Planet: A DeFi Protocol Based On The Concept Of Planets

Planet is a DeFi protocol that is based on the concept of planets where each planet has its own application

What is Planet?

Planet is a DeFi protocol which aims to give the ability to users to freely activate and manage their capital. The project offers access to DeFi services by either aggregating the best opportunities or creating them. 

While most of the DeFi projects appear desperate to list any project if they see a money-making opportunity in doing so, Planet believes in a better way forward. It wants to list trusted & proven projects only. Any project or aggregated protocol listed on the platform are all massively audited & trusted. 

Here are the four key features of Planet:

Vaults: One-click deposit & instantly earn yield on your crypto like BTC etc.

Pools: Provide liquidity to earn trade fees and GAMMA

Swap: Instantly swap cryptos using trustless liquidity pools

Lending: The first decentralized money market with discount levels. Lending increases supply balance which can become the collateral using which you can borrow as well be utilized as collateral to borrow crypto assets to use as part of various strategies.

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The Planets

Blue Planet

It is users’ decentralized base, built to serve as an autonomous entry point into the exciting new world of DeFi. Anyone can reclaim their financial independence and break out from the legacy system by staking in vaults, generating interest in liquidity pools, and swapping tokens.

Green Planet

Green Planet is a non-custodial lending protocol for generating interest on deposits and borrowing assets that is based on incentives.

It is the first decentralized lending system that uses the GAMMA utility token to offer discount levels on lending and borrowing.

GAMMA will be delivered to lenders and borrowers every three seconds, allowing anyone to profit from their crypto. The project guarantees that the lender’s funds are always protected by capital in the protocol.

Here are the following use cases for Green Planet: 

Lend your crypto & start earning instantly

Why sell your crypto when you can borrow against it & use it

Create higher yield farming opportunities across the planets

Earn a yield in a bull market, bear market, flat market

Permissionless lending & borrowing

You hold your keys, you remain in control

Diversify your risk

You can lend your crypto instead of holding it and put your crypto to work. Borrowers will pay an interest for the crypto they borrow from you and this interest will go directly to you. It is also important to note here that the interest that you earn is directly deposited to you in real-time and not on a monthly, yearly or quarterly basis. 

Furthermore, as explained earlier, lending your crypto increases your supply balance which in turn can be used as collateral using which you can borrow and pay interest to another lender. When you borrow crypto, the amount you borrowed and need to pay back to free up your collateral, will slowly increase at the current APY you’re paying to borrow the funds.

Pink Planet

Pink Planet is a unique NFT marketplace which is designed with the aim of giving artists the space to create, buy, and sell digital assets. This is currently in the development phase.

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Cross-Chain Lending Market For aUST

Planet has launched a cross-chain lending market for aUST where users can earn up to 40% APY. Billions of dollars (in UST) is held as aUST earning 19.5% APY on the Anchor protocol on the Terra blockchain.

This now enables anyone to earn in a number of ways:

Earn 19.5% APY by holding aUST

Supply & earn more aUST as borrowers pay interest

Earn GAMMA when you supply and/or borrow aUST

Borrow assets against your aUST to earn even more

Use your aUST that was otherwise just sitting in your wallet as collateral to borrow other assets & leverage your position

Using Planet to earn 40%+ APY on stablecoins: A step-by-step guide & case study: HERE 

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Native tokens

Planet has two native utility tokens:

AQUA

The planets are governed by AQUA, which sits at the core of Planet. The protocol captures value through fees charged to use these decentralized “services,” while people swap tokens, earn in vaults, lend, borrow, transform, and buy/sell NFTs. The flow of value recorded by the protocol and powered through AQUA will continue to grow exponentially as these “services” develop.

AQUA is becoming increasingly scarce with each passing second. The Planet Treasury is completely governed by AQUA holders. AQUA holders can actively affect how the treasury allocates resources as the treasury expands over time.

Here are a few utilities of AQUA token:

Create & vote on proposals to shape the future of the Planets

Capture value generated by Planet’s cross-chain expansion

Capture protocol value as a % of fees will buy & burn AQUA

Earn AQUA paid by borrowers of AQUA on Green Planet

Use in Pink Planet for NFTs & Planet Finance NFTs

Earn GAMMA by supplying it to Green Planet

AQUA Tokenomics

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GAMMA

GAMMA is designed to possess Planet for eternity. It is the greatest form of energy in the universe, thus it’s only natural that it can be used in an unlimited number of ways! Here’s a summary of GAMMA’s intended features; this list will increase as Planet develops.

3 Levels — increased yields and reduced fees taken by the protocol when staking GAMMA relative to your collateral

Stake GAMMA to earn more GAMMA (GAMMA Vault)

Provide incentive to vaults and liquidity pools across the Planets

Incentivize liquidity providers in the GAMMA/AQUA Liquidity Pool

Liquidity incentives to suppliers and borrowers on Green Planet

Supply and borrow GAMMA on Green Planet

Buy and sell NFTs with GAMMA on Pink Planet

Incentive for Planet index vaults

Gamification of Planet

Holders of GAMMA can receive income by staking it. Green Planet has three stages, each of which allows you to improve your yield while also lowering your borrowing rate. The “stake ratio” is a proportion of the entire amount of assets you’re delivering as collateral divided by the USD value of your GAMMA.

Level 1 — (1–5%) — 5% discount on lending & borrowing

Level 2 — (5–10%) — 20% discount on lending & borrowing

Level 3 — (>10%) — 50% discount on lending & borrowing

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GAMMA Tokenomics

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Liquidity pools on Planet

Liquidity Pools (LP) are two-token decentralized pools that anyone can use for swapping one token for another. For all trades, Planet charges a 0.25 percent fee. Liquidity providers gain 0.13 percent, while 0.12 percent goes to the protocol to burn AQUA and purchase GAMMA.

Planet LPs: These LPs are part of Planet’s AMM 

Boosted LPs (Combined): The GAMMA earned here is turned into reward tokens and distributed to depositors. Users would also earn trading fees and extra GAMMA, which would be paid to them by the protocol.

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Swapping on Planet

The Planet’s AMM is used to swap BEP20 tokens on the BNB Chain. Users trade against a liquidity pool under Planet’s protocol, which uses an automated market maker (AMM) paradigm. Liquidity may be simply added to these pools by users.

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Conclusion

With the launch of Planet’s cross-chain lending market for aUST where users can earn up to 40% APY, the chances of wider adoption for Planet are quite high. In order to know more, check the links below: 

Through the multitude of decentralized financial services available throughout the Planet ecosystem and ease-of-use features that are otherwise absent in DeFi, the stage is set for Planet’s mass adoption.

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Source : bsc.news