Pluto Protocol was designed to safely work as a universal investment during the bear market. More than $1M worth of stablecoins have been added to the Pluto treasury since launch, issuing 700,000 PLUTO tokens.
As a treasury-based reserve currency, Pluto aims to support the Waves ecosystem development and expand the DeFi investment possibilities for users.
This proposal recommends an algorithm update to allow PLUTO minting with WAVES tokens without significant risks to the treasury. This update will create more utility for WAVES tokens and help increase the Neutrino Backed Ratio (BR).
We are proud to announce the launch of the unique design of a treasury-based reserve currency - the Pluto protocol is live!
We are launching the protocol at an extraordinary time: it is the middle of the harshest crypto-winter ever, assets in the green zone in the entire market could be counted on one hand and there used to be no coin, which looked like a solid investment. But when math comes into play no bearish sentiment can resist: the logic behind Pluto is well calculated, so this coin should rise even if the things go south for all other crypto.
The treasury is the core of the Pluto protocol, the key objective of which is the growth of the collateral value per one PLUTO token. The market-making algorithm ensures that the market price is between this value and the maximal price, which is a collateral per token multiplied by three. The onboarding mechanics builds up the treasury and increases PLUTO's backed price, and staking incentivizes participants to buy and hold Pluto as a long-time investment.
Pluto is an innovative reserve currency design. It is a financial instrument resistant to bear markets that provides long-term and planned growth in the market price of an asset.
The main metric of the protocol is the growth of the collateral value of each PLUTO token.
The collateral is implemented by the Treasury, where parameters are controlled by voting, and can also change automatically depending on market figures. The mathematical model of Pluto is mostly focused on Treasury growth. It is built with this objective in mind.
Pluto Protocol has launched its core token, PLUTO, designed to be a reserve currency resistant to bear markets. You can now exchange Waves-based tokens into PLUTO across three decentralized exchanges: Waves Exchange, Puzzle Swap, and SwopFi. The token launch is the first step, with the launch of the Pluto Protocol coming later this week.
The Pluto token gets its value from the collateral held in the treasury, so minting the first PLUTO tokens is necessary before launching the protocol. Once the protocol launches, users can use their PLUTO tokens to earn additional rewards via staking.
PLUTO token is on sale on three decentralized exchanges: Waves Exchange, Puzzle Swap, and Swop.fi. Users can get PLUTO by exchanging USDN or USDT.
This article covers the process of launching and placing in orbit the Pluto reserve currency, a DeFi-innovation on Waves blockchain. You can read more about its mechanics in the White Paper.
Launching the protocol implies the need for initial Treasury in order to establish the basic Backed Price. The Treasury will be raised by means of PLUTO pre-sale, the so-called minting operation. The optimal size of the initial Treasury is 1 million USDN.
Estimate: July 7-13