Place/Date: Manchester, UK - September 9th, 2021 at 6:51 pm UTC · 3 min read
Contact: PlutuSwap, Source: PlutuSwap
The Cardano Ecosystem is eagerly waiting and gearing up for the smart contract upgrade through the Alonzo Hard Fork, which will be a huge leap forward. The function behind the “smart contracts” will be a systematic code that will create and deploy them within the Cardano Blockchain; by doing so, this allows developers to transition their existing projects and build Dapps on the Cardano Blockchain.
In addition, the functions are executed by computer codes when predefined conditions are met, extending the usefulness of Cardano by enabling users to create new natively supported tokens.
PlutuSwap will provide custom-fitted De-Fi solutions in a trustless and decentralized manner while also not compromising security. When PlutuSwap.com is fully launched, it will be using the Extended Automated Market Maker (EAMM) protocol as its backbone, making it a decentralized exchange and utilizing the UTXO mechanism of the Cardano Blockchain Infrastructure it is built on.
To calculate asset price algorithmically using a so-called conversation function, a peer-to-pool mechanism is used by the Automated Market Markers (AMMs), rather than matching the buy and sell sides.
The advantages of using AMMs are plenty, such as decentralization, continuous liquidity over centralized exchanges, and automation. Plutuswap has gone to great lengths to raise the bar in their UI/UX experience for the Cardano De-Fi Ecosystem in terms of friendliness and simplicity in a single package.
Not to underestimate the efficiency of the product which mainly focuses on creating and providing a smooth and seamless end-to-end trading experience for traders and liquidity providers alike while maintaining high-security measures and standards.
The Cardano native utility governance token $Plutu will be powering the Plutuswap Ecosystem, which has a fixed supply of 100,000,000. In addition to its Ecosystem which comprises of Stake Pools and Liquidity Provision, Novel Token Launch Mechanism and Cross-Chain Trading will also be included.
One of the many benefits for $Plutu token holders is the ability to provide liquidity and earn a portion of the fees associated with the liquidity pool and stake their tokens.
There will be a new and unique way of launching tokens on Plutuswap with the integration of the Novel token Launch Mechanism on the Cardano Blockchain. The main benefit is facilitating trades on the token immediately, allowing users to seamlessly establish their tokens on the Cardano Blockchain, followed by an automatic liquidity pool initialization.
The Plutuswap Ecosystem will also have Cross-Chain Trading integrated, which boosts the aggregation and cross swap functionality of the $Plutu Token.
The primary purpose of Cross-Chain Trading is the ability for users to swap their native tokens for non-native ones, excluding the middleman. This is where smart contracts kicks-in, handling both or more types of tokens and is carried out by token bridge contracts, making it easy for ERC-20 and BEP-20 Projects to bridge their tokens to the Cardano Blockchain.
When certain conditions are met within Cross-Chain Trading, two different chains interact, performing an automatic exchange of tokens. The fair and border-less trading network implementation on the Plutuswap Ecosystem will be before the end of the fourth quarter of 2022.
Early Adopters are welcome to participate in the platform’s initial stake offering, as you can be one of the first holders of the $Plutu tokens. Are you looking to become a holder of $PLUTU tokens? You can join the ISO, more details on the website.
Plutuswap plans to dominate the Cardano Network with the Functional development of the Ecosystem in the coming future.