Plethori Progress Update | July 2021

Plethori shares a full update of the latest developments to Plethori’s ecosystem, including the most recent development achievement.

Plethori’s development team has now completed the backend infrastructure that will allow users to trade V1 ETFs, subject to security audits and full beta testing. This leaves the team in a position to now focus their efforts on building the ETFs themselves.

The platform’s user interface will allow investors to view aggregate ETF price metrics, as well as an updated feed of trade transactions so that they can make properly educated investing decisions.

Beyond a sleek design, the platform will also allow users to undergo advanced trading strategies through setting limit and stop loss orders. This will allow investors to help manage risk and optimize buying and selling prices.

The interface also integrates real time token related news and videos — thus showcasing all relevant content in one central location, so that users have an optimally convenient trading solution.

V1 ETFs

While Plethori’s development team have been working to complete the V1 ETF Exchange, the executive team have also been developing plans and talking to potential partners in relation to bringing the first of Plethori’s ETFs to market.

The team is aware of a number of investor groups with a desire to build and actively manage their own crypto-ETFs. The challenge they currently face is that centralized exchanges are highly regulated with sophisticated continuous disclosure reporting regimes, which are virtually impossible to comply with in a decentralized environment given the nature of many crypto projects.

Because Plethori’s ecosystem is being developed to accommodate both passive and actively managed ETFs, the team plans to create a number of Plethori curated passive ETFs which will be funded via bookbuilds. It is intended that the actively managed ETFs will be provided by professional managers, reducing their reliance on the centralized exchanges.

The team has been in early-stage discussion with a number of well-known ETF managers who have shown initial interest in constructing and managing Crypto ETFs utilizing the Plethori ecosystem. This will potentially allow V1 ETFs to be rolled out much more quickly than originally anticipated, opening the platform up to much higher volumes of transactions than Plethori could achieve on its own.

Farming Platform Update

The Plethori team is also pleased to announce that they have now finalized development of their farming contracts. Both front and backend development is expected to be completed by the 15th of July, after which the platform will undergo the standard beta testing and security audits by Solidity Finance. PLE holders can now look forward to utilizing Plethori’s Farming platform and gaining access to the generous rewards structure that has been put in place. All farmers will be able to earn a lucrative passive income in exchange for helping support Plethori’s Uni V2 Liquidity Pool.

The vaults and reward structure will be as follows:

11,750,000 PLE total supply will be distributed among 3 vaults, per the reward tiers below:

– Vault 1: 7 day lock / 100,000 PLE monthly

– Vault 2: 30 day lock / 200,000 PLE monthly

– Vault 3: 90 day lock / 300,000 PLE monthly

The locking periods refer to the time during which farmers will be unable to withdraw their LP tokens. Rewards will accrue on a daily basis and will be withdrawable at any time.

Staking Update

Lastly, the team has been working on a solution to address the high staking contract fees. Plethori can announce they have successfully identified a solution and this will be implemented shortly — keep an eye out for an update in the next couple of weeks!

Until then, the team would like to thank the community for its loyalty in supporting the shared goal of decentralizing ETF trading and creation.

What is Plethori?

Plethori is a Cryptocurrency ETF Investment Platform that allows open trading and creation of trustless ETFs by utilizing blockchain technology and layer 2 solutions. The platform offers decentralized cross-chain investment for exchange-traded funds built on the Ethereum and Polkadot blockchains. This service will allow investors to deposit capital and invest in a wide range of ETFs enabling investment into entire cryptocurrency industries such as insurance, oracles, NFTs, Derivatives, Polkadot ecosystem projects and many more.

📰 INFO:

https://medium.com/plethori/plethori-progress-update-july-2021-ca9529cda1a8