Synthetic digital assets produce the same effect as ownership of the real asset with the added advantage of higher liquidity, fractional ownership, and increased availability for a broader range of market players.
This is why we are excited to announce that Plutos Network will integrate with the Elrond blockchain! This will enable their users to issue synthetic assets on our network and enable trading with assets on the different Layer 1’s integrated by the multi-chain platform.
Plutos Network is a multi-chain synthetic issuance and derivatives trading platform that introduces mining incentives and staking rewards to users.
Our collaboration will focus on integrating the Elrond mainnet into their multi-chain architecture and enable assets issued on our blockchain to be compatible with the platform and pairable with synthetics for commodities, stocks, bonds, and so on.
A portion of the Plutos token supply will also be issued as ESDT tokens to allow their holders to participate in DeFi opportunities on the Maiar Exchange.
The integration is important for the Elrond Network as it expands the utility of tokens issued on our mainnet and makes them directly exchangeable with a larger span of real-world assets and their derivatives.
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
About Plutos Network
Plutos Network is a cross-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.