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.

$xPLUTUS

The yield bearing escrowed version 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 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.