Plenty
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Plenty

Bi-weekly update: A successful launch of Plenty 2.0 with more trading pairs and farms coming soon!

Swap tokens and add liquidity on the first token-to-token Automated Market Maker on Tezos. Enjoy trading the PLENTY-wUSDC, PLENTY —wBUSD, and PLENTY — wWBTC pair. This Thursday, the trading pairs and farms for PLENTY-wLINK, PLENTY-wMATIC, and PLENTY-USDtz go live!

The first days of Plenty 2.0

Since this weekend https://plentydefi.com/ received a full makeover! With the arrival of token swaps and new farms, the Total Value Locked on Plenty surged to an all time high of over $45M! Moreover, we redesigned and rebuilt the front-end from scratch to greatly improve speed and performance. View your stats on the homepage (don’t forget to connect your wallet first!), and make life easy by hitting the mighty Harvest all button! A big thank you to the Tezos and Plenty community for your patience.

It was amazing to see a huge spike in trading activity on Tezos at launch. With the addition of more pairs and farms we expect great things from Tezos DeFi!

Growth!

A successful Audit

Apriorit conducted a security assessment of the Plenty Swap Smart Contracts to evaluate its current state and risk posture. Apriorit evaluated the exposure to known security vulnerabilities, screened for potential attack vectors, and checked if any of them could be exploited maliciously.

Summary of strengths

Building upon the strengths of the available implementation can help better secure it by continuing these good practices. In this case, a number of positive security aspects were readily apparent during the assessment:

  • The code and project files are well structured, which makes it easy to read and maintain. The code is self-explanatory. Naming policy makes instructions understandable.
  • Verification errors have custom explanations.
  • The expected behavior of the uniswapV2 protocol has been met.
  • The main execution scenario has been covered with unit tests.
  • The contracts are developed using an up-to-date SmartPy compiler.
  • A non-standard approach to multisig logic is used which is more reliable and credible because it significantly decentralizes governance.

In conclusion, Apriorit recommends that Tezsure continues to follow good security practices that are already established and further improves security posture by addressing all of the described findings.

New pairs and new farms🧑🏽‍🌾

On Thursday, five new pairs and three new farms go live on plentydefi.com!

Pairs

  • PLENTY-wLINK
  • PLENTY-wMATIC
  • PLENTY-USDtz
  • kUSD-USDtz
  • wUSDC-USDtz

Farms

  • PLENTY-wLINK LP
  • PLENTY-wMATIC LP
  • PLENTY-USDtz LP

To bootstrap liquidity, all new farms on Plenty will have double the reward rate during the first two weeks of farming.

The farms deployed at launch still have one week of double rewards left!

Community Spotlight

We are thankful for the organically growing community on Twitter, Discord and Telegram. It is amazing to see community members create video content on Youtube.

Introducing xPLENTY🧑‍🚀

xPLENTY is a profit sharing mechanism inspired by the Sushibar of Sushi.

Similar to any Liquidity Provider (LP) token, xPLENTY is a token that you receive in exchange for staking PLENTY. By default, the xPLENTY token is always worth more than the regular PLENTY token, because xPLENTY accrues value from platform fees and PLENTY staking rewards using smart contracts.

How does it work?

When a Trader makes a trade on Plenty, a 0.35% fee is charged. The Liquidity Provider receives 0.25%, and the other 0.1% will be swapped for PLENTY (if the fee is not in PLENTY) on the Plenty AMM, increasing the buying pressure for PLENTY. The newly purchased PLENTY is used as rewards in the xPLENTY pool (i.e., a single-sided AMM). All users staking PLENTY in the xPLENTY pool will earn their proportional share of the rewards. Because of the way xPLENTY is designed, the price of xPLENTY will increase with the value of PLENTY, and the value of one xPLENTY will always be greater than the value of one PLENTY.

How do I get my PLENTY back?

When you unstake, your xPLENTY is burned, and you will receive all the originally deposited PLENTY plus additional fees and staking rewards. Hence your PLENTY will never devalue against xPLENTY.

What about governance?

xPLENTY can be used for governance. In this way active users don’t have to “unstake” PLENTY to vote on proposals, which is another major advantage of implementing xPLENTY.

xPLENTY will launch in the next few weeks!

More is coming!

In the next weeks more pairs and farms will be added to plentydefi.com. Join the growing community on Discord, Telegram and Twitter to stay up-to-date with the latest developments!

Official links

Website: https://www.plentydefi.com/

Telegram: https://t.me/PlentyDeFi

Discord: https://discord.gg/9wZ4CuvkuJ

Twitter: https://twitter.com/plentydefi

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Plenty is an all-in-one decentralized platform built on #Tezos. Enabling swaps on uncorrelated assets, and low cost, near 0 slippage trades on tightly correlated assets.

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Plenty

Plenty

The #1 AMM with the highest yields on #Tezos https://www.plentydefi.com/

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