Place/Date: Singapore - October 29th, 2022 at 9:19 am UTC · 3 min read
XT.COM, the world’s first socially infused trading platform, is thrilled to announce the listing of PLI on its platform in the Main & Web3 zone and both the PLI/USDT and PLI/BTC trading pairs will be open for trading from 2022-10-29 10:00 (UTC).
PLI token is an XRC20 token and part of the XDC ecosystem. The PLUGIN utility token would serve as a part of the payment system on the PLUGIN platform. Users requesting data would have to make payments in Plugin’s PLI tokens as a fee to the client contract. The farmer hosting node would also receive payments in Plugin PLI tokens. Users who want to utilize the data feed from the Plugin Ecosystem would have to purchase PLI tokens on exchanges. Before users request data or any value of assets from the data feed, they have to fund the contract using their XinPay wallet.
There are 500 Million tokens existing as PLI’s total supply. When PLUGIN is the industry-standard oracle service provider; there will be a high demand for PLI tokens to fulfill contract requests. Additionally, the Proof of Burn mechanic functions to eliminate tokens from circulating supply so there needs to be a constant allowance of new PLI tokens created.
The Plugin network is a decentralized Oracle platform with the core objective to provide cost effective solutions for Smart Contracts on the XDC network ecosystem. Plugin ensures that external, off-chain information required for Smart Contracts is obtained from multiple, reputable sources in a decentralized and secure manner. The decentralized oracle network helps eliminate single points of failure in regards to real-time data inputs for Smart contracts that depend on it. The Plugin decentralized oracles network is designed to not only enhance, but extend the capabilities of smart contracts by applying three basic resources in computing systems: networking, storage, and computation.
The supporting attributes which make the Plugin decentralized oracle network possible include: High level of security, decentralized architecture to ensure single points of failure do not occur, censorship resistance, preventative measure to ensure malicious acts do not occur, and a user friendly interface for ease of development and operation. Plugin is also committed to DeFi applications including: Decentralized insurance, Stable currencies, decentralized prediction markets, decentralized synthetic assets, decentralized exchanges and derivatives trading, and a decentralized identity system.
By consistently expanding its ecosystem, XT.COM is dedicated to providing users with the most secure, trusted, and hassle-free digital asset trading services. Our exchange is built from a desire to give everyone access to digital assets regardless where you are.
Founded in 2018, XT.COM now serves more than 6 million registered users, over 500,000+ monthly active users and 40+ million users in the ecosystem. Covering a rich variety of trading categories together with an NFT aggregated marketplace, our platform strives to cater to its large user base by providing a secure, trusted and intuitive trading experience.
As the world’s first social-infused digital assets trading platform, XT.COM also supports social networking platform based transactions to make our crypto services more accessible to users all over the world. Furthermore, to ensure optimal data integrity and security, we see user security as our top priority at XT.COM.
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