PLUGnet, a multichain synthetic asset network, has announced a launchnet release for developers and partners looking to build compliant DeFi applications.
The team shared its outlook on this new milestone,
“We’re excited to announce Ottó Blockchain, the next step in building PLUGnet. It will serve as a haven for investors and blockchain developers alike – a place where projects can grow from an idea into something much more substantial. We are thrilled by what we have accomplished so far and eager about all of the possibilities brought forth with our newest technology.”
The release of the Ottó platform is just one step in PLUGnet’s ongoing journey towards mainnet launch and its mission to make DeFi more accessible. The launchnet, created by developers for other developers, has all the security features built into it that will be utilized on a live network, making building and testing applications more accessible than ever before.
The network will work as a growth infrastructure that is purpose-built to launch projects on PLUGnet. It will count on its token and afford development teams token listing, and multichain bridging services. Moreover, their apps will benefit from direct launch approval through the Partner Alliance and the ability to fork projects once they meet critical stability and adoption targets.
Ottó is a platform that will use its token to develop the next generation of blockchain-based technology and create value for PLUG holders with innovative concepts. Ottó members can take advantage of an on-ramp into this new ecosystem by depositing tokens until the remaining period ends, after which they’ll begin earning bonuses from validation or LP rewards. PLUG token holders will be allowed to start mining Ottó tokens which are limited to 10 million in total supply.
PLUGnet is a new protocol that allows asset custodians to use any assets they want. The PL^G token gives holders the ability to vote and connect with partnered exchanges for more options in trading.