pETH is an Ethereum derivative supported by the JPEG'd protocol. It is minted when a user borrows against their NFT and burned when they decide to repay their loan. Unlike the 2% interest rate for borrowing PUSd, minting $pETH against an NFT has a 5% interest rate.
A user cannot borrow both pETH and PUSd from the same vault.
pETH will be situated in a Curve factory pool with ETH.