Plethori AMA recap @ CryptoMoonShots
Innerspeaker:
Hi @CallumMC and welcome, thank you for agreeing to do this AMA with us
Callum MC | COO @ Plethori:
Hello mate, and hi CMS. Pleasure, thanks for the invitation
Innerspeaker:
Let’s start with an introduction — what is Plethori?
Callum MC | COO @ Plethori:
Sure
Callum MC | COO @ Plethori:
Plethori is a crypto-ETF creation and trading protocol. Built on Ethereum and powered by Avalanche. Our ETFX (ETF exchange) facilitates both the creation and trading of decentralized crypto-ETFs.
Callum MC | COO @ Plethori:
Our V1, Public Funds hosts a range of Plethori-designed and curated ETFs, our V2 which is scheduled for launch Q2 2022 will empower users with the ability to design and manage their own Crypto-ETFs, competing against one another on our leaderboards for top fund manager, with our own Chimera NFTs to be earned as rewards for achieving certain milestones within the platform. Fund creators will also take part in the fee sharing stucture — every time their ETF is traded, they’ll earn a percentage of the TX fees
Innerspeaker:
Can you tell us a bit about the team behind the project? Do you guys have any previous experience with ETFs or other crypto projects?
Callum MC | COO @ Plethori:
Absolutely, will go through and briefly introduce the team. You can also take a look at the team page on our website for more info and links to LinkedIn etc (https://plethori.com/team/)
Callum MC | COO @ Plethori:
Our exec team is made up of myself, Jay and Max, our BOD comprises Neil, Deon, Albert and Peter. We also have a very strong development team powering the machine.
Deon joined the team in August when I took over as CEO. He helped construct the first ETF in South Africa 25 years ago, and now works for a very large investment firm in London. Peter runs his own fund in Sydney, and holds several Financial Services licenses there, he and Neil are currently working on our licensing applications. Neil has been on the board of directors for a number of large firms in Sydney, and has provided invaluable connections through his network.
Personally, I’ve been running my own business in the UK for the last 10 years, Max has a strong background in digital marketing, having run big campaigns for Fujitsu, and Jay and Albert both run their own firms in Sydney. Albert runs his own SaaS firm in the property sector and has 40+ years experience in systems architecture.
Innerspeaker:
Thanks. Impressive backgrounds, seems like a very solid team
Callum MC | COO @ Plethori:
Yep. We’re certainly here for the long term.
Innerspeaker:
Let’s talk about the platform — what will be the role of the token in the ecosystem? Why should people buy and hold $PLE and where can they do that?
Callum MC | COO @ Plethori:
PLE is our native utility token. Serves several purposes within the platform itself:
- Each and every ETF (both public AND private) will be made up of 5% PLE. As we have a finite supply of 100million tokens, this PLE will be market bought with the creation of each new ETF, having a deflationary effect and also constantly putting upward pressure on it’s value.
- PLE is required by users to access our ETFX platform.
- PLE is required to pledge on our ETF whitelists (you can head over to our website and pledge now for our upcoming Polkadot Ecosystem Fund (PEF). https://plethori.com/whitelist/
- Using PLE to pay our exchange fees will attract a 50% discount, putting constant upward pressure on its value.
- PLE can also be used to earn passive income in our 40% APY Staking Pools (currently live on ethereum network, and launching on the avalanche network in mid-January)
- Finally, PLE will also be used to reward liquidity pool farmers. We will be releasing our own LP farms on both avalanche and Uni in Q1 2022
Callum MC | COO @ Plethori:
Currently available on Uniswap V3 (https://app.uniswap.org/#/swap?outputCurrency=0x3873965e73d9a21f88e645ce40b7db187fde4931) and Trader Joe (https://traderjoexyz.com/#/trade?outputCurrency=0x47aa3650cff9930f277d4670db138da818e1a3ca)
Innerspeaker:
So you are on AVAX as well? Can you tell us a bit about this and why do you think it could be beneficial for the project?
Callum MC | COO @ Plethori:
Yes we launched our ETH<>AVAX bridge on Wednesday this week. PLE holders can now bridge directly between the two via Bridge link on our website.
Callum MC | COO @ Plethori:
Avalanche was an easy decision to make.
Callum MC | COO @ Plethori:
They are by far the fastest growing network and favourited to become the new home of DeFi. Just over 1 year since launch, they are already transacting around 80% of the total occurring on Ethereum, and new projects such as Plethori are joining everyday. No-brainer.
Callum MC | COO @ Plethori:
They are the fastest blockchain in terms of time-to-finality (<2 seconds), they’re incredibly cost efficient (a few cents per transaction as opposed to the incredibly high gas fees people are paying on Ethereum), and all of this whilst maintaining the highest levels of security. We’ve recently released an article on Avalanche consensus protocols and how they will benefit Plethori. In a nutshell, powering our protocol with Avalanche will allow us to scale much more quickly, helping us reduce costs to our users, as well as costs to the project, meaning we can pump more revenue back into the protocol.
Innerspeaker:
Thanks. Could you link us to this article please, sounds interesting
Innerspeaker:
Agreed that AVAX is a no-brainer
Callum MC | COO @ Plethori:
Can I interupt this AMA for a second to update your community on an announcement we’ve just released regarding our newest advisor.
Callum MC | COO @ Plethori:
https://twitter.com/plethori/status/1476908697284747274?s=20
Callum MC | COO @ Plethori:
Plethori are delighted to welcome the newest addition to our advisory team — Dominic Ryder, CEO of vEmpire (https://t.me/vEmpirediscussion) 🎉
Dom will be providing general blockchain advisory for Plethori, and more specifically, advice in relation to Plethori’s upcoming Metaverse ETF 🚀
https://twitter.com/plethori/status/1476908697284747274?s=20
Warm welcome Dom.
Innerspeaker:
Sure, this is some exclusive alpha, thanks for sharing it here first
Callum MC | COO @ Plethori:
😉
Callum MC | COO @ Plethori:
[In reply to Innerspeaker | Owner of CryptoMoonShots]
Sure will grab the link, one sec.
Innerspeaker:
Metaverse ETF? This sounds really interesting, can you tell us a bit more about it?
Callum MC | COO @ Plethori:
[In reply to Innerspeaker | Owner of CryptoMoonShots]
link.medium.com/SMWKDdQfmmb
Callum MC | COO @ Plethori:
[In reply to Innerspeaker | Owner of CryptoMoonShots]
Afraid not just yet, we’re in the process of developing it right now and not at liberty to give anything away. I can tell you however that it will not disappoint.
Perhaps we’ll arrange another AMA with you guys to give you first insight once it’s ready 👀
Innerspeaker:
[In reply to Callum MC | COO @ Plethori]
Sounds awesome, let’s do it! Excited to learn more
Innerspeaker:
About $PLE — as it exists on both ETH and AVAX how will this affect the supply? Also how many $PLE tokens are there in circulation currently?
Callum MC | COO @ Plethori:
The bridge doesn’t impact total available supply. On the AVAX side, tokens are minted/burned each time a bridging takes place. On ETH side the tokens are held securely in a smart contract and can only be dispensed once the tokens are burned on AVAX. Our total supply will retain equilibrium at 100 million.
Current circulating supply is just over 40million. Our final seed/private disbursement is next Tuesday, 4th Jan. CG and CMC will be updated to reflect total circ supply at that point.
Innerspeaker:
[In reply to Callum MC | COO @ Plethori]
Thanks, so that makes around $2m mcap currently? Seems very undervalued. Still under the radar for a lot of people..
Innerspeaker:
I see that you have staking on the website. Is this active and working? Also do you plan to add any other yields? How will the supply be distributed?
Callum MC | COO @ Plethori:
[In reply to Innerspeaker | Owner of CryptoMoonShots]
Yep very low MC. Tbh we’ve been getting our heads down and establishing a firm base before spending a tonne on marketing. Appreciate this isn’t the norm in crypto, but as I said before we’re here for the long term.
Plethori protocol is about facilitating mass adoption. Catering not just for the crypto community, but also for the TradFi. As first-to-market we’re planning to capture a good chunk of the Crypto-ETF industry. Considering the tradfi ETF industry is over $10trillion. The influx into crypto-ETFs will be substantial.
Callum MC | COO @ Plethori:
Now as our ETFX is getting close to launch, and we’re dropping products like our bridge, 40% APY staking platforms and upcoming farming platforms + several new listings, we’re really starting to fuel the fire, marketing-wise
Innerspeaker:
[In reply to Callum MC | COO @ Plethori]
Always good to see a project focusing on building their product first instead of just hyping before anything is ready
Callum MC | COO @ Plethori:
[In reply to Innerspeaker | Owner of CryptoMoonShots]
exactly
Innerspeaker:
[In reply to Callum MC | COO @ Plethori]
I agree, ETFs on chain have a massive potential which is yet to be explored
Innerspeaker:
So is the staking currently active or will be live soon?
Innerspeaker:
[In reply to Callum MC | COO @ Plethori]
Can you tell us about the farming? Is it going to be a LP farm?
Callum MC | COO @ Plethori:
[In reply to Innerspeaker | Owner of CryptoMoonShots]
Our ETH-side staking platform went live a couple of weeks ago. Over 25% of our circ supply is currently locked up in that platform (when I say locked there’s no real lock, users stay in control of their funds at all times and can withdraw whenever they want)
Callum MC | COO @ Plethori:
Our AVAX-side staking is just about to ready to go. Planning launch mid-Jan
Callum MC | COO @ Plethori:
both offer 40% APY, accumulating each block, both base and rewards can be withdrawn at any time, and rewards can also be compounded with one transaction (rather than having to claim and restake)
Innerspeaker:
Awesome. No reason not to stake your $PLE tokens right now and earn that sweet passive income, decent APY.
Callum MC | COO @ Plethori:
[In reply to Innerspeaker | Owner of CryptoMoonShots]
Yep. We’ll launch farms for LP on both Uni and TJ.
TJ is standard, as their LPs are on a normal XY axis. Uni V3 is slightly more complex due to concentrated liqudity, so users are staking an NFT (Uni V3 LPs represented as ERC721 token). Both are nearly ready for launch. And will be submitted to Hacken shortly for the standard security audits.
Callum MC | COO @ Plethori:
Hacken have carried out all audits for us to-date. Links can be found on our website, via “Discover” in top menu
Callum MC | COO @ Plethori:
[In reply to Innerspeaker | Owner of CryptoMoonShots]
Yep. Reasonably sustainable. However still only aimed as an incentive for early birds.
Callum MC | COO @ Plethori:
We expect the staking platforms to last around 12 months
Innerspeaker:
Hacken is a known name in the crypto space, good to see that you guys take security seriously, with hacks happening constantly this is a massive confidence boost for every investor
Callum MC | COO @ Plethori:
No cost is spared when it comes to security. Our lead developer Mark Yosef is an auditor himself. Prior to joining Plethori he worked for years as a smart contract security researcher and programmer. Doesn’t mean we forego the external audits, but it does mean they pass flawlessly first time 👍
Innerspeaker:
Can you tell us a bit about your marketing plans for the near future? Do you have partnerships with any influencers or communities that will help spread the word about Plethori? What can we expect marketing wise in the coming weeks?
Callum MC | COO @ Plethori:
We’re really ramping up the marketing now. We have a good network with a team of solid organic influencers who support Plethori. We’re not about paid promos or sponsored videos, people see straight through that sort of paid marketing, and it’s not effective.
We tend to team up with influencers who are also PLE holders, some bought during our private sales back in April and are still strong supporters of the project.
We have a number of partnerships that can be found on our website, including but not limited to: Dextools, Parsiq, Kylin, Polkafoundry, Stater Finance, Qan, QuiverX and more — partnerships, as well as helping with the structure and development of our protocol, also serve the purpose of connecting communities together.
Callum MC | COO @ Plethori:
Our internal marketing department focus strongly on content and campaigns. Providing good educational content is very important in the space we’re working in — ETFs are a relatively new concept for many, yet such a powerful tool for investing profitably. By providing educational material we help minimize our users’ risk — and hopefully enhance their ability to becoming successful fund managers themselves.
Callum MC | COO @ Plethori:
We’re running a NYE campaign right now on Twitter, to celebrate a successful end to 2021 and our recent bridge launch and Trader Joe listing
Callum MC | COO @ Plethori:
https://twitter.com/plethori/status/1476191283748167687?s=20
Innerspeaker:
[In reply to Callum MC | COO @ Plethori]
Thats really awesome
Callum MC | COO @ Plethori:
Simply retweet to enter the draw. Entries close at midnight tonight.
Innerspeaker:
[In reply to Callum MC | COO @ Plethori]
Wow massive giveaway, wouldn’t want to miss this!
Callum MC | COO @ Plethori:
Up to $5k to be won
Innerspeaker:
Thanks, seems like you guys have all the bases covered, still unsure how this is still sitting at $2m mcap
Innerspeaker:
Do you have a current roadmap? Please link it here if you do and summarize in short what is expected to be released/worked on in the very near future
Callum MC | COO @ Plethori:
Sure one second
Callum MC | COO @ Plethori:
So far we are on track with our current roadmap. CEX listing applications are underway — expect some news on this very early 2022
Callum MC | COO @ Plethori:
We haven’t included the Bridge development or Launch or migration to AVAX on this roadmap. Does need updating 😏
Callum MC | COO @ Plethori:
ETFX V1 is on course for launch before the end of Q1, pending successful license applications. If there is any delay with the Licenses then we have plans to release a purely gamified version of the platform until licenses are received. We have no doubt about receiving licenses, however the process can sometimes take up to 3 months.
Callum MC | COO @ Plethori:
In which case we will launch the gamified platform and allow uses to create their own ETFs, competing against one another for notoriety whilst receiving NFT rewards. Realistically though we expect to be fully licensed by the end of Q1
Innerspeaker:
Awesome, seems like it will be a busy Q1 for Plethori
Innerspeaker:
Thanks for sharing all this with us today @CallumMC is there anything else you would like to share or say to our community? We can open the chat after that for the community questions
Callum MC | COO @ Plethori:
Happy New Year to everyone. If you haven’t already, feel free to come and join our community — t.me/plethori
You can also subscribe to our mailing list via the website to receive the latest news on the development of our Platform.
Really looking forward to what’s in store for our protocol in 2022, already being hailed as the year of the Crypto-ETF 💪
Callum MC | COO @ Plethori:
Let’s open up the chat
Innerspeaker:
Chat will be unmuted in a minute, please prepare your questions. 5 questions will be picked and answered by @CallumMC, they will get $150 each.
Community questions:
WALIK:
I think 2021 is a year of NFT which is really popular and booming, so what are your development regarding NFT product? will you have one later in the future?
Callum MC | COO @ Plethori:
[In reply to WALIK]
Great question and one I didn’t go into too much detail on in this AMA.
Plethori’s NFT range is made up of very professional and artistic Chimeras. Chimeras are fictional composites of a number of different animals, as our ETFs are a combination of different coins/tokens.
We are currently speaking with a selection of artists who are competing to become our leading artist. These NFTs will be true works of art, we are staying true to form, and will not be going down the “meme NFT” route, as many projects have done.
Each ETF created will have it’s own NFT attached — Public fund ETFs will have their own NFTs which will be put up for auction. Private will be reserved for their own funds creator — i.e. Your ETF will have it’s own NFT. And users will receive additonional assets on their base character as they achieve milestones within the platform. These can be either kept or put up for auction too.
Mộng Diễm Tình Xưa:
Is your project only for English speaking countries or is there a community for other language users?
Callum MC | COO @ Plethori:
[In reply to Mộng Diễm Tình Xưa]
We currently have communities for Spanish, Turkish, Russian, Japanese, Chinese, Arabic and South-east asian speaking countries.
🔥DANNY🔥:
The background and experiences of your team is fabulous but why some of your team is anonymous?
Callum MC | COO @ Plethori:
[In reply to 🔥DANNY🔥]
The only anonymous member of our team is our current community manager — Captain Link, he is not an executive member of the team and has decided to remain anonymous due to conflicts with his 9–5. The rest of our team are fully doxed. You can meet many of us via our “Meet the Team” video campaign on our Youtube channel https://www.youtube.com/channel/UCFbb81-E8pgr4JxXEBrYgzw
Rishab:
how are the etf’s rebalanced , will there be any leverage options for these etf’s , any educational plans for the community ? What measures have been taken to prevent community missues by ETF creators , like any criterias for creation? How do you stand out from your nearest competition TokenSets @set_protocol
Callum MC | COO @ Plethori:
Yep good question, thanks Inner.
ETFs will be rebalanced automatically on a monthly basis. In line with the original parameters that were set. (e.g. 5 underlying assets at 19% + 5% PLE, the underlying will be bought/sold to rebalance, reflected in the NAV of the ETF).
We are also consistently releasing educational articles to inform our community on both the Crypto markets and how ETFs work. Security-wise, measures will be established to limit the availability of underlying assets that can be included. I.e. Projects will have to meet certain criteria in order to become available for inclusion. This will be more inclusive than exclusive, but will protect users from including scam projects in their ETFs.
Cash Invest Biz:
IF THE BEAR MARKET COMES will your token PROBABLY DUMP? Do you have any plan to prepared for this bear market? How will you handle the panic sell ?
Callum MC | COO @ Plethori:
[In reply to Cash Invest Biz]
Good question and one many people are pondering.
We have plans to make available a range of inverse ETFs. Although slightly riskier than standard ETFs, they will enable people to take advantage of bear cycles. The inverse ETFs will not include a percentage of our PLE token.
Callum MC | COO @ Plethori:
Thanks for the questions guys and following along. Again, Happy New Year to everyone. Hope to see you over in our community where our friendly admins will be more than happy to answer any further questions.
Get ready for 2022 — the year of the Crypto-ETF 🚀🎉🚀
Innerspeaker:
Thank you for your time @CallumMC it was a pleasure hosting this AMA. I’m personally very excited for what’s to come for Plethori. Happy New year to you and your team and wish you a lot of success in 2022! ETFs on chain will be big.
Callum MC:
[In reply to Innerspeaker | Owner of CryptoMoonShots]
Thanks Inner 🙏
Plethori important links:
Website — https://plethori.com/
Coingecko — https://www.coingecko.com/en/coins/plethori
Medium — https://medium.com/plethori
Telegram — https://t.me/Plethori
