UPDATED! PlutusDeFi — New Listing Date — Bonding Curve, Uniswap and DeX Listings
We would like to thank the community for their continued support for the project towards our mission in DeFi.
To all of our PlutusDeFi community, I would personally like to apologize for the delayed communication regarding the bonding sale and I would personally like to explain why the bonding curve was delayed.
Topics Covered
- Why we delayed the Bonding Curve listing
- New Token Claiming Method for Seed Round
- New Bonding Curve Sale and Uniswap Listing Date
- Listing Announcements
- Unplanned IOU listings from unauthorised exchanges
- SRP Program Clarification
- PlutusDeFI’s guide to Curve.PlutusDeFi.com and Uniswap: How to Take Part in a Bonding Curve Sale
Why we delayed the Bonding Curve listing
Launching new software should never be rushed, in any case, participants have contributed significant financial value to our project, and getting our TGE right is the most important matter to our Team.
On Tuesday morning, our token claiming dashboard for the seed and the private sale was still not stabilized, while having been developed and deployed on Rinkeby test-net, we were not comfortable with an untested new platform being deployed for seed round participants to claim their tokens on main-net when there were discrepancies with Metamask. With the years of experience behind our team in developing the product and many of the standard practices not being followed due to increased pressure to carry out the bonding curve. We refused to compromise and give in to pressures to release a TGE which may have a disruptive experience for our token holders.
Instead, we opted to step back, take a few more days to assess the situation, and then announce a new date for the bonding curve.
In the meantime, there have been rumors and allegations as to why the bonding curve was delayed, spread by individuals related to another project currently which has just completed their uniswap listing. We have called them to present evidence of allocations of OTC coming from the team. We can categorically deny this. Our only position is that we were willing to make sure that crypto investors in the space would not get scammed and would provide confirmation if any person was an investor. This is an ethical position we wanted to adopt so that the Project was not tarnished by phishing or scams. This has been abused, misconstrued, and used as an attack against PlutusDeFi.
We will no longer provide confirmations for investor's safety due to this, in addition, action will be taken against the individuals involved in spreading allegations.
Rest assure that the Team has been working around the clock, 24 hours a day, 7 days a week to make sure that the bonding curve, uniswap listing, and token generation takes place successfully. We are not a DeFi project with no business or product experience willing to initiate a token generation event without rigorous testing, despite immense pressure from the community to do so.
We had an ambitious two-week deadline from the moment we decided to opt for this model despite not having any plans previously.
I can however say, as we have worked tirelessly with our service partners, seed investors and private/public sale to achieve our Bonding Curve. All tokenomics previous information remains the same.
Regards — Arnie Hill, CEO of PlutusDeFi
New Token Claiming Method for Seed Round
New Alternative Process for Seed Round Participants to Claim Tokens
The claiming method for tokens for our seed round participants. Those instructions can be found here: New Alternative Process for Seed Round Participants to Claim Tokens
All Private Sale Participants will automatically receive their tokens to their designated wallet addresses.
New Bonding Curve Sale and Uniswap Listing Date
We can now release the new date for the bonding curve to take place on: Monday 27th July 2020–8AM ET/12pm GMT/ 8PM China Standard Time
1) Bonding Curve Sale Details — curve.plutusdefi.com
We have opted for an initial bonding curve offering on a dedicated dolomite.io DEX instance, allowing users to purchase tokens freely in a similar style to DMM.
Bonding Curve Date: Monday 27th July 2020 — 8AM ET/12pm GMT/ 8PM China Standard Time
Start Price: USD $0.09 cents per token
End Price: USD $0.22 cents per token
Number of Tokens: 3,000,000 tokens posted in Blocks
The team will not confirm the following information so that the sale is fair and cannot be gamed by rogue elements.
- The total number of tranches
- The exact split in each tranche
- No KYC is required for the Bonding Curve Sale as this takes place on a DEX
Conditions:
- The Bonding Curve sale will take place for a period of 24 hours, however, we anticipate the sale to be finished within a few minutes based on inbound demand since the first part of the private sale.
- The sale will last 24 hours and if there are any unsold tokens, these tokens will be burned permanently.
- Seed Round and Private Round Token Holders will be able to use their unlocked tokens on the second to last block of the bonding curve sale, and immediately before the Uniswap Listing takes place. The Uniswap listing will take place immediately after the bonding curve sale. Adequate time will be provided for these rounds to acquire their tokens.
- Seed Round Token Holders will need to claim their tokens from a manual claiming process found here: New Alternative Process for Seed Round Participants to Claim Tokens
- Private sale Tokens are automatically distributed to their contributing addresses.
2) Post Bonding Curve Sale — Uniswap Listing:
As the bonding curve sale is completed, $PLT will be listed on Uniswap V2 to provide liquidity for our token holders ahead of further plans later in the month.
Uniswap V2 starting token price will be USD $0.25c.
PlutusDeFi will provide liquidity towards both PLT/USDC & PLT/ETH.
Official links for the Uniswap Listing will be announced on telegram and via the bonding curve sale platform with a banner link for security. Please do not search Uniswap and attempt to find the listing yourself
The smart contract token address will be posted at a further date.
Listing Announcements
We are delighted to be able to announce that we will be announcing one new CEX listing partnership each day until the bonding curve. The listing announcements are not prioritized and do not show favoritism or preference to any exchange.
Unplanned IOU listings from unauthorised exchanges
PlutusDeFi can confirm that there are no exchanges with tokens that are currently listing PLT. These are not collateralized by PLT and are unauthorised, we have requested that these exchanges remove their IOU listings as they do not have tokens or a smart contract from us. Please use at your own risk.
SRP Program Clarification
Only a specific amount of seed round participants are applicable for the SRP and these pre-agreed with the company in an effort to assure that our backers are long-term. As such, there is no increase in our total supply and has been budgeted from other allocations, with no changes made to these allocations in size or vesting.
PlutusDeFI’s guide to Curve.PlutusDeFi.com and Uniswap: How to Take Part in a Bonding Curve Sale
For the PlutusDeFi bonding curve sale, we will be using a dedicated platform for our launch. Together with the Dolomite Team, we have produced and launched https://curve.plutusdefi.com. The platform will be live on Monday 27th July 2020–8AM ET/12pm GMT/ 8PM CST.
Participants will be able to connect their metamask or similar wallets and purchase $PLT from the bonding curve. Below we will try to answer common questions asked to the team.
How does the bonding curve platform work?
PlutusDeFi has its own dedicated bonding curve sale platform hosted at curve.plutusdefi.com, this is powered by Dolomite which is a decentralized exchange that allows you to trade your cryptocurrency assets securely, right from your own wallet. Dolomite empowers you to maintain complete control of your assets throughout the entirety of the trading process, as you are never required to deposit or withdraw crypto from Dolomite to trade. (You will not be able to participate on the bonding curve using dolomite.io)
How do I participate in the Bonding Curve?
Go to the sale site curve.plutusdefi.com before the sale, connect your wallet, click the button that says “unlock”, approve that transaction (how you do that will vary depending on the wallet, we STRONGLY recommend using Metamask, it’s a good idea to pay a higher gas price so it will submit in a reasonable amount of time), and then you’ll be able to participate in the sale.
On the day of the sale before it opens, you can go to the sale site and connect your wallet, then when the sale opens you can choose which token you want to spend from the dropdown (ETH vs WETH, USDC), enter the amount you want to spend, click submit, and sign the message. That will submit the purchase to Dolomite, and Dolomite will handle the rest from there, you’ll receive your tokens into your wallet once the transaction submits on the chain.
Will there be a gas war?
A signed message doesn’t have a gas price, it’s not a transaction submitted to the blockchain, it’s just something passed to Dolomite that allows Dolomite to submit the purchase on behalf of the user. Dolomite is the one that submits the purchase to the blockchain and handles the gas payment, which means that Dolomite can submit them in the order they come in, no gas war involved.
What is WETH and why is PLT paired with WETH?
Dolomite operates on Ethereum for now and utilizes the Loopring Protocol for order settlement, which allows you to seamlessly trade Ethereum’s ERC-20 tokens. Ether (ETH), however, has existed since before the ERC-20 standard, and as such isn’t natively tradable on Dolomite. Wrapped Ether (WETH) is the solution to this problem.
Ether can be “wrapped” to become WETH — an ERC20 compliant token that is tradable on Dolomite, as well as other DEXs. Because WETH can always be redeemed for ETH, the price of the two are the same. At any point you can “unwrap” your WETH to receive ETH.
Learn more about WETH here
Where can I wrap my ETH?
Go to Dolomite.io ahead of the sale, if you wish to wrap your ETH before the sale starts.
Desktop Only: On the bottom left of the platform, you will be able to see two crossed arrows, click on this to open the ETH <> WETH Swap panel. Enter the amount of ETH that you want to Wrap. Click on “To WETH”, this will open a transaction to sign in metamask, and then the balance on your trading panel will be updated to show the amount of WETH held.
Desktop and Mobile: Alternatively, you can visit MESA Dex and wrap your ETH here, connect your wallet, and wrap your ETH.
Which wallets are supported?
Curve.plutusdefi.com will support Metamask, WalletConnect, Coinbase Wallet, Formatic, Portis and Torus
How do I unwrap WETH?
Dolomite currently has an interface for unwrapping WETH which is both quick and easy. You can find it by clicking the crossed arrows symbol in the bottom left of the exchange or next to your WETH balance on the exchange. Make sure that you have “To ETH” selected and enter the amount you wish to unwrap, and submit!
Loading Your Wallet — MetaMask
MetaMask is the leading browser-based wallet bridge. It keeps your wallet information separate from any online cryptocurrency applications you use so that your sensitive information is never exposed. To use it, follow these steps (if you already have MetaMask set up, skip to step 4):
1. Add MetaMask to your browser
You can find links to the extension on their site here: https://metamask.io/ You can also get more information about MetaMask here: https://metamask.io/#how-it-works
2. Create your account with MetaMask
You can find links to the extension on their site here: https://metamask.io/ You can also get more information about MetaMask here: https://metamask.io/#how-it-works
3. Import an existing wallet
Click the button in the upper right with the two arrows in a circle around the figure. From the dropdown menu, choose “import wallet”. Choose either private key or JSON file (keystore file), depending on which you have available for your wallet. If it’s your private key, type it into the field. If you have your keystore file, load that and type in the password. Then press import. Congratulations! MetaMask is now set up with your wallet.
4. Connect MetaMask to Dolomite
Click on the button in the upper right that says “load wallet”. Click on the tab on the left that says “MetaMask”, then click “Connect MetaMask”. Click the MetaMask icon in the upper right to make sure you’re logged in, and if not click the MetaMask extension and type in your password. Then select “connect”. Congratulations, you’ve loaded your wallet onto Dolomite and you’re ready to trade and manage your portfolio!
A Guide to Uniswap
Navigate to https://app.uniswap.org/#/swap and collect your wallet at the top right of the screen.
Select your ETH address account and click on connect. You will not be able to interact with Uniswap
Enter our smart contract address here: TBA on the day of listing
(DO NOT SEARCH $PLT AS THIS IS NOT SECURE. ONLY USE THE SMART CONTRACT ADDRESS PROVIDED BY THE TEAM)
Our smart contract address will be announced on Tuesday before the sale and will also be displayed on curve.plutusdefi.com
Using USDT as an example, enter the amount of ETH you wish to use to purchase PLT
5) Continued Partnerships and Integrations:
Announcements of further partnerships, integrations, and new hires will take place shortly. We have been working with a number of media partners and hope to display some of PlutusDeFi’s long term commitments, traditional corporate partnerships, and new team members.
Beginning from next week, community members will be able to access podcasts, interviews, and AMA’s via youtube from several key industry leaders.
For any questions please feel free to reach out to us on:
Website: https://plutusdefi.com/
Telegram: https://t.me/plutusdefi
Twitter: https://twitter.com/plutusdefi
Medium: https://medium.com/PlutusDeFi
