# plsASSETs plsASSETs are liquid, overcollateralized representations of max-locked positions. They provide exposure to max-locked rewards without requiring capital to be locked for extended periods, allowing users to stay flexible while continuing to earn. Each plsASSET is backed by permanently locked underlying assets generating continuous yield. Protocol buybacks increase overcollateralization over time, amplifying yield and compounding value back to holders. Rewards are dynamically routed between single staking and liquidity providers to support efficient markets, ensuring depth while maintaining strong yield for participants. plsASSETs transform locked positions into liquid, productive capital across DeFi. ## Available plsASSETs Plutus currently offers: * **plsKDK** * **plsBERA** * **plsGRAIL** * **plsSPA** * **plsRDNT** * **plsSYK** * **plsPLUTUS** (coming in Q2/2026) Some of these plsASSETs can also be deposited into Plutus native liquidity pools as [LP Tokens](#liquidity-pool-tokens). Currently included are plsGRAIL, plsSYK & plsSPA. {% embed url="" %} How plsASSETs work {% endembed %} ### Minting plsASSETs * Users may deposit BERA, KDK, GRAIL, SYK, RDNT, or SPA into Plutus, which are locked forever as sWBERA, xKDK, xGRAIL, xSYK, RDNT dLP, or veSPA, respectively. * Plutus issues a tokenized representation of the asset as a plsASSET (e.g., plsGRAIL, plsSYK, plsRDNT, or plsSPA). * Liquidity pools (LPs) should be the preferred method for entering plsASSETs, as they offer the most efficient entry. Current liquidity is available on Camelot and Kodiak. Direct conversion may often result in an immediate loss, so swapping is the smarter option for maximizing value. {% embed url="" %} A quickstart guide to get into plsASSETs {% endembed %} ### Staking plsASSETs * Stake plsASSETs on [Plutus](https://plutus.fi/Assets) to receive max-locked rewards * Positions remain liquid with no long-term lockups * Rewards accrue while staked * Note that [protocol fees](/protocol-fees.md) are applied to plsASSETs.

A handy flowchart regarding plsASSETs

### plsASSETs Liquidity Pools * In the future, Smart LPs will have the ability to mint tokens when the swap ratio exceeds 1:1. * When launched, users can swap plsSYK for SYK through plsASSETs-ASSET liquidity pools. Swap fees will be determined by Camelot. * The plsRDNT liquidity pool is live on Balancer. * Please note that the liquidity pool is not guaranteed to trade 1:1 with the underlying asset. The demand for both the asset and plsASSET determines the ratio of the liquidity pool. Plutus is not responsible for maintaining any ratio. ### Liquidity Pool Tokens You can also exchange certain ASSET-plsASSET combinations into a LP token through the Plutus [dApp](https://plutus.fi/Pools). The LP token can then be staked for rewards, which come from the same pool as the single stake plsASSET rewards. The exact distribution of the rewards differs between tokens and the state of the swap rates in their corresponding pools. If the swap rates are low, then more of the rewards will be going towards single staking. If the swap rates are good, then the rewards are going towards the staked LP tokens are increased.\ \ Currently available options are GRAIL-plsGRAIL, SYK-plsSYK, SPA-plsSPA. ### plsASSET buybacks Whenever a plsASSET's swap rate drops, Plutus will buy back some of the plsASSETs. This is done with the underlying tokens, thus providing more liquidity back into the pool. The buyback thresholds differ between products and market conditions but always aim for a 1:1 swap rate. These buybacks then feed into the overcollaterization, described below. {% embed url="" %} ### plsASSET overcollaterization A key part of plsASSETs is overcollaterization. A portion of the fees are used to acquire plsASSETs off the market, effectively taking them out of circulation. As the underlying assets still yield, but the plsASSET isn't farming rewards, those rewards compound for plsASSET users. {% embed url="" %} Let plsClippy explain overcollaterization for you {% endembed %} ### Discontinued plsASSETs These plsASSETs are no longer mintable, and liquidity has mostly been removed. However, redemptions are still available, allowing users to convert them back to the underlying assets. * plsJONES * plsARB ### Discord For the latest up to date information, join our [Discord](https://discord.com/invite/TkgcdYBSW4). --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.plutus.fi/products/plsassets.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.