PL^Gnet Version 2.0
An update for PL^G token holders on where we’ve been, and where we’re going now.
Three years ago, the PL^G project launched and we held a TGE, which many of you were part of.
We set out with two goals.
First, to build an open source blockchain toolkit (PL^G Toolkit), to help solve many of the usability problems inherent in the early decentralised web.
Second, to launch PL^Gnet, a public network that would allow diverse blockchains to connect together in new ways.
Where We Are Today
Since launch, we’ve done the hard work to build our powerful blockchain toolkit. It includes revolutionary features like our patented Doughnuts Protocol, a cookie for decentralised systems. Our first step is successful.
Now it’s time to take our second big step, PL^Gnet.
We have already launched and tested PL^Gnet beta.
Now it’s time to share more detail about how we achieve our concept of becoming a bridge for digital assets. PL^Gnet has an opportunity to deliver greater value for token holders and create greater impact for the decentralised internet.
All the toolkit work we’ve done, and the beta version of PL^Gnet, will power this new use case.
PL^Gnet v2.0 – Synthetic Assets Network for DeFi
DeFi is exploding. It will be a huge part of value creation for the second leg of the establishment of the decentralised internet.
PL^Gnet’s core feature is enabling it’s users to mint synthetic assets (locking the underlying assets) then use them in DeFi applications.
• Enable CEX’s (and other asset custodians) to mint synthetic assets on behalf of their customers
• Help more users access DeFi safely, by leaving their underlying asset safely locked in the Exchange they know and trust
• Unleash DeFi innovation by giving product creators access to a large aggregated customer base, and consume validated identity attestations about them (including KYC/AML) for rapid onboarding
• Pool liquidity across any asset
Best of all, we’re building an API/SDK for our partners, so asset holders can do this via the existing interface their users know and trust.
This combination of synthetic asset creation and locking, liquidity pooling, and verified identity marketplace is a significant advance in the underlying technology of the DeFi space.
What does this mean for my PL^G tokens?
Your tokens will be used in this new, powerful ecosystem.
Soon, your existing PL^G ERC20 tokens can be used in the upcoming liquidity mining event.
When PL^GNet main goes live, your PL^G ERC20 tokens will be swapped for PL^G native tokens on the mainnet.
The PL^G project is moving from stage one (PL^G Toolkit) into stage two, our next-generation PL^GNet, an advanced multi-chain synthetic asset protocol.
This is a huge expansion of the PL^G vision. And we’re doing it at the start of a very exciting phase of growth for the global DeFi space.
We look forward to activating this new opportunity with the PL^G community, and growing value with and for you