Buckle up! The bull run is looking to get started. And, many projects are looking to launch their Initial DEX Offerings, or IDO for short.
Today, we’ll be looking at the upcoming Plexus IDO! In this article, you will find out if you should participate!
What is Plexus?
Plexus is the world’s first cross-chain exchange. Operating within the DeFi niche, it’s catering to retail investors like you and me. To elaborate, it enables us to trade and manage our crypto on all chains through Plexus alone. So, how does Plexus’s application make this happen?
First, let’s talk about its technology. It has an innovative User Experience (UX). With its Cross-Chain Routing Protocol (CCRP) technology, swaps can happen in one click. What’s great about CCRP is that it’s also secure. This reduces the likelihood of hacks, which are common within cross-chain projects.
Say hello to PLEXUS! A project overview 💡
🟣 @plexus_fi is a cross-chain liquidity aggregator & middleware infra.
▪️ 5.4M unique web interactions; 1.8M on-chain TxID
▪️ Ranks 13th global DeFi projects on Dappradar
▪️ An exclusive member of Chainlink BUILD program.
— GAMEFI.ORG (@GameFi_Official) October 27, 2023
Next, we dive into Plexus’ fee solution. Its technology allows fees to be paid for all supported blockchains. Hence, you do not need to hold many different tokens from different chains! You can just use Plexus for convenience.
Lastly, Plexus can help you save money too. It does so by providing you with the best route swap. To do this, it uses the Theta algorithm to find the optimal swap route. In turn, you can save money on swap fees.
As of now, Plexus has a working product. In fact, it’s gathering a ton of adoption. Just check out the amount of users it has below, and the trade volumes. Moreover, Plexus supports a huge amount of blockchains and tokens. This will further drive retail adoption.
Key Metrics and Token Generation Event (TGE) Details
- IDO Platforms: Spores, GameFi, Seedify
- Launch dates:
- Spores: 16th (VIP round) and 17th Nov 2023 (FCFS round).
- GameFi: 16th Nov 2023 (IDO event date).
- Seedify: 16th and 17th Nov 2023 (IDO event dates).
- Initial Supply: 28,000,000 PLX.
- Total Supply: 500,000,000 PLX.
- Initial Market Cap: $280,000.
- Total Raise: Spores and GameFi will raise $175,000.
- Vesting: 10% at TGE (20% for Spores), 1 month cliff, then 5 months vesting.
- Refund Policies:
- For Spores: Users who don’t claim TGE will auto-receive a refund within 72 hours after listing.
- For GameFi: The refund request time is only valid within 24 hours after the token’s listing or claiming time, whichever is later. Users who request a refund cannot claim any tokens after the refund request has been successfully submitted. Within 72 hours, they can claim a total refund amount.
- For Seedify: You can refund your project allocations in the first 7 days after a launch.
🚀 PLEXUS IDO on Spores! 🚀
Join without KYC or Staking!$PLX | Arbitrum | $0.01 | $75K Raise
16th Nov (VIP) | 17th Nov (Open)
Listing: 20th Nov
PLEXUS Team 🚀 pic.twitter.com/aLrpqrEzEJ
— PLEXUS (@plexus_fi) November 13, 2023
Why We Will Participate in Plexus IDO?
Plexus is very active in the crypto space. It has integrated with over 16 popular blockchains. And, it has joined many events too, such as Chainlink’s BUILD program. Moreover, the project has shown its product’s strength, with its good trade volume and strong user data.
The $PLX token has strong utility too. First, it is used as a reward token for early testers and referrals. Second, it is used to distribute protocol revenue. Stakers of the $PLX token earn 40% of the total protocol revenue.
However, the team is only partially doxxed as shown in the LinkedIn page here. Plexus claims to have 10 team members, but only 3 profiles are shown. The project is also not audited yet. This is a concern, especially for a cross-chain project.
How to Participate in Spores, GameFi and Seedify
1) For Spores
- Explore featured products on Spores Launchpad. Specifically, check out the Plexus IDO link here.
- Complete $SPO staking and KYC.
- Complete the IDO interest form.
- Obtain an email confirmation.
- You can now participate in the Plexus IDO on Spores launchpad.
Note: The sale rounds on 17th Nov do not require $SPO staking!
2) For GameFi
- Follow the GameFi IGO guide here. Try to stake more $GAFI for a higher token sale allocation.
3) For Seedify
- Follow the Seedify IDO guide here. Try to stake more $SFUND for a higher token sale allocation.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Republik. Copyright Altcoin Buzz Pte Ltd.