September 07, 2021 12:58 ET | Source: Plutuswap
Manchester, UK, Sept. 07, 2021 (GLOBE NEWSWIRE) — The Cardano Ecosystem is about to witness a huge leap forward as they are gearing up for the smart contract upgrade through the Alonzo Hard Fork.
When fully deployed, it will be a systematic code that will create and deploy “smart contracts” on the Cardano blockchain making it possible for developers to build Dapps and existing projects to switch to the Cardano Blockchain.
Smart contracts are computer codes that will execute functions when predefined conditions are met, this will enable users to create new natively-supported tokens and further extend the usefulness of Cardano.
Therefore as a function, PlutuSwap will provide On Chain Cardano Custom fitted De-Fi solutions in a trustless and Decentralised manner.
PlutuSwap.com when fully launched will be a decentralized exchange using the Extended Automated Market Maker (EAMM) protocol as its backbone, built on the Cardano Blockchain Infrastructure utilizing the UTXO mechanism.
Automated Market marker (AMMs) use a peer-to-pool mechanism to calculate asset price algorithmically using a so-called conservation function, rather than matching the buy and sell sides. AMMs have the obvious advantages of decentralization, automation, and continuous liquidity over centralized exchanges.
Plutuswap is poised to set the bar 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 traders and liquidity providers alike while maintaining high security measures and standards.
The Plutuswap Ecosystem
The Plutuswap Ecosystem will be powered by its Cardano native utility governance Token $Plutu, which has a total supply of 100,000,000.
Its Ecosystem will also include, Stake Pools and Liquidity Provision, Novel Token Launch Mechanism and a Cross Chain Trading.
Holders of $PLUTU token will be able to stake their tokens as well as provide Liquidity and earn a portion of the fees associated with the liquidity pool.
Unique method of Launching Tokens
The Novel Token Launch Mechanism on Plutuswap will create a new and unique way of launching tokens on the cardano blockchain as this will allow anyone to easily establish their own tokens on the Cardano blockchain, followed by an automatic liquidity pool initialization making it possible to facilitate trades on the token immediately.
Cross Chain Trading on the PlutuSwap Ecosystem will give a boost to the The aggregation and cross swap functionality of the $Plutu Token.
Cross chain trading simply means swapping your native tokens for non-native ones without the use of a middleman, and it is done through smart contracts that can handle both or more types of tokens, this is done by utilizing token bridge as ERC-20 and BEP-20 Projects and tokens can easily bridge their tokens to the cardano blockchain.
With Cross Chain Trading, two different chains interact perform an automatic exchange of tokens when certain conditions are met.
This will build a fair and border-less trading network, and will be implemented on the Plutuswap Ecosystem before the end of fourth quarter of 2022.
Initial Stake Offering for Early Adopters is ongoing as you can be one of the first holders of the $PLUTU tokens.
Looking to become a holder of $PLUTU tokens? You can join the ISO.
Future plans are also in play as we plan to dominate the Cardano Network with Functional development of our Ecosystem.