What is PLU？
Plouto is an open and aggregate asset management platform that helps investors obtain excess investment profits with decentralized DeFi investment strategies. When the investor deposits, the protocol of Plouto will allocate the funds to the safe, reliable and profitable DeFi protocol, and a proof of equity called pToken will be generated to the investor. The investors can redeem the original deposited token and the corresponding income through pToken. PLU,with a total of 300,000, is a governance token issued by the Plouto protocol. For PLU, there is no private placement, no pre-mining, and no additional issuance, all are distributed fairly according to the proportion of liquidity provided.
The specific distribution of PLU is as follows，
Pool 1: 100,000, obtained by staking pDAI, pUSDC, pUSDT and pyCRV, the mining period is 60 days.
Pool 2: 80,000, obtained by staking the BPT that provides liquidity for PLU/DAI in Balancer, and the mining period is 60 days.
Pool 3: 60,000, under the premise of participating in community governance and staking at least 1,000 BPT in Pool 2, obtained by staking PLU, and the mining period is to be confirmed.
The remaining 60,000 PLU will be locked in the contract and fully managed by PLU holders, who will vote to decide whether to add more mining pools.
How to Farm PLU on the Plouto.finance?
Mining Notice Before participating in the mining of PLU, you need to prepare the following items:
- An Ethereum wallet (MetaMask Wallet,Coinbase Wallet, etc.)）
- Tokens required for mining, such as like DAI, USDC, USDT, yCRV, ETH/DAI Uniswap LP, etc..
Multiple wallets can be connected to Plouto, such as MetaMask, Coinbase Wallet and hardware wallets Ledger and Trezor. This guide will take MetaMask as an example to explain in detail how to use MetaMask to participate in mining for PLU.
1.Connect Wallet
1.1 Log in to Plouto’s website plouto.finance, enter the homepage and click ‘Connect Wallet’, and then click ‘MetaMask’.
1.2 After unlocking the MetaMask wallet, please follow the prompts on the page to select the wallet address you want to connect. Click ‘Next’ and click ‘Connect’ to complete the wallet connection.
2. Deposit DAI to get pDAI
2.1 Participating in mining requires to obtain the equity certificate pToken. Taking DAI as an example, we need to deposit DAI in the vault to obtain the equity certificate pDAI before starting mining for PLU. First, enter the ‘Vault’ interface and select the ‘DAI’ vault.
2.2 Enter the quantity you want to deposit (for example, ‘10’) and then click ‘Deposit’.
2.3 After clicking the ‘Deposit’, an authorization request of MetaMask to deposit DAI will pop up, then click ‘OK’. After a while, MetaMask will continue to pop up the ‘Deposit 10 DAI’ transaction, just click ‘Confirm’.
2.4 When the transaction is processed, the amount of pDAI obtained after depositing DAI can be seen on the ‘vault’ page. The amount of pDAI obtained is slightly lower than the amount of DAI initially deposited in the vault, which is normal. Because the value of pDAI is higher than DAI, and the price will maintain a steady increase, the revenue generated by the vault will automatically be converted into the currency DAI and return to the pool, while the amount of pDAI remains unchanged. In this way, the amount of DAI that can be redeemed by pDAI in the pool will increase, which leads to an increase in the price of pDAI.
3. Staking pDAI To Farm PLU
3.1 Click to enter the ‘Stake’ interface, and you will see the balance of the pDAI you have just exchanged. After confirming that it is correct, select ‘pDAI’ of ‘POOL 1’ for stake mining.
3.2 On the page of pDAI staking, we can stake a certain amount of pDAI to mine PLU. Note: The more tokens you stake, the higher rate of the mining reward will be, and the more PLU will be obtained.
3.3 After clicking ‘Stake’, MetaMask will pop up the authorization request and the request ‘Stake’ pDAI . Click ‘Confirm’ in turn to complete this operation.
3.4 After you successfully complete the staking, on the page of mining, you will be able to see the current staking amount of pDAI and the PLU rewards to be received, which means that you have officially started mining PLU. Click ‘Claim Rewards’ or ‘Exit: Claim Rewards and Unstake’ to withdraw the mining rewards to your wallet.
Congratulations!!! You have completed all the steps of mining for PLU. You will get the double benefit from the asset appreciation in the vault and the reward of PLU at the same time!
Plouto community:
Website: https://www.plouto.finance/home
Twitter: https://twitter.com/Ploutoprotocol
Telegram: https://t.me/ploutofinance
Discord: https://discord.gg/nfX5ax6
