Plasma Finance To Disrupt DeFi With PlasmaSwap

The decentralized finance ecosystem is expanding so rapidly that not a day goes by without a new and innovative solution to money markets emerges.

This week it is Plasma Finance, which plans to revolutionize DeFi with its new PlasmaSwap automated market maker and existing PPAY token.

Plasma Finance provides a customizable DeFi dashboard with portfolio management, a DEX and AMM aggregator, cross-chain asset swaps, and even fiat on/off ramps. It uses its European-licensed PlasmaPay network to allow credit card crypto purchases and supports leading DeFi protocols on both Ethereum and Binance Smart Chain.

The latest offering is PlasmaSwap and a new governance token called PPAY.

PlasmaSwap Coming Soon

PlasmaSwap is a DEX that will operate in tandem with the Plasma Finance ecosystem. It will also integrate common legacy risk mitigation tools such as stop losses and limit order functionality.

The AMM operates on its own blockchain, PlasmaDLT, which boasts “near-instant transactions with zero fees.” To achieve this, the network uses the Hyperloop Protocol, a Layer 2 solution that utilizes cross bridging to transfer assets to and from PlasmaDLT.

With Layer 2, transactions are processed off the primary chain and moved back for finalization and security, which yields far higher throughput than Layer 1, which is primarily all on-chain processing.

Hyperloop will allow for swapping within and across Binance Smart Chain, Polkadot, and Cosmos when it is fully launched later this month.

The PPAY utility token, which is already trading on Uniswap, will accompany PlasmaSwap in order to provide liquidity farming incentives, community governance, in-app purchases with PlasmaPay, and Hyperloop bridge fees. It is already listed on Uniswap but will be coming to a number of centralized exchanges, according to the official blog post.

Plasma Finance has already secured a number of partners in the DeFi industry, including AllianceBlock, Bondly, Injective Protocol, NEM, Orion Protocol, and Ren.

PPAY Token Surges to ATH

PPAY Prices have surged almost 30% in the past 24 hours, according to Coingecko. The token is currently trading at $0.32, just off its all-time high of $0.38, which was hit during Monday morning’s Asia trading session on March 1.

Over the past seven days, PPAY has surged a whopping 120%, and since the beginning of this year, it has cranked an epic 1,070% from just $0.024 on January 1st.

The current circulating supply is 130 million out of a total of one billion tokens, and its market capitalization is $42 million. According to Uniswap.info, 24-hour volume is $3.16 million with total liquidity of $702 million.

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