring "Locusts"

Unstaking $PEAR involves a unique mechanism. After initiating an unstake request, a penalty fee gradually decreases from 20% to 0% over a 30-day period. And the penalties paid by those who exit early are distributed to the loyal, long-term holders who continue to stake.

This design is a highly ingenious mechanism to filter out "mercenary capital" seeking only short-term profits, and to attract and reward long-term partners who believe in the protocol's growth.

Pear Protocol has successfully raised a total of $5.35 million (approx. 800 million JPY) from prominent VCs like Castle Island Ventures, a testament to its potential as recognized by professional investors. It has already proven its capabilities, approaching $1 billion in cumulative trading volume in its beta version.

The funds raised will be used to realize a roadmap for evolving from a mere trading tool into a DeFi "Prime Brokerage."

• Structured Product Vaults: Automated investment vaults that allow you to copy professional strategies and aim for returns with minimal effort.
• API for Institutions: Catering to the advanced trading needs of professional trading firms and DAOs.
• NFT-ization of Positions: Your pair trading positions become NFTs, which can then be used as collateral for further financing.

Pear Protocol aims to become the essential financial infrastructure for all traders, funds, and DAOs executing sophisticated market-neutral strategies.

Pear Protocol has a track record of multiple airdrops, and officials have already hinted at the existence of "Season 2." There is a clear action you can take right now to earn future rewards.

That is to participate in the "HyPear Points" program, launched to commemorate the integration with Hyperliquid.

Concrete Action Plan

1. Top Priority: Trade on the Hyperliquid Engine!
   • This is currently the most efficient way to earn points. By simply trading through Pear Protocol, you can earn both Hyperliquid's own points and Pear's unique "HyPear Points."
2. Build Up Your Trading Volume
   • The golden rule of DeFi airdrops is "Contribution = Trading Volume." Consistent trading will lead to significant future returns.
3. Monitor Official Announcements
   • Details about "Season 2" and the point exchange will be announced on the official X (Twitter: @pear_protocol) and Discord. Be sure to follow them and not miss the latest updates.
4. [For Advanced Users] Interact with Other Engines
   • As a risk diversification measure, leaving a small transaction history on the GMX and SYMMIO engines might prepare you for future surprises.

This points program is not just a thank-you to users. It is an advanced growth strategy to concentrate initial liquidity on the newest engine, Hyperliquid, and ensure its success. Your trades today will shape the future of the protocol and your own profits.

Pear Protocol is a revolutionary project that has reconstructed advanced financial strategies, once exclusive to professionals, with the power of DeFi, making them accessible to everyone.

With its future-forward intent-based technology, strong backing from renowned VCs, and a clear vision, Pear Protocol is not just another tool. It is a presence that is creating a new category in the DeFi derivatives market.

Keep a close eye on Pear Protocol, which is at the forefront of sophisticated trading that bets on the relative strength between assets, unswayed by market noise.