Plethori will launch its IDO on Ignition!
The selection of IDOs available on our Ignition platform keeps growing and growing, and we are proud to introduce you to yet another exciting project that will soon launch its IDO on Ignition. Meet Plethori, a decentralized cross-chain ETF Trading Platform and ETF Creation Protocol built on Polkadot.
- Whitelist Start: April 10, 2021; 2PM UTC
- Whitelist Close: April 13, 2021; 4AM UTC
- Plethori on Ignition: TBA
Whitelist for the Plethori IDO is closed.
What Is a Cryptocurrency ETF?
A cryptocurrency exchange-traded fund (ETF) works just like any other ETF. While ETFs on the traditional markets allow investors to track an index or a combination of grouped assets, an ETF in crypto will do the same except for one or more digital tokens. Like traditional ETFs, crypto-based ETFs will be tradable as common stocks and subject to price changes as investors buy and sell.
A Layer 2 ETF Investment Platform
Plethori is a one of a kind crypto-based ETF investment platform that utilizes the power of blockchain and layer 2 solutions that allow investors to trade pre-made ETFs and also create new ones. It will offer a cross-chain investment solution that will streamline ETFs built on Ethereum and Polkadot.
By using Plethori, investors will be able to enter crypto-based ETF markets by first depositing capital and buying the platform’s native PLE token. After completing this step, the PLE token will allow investors to enter ETF markets that cover entire industries in the cryptocurrency space, such as insurance, NFTs, derivatives, oracles and more. Investors will also be able to invest in ETFs that cover grouped projects built on both Ethereum and Polkadot.
The ETF Trading Exchange
Plethori’s V1 Platform is a fully functional trading platform equipped with an easy to use UX suited for both new and more experienced investors in the cryptocurrency space. Users of Plethori can choose from various categories, including oracles, Polkadot, insurance, small caps, large caps, to name a few and can buy these ETFs that will enable them to spread their investment over a selection of tracked assets bundled as one package.
Creating Bespoke ETFs
Plethori’s V2 platform will allow users to create their own ETF trading instruments by staking collateral. Once created, these unique ETFs can be published and will be open for purchase from potential investors and users of Plethori. Fund creators will receive a percentage of all transaction fees of the ETF they have created that will be linked to investors’ purchase of sale price. If a user’s uniquely created ETF performs well, it will be placed higher up the leader board and gain more visibility from more platform users for further investment.
Token Structure and Utility
Plethori will use the $PLE token in a multifunctional incentive-based system covering staking, farming and fee-saving mechanisms that will allow participants to generate and share profit. The $PLE Token is essentially used in four ways allowing:
• Users access to and deposits/withdrawals for the platform
• Staking/farming for rewards
• Voting rights in governance
• The settlement of transaction fees
*For applications to be considered valid, all applications must adhere to the PAID whitelist lottery rules, must pass PAID Ignition’s KYC process, and adhere to each project’s specific KYC requirements and country restrictions which varies per project on a case to case basis. For a list of Plethori specific restricted KYC countries check HERE.
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.
About Ignition
IGNITION is a featured product of PAID Network, operating as a decentralized swapping protocol that allows blockchain-based token projects to offer their private and public auctions. The platform features Ethereum, Binance Smart Chain (BSC), and here shortly, Polkadot functionality.
Ignition is different from other auction platforms in that it properly vets and selects only top-tier cutting-edge projects. Its multi-level incentivization mechanisms for participants of published projects will encourage HODLing that supports both the project founders and the community. It isn’t just a trading platform; it FUELs projects and takes fundraising to the next level.
Ignition brings quality projects, fixed swaps, and equitable lottery participation to the PAID community.
About PAID
PAID Network seeks to redefine the current business contract, litigation, and settlement processes by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID wherever they are in the world.
PAID technology leverages Plasm to operate on both Ethereum and Polkadot ecosystems. PAID makes businesses exponentially more efficient by building SMART Agreements through smart contracts in order to execute DeFi transactions and business agreements seamlessly.
For any questions for the PAID network, please feel free to reach out to us on:
- Website: PAIDNetwork.com
- Telegram: @PaidNetwork
- Twitter: @PAID_Network
- Medium: @PAIDNetwork
