Plutos Network Synthetic Platform V3.0 User Doc - Guidelines & Tutorial

Plutos Network Synthetic System V3.0 User Doc (Ethereum Mainnet)

I. Preface

1.1 Project Name: Plutos Network Synthetic System V3.0 (Ethereum Mainnet)

1.2 Purpose of User Doc

This User Doc is mainly for the introduction of user guidelines and tutorial for Plutos Network Synthetic System V3.0. Target audience: project management crew, platform users.

II. Function Abstract

2.1 Function Structure

Plutos Network Synthetic System V3.0 is composed of several main modules including "Home", "Bridge", "Vault", "Liquidate", "Farm", "Reward", “Trade” and "Connect Wallet" etc, as per the following diagram:

III. Function Descriptions

Step-1: Visit https://app.plutos.network/#/index

Step-2: Connect your wallet when visiting the Dapp page (See "Connect Wallet")

Step-3: After connecting your wallet, you can operate various functions including "Bridge" (See "Bridge"), "Vault" (See "Vault"), "Liquidate" (See "Liquidate"), "Farm" (See "Farm"), "Reward" (See "Reward"), Trade (See "Trade") etc.

3.1 Connect Wallet

3.1.1 Function Description

When using Plutos Network Synthetic System V3.0, you are required to use wallets. Wallets supported by the System include: MetaMask, WalletConnect.

3.1.2 For users who have NOT installed/downloaded wallets

When visiting https://app.plutos.network/#/index, click "Connect Wallet", a pop-up window will display all the supported wallets and you can choose one to connect. If you don't have a wallet, you will need to set up a new one according to the instructions of the specific wallet.

(MetaMask: https://metamask.io/; WalletConnect: can log-in and connect by scanning the QR code of any type of mobile wallet App; )

3.1.3 For users who have installed/downloaded wallets

When visiting https://app.plutos.network/#/index, click "Connect Wallet", a pop-up window will display all the supported wallets and you can choose one to connect.

1) MetaMask browser plug-in wallet. You can type in password, log in and connect. After connecting, you will see the wallet information.

2) WalletConnect

PC browser: you can connect by scanning the QR codes in the interface by using any mobile wallet App that you use. Wallet address and information will be displayed after connecting. (can only be connected via QR code scanning, and can't be connected via its desktop terminal.)

3) Mobile Terminal (Mobile App)

Select "MetaMask"

Open MetaMask App on your mobile devices, log in and connect in the App, wallet address info will be shown after successful connecting. (Reminder: users will be required to switch into the right network on MetaMask App. )

2. Select "WalletConnect"

Users can select one of the supported wallets displayed on WalletConnect and connect the wallet of choice, and wallet address info will be shown after successful connecting.

3.1.4 Wallet Connected

Visit https://app.plutos.network/#/index, click "Connect Wallet" and select one wallet to connect.

Now, "Connect Wallet" will be a combination of connected wallet address and the connected network: Ethereum, Binance Smart Chain. Example:

When you click on the above Button, you will be able to disconnect wallet/change network.

3.2 Home

Home page is for general introduction of the product:

1) Product Introduction

2) Main function introduction, including "Bridge", "Vault", "Farm", "Trade"

3.3 Bridge

1) Considering that Plutos Network has already issued PLUT token in Binance Smart Chain, while the functions such as "Vault", "Liquidate" and "Farm" can only be enabled on Ethereum during this phase, to meet the needs of users to swap tokens between BSC and ETH, the "Bridge" module acts as the Bi-directional token swap bridge. (Use of the bridge will incur some transaction fee. For every swap, a fee of 0.3% will be charged. Details of the swap fee, please refer to "4.others")

Users transfer BEP20 PLUT tokens to Ethereum;
Users transfer Ethereum PLUT tokens back to BSC.

2) For using the "Bridge" module, users can check "Use MetaMask for BSC" for user guidelines to connect the wallet and use BSC.

3) Input amount to swap

Users can input the amount to swap in the amount box. (integral numbers or numbers with 2 decimals)

5) When users use the "Bridge" for the first time, they will need to "Approve" their wallets in "Bridge", "Vault" and "Farm". "Approve" is to enable the smart contract to get access to certain assets in users' wallets. Then, users can proceed and operate further. If user denies "Approve", then she/he can't proceed further.

3.4 Vault

3.4.1 Mint

1) Deposit certain amount of PLUT tokens as collaterals to borrow pUSD (pUSD is the stable-coin of Plutos Network).

2) Deposit & Borrow: users can borrow pUSD while depositing assets. (Users can borrow all pUSD in one transaction when the C-ratio is maintained at 400%. example: when $PLUT price is 1$, when user A deposits 10000PLUT, then A can borrow a total number of 2500 pUSD.)

3) Input box to enter amount

Users can input the amount to deposit in the amount box. (integral numbers or numbers with 2 decimals)

3.4.2 Borrow

1) When users deposit collateral PLUT tokens, the borrowing of pUSD will be automated by the C-ratio of 400%. But, when PLUT token price fluctuates (when PLUT token price rises), users will be able to borrow more pUSD to maintain the C-ratio at 400%.

2) Input box to enter amount

Users can input the amount to borrow in the amount box. (integral numbers or numbers with 6 decimals)

3.4.3 Withdraw

1) When users want to exit the platform and have no further involvement, they can withdraw the PLUT token deposited and staked. (This shall be under the premise that users have repaid all the debts and returned all the pUSD borrowed.)

2) Input box to enter amount

Users can input the amount to withdraw in the amount box. (integral numbers or numbers with 2 decimals)

3.4.4 Repay

When PLUT token price drops, the current amount of collaterals can't support the amount of pUSD borrowed, users will need to repay the debts to maintain the C-ratio. Otherwise, when C-ratio is < 300%, the collateral assets will be liquidated and enter the "Liquidate" list.

The system provides two ways of repaying:

1) Users can continue to deposit more PLUT tokens to balance the collateral and borrowed pUSD;

2) Users can return partial/all borrowed pUSD to balance the collateral and borrowed pUSD;

Input box to enter amount

Users can input the amount to repay in the amount box. (integral numbers or numbers with 2 decimals)

Example:

if PLUT price is $1, when User A deposits 10,000 PLUT tokens, borrows 2,500 pUSD (C-ratio is 400%). When C-ratio is down to 300% (meaning PLUT unit price is down to $0.7 per token), users will be required to repay the debts to a minimum C-ratio of 300%: 1, she/he can deposit extra 625 PLUT tokens; 2, she/he returns 312.5 pUSD borrowed.
For users: if 300%<current C-ratio<400%, there will be system warning, alerting users that her/his assets will be liquidated when C-ratio is below 300% if he/she does not repay.

3.4.5 Vault Details

1) Real-time display of users' assets information, including "Your wallet balance (PLUT)", "Your collateral balance", "Available to withdraw", "Available to borrow", "Your wallet balance (pUSD)", "Liquidation ratio", "Current borrow ratio";

2) In case of no information to be displayed, then it will show 0 PLUT, 0 pUSD, 0.00%

3.5 Liquidate

The ratio of Liquidating is 300%. When users' C-ratio <300% (PLUT price down), users' deposited assets will be liquidated by force in order to repay the debts produced when borrowing pUSD.

Individual user's liquidating: the user's "to be liquidated" asset information will be displayed, click "Liquidate" in the pop-up window which will display the amount of assets to be liquidated.

List of all liquidations: all "to be liquidated" asset information will be displayed in a list (including account address, asset amount following default sorting by size) as well as C-ratio. Commission fee will be incurred during liquidating.

Single liquidation item in the user liquidating list will incur a transaction fee of 8% for each transaction. For details, please refer to "4. others"

1) Users can choose all or partial of the assets and liquidate. Click the "Liquidate" pop-up window to display the amount needed to liquidate all or partial of the assets.

2) Input box to enter amount

Users can input the amount to liquidate in the amount box. (integral numbers or numbers with 2 decimals)

3.6 Farm

There is a PLUT POOL. In this module, when users stake PLUT tokens into the Pool, they will be rewarded with Staking yields. Rewards will be distributed to users based on the average staking amount on a weekly basis.

1) Sources of the rewards include the following:

① 0.3% transaction fee incurred in "Bridge"

② 8% from "Liquidation"

③ 0.5% of trading fee incurred in NovelSwap (Next-gen DEX developed by Plutos Network)

④ 2% in "Get CHIP-withdraw"

50% of the funds collected from the 4 above sources will be put into FARM reward pool while the other 50% will be reserved for project operation purposes.

2) Stake

Users stake their PLUT tokens into the Pool (Can input or choose the amount to stake)

3) Unstake & Claim rewards

① When users stake, they can claim back all the staked as well as the rewards. (can input or choose the amount to unstake and claim)

② Operation is invalid when users don't stake.

4) Detail

Real-time display of PLUT balance, claimable PLUT amount.

5) Input box to enter amount

Users can input the amount to farm in the amount box. (integral numbers or numbers with 2 decimals)

3.7 Reward

Real-time display of claimed rewards (including account address, amount of PLUT rewards - default sequence by size), types of rewards (including: liquidate, reward, trading.)

Information including reward claiming list (account addresses, reward PLUT amounts; default sequence is to list according to the amount sizes), reward categories (including: Mint rewards, rewards from liquidate list, Farm and Staking Rewards. ) etc.

3.8 Trade

3.8.1 Trade

This particular component is to display the assets supported for trading within the Plutos Network Synthetic Platform, including names of the assets, prices, price changes (24-hour basis), balances held by users as well as profits and losses.

The platform uses “CHIP” as the voucher of assets traded in the “Trade” module. Users can do both “buy” and “sell” of all the displayed assets; Users are restricted to use “CHIP” as ONLY the voucher when trading the supported assets.

3.8.2 My Assets

Asset Info

This displays users’ real-time information of their assets in the “Trade” module, including Current Balance (current balance of CHIP), Available Assets (Amounts of CHIP tokens that are available to use), Available to Withdraw (pUSD that can be traded; * this value is only the estimated value when users sell all his/her positions) as well as value changes of users’ accounts in 24 hours. In the absence of pertaining data or info, then the system shows 0 CHIP, 0 pUSD, 0%.

Asset List

This displays users’ detailed information of their assets, including the names of tokens, the amounts of balances, values, cost prices when buying, profits and losses.

Trade List

This displays users’ detailed information of every trading that he/she makes, including the name of the asset, time of trading, category of trading, amounts, prices (in CHIP) and transaction hash.

3.8.3 Ranking

This displays the rankings of all tradings in the “Trade” module, including rankings, account addresses, trading volumes and sum amounts of profits/losses.

This component displays the ending time of rankings, which is in UTC time. (For example: 2022-03-04 2PM UTC)
Users' personal rankings will be specially displayed including rankings, wallet addresses, trading volumes and sum amounts of profits/losses.
Display all rankings in "Trade" module including rankings, wallet addresses, trading volumes and sum amounts of profits/losses.

3.8.4 Get CHIP

Use pUSD borrowed to convert into CHIPs used for synthetic asset trading. (Note: There will be price fluctuations exchanging pUSD and CHIP)

Important Notice: after completing trading, users can add CHIP token in their wallets and can check the current balance of CHIP tokens in their wallets (CHIP token smart contract address: 0x70fC92a95cCC772769cBf3650bEA031B00E8BF10)

The voucher CHIP tokens in users' accounts can also be converted back to pUSD (2% commission fee will be charged in "Withdraw")
"get pUSD". (Use "Vault" - "Mint", deposit PLUT tokens to get pUSD. For details please refer to 3.4.1 Mint)
Ethereum Mainnet pUSD smart contract: 0x3dfe621515206b583D5985Bb6F891E5F43868e73
Ethereum Mainnet PLUT smart contract: 0xe7e4A857Ff7F1360C654147d29C38719bcA91A87

3.8.5 Special Notes

Prices of stocks enabled are NOT real-time prices, but prices of mirrored assets from Uniswap. So there will inevitably some difference and lagging;
Stock prices are not updated in real-time, but when there are transactions happened on-chain.

IV. Description of Abnormal Conditions

4.1 Fees

4.1.1

When users do transactions in "bridge", "liquidate" and "Trade - Get CHIP - Withdraw" modules, the platform will charge a certain amount of transaction fee.
Plutos team will distribute the fees charged into "Farm" staking pools to be distributed as user rewards.

4.1.2

Plutos Network will distribute the afore-mentioned rewards and fees into the pool in "Farm", where users can earn and claim rewards when placing collaterals.