GAINS Associates
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GAINS Associates

Plutos Network — Telegram AMA — June 21

On Monday, June 21, we had the pleasure to welcome to our Telegram chat:

Juan Capilla, CEO.

We asked him questions about the development of Plutos Network.

Some sentences have been slightly edited for readability but the meaning has been conserved.


Plutos Network is a decentralized cross-chain derivative issuance and trading platform which provides infinite liquidity based on the schemes of Staking and minting and leading blockchains like Solana, Polkadot, and BSC.

By integrating blockchains such as Solana, Polkadot, and BSC, enabling on-chain and cross-chain liquidity and trading, Plutos Network will offer users synthetic issuance and trading services for a wide range of synthetic products which are sustainable, profitable, and disruptive to the traditional derivative market.

PLUT is the native utility token in Plutos Network and is used to pay for the transaction fees and synthetic issuance services and also for the deposits of any on-chain applications. PLUT holders will be able to vote on proposals from the community and even decide how the ecosystem fund will be used in Plutos Network.


Q — Ayeley from GAINS: Tell us a bit about you. What did you do before crypto and did you have any other previous venture in crypto? How many people are on the team alongside you?

A — Juan from Plutos Network: This is Juan Capilla. I’m a graduate of Economics and Business Sciences from the Complutense University of Madrid. I’m a serial entrepreneur in both the traditional financial industry and cryptocurrencies. I also run the largest crypto mining company in Northern Spain.

I run my own head office as a full-time swing trader dealing with cryptos, financial and derivative products including stocks, options, etc. Besides trading financial products and cryptos, I’m also an advisor to several companies listed on the Alternative Stock Market (MAB of Spain).

Our team is quite distributed, lol.

So besides the core members including me, MD Gonzalo, and a few people in Madrid, Leon is now in Amsterdam leading a tech team of 4 working on development supervision and product design. We have a small developer team in Malaysia, a team of 3 responsible for the Staking product. And, we have a large developer team of 15 working in Shanghai for the main product. So basically we can work 24/7 on the product building. We also have amazing Advisors: Lester Lim, Founder of X21 as our Strategy Advisor, Charlie Chen, former CMO of TroyTrade working as Marketing Advisor and Project Lead, and also Kyle Chasse, Founder of Paid Network as our Advisor for business.

Feel free to connect with our team here!

About Plutos Network

Q — Ayeley from GAINS: What is the project about in a few simple sentences? And for how long have you been working on it?

A — Juan from Plutos Network: So in short, Plutos Network is a multi-chain synthetic issuance & derivative trading platform which introduces mining incentives and Staking rewards to users. By integrating blockchains such as Polkadot, BSC, and Solana, enabling on-chain and cross-chain liquidity and trading, Plutos Network is to offer users synthetic issuance and trading services for a wide range of synthetic products. Actually, the idea of building such a project can be traced back to 3 years ago when I and Leon talked about the possibility of trading derivatives in the crypto world and we had this idea. So when COVID came, we had time to do more research and gather the best team members to do it. We started the project in the last Q3 when we finished all the prototype design and technical architecture design. Then we started to build it brick by brick. So till now, it’s been like 9 months.

Q — Twitter user @AlexPetrio: Plutos is a DeFi multi-chain synthetic investment centre built in Solana, Polkadot, and BSC. However, in your Medium, you announced that you will be integrating oracles like those of Chainlink to secure the synthetic asset platform. Can you explain a bit about it?

A — Juan from Plutos Network: Yes!

As a synthetic issuance and trading platform, price feeding is the very basic yet essential service that we will be relying on.

By integrating Chainlink’s industry-leading decentralized oracle network, Plutos Network will have real-time, tamper-proof, and highly precise price feeds for a wide selection of cryptocurrency and traditional financial assets. We will use these Chainlink-powered oracles to price synthetic assets on-chain during the minting, swapping, redeeming, and liquidation processes. Additionally, Chainlink’s blockchain agnostic capabilities allow us to integrate its battle-tested price feeds across many blockchains, amplifying the multi-chain nature and functionalities of Plutos Network. Ultimately, this will lead to better liquidity and zero slippage for Plutos users.

Q — Twitter user @mmgvstodos: The dynamic NFTs that your project presents may be the next trend in the NFT market, but how can the community trust the data that affects or influences NFTs? How can you prove that they will be valid and safe?

A — Juan from Plutos Network: We found out that the mechanism of NFT by applying the ERC721 standard to make each token unique and special through tokenization has a similar ideology as crypto synthetics. With the growth of DeFi and NFT, more real-world assets can be tokenized and minted to issue synthetic assets. When it comes to Plutos, yes, we will be first exploring a way of combining NFT into synthetics, probably starting with our protocol similar to ERC721 in the future. But definitely, we will be doing a lot in NFT as we stronger share the same idea that NFT will bring more new values and innovations to the real world and vice versa. Of course, the community can trust the data as the NFT assets that we will be integrating will be traceable on-chain.

Q — Telegram user Carlos Moreno: Why hasn’t Plutos Network considered the idea of integrating the polygon and Ethereum chains? Can’t they be integrated to further secure the synthetic asset platform?

A — Juan from Plutos Network: We are open to integration with more chains in the future. We will watch closely on the technical progress of ETH2.0 and will find a way to integrate when we think it’s appropriate. Also, we are having technical discussions with chains like Polygon for potential integration as well. The reason why we will migrate to Solana first is that we have great talks with the Solana team who are willing to offer us support and help. But like I said, we will always be open-minded.


Q — Ayeley from GAINS: What is the token use case and how does it capture the value of the ecosystem you are building?

A — Juan from Plutos Network: So the platform token $PLUT mainly has three major use cases: Commission, Reward, and DAO Governance. PLUT is the native utility token in 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. Besides, the PLUT holders will be able to vote on proposals from the community and even decide how the ecosystem fund will be used in Plutos Network. Our plans for continuous value capture and value-adding to $PLUT include the following plans: 1. We will be introducing a deflationary mechanism that we will buy back and burn PLUT tokens using the revenue of the platform; 2. We will keep making efforts in business development and user acquisition by working with partners and local communities. With more users joining us, we will be witnessing continuous business growth. 3. We will be doing continuous upgrading and improvement of the product for better usage.


Q — Ayeley from GAINS: Did you raise funds so far? If so, how did you handle them? And are you planning to do any future raises?

A — Juan from Plutos Network: We have 3 rounds, including Seed round, Private round, and Public round. The first 2 rounds are completed already and we raised $3.3M. The Public round is undergoing a Dual IDO on Ignition and TrustPad. The IDO will be completed tomorrow. The total raised during the IDO round is $300k. As for the handling of the funds, most will go to the product development and project operation, as well as marketing operations, user acquisition, etc. All these will be only for the long-term and sustainable development of the project. Well, for now, we do not have any plans for further raises.

Competitive Advantage

Q — Twitter user @Lidiamga: Briefly explain the differences that your cross-chain platform has compared to other platforms. How is the intersability of protocols in your cross-chain media, and what is the other blockchain network that you intend to introduce for cross chains in your platform?

A — Juan from Plutos Network: Before I explain this, let me share a picture so that you can get an easier understanding.

So basically, there are some core features that Plutos Network has: 1, Multi-chain structure to offer better scalability and interoperability, as well as more powerful functionalities. 2, We offer a lower C-ratio for higher capital efficiency; 3, We also have features like more accessibility, better liquidity to avoid slippage, etc.

Let me explain how we do the cross-chain.

We use a sub-parachain and chain-bridge module to connect and communicate with Polkadot para-chains through Rococo etc. These modules will also help cross-chain functionalities when we integrate Solana and BSC. Our current design for the multi-chain structure is that we will integrate Solana, BSC, and Polkadot. Of course, we will not be limiting ourselves in selecting the chains. We are open to more chains as long as they can help us in building a more powerful product, such as Polygon, Cardano, etc. When we launch the main-net product, we will start working with more chains for potential integrations.

Business Development

Q — Ayeley from GAINS: What stage is the project at? And what should we look forward to in the coming months?

A — Juan from Plutos Network: Sure, let me share our 2021 Roadmap first.

So, we have launched our test-net Staking product and Faucet where users can claim test-net token airdrops. We will continue to make improvements in optimizing the Staking product, including Solana-based and Polkadot-based Staking services. We are doing our IDO which has been drawing a lot of attention lately. And we plan to list on PancakeSwap tomorrow. In Q3, by the end of July or in August, we will launch our Main-net product and also Plutos Pool. After improvements and some polishing, we will start our migration to Solana. More features will be introduced as well, like User Dashboard to offer the best trading experience.

Q — Telegram user Mangekyou Sharingan: What are the ways for Plutos Network to generate revenue in the long run?

A — Juan from Plutos Network: Our revenue model is simple yet firm, that we earn revenue from the issuance and trading commissions. The strategy for continuous revenue growth is simple as well that we will continuously be doing user growth and business development to expand our user base.

Q — Telegram user Dayo: What plans do you have for marketing, and how do you plan to keep attracting new users? How can you convince users of the security on plutos and have you been audited?

A — Juan from Plutos Network: Very good question! We will definitely put a lot of effort and work into marketing and business development in some key markets such as English Speaking markets, Korea, Vietnam, China, etc. We will do it in the following ways: 1, we will closely work with our backers, partners, and investors in various markets; 2, we will be going more closely to groups and communities where the users are from and always listen to them; 3, we will be holding events such as Bug Bounty and User Testing Reward Event to learn from users on how can do continuous improvements of the product. Yes, we partner with CertiK who is auditing our smart contracts now. Reports will be published here.

Thank you Juan, for a wonderful session today. It was a pleasure having you in our group, and taking the time to answer our questions. We wish you the best as you complete your IDOs this week. Anything else you’d like to say? Where can we follow you to stay updated? — Ayeley Commodore-Mensah from GAINS Associates

So great to be here with Gains👏. Thank you so much! Everyone can join us in Telegram and I will be there anytime for any help or inquiry — Juan Capilla from Plutos Network

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