yPLT Presale
yPLT Presale on Bounce.Finance -Only a small percentage of yPLT total supply will be available for presale.
Dear followers of Plutus,
After two months of active development and planning, the PlutusSwap team is pleased to announce that yPLT is finally launched! Presale for yPLT will be happening on Bounce.Finance. If you are new here, click here to find out more about us.
Here are all of our recent progress so far-
On 23th September, PlutusSwap developers deployed the smart contract on the Ethereum test net. Our developers implemented some changes to the smart contract after conducting a round of internal audit. Onchain security is extremely important and we will prioritise that before launch.
After monitoring the market, we’ve decided to initiate a timelock contract for pre-mined yPLT tokens. We believe in true transparency and are aware that community members from other protocols are worried about the team dumping tokens after launch. To prove our commitment in yPLT long term development, we will be transferring majority of the pre-mined yPLT into a timelock contract. Pre-mined yPLT tokens will solely be used for presale, development, marketing and liquidity on UniSwap. Only a limited quantity of yPLT ( 59,160) will be available for presale on Bounce.Finance. yPLT presale will be split into 5 different days at a different price rate. Presale period will end on 6th Oct. UniSwap listing and genesis mining will be on 7th Oct.
yPLT Contract Address: 0x40E7705254494a7E61D5b7c86da50225DDc3DaAE
Presale Details
Based on ETH = USD$350, Bounce Level = Maximum 20 ETH worth of yPLT allocated for each day,
Price: 2 Oct, 22:00 (GMT +8) 1 ETH = 700 yPLT (~$0.50/yPLT)
3 Oct, 22:00 (GMT +8) 1 ETH = 637 yPLT (~$0.55/yPLT)
4 Oct, 22:00 (GMT +8) 1 ETH = 583 yPLT (~$0.60/yPLT)
5 Oct, 22:00 (GMT +8) 1 ETH = 538 yPLT (~$0.65/yPLT)
6 Oct, 22:00 (GMT +8) 1 ETH = 500 yPLT (~$0.70/yPLT)
7 Oct GENESIS MINING & UNISWAP LISTING
yPLT Presale will be held on Bounce.Finance.
Presale will be held on a first-come, first-served basis.
Presale will run for 5 days till 6th Oct
Each tier will end after 24 hours or until hard cap is reached.
Only 59160 yPLT out of 100,000,000 yPLT total supply will be available for presale.
Each user can only purchase a maximum of 5 ETH worth of yPLT
yPLT presale value will be pegged to ETH
ETH value during the 5 days presale period is based on 2nd Oct’s price (US$350/ETH).
Uniswap trading will commence one day after presale ends.
Uniswap liquidity will be added by PlutusSwap team, on top of the fundraised.
Proceed to https://bounce.finance to swap for yPLT today!
yPLT Tokenomics
Token Type: ERC20 Total Supply: 100,000,000 yPLT Presale Supply: 59,160 yPLT Initial listing price on UniSwap: US$1/yPLT
The total supply of yPLT is 100,000,000, and 90% of yPLT 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. Mining will be divided into 5 stages:
yPLT is mined in 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)
Why only a small percentage of total supply is available during presale? The purpose of this presale is to provide an opportunity for early adopters who support our vision to come on board and be part of PlutusSwap family during the initial stage of development. Other than being able to purchase yPLT at a lower price, presale participants will also be one of the first few LPs to farm on PlutusSwap and receive early yPLT rewards in return. We do not believe in selling 30% of total supply during the presale. The purpose of yPLT presale is not to raise funds for the team’s personal gains, and we do not see any reason why any cryptocurrency projects will require millions of dollars in order to launch their protocol. Funds raised during the yPLT presale will be used to contribute liquidity during UniSwap listing. We believe in the long term development of PlutusSwap and is ready to commit our personal resources. Therefore, we decided not to increase the yPLT presale amount and raised more ETH from the public.
Why conduct the presale through Bounce.Finance and not on PlutusSwap own portal? PlutusSwap team pursues a completely decentralized financial environment and we are pleased to see the DeFi community making tremendous progress by introducing elegant economic designs into the market. Bounce.Finance is one of the few protocols we truly admire, therefore, we’ve decided to leverage on their platform to conduct yPLT presale. Presale participants will just need to swap their ETH in exchange for yPLT on Bounce.Finance during the presale. The swap ratio between yPLT and ETH is fixed all the time. User will receive yPLT tokens once his ETH gets confirmed. In Bounce.Finance fixed-price pool, users will receive yPLT right after the transaction gets confirmed and does not need to wait until the pool closes.
yPLT Fact Sheet
PlutusSwap and yPLT Background
yPLT is developed by the Plutus Capital community as a way for the Plutus chain and user community to take proactive steps towards DeFi.
At the end of the day, yPLT is a community initiative born from the existing Plutus Capital community. yPLT will contribute liquidity to the DeFi community by introducing its existing investor pool to DeFi (through the Plutus Capital app integration), and the DeFi community will help the existing PLT community by introducing new ways to conduct financial transactions.
There will be an integration coming soon after launch to allow swap between PLT/yPLT.
What is Plutus Capital?
Plutus Capital is a blockchain project that has been around since 2019. With its origins in fintech, it launched a lending app in early 2020 which is currently used by traditional investors and has over 6.2mil USD in locked value. The Plutus community is concurrently working on other ecosystem products and the Plutus Chain, a proprietary blockchain, will be officially launching in 2021.
Why do we need another Swap?
While there’s already the well-known UNISWAP and its fork — Sushiswap with a governance token, Sushiswap didn’t provide improvements in the case of impermanent loss.
PlutusSwap aims to improve on this AMM design with an updated smart contract in future.
The key point, however, is to include this AMM directly into the already commercial and launched Plutus Capital App, which allows consumers to directly loan and earn incentives. The AMM solves a liquidity problem that arises from initial launch of new tokens in-app.
yPLT is a community initiative that wants to bring more value and incentives to existing and new community members. The crypto landscape is ever-changing — we see a need in adopting farming to incentivise more community members to be part of us, at the same time, to reward all of our early supporters in this project with our governance token, yPLT.
yPLT’s Team background
Team members are experienced blockchain practitioners in the industry
A community-driven project
Constant project updates with good community engagement, management across socials
Spawned from a community of people who are already on the lending app which further proves traction and use case
What’s the near-term roadmap?
After listing, yPLT will move into Genesis Mining. Soon after, the smart contract will be upgraded and the AMM function will be integrated into the current Plutus Lending app.
We are working towards getting listed on more exchanges and deployment of on-chain loans by the end of November.
What is PlutusSwap & yPLT bringing to the DeFi space?
Technically, there are numerous similar types of projects in crypto space, let alone in DeFi right now. The difference is in the team’s execution, the commitment of sticking till the end. yPLT project is incentivised to sustain long-term due to its relations with Plutus Capital, which already is a functioning ecosystem with the monetised lending app.
We will be releasing details on smart contract and other important updates on our social media channels in future. Don’t forget to follow us for the latest announcements!
About PlutusSwap
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.
Website: https://yplutus.finance Twitter: https://twitter.com/PlutusSwap Discord: https://discord.gg/5fKnTwx Telegram Channel: https://t.me/yplt_official Telegram Group: https://t.me/yplt_officialchat
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