PlutuSwap Aims To Be The Next Big DEX On The Cardano Blockchain
The Cardano Ecosystem is ready to take a giant step ahead as it prepares for the Alonzo Hard Fork, which will bring about smart contract functionality.
When fully launched, it will be a framework for creating and deploying “smart contracts” on the Cardano blockchain, allowing developers to create Dapps and existing applications to migrate to the Cardano Blockchain.
Smart contracts are computer programs that execute actions when certain conditions are met. This will let users build additional tokens that are natively supported, extending Cardano’s utility.
When fully operational, PlutuSwap.com will be a decentralized exchange based on the Extended Automated Market Maker (EAMM) protocol and powered by the Cardano Blockchain Infra-structure’s UTXO mechanism.
PlutuSwap will give On Chain Cardano Custom Fit De-Fi solutions in a trustless and decentralized manner. Instead of matching the buy and sell sides in a normal centralized exchange environment, Automated Market Markers (AMMs) employ a peer-to-pool technique to compute asset price algorithmically using a so-called conservation function.
AMMs have apparent advantages over centralized exchanges in terms of decentralization, automation, and constant liquidity provision.
Plutuswap is poised to set the standard for the Cardano De-Fi Ecosystem in terms of UI/UX friendliness, combining simplicity and reliability in a single package, as well as an efficient product that will focus on creating seamless and smooth trading experiences for both traders and liquidity providers while at the same time maintaining high-security measures and standards that is synonymous with the Cardano blockchain.
The Plutuswap Ecosystem will be powered by $Plutu, the platform’s native utility governance token with a total supply of 100,000,000.
Stake Pools, Liquidity Provision, Novel Token Launch Mechanism, and Cross-Chain Trading will all be part of the Plutuswap Ecosystem.
The Plutuswap Novel Token Launch Mechanism will develop a new and unique means of launching tokens on the Cardano blockchain, allowing anybody to create their tokens on the Cardano blockchain, followed by an automatic liquidity pool initialization, allowing for immediate token transactions.
The aggregation and cross swap capabilities of the plutuswap protocol will be boosted thanks to its cross-chain trading and token bridges.
Cross-chain trade is simply swapping your native tokens for non-native ones without the use of an intermediary.
It is done by utilizing smart contracts that can handle both or more types of tokens such as ERC-20 and BEP-20 as project founders and developers can easily bridge their tokens to the Cardano blockchain.
When two distinct chains interact, the automatic exchange of tokens is performed when certain circumstances are met. This will create a fair and borderless trading network, which will be implemented on the Plutuswap Ecosystem by the end of 2022.
You can be one of the first holders of the $PLUTU tokens by participating in the ongoing Initial Stake Offering for Early Adopters. Are you interested in purchasing $PLUTU tokens? You can participate in the ISO.
Future ideas are also in the works. We aim to dominate the Cardano Network through the growth of our Ecosystem’s functionality.
Release ID: 89044974