plsPLUTUS

A quick reference on plsASSETs.

$plsPLUTUS is a plsASSET version of $xPLUTUS, Plutus' in-house governance and yield-bearing token. Being liquid, plsPLUTUS combines the benefits of $xPLUTUS yield and ability to be traded on the market, thus bypassing need to redeem through vesting to exit.

As with all plsASSETs, users will forfeit the governance rights of their converted tokens in exchange of the overcollaterized yields.

Converting to $plsPLUTUS

xPLUTUS can be converted to $plsPLUTUS and back to $xPLUTUS at 1:1 ratio. The conversion is done through the Plutus dApp. $plsPLUTUS can also be acquired through a $PLUTUS-$plsPLUTUS Liquidity Pool.

Overcollaterization

Like all other plsASSETs, $plsPLUTUS is an overcollaterized asset, meaning there are more yield-bearing than yield-earning tokens. The level of overcollaterization defines the amount of extra yield paid to $plsPLUTUS holders from the underlying $xPLUTUS tokens. Plutus does, however, take a 12% fee on the underlying yield. Generally this fee is outweighed by the overcollaterization, resulting in higher net yield for $plsPLUTUS than $xPLUTUS, but the protocol can't guarantee that to be always the case.