PLUTOS NETWORK PARTNERS WITH ALPACA FINANCE
Hello Plutos Community ‼️
The Plutos team is excited to announce a strategic partnership with Alpaca Finance. This recent development came at the end of November and promises to be quite profitable.
What is Alpaca Finance about ?
Alpaca Finance is the largest lending protocol on the Binance Smart Chain, allowing for leveraged yield farming. They specialize in assisting lenders in earning safe and stable yields, as well as providing borrowers with undercollateralized loans for leveraged yield farming positions, largely compounding their farming principals and resulting profits. For those who are new to this, yield farming is an innovative DeFi concept in which users stake or lend their crypto assets in exchange for returns. Leverage, in the context of yield farming, refers to borrowing assets to multiply your yield farming position, resulting in higher yields.
Alpacas will be able to stake ibALPACA for $94k USD in PLUT rewards, which will be distributed over 4 weeks in the Grazing Range, thanks to this collaboration between Alpaca Finance and Plutos Network. The pool became operational on November 30th, 2021 at 10:00 a.m. GMT so get your stake in right now ‼️ Beyond just staking, there is a possibility that Alpaca Finance may support a leveraged yield farming pool for PLUT in the near future but only if it meets the minimum liquidity requirements.
In the usual fashion for one of Alpaca’s Grazing Range pool, users will have the opportunity to earn exclusive NFTs if they meet the staking criteria. To be eligible, you must have staked ibALPACA in the PLUT Grazing Range pool before December 1st, 10 AM GMT (a day after the pool opened) and continued to stake until December 28th, 10 AM GMT (for 27 days). The NFT tier you receive will be determined by the amount of ibALPACA you have staked. To earn the Green Tier, you must have staked at least 500 ibALPACA; for Silver Tier, at least 5,000 ibALPACA; and for the Gold Tier, at least 50,000 ibALPACA.
More on the Grazing Range Reward
Total Rewards: 386,000 PLUT (~$94k USD)
PLUT Token: 0x2984f825bfe72e55e1725d5c020258e81ff97450
Rewards Period: 4+ weeks
Rewards Start Block: 13,082,600 (Approx. Nov 30th, 2021 10 AM GMT)
Rewards End Block: 13,889,000 (Approx. Dec 28th, 2021 10 AM GMT)
The PLUT Rewards will be distributed on a weekly basis with users having the chance to win 173700, 96500, 73340, and 42460 worth $42400, $23600, $17900, and $10400 respectively over the next 4 weeks. It’s really going to be an exciting time ‼️
About Plutos Network
Plutos Network is a multi-chain synthetic issuance & derivative trading platform which introduces mining incentives and staking rewards to users. By integrating blockchains such as Solana, Polkadot, and BSC, 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.