First DApp built by independent partner Plutos Network launches on Public Mint

NovelSwap is a next-gen decentralized exchange by Plutos Network , currently running on the Public Mint testnet and soon to be live on the mainnet, initially offering MINT/USD trading pair.

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Public Mint

5 min readOct 1, 2021

We are excited to announce that the first DApp built by an independent developer is launching on the Public Mint blockchain, offering trading directly between MINT tokens and USD.

The Dapp, a decentralized exchange by the name of NovelSwap, is already running on the Public Mint testnet and will be launching on mainnet by the end of October. It is being developed by Plutos Network, a leading multi-chain based DeFi Synthetic Hub.

Just the first step

Plutos Network recognizes the obvious potential of offering fiat-based trading pairs and the launch of NovelSwap immediately offers a way of trading MINT tokens for native USD. Any project that launches on Public Mint will now be able to use NovelSwap for trading.

The launch of NovelSwap on Public Mint is the beginning of an in-depth collaboration between Public Mint and Plutos Network, who will continue to integrate the powerful and simple payment system offered by Public Mint.

“We‘ve seem leading public blockchains grow fast during the last quarter, and we believe that the unique focus of Public Mint on fiat is extremely promising and ripe for massive adoption”. By building NovelSwap on Public Mint, we will be able to offer the best trading services for PLUT traders.” — Juan Capilla, CEO at Plutos Network.

NovelSwap is the first-ever solution built by an independent developer on the Public Mint blockchain, and it will offer Public Mint users the first gateway to trade using their native USD.

“We are thrilled to have the first independently-built project on our network — especially by such a reputable group like Plutos Network. We’re excited about this partnership and looking forward to further collaboration in the near future.” — Jorge Pereira, co-founder and CTO of Public Mint

Help test NovelSwap

WARNING: If you’re not familiar with testing, Metamask, or how to operate on a testing environment, DO NOT try and use the NovelSwap DEX. It is currently running ONLY on the testnet.

A small group of beta testers are stress-testing the DApp and providing valuable feedback to the developer team.

If you’re interested in testing it, you’ll need to configure Metamask for the Public Mint testnet. Instructions on how to access and test the DApp can be found on our developer portal. And you can get some test USD from this faucet, or just ask for some at our DEV Telegram channel.

Then head to NovelSwap, connect your wallet, and give it a try.

Feedback should be directed to the admins at Plutos Network’s Telegram Group.

NovelSwap features

How does NovelSwap compare to other mainstream DEXes

NovelSwap is the first DEX currently operating on the Public Mint blockchain.
NovelSwap will leverage Public Mint’s low-cost and fixed gas fees, currently only at $0.30 for buying,and $0.53 for selling tokens. The gas fee is paid in USD and fixed regardless of the trading amounts.
NovelSwap’s trading fee model is fair and transparent. Sellers are charged 0.5% on the transaction, while buyers pay zero fees — which ensures a much fairer price action for the launch of new projects by up-and-coming startups.
Swaps take only four seconds on average on NovelSwap, due to Public Mint’s fast blockchain confirmation time and instant finality.
Traders can easily fund their wallets with USD via Public Mint wallet’s direct connection via bank transfer or credit card/wire, or via USDC deposits via the company’s partnership with Circle. And after selling tokens, users can withdraw fiat directly from their wallets to their bank accounts; there is no need to go through another exchange.
NovelSwap is launching with a MINT-USD pair. Once Public Mint adds Euro (EUR) and other fiat currencies, we will also consider launching additional trading pairs.
Once a project deposits LP into NovelSwap, that liquidity is locked. The project owner can choose the duration of the lock, and when this lock expires, this will be publicly displayed in the NovelSwap pair interface so anyone can verify.
Last but not the least, Plut Network will be commiting a portion of the trading fee incurred from the DEX to buyback of PLUT tokens.

In addition to Public Mint, Plutos also plans to launch NovelSwap on BSC and Ethereum in the near future.

Disclaimer

NovelSwap has been created by the aforementioned independent developers who assume full responsibility for its operation.

Public Mint has not verified the code or contents of the application, and therefore takes no responsibility or liability for its use, or for any implications that may arise from using it. Please do your own research before using any application by third parties.

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.

About Public Mint

Public Mint is an open and complete blockchain platform for fiat money, where funds are fully collateralized and held on deposit with regulated, FDIC-insured institutions. Public Mint offers an open, fiat-native blockchain and APIs, ready for anyone to build fiat-based applications and accept credit cards, ACH, wire transfers, stablecoins and more. On top of that, the Public Mint EARN platform offers users automated and diversified returns on USD assets, leveraging the power of blockchain and DeFi.