PLUTUS

PLUTUS

Plutus token (PLUTUS), a LayerZero OFT (Omnichain Fungible Token), is the cross-chain yield- and governance layer backing the Plutus protocol and ecosystem. It was launched on Arbitrum, Berachain and soon to be many more chains.

Staking PLUTUS

You can stake your PLUTUS tokens into xPLUTUS in a 1:1 ratio, which then allows you to enjoy the yield as well as DAO voting.

Bridging PLUTUS

You can bridge PLUTUS through the Plutus dApp, using LayerZero integration. This allows you to move your tokens from one chain to another eligible chain. Please note that bridging does incur fees in addition to gas. More into on bridging can be found here.

xPLUTUS

The yield-bearing Plutus escrowed token (xPLUTUS) will be the main beneficiary of the protocol Plutus and will be counted as the votes for the DAO. xPLUTUS is available on each chain PLUTUS, the LayerZero OFT, is deployed on.

Yield for xPLUTUS

Plutus buys back PLUTUS using revenue and productive treasury funds and distributes this PLUTUS-denominated real yield to xPLUTUS stakers. Thus funnelling circulating supply to those most aligned with the protocol. In other words, xPLUTUS tokens earn yield primarily in the form of PLUTUS.

Redeeming xPLUTUS

Once you have xPLUTUS, after a full vest of 180 days, you can redeem everything back at 1:1 ratio. Alternatively, you can opt for a shorter period and forfeit a part of it. The minimum time is 14 days, at which point you get 0.5 PLUTUS for every xPLUTUS you redeem. The ratio grows linearly to 1:1 at 180 days of vesting.

DAO Voting

xPLUTUS tokens count as votes in the DAO (Decentralized Autonomous Organization), therefore allowing xPLUTUS holders to participate in the protocol's decision making. The voting is done through Snapshot. You can find additional information on voting in the Governance page.