Today marks the grand-reveal of Plenty, a much anticipated decentralized financial application aimed at kickstarting the first capital-efficient yield farming program on the Tezos blockchain. The project’s native token $PLENTY is fully decentralized and available for trading on Quipuswap.
Plenty comes at a perfect time as gas fees on the Ethereum network make it nearly impossible for new users to experience the power of decentralized finance and all that it brings. This latest DeFi gem is brought to you by a collaboration between Tezsure and DGH Labs, a Dubai-based Blockchain incubator powered by Draper Goren Holm.
Plenty Prides itself on three main design features:
- Low fees – Plenty runs on Tezos, a Proof of Stake blockchain that has much lower transaction fees than other blockchains such as Ethereum.
- Decentralized – Trade directly from your favorite wallet. Unlike centralized exchanges, Plenty doesn’t control your funds. You have 100% ownership of your own tokens.
- Sustainable – Tezos consumes over two million times less energy than Proof of Work blockchains like Bitcoin or Ethereum. The minimal carbon footprint of Tezos means developers and users can prioritize innovation, without compromising sustainability.
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$PLENTY’s purpose stems from a variety of different use cases defined in the roadmap, though its first applications will be yield farming and LP staking.
“Liquidity is the backbone of DeFi. Plenty incentivises liquidity providers from other chains to try Tezos; the most technologically advanced of all blockchains to date with near-zero fees and on-chain governance.” said Tezsure co-founders Om Malviya and Bernd Oostrum.
Those who hold $PLENTY will govern the community with votes on new features, token burning and general direction. Neither Tezsure nor DGHLabs will have exclusive control over the direction the platform will be taking.
Josef Holm, Founding Partner at Draper Goren Holm, said, “I hope Plenty creates that initial snowball effect for DeFi in onboarding capital from other networks to Tezos. Plenty was designed with the modern day user in mind, taking advantage of the network’s low gas fees and energy efficiency by design – it’s perfect for the next wave of mass adopters.”
