What is PegNet and how does it related to Factom?

PegNet is a stablecoin network that creates the foundation for decentralized finance. It is a layer 2 solution built on top of the Factom Protocol and one of the onramps into PegNet is converting FCT to pFCT (which destroys the FCT). All transactions and conversions and mining use EC as well. The PegNet website is here, there is an active Discord, and below is an explainer video: