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PlutuSwap Swap Protocol Aims To Be The Next Big DEX On The Cardano Blockchain

John Williams

Sep 10, 2021 — 1 min read

PlutuSwap races against time in the development of its Automated Market Maker platform, which they promised that when launched, it will be the choice DEX/AMM platform for the Cardano Blockchain.

Plutuswap is a decentralized exchange using the Extended Automated Market Maker (EAMM) protocol as its backbone, built on the Cardano Blockchain Infrastructure utilizing the UTXO mechanism. AMM based decentralized exchanges works by replacing the traditional order books with liquidity pools that are pre-funded on-chain for both assets which will facilitate instant swaps and trades of the pairs.

The liquidity on decentralized exchanges are made possible by Liquidity Providers who generate passive income on their deposit through trading fees based on the percentage of the liquidity that they provide. Automated Market Marker (AMM) based Decentralized exchanges has gained a lot of momentum with the massive Outburst of Blockchain Technology.

Capitalize on AMM

PlutuSwap.com aims to capitalize on the widely accepted AMM based Decentralized Exchange protocol and they are one of the first pioneers of this mechanism on the Cardano Ecosystem as it develops and with the alonzo hard fork coming up in few days which will enable project owners and developers create and deploy smart contracts on the cardano blockchain.

Smart contracts are computer codes that will execute functions when predefined conditions are met. With this, users can create new native cardano tokens and further extend the usefulness of Cardano.

PlutuSwap Ecosystem

The PlutuSwap Ecosystem will also include Stake Pools, Liquidity Provision, Novel Token Launch Mechanism and a Cross Chain Trading Protocol which will be powered by its Cardano native utility governance Token $Plutu, which has a total supply of 100,000,000.

PlutuSwap Initial Stake Offering for Early Adopters is ongoing as you can be one of the first holders of the $PLUTU tokens.

You can join the ISO to become holder of $PLUTU tokens through the details below:
Website: https://plutuswap.com

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