Date : 2021-05-10
Vietnamese : @Daniel
The market of tokenized and crypto synthetics will grow exponentially, with an estimated 25-45% of TVL increase this year. Current platforms such as Synthetics are still small in terms of their proportion in the whole Defi world.
Compared to the size of the derivatives market in the traditional financial industry, there is huge potential for growth and a long way of development for crypto derivatives. Tokenized financial products will offer better solutions that will make these assets more accessible, secured when transacting, propertied.
In comparison to the current synthetic issuance and trading platforms such as Synthetix, Auctus, they only support the Ethereum network which has limitations such as high gas fees, low transaction, vulnerability during security breaches, etc.
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.
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 the current Defi derivative market to difficulties and limitations such as high gas fee, low transaction speed, the vulnerability of hacking such as flash loan, etc.
Users can earn rewards by Staking derivative assets.
Plutos is a one-stop platform for issuing and trading crypto derivatives.
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 be improved 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.
A Sub-parachain will be built to be the underlying module for communications with parachains on Polkadot. Plutos will enable fast communications through the module with various parachains such as Rococo etc. The component will be a valuable improvement to realize interoperability, scalability and fast transactions.
2/Marketplace for Derivative Issuance and Trading
The workflow of derivative issuance and trading on Plutos Network includes several key components:
Plutos Market for synthetic issuance and trading marketplace, 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 unleveraged products.
Users can convert 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.
3/Technical components include:
- Interoperability Layer
Plutos supports the decentralized multi-asset collateral and the issuance of synthetic assets based on multiple assets. By using Substrate and Polkadot under-layer technologies, Plutos Network will become a full-scale solution to limitations of interoperability for derivative platforms. To improve the user experience and increase user adoption, Plutos will also integrate BSC and Solana to accelerate the security, scalability and flexibility.
- Decentralized Multi-asset Collateral Pool
Plutos supports the multi-asset collateral service in a permissionless and decentralized manner. Users can deposit the supported assets such as ETH and DAI to issue the synthetic assets such as bonds and earn the highest interest on deposits & borrowed assets. Plutos also offers the lowest Collateral Ratio (C-ratio), thanks to the DAO Governance mode, full-scale security measures.
- Derivative Issuance and Trading
Plutos supports the issuance, trading and management of synthetic assets with the collateral of supported assets. Users can issue the customized derivative assets such as bonds to trade or raise funds in a decentralized way. User Dashboard will be launched after completion, where users can take a look at the records of their tradings.
Synthetix, Hegic, Perlin, Mirror
Total Supply: 100.000.000 PLUT
Blockchain: ETH, BSC, SOL, Polkadot (depending on Roadmap)
Type: Utility Token
- Ecosystem Growth: 15% of the total supply; reserved for marketing, partnership and exchange listing, vesting through 2 years
- Team & Advisors: 10% of the total supply; Lock-up for 3 months after TGE, then vesting through 2 years
- Liquidity Fund: 20% of the total supply; reserved for the fund for liquidity on Uniswap and other exchanges, vesting through 2 years. Unlocks to be decided by DAO Governance through voting.
- Mining Reserves: 35% of the total supply; reserved for the network incentives after the main-net launch. Unlocks to be decided by DAO Governance through voting.
- Fundraising: 20% of the total supply:
Allocation: 5% of the total supply
Release: 15% vesting on listing, linear vesting over 12 months for the rest starting from the 3rd month after TGE.
Allocation: 14% of the total supply
Release: 25% vesting on listing, linear vesting over 12 months for the rest starting from the 3rd month after TGE
Allocation: 1% of the total supply
Release: Full unlock
Initial MarketCap: $850k
- DAO Governance
Only the community members holding PLUT tokens have the right to participate in the governance of the entire network.
PLUT will be distributed to the users who issue and trade derivatives on the platform.
PLUT will be used as a commission medium to pay for the fees incurred during transactions.
Token supply deflation is a mechanism that ensures that the company can generate more demands for tokens in the market, and reduce supply at the same time.
Certain proportions of PLUT tokens will be bought back and burnt using the commission fees during the applications of derivative issuance and trading by our users. The buy-backs will be carried out on regular basis.
With increasing use cases and expanding user base, more values will be added to the ecosystem for sustainable and long-lasting growth.
-Preparation and Project Kick-off
-Start the development of Staking, Marketplace and Cross-chain Modules
-Alpha Launch of Plutos Staking & Plutos Pool
-IDO, TGE and Listings
-Migration to Polkadot
-Integration with BSC and Solana
-Alpha Launch of Plutos Market
-Continuous Business Development
-Ecosystem Building & Product Improvements
- Juan Capilla – CEO
Graduate of Economic and Business Sciences from the Complutense University of Madrid, a serial entrepreneur in both traditional financial industry and cryptocurrencies. Juan is also the Founder of the largest crypto mining company in Northern Spain.
- Leon Brasero – CTO
Leon’s studies include a BBA from Oviedo University in Spain and a Master in Financial Economics at the Erasmus University of Rotterdam. After working as a valuation and M&A advisor at EY and Philips, he worked as a quantitative trader focusing on derivative products (mainly options, futures and cryptos) in the European trading hub of Amsterdam. His ventures include a variety of automated strategies with a focus on correcting market inefficiencies.
- Gonzalo Vinuela – Marketing
Graduated in Business Administration and Management and with a Master’s degree in international trade and Chinese culture, having studied much of it at Zhejiang University.
Gonzalo began his professional career at the Inter-American Development Bank focusing on lending and strategic operations for Central American leading enterprises, before a stay in China where he was CEO of a trading company.
Plutos has more advanced than Synthetix due to new evolutions of technology:
– As a parachain on the Polkadot network, Plutos Network is a cross-chain synthetic issuance. Solana, Ethereum, Bitcoin chain, or any other famous chain can be integrated easily in the future.
– Collateral Ratio (C-ratio) is the lowest in the market at the moment. Thanks to DAO, any change proposals perceived can be changed easily by the voice of the community.
Plutos is promoted as a game-changer to the synthetic asset market soon.