- Cardano recently launched the Plutus V3 engine to enhance smart contract capabilities.
- The price of ADA has increased since the launch of the new engine.
- The PLX presale has raised over $8 million and is coming to a close.
Cardano, a leader in the Proof-of-Stake blockchain industry, has unveiled its highly anticipated Plutus V3 engine. This new technology aims to revolutionize smart contract functionality and drive developer innovation.
At the same time, Pullix, a new DeFi protocol, is preparing to list its PLX token on two exchanges after the successful end of its presale, which raised $8,242,734.
Cardano’s Plutus V3 Engine
The Plutus V3 engine was introduced by Cardano to improve performance and functionality of their Proof-of-Stake network. This engine enhances smart contract capabilities and is expected to attract developers looking for advanced blockchain solutions.
👀 Introducing PlutusV3 – a new ledger language now available for testing on #SanchoNet.
With improved adoption and governance support, #PlutusV3 offers more possibilities for builders 🔓
🧵1/6 pic.twitter.com/F8dFV4c2lD— Input Output (@InputOutputHK) February 27, 2024
The newly launched Plutus V3 engine offers enhanced cryptographic abilities and Ethereum sidechain bridging and porting capabilities. It also introduces a new method, called Sum of Products (SOPs), to optimize script size and speed up smart contracts on the Cardano blockchain.
Cardano founder Charles Hoskinson expressed his optimism about the potential impact of Plutus V3 on the network, highlighting its role in promoting interoperability and increasing adoption, governance, and scalability.
Cardano Price Reaction (ADA)
The launch of Plutus V3 not only sparked excitement among developers, but also led to a 24% increase in the price of ADA, Cardano’s native cryptocurrency. Currently trading at $0.623 with a 4.88% rise in the past 24 hours, ADA has been boosted by the positive sentiments around the upcoming Bitcoin ETF and the Plutus V3 upgrade.
Pullix: Innovative ‘Trade-to-Earn’ Platform
While Cardano continues to push the boundaries of blockchain technology, Pullix emerges as a new DeFi protocol with a unique proposition – “Trade-to-Earn.”
At the core of Pullix’s ecosystem is its native token, $PLX, which empowers community members to earn a portion of the daily revenues generated by the exchange.
In addition to traditional trading features, Pullix rewards traders with $PLX tokens, a percentage of which is used to buy and burn tokens from the open market, reducing the token supply and increasing demand. This mechanism incentivizes users to hold onto $PLX by offering passive income, trading discounts, and other exclusive rewards.
Pullix stands out by not requiring KYC (Know Your Customer) for its traders, providing a seamless experience for deposits, withdrawals, and trading. The team has also prioritized security by passing a successful security audit from Interfi Network and locking the liquidity pool for 24 months after launch to reduce the risk of rug-pulling.
PLX Token Presale
The PLX token is currently in its presale phase, offering early investors the opportunity to purchase the token at a discounted price. The last stage, “Bonus Round,” has a token price of $0.14 and has already raised an impressive $8,242,734 with 86.6% of tokens sold.
Once the presale ends, PLX will be listed on decentralized exchange Uniswap, followed by a listing on centralized exchange BitMart on March 7, 2024. Pullix’s decision to list on both types of exchanges demonstrates their commitment to providing diverse trading options for their community.
Visit the official Pullix website to purchase PLX tokens and participate in the presale.
Pullix Token Burning and Revenue Allocation
Pullix plans to buy and burn PLX tokens to reduce the circulating supply and increase their value. This buy-back strategy involves allocating a certain percentage of revenue, ranging from 10% to 30% depending on the type of revenue, to buy back and burn tokens.
PLX token holders will also be able to stake their tokens in the upcoming PLX market-making liquidity pool to earn passive income, with interest rates ranging from 8% to 18% per annum based on withdrawal frequency and lock-up period.
Conclusion
Cardano’s Plutus V3 and Pullix’s innovative “Trade-to-Earn” platform and PLX token offer a range of investment opportunities for crypto investors. However, due to the volatility of the market, investors should exercise caution when making investments.
