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How does this pept work? Would it be by buying the token here on hive?

Have a look at the PEPT community for lots of content to Learn Before You Earn
https://peakd.com/c/hive-102963/

Yes, you would be buying the token on Hive open market. pepEntropy may be a good choice for you. I do all the trading of L2 tokens and share returns via monthly ROC Return on Capital

It looks very promising, as it's been a busy day for me at work today, when I get home I'll take a look and read about the token, thank you very much!