Plenty is revolutionizing decentralized finance (DeFi) on the Tezos blockchain by creating a comprehensive, decentralized financial ecosystem. This platform empowers traders, liquidity providers, and developers to participate in an open financial marketplace, offering various opportunities for trading, staking, and governance. With its innovative features and user-centric approach, Plenty aims to overcome the limitations of centralized exchanges by providing a secure, transparent, and user-controlled environment. Dive into the world of Plenty DeFi and explore how it is shaping the future of finance on Tezos.
What is Plenty DeFi?
Plenty DeFi is a decentralized exchange (DEX) built on the Tezos blockchain that allows users to trade and earn additional income through voting, staking, and providing liquidity. The Plenty DeFi crypto token (PLENTY) is used within the Plenty ecosystem for various purposes, such as trading on the decentralized exchange, participating in governance decisions, and earning rewards through staking and liquidity provision.
Purpose and Utility of the Plenty DeFi Token
The primary purpose of the Plenty DeFi token is to solve the problems associated with centralized exchanges, which often face issues with security, transparency, and user control over their assets. By using a decentralized exchange built on the Tezos blockchain, Plenty DeFi provides a secure, transparent, and user-controlled platform for trading and earning income through various DeFi activities.
Additionally, Plenty Bridge allows users to bridge assets from Ethereum and Polygon to Tezos within five minutes, providing a seamless experience for users looking to take advantage of the Tezos blockchain's features and the Plenty DeFi ecosystem. Plenty Rollup is another feature that allows users to test the scalability, speed, and security of the future, further enhancing the utility of the Plenty DeFi token and ecosystem.
Tokenomics and Distribution Model
The Plenty DeFi crypto token (PLY) has a total supply of 1 billion tokens, with the distribution model designed to align rewards to beneficial actions and solve problems with current AMM designs where liquidity provision is temporarily subsidized while fee generation, a more sustainable incentives-generating mechanism, is not.
Token Distribution Model
The token distribution model of Plenty DeFi is as follows:
- Team: The exact percentage allocated to the team is not specified in the provided sources. However, it is mentioned that the token distribution is designed to encourage the team to take long-term positive decisions for the project.
- Investors: The token distribution model does not provide specific percentages allocated to investors. However, it is mentioned that the distribution is designed to consider the trade-offs and incentives for investors, ensuring that the vesting schedule does not allow for quick pump-and-dump schemes.
- Community: The community is a significant stakeholder in the Plenty DeFi token distribution model. The tokenomics are designed to incentivize sustainable yield farming on the Tezos blockchain, bringing more liquidity and users to DeFi on Tezos.
- Other stakeholders: The token distribution model includes other stakeholders such as liquidity providers, who earn PLY rewards by providing liquidity and staking LP tokens. Additionally, there is a ve model with two tokens, PLY and veNFT, which are used for voting and receiving trading fees and bribes related to specific liquidity pools.
Mechanisms to Control Inflation
The tokenomics of Plenty DeFi crypto token include a mechanism to control inflation through staking rewards. Users can mint a veNFT by locking PLY in a vote escrow (ve) lock for a specified duration. veNFTs are used for voting and can claim trading fees and bribes attached to the liquidity pool for the epoch (one week). In the next epoch, PLY emissions are distributed based on the vote weight of each gauge.
Additionally, veNFT holders receive a share of PLY emissions based on the circulating supply. Anytime the circulating supply increases through inflation, a proportional increase will be attributed to veNFT holders. This makes the value proposition of holding veNFTs more attractive, as it ensures that the value of their holdings is not diluted by inflation.
Market Data and Performance
Coin Statistics
- Current Price: $0.0155
- Market Cap: $0.00
- 24h Price Change: -1.18%
- 7d Price Change: -1.73%
- 30d Price Change: 21.02%
- 24h High: $0.0158
- 24h Low: $0.0154
- All-Time High: $2.9199 (2021-10-05)
- All-Time Low: $0.0106 (2023-06-10)
- Circulating Supply: 0.00
- Total Supply: 100,000,000.00
Team Behind Plenty DeFi
The Plenty DeFi crypto token is developed by the Plenty Network, which is a result of the merger between Plenty DeFi and Wrap Protocol. The Plenty Network team is responsible for creating a one-stop DeFi network on Tezos, which includes the Plenty DeFi platform and its token, PLY.
Core Team Members
- Jonas Lamis: Jonas is the founder and CEO of Plenty Labs. He has extensive experience in the blockchain and financial industries, having previously worked at JPMorgan Chase and founded the Tezos-based decentralized exchange Dartez.
- Matej Nemcek: Matej is the CTO of Plenty Labs. He has a strong background in software development and has previously worked at IBM, where he focused on blockchain technology.
- Michal Kovar: Michal is the CFO of Plenty Labs. He has a financial background and has previously worked at KPMG, where he specialized in financial audits and consulting.
- Jakub Kuchta: Jakub is the Head of Product at Plenty Labs. He has a background in product management and has previously worked at Google, where he focused on product development for financial services.
- Pavol Rusnak: Pavol is the Head of Engineering at Plenty Labs. He has a strong background in software development and has previously worked at PwC, where he focused on blockchain technology.
Advisors, Partners, and Investors
While specific details about advisors, partners, or investors involved with the Plenty platform are not provided in the sources, the team's ability to execute on their vision and deliver on their roadmap can be assessed based on their achievements.
Unique Features and Benefits
Governance
The Plenty token enables users to participate in the governance of the platform. By holding PLENTY tokens, users can vote on proposals and decisions that shape the future of the Plenty ecosystem. This democratic process ensures that the platform evolves according to the needs and preferences of its community.
Earning Income
The Plenty token allows users to earn additional income through staking and voting. Users can stake their PLENTY tokens to secure the network and earn rewards in return. Additionally, users can participate in liquidity mining by providing liquidity to the platform's pools and earning PLENTY tokens as a reward.
Trading
The Plenty token facilitates trading on the platform. Users can trade various assets, including other cryptocurrencies and tokens, on the Plenty DEX. The PLENTY token
