Aurigami
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Aurigami

PLY Token Launch

It’s the moment that many of us have been waiting for.

Aurigami (PLY) token has now taken flight and is now live for trading 🚀

Since launching on the Aurora mainnet ~2 months ago, Aurigami has experienced tremendous growth, amassing over $500m as the TVL leader and more than $900m in liquidity. As with any new chains, having a strong money market is crucial in cultivating a bustling economy, and we’re proud to be leading the charge in establishing the foundation for the Near/Aurora DeFi ecosystem to flourish.

Source: DefiLlama

PLY Token Launch

As mentioned, one of Aurigami’s North Star is to supercharge the growth of the Near/Aurora ecosystem. With this in mind, we decided to partner up with 3 renowned launchpads, Bybit, Kucoin and Impossible Finance, for the distribution of PLY. Having 3 top-tier exchanges/venues helped to ensure the greatest outreach and accessibility to attract more liquidity and users.

With a starting valuation of $50m, users also had the rare opportunity of participating in the token distribution at the same price as our esteemed VCs and angel investors, the ranks of which include Polychain Capital, Dragonfly Capital, Jump Crypto, Coinbase Ventures, Mechanism Capital and more.

Since then, PLY has gone live and is now trading on 2 of the leading centralized exchanges in the world — Bybit and Kucoin.

In addition to Bybit and Kucoin, PLY was also launched on Trisolaris using Rift’s liquidity infrastructure in partnership with NEAR Foundation, ensuring PLY liquidity through a PLY/NEAR pool for the Aurora community.

So what is PLY?

Just like Aave’s AAVE, Solend’s SLND, and Benqi’s QI tokens, PLY is Aurigami’s governance and utility token. One of the beauties of DeFi is the communal governance of protocols by the collective intelligence of all stakeholders. The end-result is a more user-driven direction and product that is much in the spirit of Origami, where the final art piece is always more than the sum of its parts.

With PLY, you will get to experience this and become a part of Aurigami. It’s no secret that part of Aurigami’s tokenomics is inspired by Defi Kingdom and their proven track record in onboarding a large number of users to a budding chain, effectively jump-starting the Harmony ecosystem. Similarly, we have the foundation in place with The Papermill’s novel locking mechanics. Stay tuned for a further expansion on more games, more features that will spice up the PLY/PULP dynamic, one that is geared towards creating an entirely new economy of our own that is powered by PLY.

What’s going to happen now?

With PLY having gone live for trading, Aurigami’s pre-mine concluded on 5 May, 2pm UTC and was followed shortly by the launch of our Liquidity Mining program, Round 1 of The Papermill, PLY deposit, and PLY/NEAR LP staking.

With over 3,000,000,000 PLY activated for Liquidity Mining, early participants especially will get to enjoy insanely juicy APYs and earn more rewards. With PLY deposit enabled, your favorite token is now transformed into a productive, yield-bearing asset. PLY/NEAR LP staking will allow you to stack yield-on-yield, earning both the liquidity mining rewards from Aurigami as well as a cut of the trading fees from the Trisolaris pool. The Papermill design is also baked in to align long-term user interests with the protocol’s as we strive towards a common goal. This is just the starting point.

Aurigami may have taken flight, but we’re bound for greater heights, and you’re all invited on the journey along.

Stay tuned for more, Aurigamists.

Note: For more information on The Papermill, refer to our previous article here.

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