The yPLT Introduction — Decentralised Finance for the masses yPLT简介-大众划分散式金融

Decentralised Wealth: In God, We Trust 分散财富: 信仰上帝

For centuries, humanity has been oppressed by the financial systems imposed upon them. Not by choice, but by association with the state and its financial foundations, typically archaic and draconian, driven by a collective few for the majority. The wealth divide has never been bigger, and the top 1% of wealth dictates the economic prosperity of the rest through the banking system. This forms an artificial barrier to true financial freedom for the masses.

However, just like the official USA motto printed on the American dollar bill- “In God, We Trust.” Plutus was the Greek God of Wealth, blinded by Zeus so that he would distribute wealth indiscriminately and not favour the good. As mentioned above, the existing global centralised finance system is flawed and unfair, resulting in exploitation of the underprivileged. As devoted followers of the great god, Plutus, we decided to step in and stop the egregious abuse of financial rights.

God Sent — Plutus Capital
Plutus Capital allows billions of underprivileged access to financial services and frees up existing financial slavery to give you true financial freedom. Since 2019, Plutus Capital has developed many ecosystem products and continues to conduct robust testing on the Plutus Chain, preparing for a major launch in 2021. Plutus Capital has also launched an impactful FinTech product in the Plutus lending app, exposing the community to a plethora of DeFi products.

Plutus Capital has always been ahead of the rest who recently jumped on the DeFi trend in building the #1 DeFi economy. Despite various projects attempting to replicate Plutus Capital’s vision as their own, there is only one true Plutus in Decentralised Finance.

What is Plutus Swap and yPLT?
The DeFi sector has taken the world by storm in 2020, with the TVL (Total Locked Value) inching towards US$9 billion (as of 15th Sept) and yield farming, being the most popular incentive mechanism, has garnered tremendous attention. Seeing the recent growth in yield farming and AMMs within the DeFi space, we, as the Plutus Capital community have decided to launch our own AMM based on Plutus Capital vision. Presenting to you, Plutus Swap & yPLT.

yPLT will be the governance token for Plutus Swap. yPLT token holders have the right to vote on proposals and decide on future development. Users on PlutusSwap will be able to farm yPLT by staking LP tokens from UNISWAP. Although we believe in the value of Plutus Capital, the existing community was not able to leverage on existing product offering to reap the benefit of AMM.

What is an AMM?
An AMM (Automated Market Maker) based exchange protocol like UNISWAP relies on smart contracts and liquidity pools to auto-execute swap between two pairs. In a centralized exchange, such as Binance, the price of a cryptocurrency is determined by the price where buyer bid and seller ask price meet. Eg. If the buyer bid $5 for yPLT but the seller is asking for $6, the trade will not go through unless the buyer increases the bid price or seller reduces the ask price. If the ask and bid price is not met, there will not be liquidity for the trading pair.

Unlike the existing bid/ask system to fulfil trades on centralised exchanges, AMM based exchanges use a DEX (Decentralised Exchange) protocol to pool two different tokens and allow users to trade/swap one token for the other. Users will not need to wait for a counter-party to accept an offer or specify a price in order to execute a trade.

For example, if someone wants to swap yPLT with ETH, the smart contract will send the ETH to the liquidity pool, before calculating and sending back the equivalent value of yPLT from the liquidity. The amount that is returned from swapping is based on UNISWAP automated market maker formula, which is based on the ratio of Ether to yPLT in the pool. As a constant product market maker, each token swap that UNISWAP facilitates results in a price adjustment according to a deterministic pricing algorithm, x*y=k.

Based on the graph shown above, no matter the size of a swap, the user is guaranteed to have their trade executed because the more of an asset that you add to one side of the pool, the further along the curve it pushes you for the other asset. That means the larger the order relative to the liquidity pool, the worst rate the user will receive as the ratio moves along the curve.

You will probably be wondering if all users swap just one token in the pairing, doesn’t it mean that the pool will eventually run out of funds for the other pairing. This is where the arbitrage traders step in to solve this issue.

Let’s take USDT/ETH pairing for example-
If the current price for ETH in USD on a centralized exchange is $400,
The initial ratio on UNISWAP or SUSHISWAP USDT:ETH pool returns 400 USDT for 1 ETH as the liquidity provider will contribute the equivalent value of USDT and ETH into the liquidity pool.

In the event when the market pushes the price of ETH to $300 on centralized exchanges, the swap ratio on UNISWAP or SUSHISWAP will be off balance relative to the market price because users can now swap 1 ETH for 400 USDT on Uniswap when the market price on a centralized exchange is $300 for 1 ETH. Users who swap ETH for USDT on UNISWAP or SUSHISWAP will earn $100 as compared to selling on centralised exchanges. Now the liquidity pool has more USDT than ETH.

That being said, there is an arbitrage opportunity on UNISWAP now. Users who swapped ETH for USDT can now withdraw the USDT to a centralised exchange and buy more ETH at a cheaper price before sending it back to UNISWAP or SUSHISWAP. They can then swap ETH again in exchange for USDT and repeat the process. Do remember that UNISWAP or SUSHISWAP algorithm, x*y=k asymptotically increases the price of the token as the desired quantity increases. Therefore, the quantity of ETH and USDT in the liquidity pool will eventually balance out.

If UniSwap exists, why the need for PlutusSwap?
One of the major problems of current AMM is the issue of impermanent loss. We are working on new mechanics that will reduce impermanent loss. This will be introduced with our smart contract upgrade with an improved AMM design in the future. Technical paper will be released upon completion.

We will also be migrating from ERC20 to our own proprietary blockchain, Plutus Chain in the future. Plutus Chain developers are currently working on this. Deployed testnet in May 2020, mainnet launch is projected to be completed by Q2 2021.

We will make an official announcement once the Plutus Chain mainnet is ready!

For more information regarding Plutus Chain, you may refer to Github: https://github.com/PlutusCapital/plutus

Plutus Chain Video Demo:
https://vimeo.com/382021972

The goal of yPLT at its genesis mining stage is to achieve equitable distribution to the community before launching the mainnet. yPLT is a community initiative that wants to bring more value and incentives to existing and new community members. The crypto landscape is ever-changing — we see a need in adopting farming to incentivise more community members to be part of us, at the same time, to reward all of our early supporters in this project with our governance token, yPLT.

Furthermore, unlike many other AMM out there, we already have an existing application with an existing community of users and developers with the same vision.

Will PlutusSwap and Plutus Capital be integrated with one another?
After launch, PlutusSwap will be integrating PLT into the ecosystem and yPLT will be integrated into Plutus Capital commercialised mobile application. There are over 1500 Monthly Active Users (MAU) on Plutus Capital Lending app, allowing users to lend, borrow and earn interest.

As for PlutusSwap integration with Plutus Capital, we will be implementing the AMM into the existing app, leveraging on the efficiency of an AMM system instead of using a traditional order book or arbitraging from the various exchanges in order for the lending function to work. Since we all belong to the same community, we will definitely keep everything in house and leverage on the strength of one another to build a seamless ecosystem. (eg, Community/App of Plutus Capital & Technical aspect of PlutusSwap). Harnessing on the power of DeFi!

How many yPLT will be created at every block?
90% of lifetime supply of yPLT will be distributed by liquidity mining. 10% is created on genesis for presale, initial liquidity for Uniswap listing and the remaining yPLT will be sent to a time-lock contract for 30 days. yPLT tokens holders get to propose and vote on how to allocate the locked yPLT.

The total maximum supply of yPLT is 100,000,000, 90% will be released in about 8 years through mining.

95% of yPLT released by mining is distributed to users and 5% is reserved for the development team. Mining will be divided into 5 stages:

yPLT is mined every Ethereum block (around ~ 20 seconds a block)

Below is the schedule of mining=>

Genesis Mining: 100 yPLT/block, total 50,000 blocks(~7 days)

Stage 1:10 yPLT/block, total 5,000,000 blocks(~1.9 years)

Stage 2:5 yPLT/block, total 5,000,000 blocks(~1.9 years)

Stage 3:2.5 yPLT/block, total 5,000,000 blocks(~1.9 years)

Stage 4:1.25 yPLT/block, total 5,000,000 blocks(~1.9 years)

There will be 10 Liquidity Pools on Plutus Swap, any Uniswap LP Token holder can stake these LP Tokens into our pools. The yPLT mined will be distributed among the 10 Liquidity pools, with the yPLT/ETH and yPLT/USDT having 10x the rewards.

Genesis mining starts on 7th October (at Ethereum Block Height 11009000).

What are the initial sets of pools on Plutus Swap?

Uniswap LP yPLT/ETH (x10 rewards)

Uniswap LP yPLT/USDT (x10 rewards)

Uniswap LP USDT/ETH

Uniswap LP USDC/ETH

Uniswap LP UNI/ETH

Uniswap LP PICKLE/ETH

UNIswap LP Core/ETH

Uniswap LP AMPL/ETH

Uniswap LP LINK/ETH

Active development for yPLT has been undergoing for 2 months, with the presale starting on 2nd Oct 2020. UniSwap listing and PlutusSwap launch on 7th October.

yPLT Phase 1 Roadmap

The launch of yPLT is expected to not just bring significant value to the Plutus Capital’s community and ecosystem but also contribute to bringing decentralised wealth back in the hands of the DeFi believers.

With the advent of technology and great leaps taken by innovative developers, the concept of a decentralised ledger, and consequently a decentralised currency began to bear fruit (not food). First Bitcoin. Then Plutus.

Who is behind yPLT?
Since 2015, we have been a diverse group of pragmatic individuals and idealists. We believe that the key to unlocking economic equality, prosperity and financial freedom lies in developing strong Fintech use-cases on cutting-edge Distributed Ledger Technology. Most importantly, we are neither a chef nor food. We aspire to bank the unbanked, bringing fundamental financial rights to billions of individuals across the globe. We want to unbank the banked, stripping away the financial prison that many in the first world are enslaved to.

We are the followers of the great Plutus.

Website: https://yplutus.finance
Twitter: https://twitter.com/PlutusSwap
Discord: https://discord.gg/5fKnTwx
Telegram Channel: https://t.me/yplt_official
Telegram Group: https://t.me/yplt_officialchat

几个世纪以来,人类一直受到金融体系的压迫。不是出于选择,而是与国家及其财政基础的联系,通常是古老而严厉的,由少数人为多数人所驱动。财富差距从未如此之大,财富的前1%通过银行体系决定了其他国家的经济繁荣。这对大众真正的金融自由形成了人为的障碍。

然而,正如印在美元钞票上的美国官方座右铭:“我们相信上帝。”Plutus是希腊的财神,被宙斯蒙蔽了双眼,因此他会不分青红皂白地分配财富,而不偏袒好人。如上所述,现有的全球集中金融体系存在缺陷和不公平,导致了对弱势群体的剥削。作为伟大的上帝Plutus的忠实追随者,我们决定介入并停止对金融权利的过分滥用。

上帝派来的-普利拓斯资本

普利拓斯资本允许数十亿贫困人口获得金融服务,从而鼓励真正的金融自由。自2019年以来,普利拓斯资本开发了许多生态系统产品,并继续对普利拓斯链进行稳健测试,为2021年的重大上市做准备。普利拓斯资本还在P普利拓斯借贷应用程序中推出了一款极具影响力的金融科技产品,让社区接触到过多的分散式金融产品。

普利拓斯资本一直走在分散式金融发展的前沿。尽管有各种各样的项目试图将普利拓斯资本的愿景复制为自己的愿景,但在分散式金融领域,只有一个真正的普利拓斯。

什么是 PlutusSwap 和 yPLT?

在2020年,分散化金融行业风靡全球,总锁定价值逐渐接近90亿美元(截至9月15日),而作为最受欢迎的激励机制的收益耕种也受到了极大的关注。鉴于分散式金融空间内收益耕种的最近增长,作为普利图斯资本社区,决定根据我们的愿景推出自己的收益耕种农场。呈现给你,PlutusSwap 和 yPLT。

yPLT将成为PlutusSwap的管理代币,PlutusSwap上的用户可以通过质押UNISWAP的LP代币来耕种yPLT。任何人都可以交换代币,将代币添加到流动资金池以赚取费用。尽管我们相信普利拓斯资本PLT代币的价值,但社区无法利用现有的产品提供来获得高产耕种的收益。

UNISWAP依靠智能合约和流动资金池自动执行两对之间的交换。在Binance等集中式交换中,加密货币的价格由买方出价和卖方要价相遇的价格决定。如果买方出价5美元购买yPLT,而卖方要求6美元,除非买方提高出价或卖方降低要价,否则交易将无法进行。如果卖价和买入价不符,交易对就没有流动性。

与现有的在集中交易所进行交易的买卖系统不同,基于AMM的交易所Plutus Swap使用分散交易协议来汇集两种不同的代币,并允许用户用一种代币交换另一种代币。用户无需等待交易对手接受报价或指定价格来执行交易。

例如,如果有人想用ETH交换yPLT,智能合约将把ETH发送到流动资金池,然后再从流动资金池中计算并返回yPLT的等价值。从交换中返回的金额基于UNISWAP自动做市商公式,该公式基于流动资金池中ETH与yPLT的比率。作为一个固定的产品做市商,UNISWAP促成的每个代币交换都会根据确定性定价算法x*y=k进行价格调整。

根据上面所示的图表,无论交换的规模如何,用户都可以保证他们的交易得到执行,因为你向流动资金池的一侧添加的资产越多,它就越能推动你去购买另一种资产。这意味着相对于流动性池的订单越大,当比率沿着曲线移动时,用户将收到的最差利率。

你可能会想,如果所有的用户都只交换配对中的一个代币,这不意味着池中的资金最终会用光另一个配对吗? 这就是套利交易者介入解决这个问题的地方。

以USDT/ETH配对为例-

如果在集中交易所,以太币的美元现价是400美元, UNISWAP中的初始比率USDT:ETH流动资金池返回400USDT:1ETH,因为流动性提供者将向流动资金池贡献相当于USDT和ETH的价值。

如果市场将集中交易所的以太币价格推高至300美元,那么UNISWAP的交换比率将与市场价格不平衡,因为当集中交易所的市场价格为1ETH:300USDT时,用户现在可以在UNISWAP上用1ETH换400USDT。在UNISWAP上用ETH交换USDT的用户将获得100美元的收入。现在,流动资金池中的美元兑换率超过了以太币。

尽管如此,现在在UNISWAP上存在套利机会。将以太币换成美元兑美元币的用户现在可以把美元兑美元兑成一家交易所,以更便宜的价格购买更多以太币,然后再将其送回UNISWAP。然后,他们可以再次用以太币交换美元,并重复这个过程。请记住,UNISWAP算法,x*y=k会随着所需数量的增加而逐渐增加代币的价格。因此,流动性池中ETH和USDT的数量最终会平衡。

每区块将创建多少个yPLT?

yPLT 90%的终身供应将通过流动资金采矿进行分配。10%是在创世块上创建的,用于售前和流动资金。

yPLT总量为100,000,000,将在8年左右通过采矿释放。

yPLT的95%由开发团队分配给开发用户。采矿分为5个阶段:

yPLT在以太坊的每个区块都被采矿(每区块大约20秒)

以下是采矿时间表=>

成因采矿:100 yPLT/区块,总计50,000个区块(约7天)

第1阶段:10 yPLT/区块,总计5,000,000区块(约1.9年)

第2阶段:5 yPLT/区块,总计5,000,000区块(约1.9年)

第3阶段:2.5 yPLT/区块,总计5,000,000区块(约1.9年)

第4阶段:1.25 yPLT/区块,总计5,000,000区块(约1.9年)

为了鼓励国际用户,代币分销设计将帮助现有的Uniswap流动性提供商更容易地开始迁移到PlutusSwap。PlutusSwap将有10个流动资金池,任何Uniswap LP代币持有人都可以将这些LP代币放入PlutusSwap的流动资金池中。开采的yPLT将分布在10个流动资金池中,yPLT/USDT 和 yPLT/ETH有10倍的回报。

创世块日期是10月。

Plutus Swap 的初始流动资金池是什么?

Uniswap LP yPLT/ETH (x10奖励)

Uniswap LP yPLT/USDT (x10奖励)

Uniswap LP USDT/ETH

Uniswap LP USDC/ETH

Uniswap LP UNI/ETH

Uniswap LP PICKLE/ETH

UNIswap LP Core/ETH

Uniswap LP AMPL/ETH

Uniswap LP LINK/ETH

yPLT的积极开发已经进行了2个月,并于2020年9月30日启动。

yPLT的推出不仅将为普利拓斯资本的社区和生态系统带来重大价值,而且还将有助于将财富重新掌握在分散式金融信徒手中。

随着技术的出现和创新开发者的巨大飞跃,分散化账本的概念以及由此而来的分散货币开始产生成果。首先,比特币。然后,普利拓斯。

yPLT的创始团队是谁?

自2015年以来,我们一直是一群务实的个人和理想主义者。我们相信,开启经济平等、繁荣和金融自由的关键在于在尖端分布式账本技术上开发强大的金融科技用例。最重要的是,我们既不是厨师,也不是食物。我们渴望为无银行的人提供银行服务,为全球数十亿个人带来基本的金融权利。

我们是伟大的普利拓斯的追随者。

网站:https://yplutus.finance/

推特:https://twitter.com/PlutusSwap

Discord:https://discord.gg/5fKnTwx

电报频道:https://t.me/yplt_official

电报组:https://t.me/yplt_officialchat

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As devoted followers of the god of wealth, Plutus, we are here to disrupt the egregious abuse of financial rights by distributing wealth to the mass with $yPLT.

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