$PLUT UTILITIES.
Tokens can also be referred to as crypto tokens. These are units of value that blockchain-based organizations or projects develop on top of existing blockchain networks. While they often share deep compatibility with the cryptocurrencies of that network, they are a wholly different digital asset class.
Cryptocurrencies are the native asset of a specific blockchain protocol, whereas tokens are created by platforms that build on top of those blockchains. For instance, the Ethereum blockchain’s native token is ether (ETH). While ether is the cryptocurrency native to the Ethereum blockchain, there are many other different tokens that also utilize the Ethereum blockchain.
Native tokens represent some value and act as an accounting unit, which can be used for payments, transactions, and can be sent to an exchange address.
For today, we will be talking about the native token of the PlutosNetwork.
$PLUT.
$PLUT is the native token of Plutos Network, which is used to pay for the transaction fees and synthetic issuance services and also for the deposits of any on-chain applications. Holders of $PLUT will be able to vote on proposals from the community and even decide how the ecosystem fund will be used in Plutos Network.
The following are the main uses or utilities of the native token, $PLUT:
1. Commission:
PLUT will be used as commission medium to pay for the fees incurred during transactions. Approximately 0.3% of the value is deducted from all synthetic trading volume and 0.03% of notional amount is charged for Plutos synthetic issuance including products like swaps, options and perpetuals. The fees are going to be sent to the fee pool.
2.Staking:
Users will only need to stake PLUT and mint assets such as pUSD to convert one asset to another or open long or short positions of leveraged contracts underlying various assets without any restriction.
Through PLUT Staking and minting, integrating liquidity from leading DEXes such as Uniswap, 1inch, Balancer, PancakeSwap etc, Plutos Pool can offer infinite liquidity for users with the best trading experience and passive income. With Plutos Pool, slippage and will very much improved thanks to the liquidity integration and cross-chain liquidity pools. There will be no need for Liquidity Provider on Plutos Network.
3. Governance:
Only the community members holding PLUT tokens have the right to participate in the governance of the entire network, including voting on the addition of sub-contracts or system upgrade proposals. In addition, PLUT holders can also make changes to the entire network by independently initiating community proposals, but they must also obtain the consent of more than 1/3 network nodes.
4. Rewards:
PLUT will be distributed to the users who issue and trade derivatives in the platform. Also, when users provide liquidity on Plutos in the process of Staking, rewards of PLUT tokens will be distributed according to a certain ratio.
Liquidity Providing:
Plutos Pool is a pool created in the process of $PLUT holders staking $PLUT and minting assets including pUSD, pBTC, pETH etc.
The pool acts as a liquidity provider, acting as the counter-party when trading pUSD to pBTC, for example. Therefore, it can be said that the liquidity is infinite. In other words, there is no worry for users over the lack of liquidity or slippage existing in traditional financial markets.
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