Yield-Plutus: Introducing the Highest Yielding Governance Token

Project Reviews / 12.10.2020

Revolutionary crypto technologies such as DeFi and other upcoming blockchain tech have decentralized financial processes, making access easy. For instance, the swap platforms, including Uniswap, have had a tremendous impact on the crypto world’s growth and success. 

However, most of these platforms still face serious challenges, including partial centralization and unreliability. A new platform, PlutusSwap, is working on introducing full community governance and adequate rewards for its token holders.

PlutusSwap

PlutusSwap is an automated market-maker protocol built to ensure a complete decentralization of wealth and market power. Currently, most AMMs akin to UniSwap depend on smart contract capabilities to provide token swaps. Most of these swaps face several challenges, including the inability to improve, especially in impermanent loss cases. However, the PlutusSwap will completely change the narrative by offering a yield farm for staking liquidity providers tokens from UniSwap. 

Moreover, this platform is on a mission to ensure that the world’s large unbanked population of over 1.7 billion adults is banking. PlutusSwap’s formula for banking the unbanked involves creating an interference-free PlutusSwap to be a DEX platform free from government or intermediary regulations. Successful removal of the banking industry’s entry barriers will lead to banking unbanked, mainly because accessing banking services will be easy. Every internet user globally will be able to get access to financial banking. 

Moreover, it merges a wide range of pools, including yPLT/ETH, yPLT/USDT, USDT/ETH, USDC/ETH, UNI/ETH, PICKLE/ETH, CORE/ETH, AMPL/ETH, and LINK/ETH.

yPLT Token

yPLT is a unique governance token capable of allowing its users to earn a yield on PlutusSwap. Moreover, this token allows holders to participate in the development of the platform freely. They achieve that by allowing users to vote on proposals that aim to grow the ecosystem.

On top of being a governance token, yPLT will eventually allow token holders to benefit from fee sharing on PlutusSwap’s AMM. Yield farming is the crypto world’s best way of earning recently; it involves lending crypto to others and receiving fees in return. Since the yield DeFi farming business is booming, the introduction of yPLT will bolster the Plutus capital’s growth. 

yPLT Token Economics

The maximum number of yPLT is 100 million, 90% of which will be mined by the end of 8 years. 10% of the full supply, 10 million tokens were used for presale and initial liquidity. Only 59,160 yPLT were allocated for presale and 38,000 yPLT used to bolster the yPLT liquidity in UniSwap. Remaining unused pre-mined were initially meant to be sent to a time-locked contract but were burnt two days after listing. 

During Uniswap listing and PlutusSwap launch, yPLT price inflated but was crushed later. According to the team, the cause of this crash was due to a miscommunication between the team and community. Many fear that the yPLT team will dump the pre-mined tokens and the team did not manage to react quick enough to subdue the FUD from spreading. To counter all of the negative comments, on 9th October, the team decided to change the timelock policy and instead burnt all of the pre-mined 9, 840, 840 yPLT tokens utterly. 

The cause for this price fall is also partly due to the massive amount of yPLT generated from the genesis stage of liquidity mining that will run for seven days, beginning October 7, producing around 5 million new tokens. 95% were distributed to farmers on PlutusSwap and only 5% were sent to DEV wallet for development. After that, the 1st stage of mining starts in mid-October slows down and runs for 1.9 years, leading to a sale of 50 million tokens. The mining process continues until eight years lapses with all the 100 million tokens mined and in circulation. Each yPLT goes for 0.1 USD now, and the current market cap is below $100 000. PlutusSwap AMM is due to launch in early Nov.  

Plutus Capital Mobile App

Plutus ecosystem consists of the Plutus chain and the Plutus lending app, aiming to bolster its service provision. This Plutus chain consists of the developer community, the user platform, and the coin rewards pool for users. The lending app allows stakers to borrow funds in the blockchain transparently, securely, and rewardingly.

This app has over 1500 monthly active users who access borrowing and lending services. Lenders receive an income in the form of interest and fees. Plutus developers will integrate PlutusSwap into the Plutus capital app, thus leveraging the efficiency of the AMM in lending and borrowing. Moreover, to fasten the Plutus ecosystem growth, developers will integrate yPLT token into the application. This app offers users a non-custodial system of holding wealth, meaning that account holders have full control of their funds. The future hope of integrating yPLT to the Plutus capital mobile app shows excellent potential for yPLT, PlutusSwap, and Plutus app.

Moreover, launching the Plutus capital app will be a massive boost for Plutus’ community involvement. The Plutus capital ecosystem will be launching a series of new products in the coming years, all gear towards decentralizing wealth allocation. 

Final Word

A look into the Defi world drives us to a newly launched platform dubbed the Plutus ecosystem, which brings a vast array of solutions into the financial world. Foremost unlike current AMMs, the platform leverages smart contract capabilities fostering improvements in terms of decentralization and impairment losses. 

Moreover, the PlutusSwap is the long-awaited solution to banking the big chunk of the unbanked adults, since it brings financial services via the internet. The Plutus capital app will host the PlutusSwap easing its accessibility for everyone with an internet device. 

With its own yield token, yPLT within their ecosystem, it will enable crypto enthusiasts to earn while holding them. An AMM integrated on their lending app will also be a game changer if that happens. yPLT’s mining will take eight years, ultimately ending with 100 million (*90+ million now, since 9.8+m burnt forever) governance tokens.

Adam is an outgoing young lad who likes adventures and discovering new things. Despite his boring life, he loves writing about cryptocurrencies and exploring what blockchain technology can do for the coming digital world where all adventures will be virtual.