Plethori Announces Brand New Token and Staking Platform Upgrade
The Plethori team have just implemented an exciting upgrade to Plethori’s ecosystem. This change will provide the project with the backbone it requires to release their robust ETF trading ecosystem. The changes will also, among other things, make the expensive staking fees a thing of the past.
The team have now launched a brand new $PLE token which will supersede the existing token. The development team have also built a shiny new staking contract with powerful state-of-the-art functions to enhance user experience.
$PLE 2.0
The new token has been written to comply with the latest version of Solidity 0.8.6, and will have the exact same supply and tokenomics as the original $PLE token.
Both the new token and the staking platform contracts have been through a scrupulous security and functionality auditing process by cybersecurity industry leader, Hacken — chosen auditors of FTX, Gate.io, VeChain, and 1inch Exchange.
New $PLE Audit Link:
The new token was launched today on Uniswap V3 at a price of $0.035 and can be purchased via this link: Buy $PLE 2.0
Plethori’s new $PLE token contract address is:
0x3873965e73d9a21f88e645ce40b7db187fde4931
Existing PLE holders are now invited to swap their old PLE tokens for the new token.
NB: Only tokens purchased before the 6th of August will be eligible for the swap. This is in order to preserve our original tokenomics and token supply.
How to swap:
- If your PLE is currently staked, DO NOT claim your rewards. Simply unstake and then go to step 2. (Your pending rewards have been recorded and will be disbursed with your new tokens).
- Send your old PLE to: 0x96095DBbA4a7DCeD8F52b25586FDE08F7EC9127a
- New PLE tokens will be swapped 1:1 and distributed each evening until the 12th of August. After that date swaps will take place once per week each Thursday until the swapping period concludes.
- PLEASE CEASE ALL TRADING OF THE OLD TOKEN.
At the time of listing the new PLE token, a snapshot was taken of all old PLE wallet balances, including all those currently staking as well as their pending rewards. To ensure that we maintain a total supply of 100 million tokens, the maximum swappable amount for each PLE holder will be either:
- the snapshotted amount; or
- the current balance
(whichever is the lesser of the two — this is to prevent people purchasing old PLE at a discounted rate and then swapping for new PLE, thus unbalancing our total supply). - Why not simply remove liquidity to stop trading?
A percentage of the liquidity is locked for another 9 months therefore withdrawing liquidity is not an option. To remove the project’s ETH from the existing pool, the team will slowly be selling down old PLE tokens into the exchange.
Plethori’s Improved Staking Platform
The new staking platform has been optimized to guarantee a secure avenue for earning a lucrative passive income. Not only have the team solved the high gas fee issue by launching a new token and making changes to the original staking contract code, but they’ve also added a function for compounding earned rewards (and skipping the fees) as well as enabling an auto-claim function when users unstake.
To thank the community for their extended patience, no staking fees will be exercised for the first week after launch. The platform will go live in approximately 1–2 weeks time to ensure that all community members have sufficient chance to swap their old tokens and therefore benefit from the fee suspension.
With the release of further significant updates over the coming weeks and a subsequent period of expected hypergrowth in the run up to V1 — Plethori are truly going from strength to strength.
About Plethori
Plethori is a Cryptocurrency ETF Investment Platform that allows open trading and creation of trustless ETFs by utilizing blockchain technology and layer 2 solutions. The platform offers decentralized cross-chain investment for exchange-traded funds built on the Ethereum and Polkadot blockchains. This service will allow investors to deposit capital and invest in a wide range of ETFs enabling investment into entire cryptocurrency industries such as insurance, oracles, NFTs, Derivatives, Polkadot ecosystem projects and many more.
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