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Plenty Set to Launch Advanced V3 Decentralized Exchange on Tezos Today
Decentralized exchange, Plenty, is poised to enhance the decentralized finance (DeFi) experience on Tezos with the imminent launch of its advanced “Plenty V3” exchange. The announcement made via the platform’s Twitter account confirmed the launch date to be today, September 20th.
By: XTZ News
20 September 2023
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Decentralized exchange, Plenty, is poised to enhance the decentralized finance (DeFi) experience on Tezos with the imminent launch of its advanced “Plenty V3” exchange. The announcement made via the platform’s Twitter account confirmed the launch date to be today, September 20th.
🚨BIG ANNOUNCEMENT 🚨
Get ready to level up your #DeFi experience with #PlentyV3, our most advanced DEX yet!
Mark your calendars – Launch Date: September 20th! 📅
Plenty highlighted the distinct features of the V3 platform in a series of tweets:
Concentrated Liquidity: Plenty V3 introduces a departure from the uniform distribution of liquidity, offering a new paradigm for liquidity management that enhances capital efficiency.
Dynamic NFTs: Liquidity positions in Plenty V3 are uniquely represented as NFTs with customizable ranges, a feature that enables them to be traded on marketplaces.
Powerful SDK Interface: Developers have reasons to cheer with the introduction of the Plenty V3 SDK. This enables them to craft custom DeFi solutions with greater ease and flexibility.
Superfast Analytics: Ensuring traders and liquidity providers make informed decisions, Plenty V3 promises real-time, lightning-fast analytics.
Spotlight on Plenty V3’s Concentrated Liquidity
Amid the array of innovations heralded by Plenty V3, the introduction of Concentrated Liquidity stands as a testament to the platform’s commitment to elevating user experience and capital efficiency. Unlike the traditional model where liquidity is dispersed across a broad spectrum of prices, this new mechanism enables liquidity providers (LPs) to narrow down their focus, consolidating their assets around the prevailing spot price. Such precision not only intensifies liquidity but also significantly minimizes slippage, ensuring smoother and more efficient trades.
The real genius of this feature, however, lies in its adaptability. LPs are now at the helm, empowered to tailor their strategies based on risk appetite. Whether opting for a passive approach that offers consistent, albeit smaller rewards, or diving into the high-reward realm of aggressive strategies, LPs have the tools at their fingertips to make informed decisions. But, as with all high-reward endeavors, the aggressive approach demands vigilance, lest one’s assets stray out of the designated price range and halt earnings. As Plenty D3 moves closer to its launch, it’s clear that such innovations are set to redefine the contours of decentralized exchanges.
Plenty V3 Positions NFTs
As part of its teaser campaign leading up to the launch, the platform also provided a sneak peek into the design of its “Plenty V3 Positions NFTs”. Crafted by artist @varundo_, these NFTs will showcase several features including Pool Ticker, Fee Tier, Min & Max Tick, and Position Size.
🔥 Sneak Peek Alert! 🔥
Introducing Plenty V3 Positions #NFTs, designed by @varundo_ 🎨
A captivating detail of these NFTs is that the curve’s shape will dynamically alter based on the min-max tick difference.
A detailed update on the platform reveals that Plenty has emerged as a pivotal component of the Tezos ecosystem, committed to creating a secure and reliable financial market for traders, liquidity providers, and developers. Since the debut of Plenty V1 and V2, there has been notable growth in the Tezos DeFi landscape.
The Plenty Rollup
The introduction of the “Plenty Rollup” is a testament to the platform’s commitment to pioneering DeFi solutions on Tezos. This system promises instant transactions with zero gas fees, high scalability of approximately 2000 transactions per second, and robust security measures.
One of the significant evolutions in the DeFi space has been the development of Uniswap V3, which brings forward an array of compelling features. Plenty V3 has aligned with these developments, integrating many of these features. This includes the pioneering Uniswap V3 SDK on Tezos, enabling developers to craft next-gen DeFi solutions. In a nod to community collaboration, Plenty’s SDK and smart contracts will be open-sourced.
Plenty is also gearing up for the V3 Mainnet launch and has future plans centered around the development of Rollup technology. This is set to ensure faster and more affordable transactions specifically tailored for the Tezos network.
In addressing concerns about the transition from Plenty V2 to V3, the platform confirmed its commitment to continue supporting Plenty V2. While migration from V2 to V3 is optional, it could prove beneficial for liquidity providers given the anticipated shift in trading volume.
Regarding the significance of a Uniswap V3-style AMM on Tezos, collaborations are underway with various Tezos protocols, signaling considerable interest in the upcoming Plenty V3. Beyond just benefiting Tezos DeFi, the V3 version is also expected to be a cornerstone for further progress in gaming and NFT development on the Tezos network.
The Plenty team remains resolute in its mission, fostering an all-encompassing decentralized platform on Tezos. As the DeFi landscape continues to evolve, Plenty’s efforts underline its commitment to be at the forefront of this evolution, ensuring a thriving future for DeFi on Tezos.
Decentralized exchange, Plenty, is poised to enhance the decentralized finance (DeFi) experience on Tezos with the imminent launch of its advanced “Plenty V3” exchange. The announcement made via the platform’s Twitter account confirmed the launch date to be today, September 20th.
As announced earlier this year, Plenty DeFi and Wrap Protocol will merge into a one-stop DeFi network: Plenty Network. It is currently on ghostnet and is simultaneously undergoing an external audit.
The current governance tokens from both Plenty DeFi and Wrap Protocol will merge into one governance token: PLY.
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TezFin has officially moved from its beta stage to launch its full production version, initiating a new era in the Tezos blockchain’s decentralized finance (DeFi) lending sector. The announcement was made through TezFin’s official Twitter handle, @TezosFinance.
Fireblocks has announced the launch of its comprehensive support for Tezos. This development allows Fireblocks customers to securely manage FA1.2 and FA2 token standards on Tezos and utilize Fireblocks’ Web3 Engine to develop new products and services on the Tezos blockchain.
Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.
Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.
User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.
Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.
Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.
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