Grazing Range Pool #39 — Welcoming PLUT to the herd!

This post was originally published on Alpaca Finance

Grazing Range Pool #39 — Welcoming PLUT to the herd!

Dear alpacas,

We senior alpacas are excited to welcome our newest addition to the range — Plutos Network.

All you young alpacas will be able to stake ibALPACA for $94k USD in PLUT rewards, which will be distributed over 4 weeks in the Grazing Range. The pool will go live on Nov 30th, 2021 at 10:00 AM GMT. As usual for a Grazing Range pool, you will also have a chance to earn exclusive NFTs if you meet the staking criteria.

A leveraged yield farming pool for PLUT may be supported in the future if it meets the minimum liquidity requirements.

🎁Grazing Range Reward Details

Total Rewards: 386,000 PLUT (~$94k USD)

PLUT Token: 0x2984f825bfe72e55e1725d5c020258e81ff97450

Rewards Period: 4+ weeks

biswap

Rewards Start Block: 13,082,600 (Approx. Nov 30th, 2021 10 AM GMT)

Rewards End Block: 13,889,000 (Approx. Dec 28th, 2021 10 AM GMT)

Distribution Schedule:

Exclusive NFT Cards for Pool’s Stakers

To be eligible, you must stake ibALPACA in the PLUT Grazing Range pool before December 1st, 10 AM GMT (1 day after the pool opens) and stake until at least December 28th, 10 AM GMT (for 27 days). The NFT tier you receive will be based on the amount of ibALPACA staked.

  • Green Tier: staked at least 500 ibALPACA
  • Silver Tier: staked at least 5,000 ibALPACA
  • Gold Tier: staked at least 50,000 ibALPACA

About Plutos Network

Plutos Network is a multi-chain synthetic issuance & derivative trading platform which introduces mining incentives and staking rewards to users. By integrating blockchains such as Solana, Polkadot, and BSC, enabling on-chain and cross-chain liquidity and trading, Plutos Network is to offer users synthetic issuance and trading services for a wide range of synthetic products which are sustainable, profitable, and disruptive to the traditional derivative market.

🔒Security Score Card on PLUT

Have the contracts been audited by professional auditing firms?

Yes, our contracts have been audited by Certik and PeckShield.

What is the project’s inception date?

Plutos Network was launched in June 22, 2021.

Has your project even been involved with a hack or exploit?

No, we have not been involved with any hacks or exploits.

What safety measures are in place to secure your protocols from centralization risk? What contracts are not under timelock? Who has multi-sig?

There are 3 key points to highlight regarding our safety measures.

  1. We have our contracts audited by CerTik and PeckShield.
  2. We put timelock on our main contracts.
  3. We have multi-sig implemented where only the core team members are authorized for the multi-sig.

Does your token have a maximum supply cap?

Yes, the maximum supply for PLUT is at 100,000,000 tokens.

Mint function. If Token does not have maximum supply, how is the mint function controlled?

When PLUT tokens are minted, the exact amount of PLUT tokens will be locked to maintain the circulation, so the maximum supply remains unchanged.

Centralized treasury. If the protocol collects fees, where do they go and how are they controlled? Is there any kind of treasury or insurance fund under centralized control?

We do apply insurance fund under the team’s control in case of extreme situations.

Migration Function. Is there a migration function in the code? Why is this there and how to control this function from making a malicious action?

No, we do not have a migration function implemented to our code.

Upgradeable contracts. Are the contracts upgradeable? Why is this there and how to control this function from making a malicious action?

Our current contracts is not upgradeable, unless it is required due to the changes in business logic.

Third-party risk. What underlying external parties do your contracts rely on?

We do not have any third-party risks relating to our contracts.

Where are your tokens currently listed?

For CEX, we are listed on MEXC.

As for DEX, we are listed on PancakeSwap.

Please briefly describe the utility of your tokens and all the relevant tokenomics (e.g., burn, staking, locking, etc.)

PLUT is the native utility token in Plutos Network, which is used to pay for the transaction fees and synthetic issuance services and also for the deposits of any on-chain applications. Besides, the PLUT holders will be able to vote on proposals from the community and even decide how the ecosystem fund will be used in Plutos Network.

Does your token have any advanced mechanics such as deflationary/rebase/reflexive?

No, our token does not have any of those mechanics.

Please share your project’s roadmap

You can find our project’s roadmap here.

What % of the token supply is/will be controlled by the team?

Around 50% of the supply will be controlled by the team.

What % of the token supply is controlled by investors? What is the token distribution model?

20% of the token supply will be distributed to investors. Please see our tokenomics here.

Please share the profile of key team members

You can see the profiles of our key team members in our LinkedIn.

What monitoring or controls do you have in place that could catch issues, functions, or delay attacks to protect assets?

We have third-party auditing and security checks on regular basis.

Do you have a bug bounty program in place/planned?

No, we do not have a bug bounty program right now.

Safety practices. Is there someone dedicated to security on the team? Does your git include your test/QA scripts? Describe your current IS/QA processes? Will you commit to auditing your code at least quarterly/semi-annually/annually and for major updates and releases?

Our Blockchain architect is responsible for the design and implementation of all aspects related to on-chain and off-chain security, and our CTO is responsible for security operational monitoring and compliance.

Our Git repos contain tests for all extrinsics that can be called and for all storage related migration functions.

Our QA process includes automated unit and integration tests in the development environment, followed by a test runtime upgrade in the staging environment.

It is our intent to do periodic auditing for mainnet releases, and also additional one-off auditing for specific critical releases.

To learn more about Plutos Network, you can visit their official communication channels:

Website · Telegram · Twitter · Medium · LinkedIn · Docs


Grazing Range Pool #39 — Welcoming PLUT to the herd! was originally published in Alpaca Finance on Medium, where people are continuing the conversation by highlighting and responding to this story.

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