Ghostnet release and walkthrough
The new Plenty is live on Ghostnet! We are asking the Tezos community to test the new system intensively to help us release our best work on the Tezos Mainnet yet, bug-free. Follow the guide below to get started with ease!
Claim tokens for Ghostnet
NOTE: Make sure you have some Ghostnet tez. Claim them with this Telegram bot.
To start testing on Ghostnet you will need some test tokens. Head over to ghostnet.plenty.network and connect your favorite wallet to the site. Then simply click on the purple banner located on the top of the homepage, to claim multiple Testnet tokens at once!
Add liquidity and stake
To start earning PLY emissions, users need to add liquidity and stake their LP tokens. Find the specific pool you wish to add liquidity to and click “Manage”. From this pop-up, users can add/remove liquidity, stake/unstake, and see staking rewards for a specific pool.
As you can see, it is also possible to attach a veNFT to earn a boost. In this scenario we don’t have a veNFT yet, so for now we are skipping the boost.
Create a PLY lock/veNFT
To Vote in the new system (and to boost your rewards)users need a veNFT. You can create a veNFT by locking PLY for a specified duration. This veNFT can be used to vote, starting from the next epoch.
On both Ghostnet and Mainnet, an epoch is 7 days.
Voting
The most logical action in this scenario is to vote for the pool we have added liquidity to (and staked). Select your newly created veNFT from the drop-down menu above and drag the sliders located to the right of the pool, to divide your vote. When 100% of your voting power is divided click the “Cast vote” button.
In this scenario, we have only added liquidity (and staked that liquidity) to USDC.e/USDT.e so we want to use all our voting power to direct more PLY emissions to this specific pool for the next epoch.
My portfolio
When you click “My portfolio” in the top right corner, you will be able to see and manage all your liquidity positions, locks, and rewards for your connected account.
Boosting
No veNFT shown in the Locks tab of the “Positions” section, is attached to a liquidity pool yet. By clicking on the Pools Tab, and selecting “Manage” users can attach a veNFT to a specific liquidity position and “Boost” the APR by a maximum of 2.5x. The highest boost available in this scenario is 1.9x.
If you already hold a veNFT, You can Boost your rewards immediately from the Staking tab.
Add bribe
Anyone can incentivize voters with extra rewards in the form of a “Bribe”.
When more veNFT holders vote for the liquidity pool you have staked in, more PLY emissions will be received next week. This incentivizes liquidity providers to add more liquidity to the pool and be eligible for the increased PLY emissions.
Where can we find bribes?
On the Vote and Pools pages, active bribes are visible at all times. On the Pools page as a separate column. However, on the Vote page, the rewards breakdown for each pool can be found by hovering over the “Rewards” column.
Feedback
We are fishing for feedback… 🎣
We are asking the Tezos DeFi community to test the new system intensively on Ghostnet. With your help, we can make plenty.network the best DeFi launch on Tezos yet!
We are looking forward to the feedback, and we are ready to fix any bugs that might show up. Please let us know with the feedback button on the app or through this form directly.
About Plenty
The Plenty team is building an all-in-one decentralized platform on Tezos. Plenty will allow swaps on uncorrelated assets, and low-cost, near 0 slippage trades on tightly correlated assets. Plenty also features a built-in bridge from multiple EVM blockchains to Tezos.
Website: plenty.network
Whitepaper: whitepaper.plenty.network
Discord: discord.gg/plentynetwork
Twitter: twitter.com/plenty_network
