Biweekly update: swapping, testing, and growing!

We are testing and preparing for a mainnet release of the Plenty AMM in the next few weeks. Besides development, we are scaling the team and allocating more resources for faster growth.

Published in

Plenty

3 min readJul 22, 2021

Thank you DappRadar once again for your kind words! “Currently, this DeFi solution ranks number one based on the number of unique active wallets interacting with its smart contracts.”

We are hiring!🧑🏽‍🌾

Are you based in India and interested in joining the fastest growing DeFi project on Tezos? Send an email to hello@plentydefi.com, or ping a team member on discord, and let’s have a chat!

Upcoming partnership👀

We are very excited about an upcoming partnership! Both parties feel an urgency to work together to bring more liquidity and users to Tezos, so that DeFi on Tezos can keep growing. We will announce our partner next week, and this will just be the start of our collaboration.

Baking rewards of PLENTY-XTZ farm🥐

We used the baking rewards worth 72 tez to buyback and burn PLENTY. We are excited about the future of farming when tokenized forms of tez, like ctez, can be used for trading pairs. In this way, using a 1:1 tez token for DeFi, you’ll still earn baking rewards on your tez without giving away control.

We used the entrypoint “WithdrawExchangeReward” of the PLENTY-XTZ farm

We burned some $PLENTY🔥

Our biggest buyback and burn yet! We burned over 20,000 $PLENTY bringing the total to over 74,000 PLENTY.

AMM launch when?🙄

We shared our latest AMM commit with the audit company for cost estimation. This audit will take a bit more time due to summer holidays and the limited availability of Tezos smart contract auditors.

Launching without audit?🙀

The time for rapid innovation on Tezos is now. An audit will help with giving the project a “stamp of approval”, but it’s never a guarantee that the code is exploit-free. We tested the contract ourselves and had multiple external developers look at the code. At launch, there will be a limit on the trade size to avoid heavy losses of funds in case of an exploit.

Which pairs will you have at launch?

We will launch with a USDtz-PLENTY and kUSD-PLENTY pair. We are open for suggestions on which trading pairs we should add next! Join the discussion on Discord.

Will you have darkmode?

Yes. 👇

Can I try it out on testnet?

When we have our UI integration finished, we will share a testnet version with a few selected community members. Keep a close eye on our socials if you want to be one of the first testers.