The first week of Plenty DeFi 🧑🏽‍🌾

We are having PLENTY of unexpected success! Thanks to the support of the Tezos ecosystem we touched a TVL of $10,000,000 on Friday, something we could’ve only dreamt of. Since our launch last Monday the Plenty DeFi smart contracts are responsible for over 125,000 operations, 30% of all smart contract calls on Tezos in the first week of June.

The Highest Liquidity on Tezos

In just 72 hours PLENTY became the most liquid asset on Tezos. An amazing result while still being in our public beta!

Whats next?

Our top priority is building an Automated Market Maker (AMM), PlentySwap, and the progress has been great so far. PlentySwap will distribute trading fees to both LP token holders of PlentySwap pairs and PLENTY holders.

Utility for PLENTY

Besides earning trading fees through PlentySwap, holders of PLENTY can participate in governance. Developing the governance mechanisms for Plenty DeFi will take time, but luckily we have the perfect example for governance very close to home: the Tezos protocol itself. We are charmed by the implementation of a “roll-size”: a required amount of tokens to define a vote. The roll-size is of-course also changeable via that same governance.

When will the audit come out?

We are sharing the audit report this week! After the audit we will also start a “bug bounty” program.

Official links

Website: https://www.plentydefi.com/
Telegram: https://t.me/PlentyDeFi
Discord: https://discord.gg/Ph9GWPNRbv
Twitter: https://twitter.com/plentydefi