> For the complete documentation index, see [llms.txt](https://docs.plutus.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.plutus.fi/products/plsassets/plsplutus.md).
# plsPLUTUS
A quick reference on [plsASSETs](/products/plsassets.md).
plsPLUTUS is an upcoming plsASSET, not yet available. plsPLUTUS is slated for Q2/2026.
**plsPLUTUS** is a plsASSET version of [**xPLUTUS**](/tokenomics/plutus.md#usdxplutus), 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](/tokenomics/plutus.md#redeeming-usdxplutus) 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](https://plutus.fi/). 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.
### Fees
Plutus takes a 12% **performance 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.
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