Plutos Network to lock Team & Advisor tokens for additional 3-months;

PlutosNetwork

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plutosnetwork

3 min readJul 17, 2021

Token Buy-back Plans & Transparency Report

I. Extended Cliff for Team & Advisor tokens

To ensure the long term vision and outlook of Plutos Network and better protect the interests of PLUT investors, the team and advisors have made a firm decision that will lock team & advisor tokens for a 3-month extended period, making the total duration of team & advisor cliff into a period of 6 months.

The wallet address of $PLUT Team & Advisor is:

0xc2191a11609bff17baf0ee699810de3d78bae243

We welcome all investors and community members to supervise our team transparency.

II. Token Buy-back Plan

As has been written in the Plutos Network tokenomics, a deflationary mechanism will be introduced to ensure that the project can generate more demands for tokens in the market, and reduce supply at the same time, we decided to initiate our first round of Token Buy-back and Burn at the end of July by using the revenue created in our staking services through partnerships with other leading projects.

Planned amount of PLUT tokens to be bought back and burnt will be half a million PLUT in the upcoming first round. There are 3 rounds of PLUT token Buy-backs planned for this year, with half a million PLUT tokens for each round.

After PLUT listed on PancakeSwap, the team has already bought back a total amount of 439K of PLUT tokens. For details, you can check: https://bscscan.com/address/0x56b3d0b51812d84b6974b2427725facef53a7687#tokentxns

More details will be shared with the community to guarantee accurate execution of transparency.

III. Token Transparency Report

Transparency is highly regraded when the Plutos team communicates with our community. Thus, hereby we publicize all the addresses of PLUT tokens for all of our dear members to trace.

As the above token distribution chart shows, that PLUT tokens are well kept in the following wallets:

Mining Reserves

Wallet Address: 0x678555dd4e1023affd859789cfce5ac87eced230

Quantity: 35,000,000

Liquidity Fund

Wallet Address: 0x860e88ee74b1a9a42baac7b8b77763865d929495

Quantity: 19,680,000

(A number of 320,000 were locked in $PLUT PancakeSwap Liquidity Pool )

Ecosystem Growth

Wallet Address: 0x3d82d440c076b8cbfa4cc1ada4b0b7a129b96ddf

Quantity: 15,000,000

Fundraising

Wallet Address: 0xfaf34224096410d8d3b522d88f2189e7531ca805

Quantity: 14,386,444.45

(Partially vested to Investors upon TGE)

Team & Advisors

Wallet Address: 0xc2191a11609bff17baf0ee699810de3d78bae243

Quantity:10,000,000

We would like to welcome all our dear community members to keep supporting us when the team builds the project brick by brick for the long-run.

More exciting deliveries coming. Stay tuned.

About Plutos Network

Plutos Network is a multi-chain synthetic issuance & derivative trading platform which introduces mining incentives and staking rewards to users. By integrating blockchains such as Solana, Polkadot, and BSC, enabling on-chain and cross-chain liquidity and trading, Plutos Network is to offer users synthetic issuance and trading services for a wide range of synthetic products which are sustainable, profitable, and disruptive to the traditional derivative market.