PlutuSwap Platform Arrives To Mark Itself As The BEST DEX On the Cardatno Ecosystem The entire focus of the Plutuswap Product is bent on creating something simple, seamless and smooth for Defi trading
By Srivatsa KR •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.
With Plutuswap aim on the launch of its AMM/DEX platform in the coming days, they are going to lead by the example for the Cardano DeFI Ecosystem in terms of UI/UX friendliness, along with joining the simplicity and ever reliability of the Cardano Blockchain in one bundle.
The entire focus of the Plutuswap Product is bent on creating something simple, seamless and smooth for Defi trading, for traders and liquidity providers, along with ensuring highest possible security standards and measurements, that in line with synonymous of the Cardano Blockchain, as highlighted in the Whitepaper.
Centralised exchanges works simply by matching the buy and sell orders of the traded asset, while Automated Market Markers (AMMs) employ a peer-to-pool technique to compute asset price algorithmically using a so-called conservation function.
AMMs have the apparent advantages over centralized exchanges in terms of decentralization, automation, and constant liquidity provision.
Alonzo Hard Fork Upgrade
The Alonzo Hard Fork Upgrade of the Cardano Ecosystem will bring about smart contract functionality for creating and deploying "smart contracts" on the Cardano blockchain, allowing developers to create Dapps and existing projects on other blockchains to migrate to the Cardano Blockchain.
Smart contracts are simply programs that run when predetermined conditions are met and are stored on a blockchain.
They're typically used to automate the execution of an agreement so that all parties can be certain of the outcome right away, without the need for any intermediaries or time wasting. They can also automate a workflow, starting the next step when certain conditions are met.
When fully operational, PlutuSwap.com will be a decentralized exchange based on the Extended Automated Market Maker (EAMM) protocol and powered by the Cardano Blockchain Infrastructure's UTXO mechanism.
Plutuswap Ecosystem
The Plutuswap Ecosystem will be powered by $Plutu, the platform's native utility governance token with a total supply of 100,000,000.
The PlutuSwap Ecosystem will include Stake Pools, Liquidity Provision, Novel Token Launch Mechanism and Cross-Chain Trading, which will all be powered by the utility token $Plutu.
The Cross-chain trading protocol will be an added utility and also what makes PlutuSwap the choice AMM/Dex platform on the Cardano Chain.
Cross Chain trading is simply swapping your native Cardano Ecosystem tokens for non-native ones without the use of an intermediary or a middle man.
It is done by utilizing smart contracts that can handle both or more types of tokens such as ERC-20 and BEP-20 as project developers can easily bridge their tokens to the Cardano blockchain.
On-going process for users
Plutuswap is currently on a presale for early adopters. By participating in the ongoing presale, you one can be one of the first holders of the $PLUTU tokens before it lists on an exchange.
You can participate in the Plutuswap pre-sale here. Future ideas are also in the works. We aim to dominate the Cardano Network through the growth of our Ecosystem's functionality.
Note: Investment in cryptocurrency is subject to risk and readers should do their own due diligence. Entrepreneur Media does not endorse any such investment.