## What Is Parrot Defi?

Parrot DeFi is a decentralized yield farming and NFTs multi-chain platform running on Matic, IoTeX, Arbitrum and Harmony. 
1PEGG (Harmony Parrot Egg) is the native token, and it is the core foundation of Parrot Defi on Harmony protocol.

1PEGG utility token is used for:

* Governance through Snapshot DAO
* Farming and Staking rewards 
* DEX Fees deduction 
* NFTs acquisition.

Parrot Defi on Harmony will feature: 

* Liquidity Pools for liquidity mining.
* Single Staking Pools to earn 1PEGG rewards. 
* Multi-reward Vaults for earning different tokens. 
* Incubator, a highly efficient burning mechanism for layered farming. 
* NFTs.


## How Many 1PEGG are in Circulation?

1PEGG was fair-launched on Harmony Protocol on the 30th of November, 2021, and 80,000 1PEGG tokens were created at genesis. The supply is capped to a maximum of 1 Million tokens, and the launching emission rate was set to 0.4 1PEGG per block. The emission rate will be updated progressively to accordingly to a hyperbole curve.


### Who Is the Team of Parrot Defi?

Parrot Defi's core team is composed of experienced entrepreneurs, smart contract developers, project managers, and crypto enthusiasts; and has been excited about EVMs and is committed to supporting the future of DeFi.
The team has KYC'd to MCN Ventures, IoTeX and Harmony's Core Team.

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