Protocolul Pluto has launched its reserve currency on the Waves blockchain. The currency is said to resist market conditions such as the bear market. The token PLUTO was recently launched, supported by a treasury and a market-making algorithm meant to create a predictable range for the token’s price.
The treasury creates a backed price based on the total value of its collateral. The algorithm buys back PLUTO tokens when the price is too low and mints new tokens when the price is too high.
Pluto Protocol aims to help crypto investors generate sustainable yields on crypto assets that would otherwise be dormant. Speaking on the launch, a representative of Pluto Protocol said:
„Suntem încântați să lansăm PLUTO. Este clar că acum ne aflăm într-un downmarket și, mai mult ca niciodată, piața cripto are nevoie de ceva mai proiectat, care să poată fi rezistent la forțele externe. Acesta este ceea ce ne propunem să facem cu Pluto, să creăm ceva care poate oferi un randament durabil chiar și pe o piață ursară.”
Once launched, users of the protocol will be able to use the protocol features, namely onboarding and staking. The onboarding feature lets users add collateral directly to the protocol in return for a bonus paid at the end of a lockup period. In contrast, the staking feature provides a flexible way to earn an additional yield on PLUTO without any lock-in period.
At its core, the Pluto protocol is a decentralized reserve currency based on the Waves blockchain. Its design makes it a sustainable token model that uses dynamic pricing adjustments and treasury backing, making it a reserve currency.
Source: https://zycrypto.com/pluto-protocol-launches-bear-market-resistant-reserve-currency-on-waves-blockchain/