PLUTOS NETWORK’S NOVELSWAP LAUNCH
Plutos Network, the foremost multi-chain-based DeFi Synthetic Network, is pleased to announce that NovelSwap, a next-generation DEX, will be launched on the Public Mint network. Public Mint is a full-featured blockchain network for fiat money, with funds fully secured and kept in regulated, FDIC-insured institutions.
The introduction of NovelSwap on Public Mint marks the start of a long-term partnership between the two firms. Collaborations between the two companies will also be expanded, with Plutos Network working with the Public Mint team in the future to incorporate Public Mint’s robust and user-friendly payment mechanism.
NovelSwap would be the first solution created on top of the Public Mint blockchain by an external developer, and it will provide Public Mint users with the first avenue to trade in their local USD. NovelSwap will be available for trading in the future for any project that opens on Public Mint.
NovelSwap is currently live on the Public Mint testnet, with a small set of beta testers stress-testing the DAppswap and offering useful input to the developer team. In less than a month, around the end of October, NovelSwap should be available on the Public Mint mainnet.
Among the benefits and features to be available by NovelSwap are:
- On the Public Mint blockchain, NovelSwap is the first and only DEX.
- A portion of the DEX trading charge will be used to purchase PLUT tokens.
- NovelSwap will take advantage of Public Mint’s set and low-cost gas fees, which are now $0.30 for buying and $0.53 for selling tokens. The gas fee is paid in USD and is constant regardless of the amount traded.
- The trading fee structure at NovelSwap is reasonable and fair. Sellers pay 0.5 percent of the transaction price, while purchasers pay nothing — ensuring a far more level playing field for the launch of new ventures by up-and-coming entrepreneurs.
- Due to Public Mint’s quick blockchain confirmation time and rapid finality, swaps on NovelSwap take only four seconds on average.
- Traders may quickly fund their wallets with USD using the Public Mint wallet’s direct link, which accepts bank transfers, credit cards, and wire transfers, as well as USDC deposits made through the company’s collaboration with Circle. Users can transfer cash directly from their wallets to their bank accounts after selling tokens; there is no need to go via some other exchange.
- The MINT-USD pair is NovelSwap’s first offering. They will explore releasing EUR/MINT and other trading pairs after Public Mint adds Euros and other fiat currencies to their network.
- A project’s liquidity is frozen once it deposits LP into NovelSwap. The period of the lock can be set by the project owner, and when it expires, it will be publicly published in the NovelSwap pair interface for anybody to check.
Juan Capilla, CEO of Plutos Network, had this to say:
“While we are seeing some leading public blockchains growing fast during the last quarter, Public Mint is one that we do see the very promising potential for massive adoption. By building NovelSwap on Public Mint, we will be able to offer the best trading services for PLUT traders.”
The co-founder and CTO of Public Mint, Jorge Pereira, had encouraging words to say about the partnership:
“We are thrilled to have the first independently-built project on our network, especially by such a reputable group like Plutos Network. Moreover, we’re excited about the potential of this partnership and we hope to take our collaboration to new heights in the near future.”
Plutos also intends to release NovelSwap on BSC and Ethereum in the near future, in addition to Public Mint.