- Cardano introduces Plutus V3 engine, enhancing smart contract functionalities
- Cardano (DA) price has surged following the launch of the new engine.
- PLX token presale coming to an end, with $8,242,734 raised.
Cardano, a leading Proof-of-Stake (PoS) blockchain, has unveiled its highly anticipated Plutus V3 engine, aiming to revolutionize smart contract functionalities and drive developer innovation.
At the same time, Pullix, a new DeFi protocol, is gearing up for the listing of its PLX token on two exchanges once the presale comes to an end.
Cardano’s Plutus V3 Engine
The Plutus V3 engine, introduced by Cardano, is a significant upgrade poised to enhance performance and functionality on its PoS network. The engine is designed to augment smart contract capabilities and is set to drive intrigue among developers seeking advanced blockchain solutions.
👀 Introducing PlutusV3 – a new ledger language now available for testing on #SanchoNet.
With improved smart contract adoption, governance support, and enhanced interoperability, #PlutusV3 unlocks more possibilities for builders.🔓
🧵1/6 pic.twitter.com/F8dFV4c2lD— Input Output (@InputOutputHK) February 27, 2024
The newly launched Plutus V3 engine brings forth enhanced cryptographic capabilities, including optimal algorithm usage, Ethereum porting ability, and sidechain bridging. Notably, the introduction of Sum of Products (SOPs), an efficient data coding method, aims to optimize script size and boost smart contract execution speed on Cardano.
Charles Hoskinson, the founder of Cardano, has expressed optimism about the monumental steps Plutus V3 will bring to the protocol. With a focus on interoperability with other blockchains, Cardano anticipates increased adoption, governance support, and overall network scalability.
Cardano (ADA) price reaction
The unveiling of Plutus V3 has not only sparked excitement among developers but has also led to a surge in the price of ADA, Cardano’s native cryptocurrency. On February 25, ADA witnessed a notable 24% price gain, currently trading at $0.623 with a 4.88% increase in the last 24 hours.
The broader spot Bitcoin ETF hype and sentiments surrounding Cardano Plutus V3 have contributed to this positive movement.
Pullix: innovative ‘Trade-to-Earn’ platform
While Cardano pushes the boundaries of blockchain technology, Pullix emerges on the scene as a new DeFi protocol, introducing a hybrid exchange with a unique proposition — “Trade-to-Earn.”
At the core of Pullix’s ecosystem is the native token, $PLX, empowering the community to earn a portion of the daily revenues generated by the exchange.
Pullix goes beyond traditional trading platforms by rewarding traders who hold $PLX tokens. A percentage of the daily revenues is used to purchase $PLX tokens from the open market and burn them, effectively reducing the token supply while increasing demand. This mechanism encourages users to hold $PLX, providing them with passive income, trading discounts, and exclusive rewards.
Pullix stands out with a no KYC (Know Your Customer) requirement for its traders. This crypto deposit-only system for payments eliminates the need for extensive documentation, providing a seamless experience for deposits, withdrawals, and trading conditions, including leverage of up to 1000:1.
Pullix emphasizes security with a smart contract that has successfully passed a security audit from Interfi Network. The team plans to lock the liquidity pool for 24 months after the launch, mitigating the risk of a rug pull. The roadmap outlines development plans, including presale launch, license acquisition, and the launch of PLX on various crypto exchanges including UniSwap and BitMart.
PLX token presale
Pullix is currently in the midst of the presale phase of the PLX token, offering an opportunity for early investors to secure its native token at a discounted rate. Currently in the last state christened ‘Bonus Round,’ the price is $0.14 per PLX token.
Notably, the presale has already raised an impressive $8,242,734, with 86.6% of the total tokens already sold.
Once the presale comes to an end, investors can anticipate the listing of PLX on UniSwap on March 4, 2024, followed by a listing on BitMart on March 7, 2024. Pullix’s decision to list on both decentralized and centralized exchanges demonstrates its commitment to providing diverse trading options for the community.
To participate in the PLX token presale, visit the official Pullix website to purchase the amount of tokens you want.
Pullix token burning and revenue allocation
Pullix plans to buy back and burn PLX tokens, reducing the circulating supply and potentially increasing token value. The buy-back strategy involves allocating a percentage of net revenue, ranging from 10% on forex revenue to 30% on daily Multiples revenue.
PLX holders will have the opportunity to stake PLX tokens in Pullix’s market-making liquidity pool to earn a passive income, with interest rates ranging from 8% to 18% per annum. The interest rate is determined by the lock-up timeframe and withdrawal frequency chosen by the staker.
Conclusion
Cardano’s Plutus V3 and Pullix’s innovative “Trade-to-Earn” platform with the PLX token offer crypto investors a variety of investment opportunities.
Nevertheless, owing to the volatile nature of the cryptocurrency market, investors should exercise due diligence when investing.
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