PLUTOS NETWORK SYNTHETIC SYSTEM V2.0
Hey guys, heard the news yet ?! Plutos Network has launched their Synthetic Platform V2.0 ‼️
In the month of October, Plutos Network launched the Plutos Network Synthetic System V1.0 to users. The version was first deployed on Ropsten to rigorously test the product design and platform, and also to ensure that it was bug-free and not needing any extra corrections before becoming fully operational on Ethereum. It was made available for user testing too with the option for users to drop feedback as they interacted with the platform. Their suggestions were welcome as Plutos sought to make the platform a user-friendly space. To aid in this venture, Plutos launched the Bounty Program with a grand prize of $10,000 in PLUT for users with the best suggestions for product improvement.
Now, Plutos has released the Plutos Network Synthetic System V2.0 with even more features and rewards.
FEATURES OF PLUTOS NETWORK SYNTHETIC SYSTEM V2.0
- Completion of the Android and iOS adaptations which gives users the ability to use the system on mobile devices by connecting MetaMask App and WalletConnect.
- Borrowing is automated when users deposit collateral. Users will only need to make one deposit after combining “Borrow” and “Deposit,” and the system will handle the rest. The automation means that when users borrow pUSD by depositing PLUT tokens as collateral, the C-ratio will change based on the price fluctuations of PLUT in the market. When the C-ratio falls below 300 percent, the assets are placed on the “Liquidate List”. Furthermore, there has been an optimisation of the UI design.
IN TERMS OF REWARDS,
The Synthetic System V2.0 enables Mint Rewards when users make a deposit. Users also gain farm and staking rewards, as well as rewards from the “Liquidate List”
The team will begin migrating to Solana and incorporating more leading chains such as Terra, Polygon, and others in Q4 of this year, as planned in the Roadmap.
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.