PlutusSwap
Welcome to a new era of DeFi
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Welcome to a new era of DeFi
Last updated
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UniSwap - yPLT-ETH yPLT-USDT Liquidity Locked on UniCrypt- yPLT/ETH locked for 1 year yPLT/USDT locked 1 year Unused yPLT allocated for liquidity Burnt 100% Pre-mined yPLT Burnt Beware of yPLT imposters on UniSwap and other exchanges, always check the contract address. yPLT Contract Address: 0x40E7705254494a7E61D5b7c86da50225DDc3DaAE PlutusSwap Background We are a group of devoted followers from the Plutus Capital community. For centuries, humanity has been oppressed by the financial systems imposed upon them. Not by choice, but by association with the state and its financial foundations, typically archaic and draconian, driven by a collective few for the majority. The wealth divide has never been bigger, and the top 1% of wealth dictates the economic prosperity of the rest through the banking system. This forms an artificial barrier to true financial freedom for the masses. However, just like the official USA motto printed on the American dollar bill- “In God, We Trust.” Plutus was the Greek God of Wealth, blinded by Zeus so that he would distribute wealth indiscriminately and not favour the good. As mentioned above, the existing global centralised finance system is flawed and unfair, resulting in exploitation of the underprivileged. As devoted followers of the great god, Plutus, we decided to step in and stop the egregious abuse of financial rights.
What is Plutus Capital? Plutus Capital is a digital financial ecosystem built on cutting edge blockchain technology. Plutus Capital is made up of two parts: 1. The Plutus chain 2. The Plutus lending app The Plutus chain is a decentralized system comprising: • A community of developers and engineers who work on the chain & platform • The user platform • The coin rewards pool resulting from user activity The Plutus lending app is built by Plutus Capital on the Plutus chain. Stakeholders of the Plutus app will be able to borrow funds in a secure, transparent, and rewarding manner, through the Plutus lending app that was recently launched.
"Bank the unbanked, unbank the bank" is the original vision of Plutus Capital and will be brought forward to PlutusSwap as well. Understanding that the unbanked population has difficulties accessing financial services in their respective countries due to barriers such as regulations, PlutusSwap aims to be a DEX that eliminates intermediaries such as governments and centralised financial institutions while trading digital assets. The end goal is to allow every user around the world with an internet connection to have access to trade and earn. What is PlutusSwap? Seeing the recent growth in yield farming within the DeFi space, we, as the Plutus Capital community have decided to launch our own yield farm based on Plutus Capital vision. Presenting to you, Plutus Swap & yPLT.
Although we believe in the value of Plutus Capital’s PLT token, the community was not able to leverage on existing product offering to reap the benefit of yield farming. Users on PlutusSwap will be able to farm yPLT by staking LP tokens from UNISWAP. Learn more about PlutusSwap in this article - https://medium.com/@yplt/the-yplt-introduction-decentralised-finance-for-the-masses-yplt简介-大众划分散式金融-c331a2f931d7
Who is behind yPLT? Since 2015, we have been a diverse group of pragmatic individuals and idealists. We believe that the key to unlocking economic equality, prosperity and financial freedom lies in developing strong Fintech use-cases on cutting-edge Distributed Ledger Technology. Most importantly, we are neither a chef nor food. We aspire to bank the unbanked, bringing fundamental financial rights to billions of individuals across the globe. We want to unbank the banked, stripping away the financial prison that many in the first world are enslaved to.
We are the followers of the great Plutus.
How do I benefit from yPLT token? yPLT is a governance token and give you voting rights.yPLT token holders have the right to vote on proposals and decide on future development. yPLT will have a market-determined monetary value in the various pools. If you contribute yPLT to the liquidity pool, you will receive a percentage of the market making/transaction fees. yPLT will allow you to stake and earn bonus rewards on PlutusSwap. What is the total number of yPLT? The total amount of yPLT is 100,000,000, which will be released in about 8 years through mining. 95% of yPLT released by mining is distributed to users and 5% is reserved for the development team. yPLT LP holders will also receive x10 rewards for supporting the ecosystem.
Mining will be divided into 5 stages: yPLT is mined every ethereum block (around ~ 20 seconds a block) Below is the schedule of mining=> Genesis Mining: 100 yPLT/block,total 50,000 blocks(~7 days) Stage 1:10 yPLT/block,total 5,000,000 blocks(~1.9 years) Stage 2:5 yPLT/block,total 5,000,000 blocks(~1.9 years) Stage 3:2.5 yPLT/block,total 5,000,000 blocks(~1.9 years) Stage 4:1.25 yPLT/block,total 5,000,000 blocks(~1.9 years)
What will happen to the pre-mined tokens? 59160 yPLT from the pre-mined tokens will be available for presale. This is to reward yPLT early adopters from PlutusSwap community. From the pre-mined yPLT, 100,000 yPLT will be allocated to provide liquidity on UniSwap upon listing, with an equivalent value of ETH/USDT.
For yPLT presale, all ETH collected will be used to contribute to UniSwap Liquidity Pool upon listing. Since the price during presale is lower than actual listing, the team will top up any remaining ETH & USDT with our own resources to balance the pool if required.
As of the remaining pre-mined token, ALL of the remaining yPLT will be sent to a time lock contract for 30 days. Which means other than for providing liquidity and presale, all yPLT will be locked up before UniSwap listing. Our community members with yPLT will be able to vote on how to allocate the remaining tokens. Be it for marketing, development or any other proposals, yPLT token holders will be able to propose and vote on what to do with the remaining pre-mined yPLT.
100% yPLT unused burnt. Team holds no yPLT in main wallet as shown on Etherscan. Future development will rely on 5% of yPLT generated through liquidity mining. What are the initial sets of pools on PlutusSwap?
Uniswap LP yPLT/ETH (x10 rewards)
Uniswap LP yPLT/USDT (x10 rewards)
Uniswap LP USDT/ETH
Uniswap LP USDC/ETH
Uniswap LP UNI/ETH
Uniswap LP PICKLE/ETH
UNIswap LP Core/ETH
Uniswap LP AMPL/ETH
Uniswap LP LINK/ETH
What is yPLT official smart contract address? yPLT Contract Address: 0x40E7705254494a7E61D5b7c86da50225DDc3DaAE
How will PlutusSwap be integrated into Plutus Capital or vice versa? There are over 1500 Monthly Active Users (MAU) on Plutus Capital Lending app, allowing users to lend, borrow and earn interest. As for PlutusSwap integration with Plutus Capital, we will be implementing the AMM into the existing app itself, leveraging on the efficiency of an AMM system instead of using a traditional order book or arbitraging from the various exchanges in order for the lending function to work. As we all belong to the same community, we will definitely keep everything in house and leverage on the strength of one another to build a seamless ecosystem. (eg, Community/App of Plutus Capital & Technical aspect of PlutusSwap). Harnessing on the power of DeFi! What makes PlutusSwap different from other projects? One of the major problems of current AMM is the issue of impermanent loss. We are working on new mechanics that will reduce impermanent loss. This will be introduced with our smart contract upgrade in the future. We will be migrating from ERC20 to our own proprietary blockchain, Plutus Chain in the future. Plutus Chain developers are currently working on this. The goal of yPLT at its genesis mining stage is to achieve equitable distribution to the community before launching the updated smart contract with an improved AMM design. We will make an official announcement once it is ready! Furthermore, unlike many other AMM out there, we already have an existing application with an existing community of users and developers with the same vision.
For more information regarding Plutus Chain, you may refer to Github: https://github.com/PlutusCapital/plutus
