Manchester, UK, Sept. 14, 2021 (GLOBE NEWSWIRE) -- As Plutuswap is set to launch their AMM/DEX platform in the coming days, they are poised to set the standard for the Cardano De-Fi Ecosystem in terms of UI/UX friendliness while also combining the simplicity and reliability of the cardano blockchain in a single package.
Plutuswap’s product will focus on creating a seamless and smooth De-Fi trading experience for both traders and liquidity providers while at the same time maintaining high-security measures and standards that is synonymous with the Cardano blockchain, as highlighted in their 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.
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.