Today we have some extremely exciting news to share with you all, but before we jump into what is likely to be Plutus’ most important announcement of all time, let’s set the stage with a brief look in the rear mirror… 🔙
Plutus originally began as a project to accumulate DPX governance power, however we swiftly pivoted to add some of the best Arbitrum projects under that umbrella. Our goal was — and still is — to indisputably wield the most governance power on Arbitrum, and then pass that power on to PLS lockers.
One coin to rule them all.
Every project we’ve set to accumulate, we’ve reached a significant governance position in. We’re in the early innings of all that value being transferred onto PLS lockers as the governance of those projects begin to finally come online. This is to say, we’ve managed to create a unique moat by front-running the best opportunities we’ve managed to identify before most even realize what’s happening.
With the imminent launch of ARB, we’ve identified what we believe is the biggest opportunity we’ve ever seen for Plutus. The addition of plsARB is an undeniably good fit — we are the number one Arbitrum-native governance blackhole after all. Through all of our research and discourse with the Arbitrum team, we’re convinced they take governance extremely seriously. This is important, as the level of commitment a project has to their governance is criteria number one for us — no governance larping allowed. A good place to begin to understand how seriously Arbitrum takes their governance is by diving into their DAO’s Constitution.
Excitingly, plsARB will be going live adjacent to the ARB airdrop on Thursday the 23rd of March. It will likely be the only place where you can earn yield on your ARB tokens! To sweeten the deal even further, the yield on plsARB will be paid in PLS with extra plsARB rewards! 🔥
The Value of Arbitrum Governance
There’s multiple ways we see that ARB’s governance power is going to be valuable. It’s important to note that the Arbitrum DAO holds actual power enforceable through smart contracts in an immutable way. We’ve listed some of our goals below in no particular order. In addition there’s quite a bit more to the broader plan — more on that at a later date. ⬇️
- Have influence in shaping the future of what we believe is the winner of the L2 competition
- Aim to become a key member of the 12-member Security Council
- Have a say in how the DAO Treasury is used in the future
- Become the biggest delegate on Arbitrum
- Influence the creation of new L2’s beyond Nova and Arbitrum One
We are Arbitrum maximalists through and through with a deep understanding of its vibrant ecosystem. At the end of the day it’s simple — Plutus has been on Arbitrum from the very beginning, and we have a strong interest in playing a central role in shaping the future of Arbitrum. We also believe that this governance power will be inherently valuable through the applications listed above.
To read more about how the governance for Arbitrum will function, we highly recommend carefully reading their governance docs here.
Sounds Amazing! How Can I Benefit?
With plsARB, users can instantly earn yield on their freshly airdropped ARB tokens. Note that Arbitrum doesn’t have a native staking function (at least yet), meaning that Plutus is likely the only place to earn dual-yield on your Arbitrum tokens through earning both PLS and plsARB rewards. Best of all, plsARB will be live the moment the ARB airdrop is claimable on the 23rd of March!
After claiming your airdrop, you can convert your ARB tokens into plsARB on our ‘Convert’ page. After converting, you can stake your plsARB on our ‘Stake’ page and begin earning yield on your tokens. Note that this conversion is one-way. As is standard procedure for Plutus, two months from launch of the plsARB single-staking pool we will be introducing a heavily incentivized liquidity pool for plsARB-ARB which users can then use to exit or enter plsARB. This boosted two-month period for single-staking is our way of rewarding early participants and stakers.
If you’re a long-term ARB holder, you’re unlikely to find a better deal anywhere else! All the underlying ARB tokens will be kept in the Plutus treasury forever and used to accumulate governance power, which will accrue to PLS lockers.
Conclusion
It’s an extraordinary week we’re looking at — not only for Plutus and Arbitrum, but the entire ecosystem. What has already been a flourishing chain is likely to blossom even further with the introduction of $ARB. As the number one governance aggregator on any L2, Plutus is looking to take a natural leading role in how Arbitrum develops through the accumulation of large amounts of governance power. This is our bread and butter that we know better than anyone else, and we could not be more excited.
See you in the plsARB pool! 👋
