Plutos Network (PLUT) is a cross-chain synthetic issuance & derivative trading platform which introduces mining incentives and Staking rewards to users. By integrating Blockchains such as Polkadot, BSC and Solana, enabling on-chain and cross-chain liquidity and trading, Plutos Network is to offer users synthetic issuance and trading services for a wide range of synthetic products which are sustainable, profitable and disruptive to the traditional derivative market. What is Plutos Network (PLUT) | What is Plutos Network token | What is PLUT token
In this article, we'll discuss information about the Plutos Network project and PLUT token
What is Plutos Network?
Plutos Network is a cross-chain synthetic issuance & derivative trading platform which introduces mining incentives and Staking rewards to users. By integrating Blockchains such as Polkadot, BSC and Solana, enabling on-chain and cross-chain liquidity and trading, Plutos Network is to offer users synthetic issuance and trading services for a wide range of synthetic products which are sustainable, profitable and disruptive to the traditional derivative market.
What can Plutos offer?
With Plutos, all users can have access to synthetic assets from both traditional financial market and the crypto market. By enabling cross-chain and on-chain functionalities, Plutos will be able to deliver keynote features such as scalability, high interoperability, low cost of transactions, offering the perfect solution for current DeFi derivative market to difficulties and limitations such as high gas fee, low transaction speed, vulnerability of hacking such as flash loan etc.
What are the key product components of Plutos?
Users can earn rewards by Staking derivative assets on Plutos Network. The Staking service will be first built on Ethereum, and then migrate to Polkadot after the sub-parachain, OCW components are ready for deployment. The Staking service will soon be available on other leading Blockchains such as BSC and Solana.
Your One-stop platform for issuing and trading crypto derivatives. By applying AMM mechanism and enabling cross-chain wrapping function to build chain-bridges between mainstream assets of Blockchains including Ethereum, Polkadot, BSC and Solana, Plutos Market will be the marketplace when users can trade cross-chain derivatives with low cost, fast transaction and high security. In Plutos Market, users can trade derivatives such as contracts, options, swaps etc.
Through PLUT Staking and minting, integrating liquidity from leading DEXes such as Uniswap, 1inch, Balancer, PancakeSwap etc, Plutos Pool can offer infinite liquidity for users with the best trading experience and passive income. With Plutos Pool, slippage and will very much improved thanks to the liquidity integration and cross-chain liquidity pools. There will be no need for Liquidity Provider on Plutos Network. Users will only need to stake PLUT and mint assets such as pUSD to convert one asset to another or open long or short positions of leveraged contracts underlying various assets without any restriction.
What’s the cross-chain technical framework?
The workflow of derivative issuance and trading on Plutos Network include several key components: Plutos Market for synthetic issuance and trading marketplace, Plutos Multi-chain Asset Collateral Pool for aggregating all assets on Plutos Network, Integration with leading liquidity and swap protocols including Uniswap, 1inch, Pancake and more for infinite liquidity.
Plutos Market is a synthetic/derivative DEX without an order book. The dApp provides both leveraged and un-leveraged products. Users are able to converting one PLUT to another without worrying about how deep the liquidity nor slippage because the debt pool smart contract is backed by the staked collateral which plays the role of liquidity provider. Users are also able to be benefited by taking short or long positions with leverage.
How do Staking and Minting work at Plutos?
Plutos Pool is a pool created in the process of PLUT holders staking PLUT and minting assets including pUSD, pBTC, pETH etc. The pool acts as a liquidity provider, acting as the counter-party when trading pUSD to pBTC, for example. Therefore, it can be said that the liquidity is infinite. In other words, there is no worry for users over the lack of liquidity or slippage existing in traditional financial markets.
However, if all users only have pBTC and the BTC price rises by 50%, the total debt also increases by 50%. In this case, the collateral pool, the staking pool has the opposite position, pBTC sell (or inverse piBTC), so the buy/sell ratio plays an important role in the overall collateral ratio of the system. Plutos Network will increase the stability of the system by reducing the risk of various methods such as position hedge in the on/off chain for the position imbalance of the system.
Product variety can be maximized by virtue of the Pool design:
Under such framework, the use cases are expanded largely, including but not limited to the following:
The borrower does not need to bear risks of foreign exchange rates. For Bitcoin miners in Europe, their costs and fixed asset investment are denominated in euros, so the US dollar stable currency is very tasteless for them. Now, European miners can hedge against foreign exchange risks by collateralizing Bitcoin or Ethereum and lending EUX. This also applies to traders who settle profits in euros.
Multi-currency stablecoins provide convenience for traders to invest in the foreign exchange market. For example, when a trader is bearish on the U.S. dollar and bullish on the euro, he can lend the U.S. dollar and exchange it for the euro.
Low-friction global carry trading.
For depositors in the euro zone with negative interest rates, although the liquidity mining benefits of USD stablecoins are attractive, the frictional costs of carrying out carry trades are still high. The transaction party needs to first convert the euro into USDC or USDT, which will bring additional transaction costs and foreign exchange risks. The EUX currency pair will effectively reduce friction costs and provide convenience for Euro holders to participate in liquidity mining and use other DeFi protocols.
The global interest rate market.
Since market supply and demand is a dynamic adjustment process, the interest rates of USX and EUX will also change accordingly, thus creating an active global interest rate market.
The global foreign exchange market.
As the demand for multi-currency stablecoins increases, liquid currency pairs (scale, trading currency pairs) will gradually increase, and eventually a multi-currency global foreign exchange market will be formed.
You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...
We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step - Transfer your cryptos to an Altcoin Exchange
Since PLUT is an altcoin we need to transfer our coins to an exchange that PLUT can be traded. Below is a list of exchanges that offers to trade PLUT in various market pairs, head to their websites and register for an account.
Once finished you will then need to make a BTC/ETH/USDT/BNB deposit to the exchange from Binance depending on the available market pairs. After the deposit is confirmed you may then purchase ...... from the exchange: ................
The top exchange for trading in PLUT token is currently ..........
There are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once PLUT gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!
Top exchanges for token-coin trading. Follow instructions and make unlimited money
Find more information PLUT
🔺DISCLAIMER: The Information in the post isn't financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
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