QuiverX has formed a strategic partnership with Plethori.
Plethori is ushering in a new chapter in decentralized finance. In fact, it is cryptocurrency’s first investment platform that combines ETF creation and trading. Using blockchain technology, Plethori is built on both Polkadot and Optimism, promising fully decentralized cross-chain investment.
ETFs (exchange traded funds) are investment funds that hold several assets, from traditional investments to commodities or even fiat currency. Since access to the ETF market is extremely competitive, it is also challenging to break into, especially for smaller-scale investment firms.
Enter Plethori, and its potential to completely overhaul the ETF market by pushing forward a decentralized, easily accessible investment network.
Partners in innovation
With the exciting partnership now official, QuiverX is planning on working to create ETFs of the most popular projects within its ecosystem. Beginning with one and soonafter expanding, each project will be voted on by the QuiverX community.
The concept as a whole caters to the demands of the DeFi collective in general. As a decentralized peer-to-peer trading platform, users will be able to stake their own
collaterals to create custom ETFs for others to buy and sell. Since the ETFs are created within the community, users can be rewarded in the form of fees and NFTs (non fungible tokens.)
Plethori also brings to the QuiverX culture a host of several other exciting features, most strikingly, the gamification of the entire economy via NFTs. Breaking down how this works, as users create an ETF, they are offered a standard ERC-721 NFT. In turn, this brings in even more profits as the ETF itself gains value.
QuiverX is also excited about offering its community more of the features that make Plethori stand out from the competition. For example, Plethori’s technology is cross-chain compatible, an increasingly sought-after feature. Plethori runs on both the Optimism (Ethereum’s Layer-2 solution) and Polkadot blockchain, allowing users unlimited access to both. In turn, this boosts their ability to create and trade ETFs.
Unlocking the future of trading
Plethori offers much more than blockchain ETF trading. Some of its core attributes that stand out to the team at QuiverX include:
- PLE Token: PLE will use decreasing economics rather than inflation. (There will only be a total of 100 million tokens minted.)
- Fiat Gateway: Users can convert profits to their local currency through dedicated fiat gateways, promising high liquidity.
- Optimism: For lightning-fast speed, Plethori uses Optimism’s second layer solution to take the load off the mainnet. Optimism also offers attractively low transaction fees.
- Gamification: As mentioned above, ERC-721 integration will reward users in the form of NFTs. Fund managers are also rewarded as they “level-up” the ranks.
The QuiverX/Plethori partnership will unlock an array of complementary features for both ecosystems. The focus will be on contribution to decentralized finance, expanding access to EFT trading, and narrowing the gap between cryptocurrency and traditional trading.
QuiverX looks forward to announcing the launch of Plethori’s features on its platform in the near future.