Plasma Finance is a DeFi cross-chain aggregator that helps users manage their portfolios with a single interface.
PlasmaPay introduces Plasma Finance as a DeFi dashboard that provides a common platform for all popular DeFi protocols from multiple blockchains. It helps users manage their portfolio using a single interface. The platform aims to democratize the DeFi landscape and work towards reducing complexity so that it can be within reach of all user groups.
The Plasma Finance platform acts as a bridge between the DeFi market and users, while providing them with a facility to use fiat services on the ramp (on-ramp) and off the ramp (off). -ramps) worldwide. Users can deposit, exchange, request payments, deposit and withdraw digital assets using their bank accounts or credit cards.
Protocols supported by Plasma Finance
Plasma Finance currently supports the following protocols:
Features of Plasma Finance
Here are the different features supported by the Plasma Finance platform:
- Swap (Swap)
- Cross-chain swap
- Saving account
- Liquidity pools (Liquidity Pools)
- Market overview
- Governance (Admin)
- Portfolio management
- Onboarding (Introduction)
- Borrow (Borrow)
- Claim PPAY token (receive PPAY)
What is PPAY?
PlasmaPay (PPAY) is the native token of the Plasma Finance ecosystem. PPAY token holders can participate in the governance voting system, stake their tokens and earn rewards, etc.
You can get PPAY tokens from Uniswap or Plasma Finance platform using Swap feature.
Instructions to use Plasma Finance and Saving to receive interest
To use the Plasma Finance dashboard, visit plasma.finance.
The landing page looks like this.
Click “launch app – Launch App” to access the app.
Connect Wallet – Connect Wallet
Plasma Finance allows users to connect to the platform using 4 popular wallets.
Connect to the wallet you want. Here I use MetaMask wallet, so I will confirm on MetaMask to connect, other wallets you do the same.
By default, after connecting the wallet, the user is taken to the “market” page.
The page lists the tokens supported by Plasma Finance that users can buy.
To buy any token, just click on it. The platform offers four methods that you can use to purchase tokens.
- Credit card (Credit card)
- European bank (European Bank)
- Ethereum wallet (Ethereum Wallet)
- Swap (Swap)
Click this option if you want to buy tokens with your credit card.
Enter the amount you want to spend to buy. The app will automatically populate your wallet address. It will also calculate the approximate amount of tokens you will receive depending on the best rate available.
The user is now asked to fill in their details (email, phone number).
Please note that you can also create an Ethereum wallet with a PlasmaPay wallet if you do not have an Ethereum wallet.
Confirm the process by providing your card details. We noticed that the application is taking too long to process the request.
You can share your public address with other users to get any ERC-20 tokens.
Using this feature, you can swap one token for another.
Confirm swap operation. It will trigger a MetaMask transaction and when the transaction is successful you can see the tokens in your wallet.
Users can add liquidity to an existing pool in Plasma Finance.
To add liquidity, you just need to select the token pair. Enter the amount of one token and the app will automatically calculate the amount of the other token.
If you are using the token pair for the first time, you will need to approve it before making it available to the pool.
Click “Supply” and the page will show you the token pool you will get after confirmation.
MetaMask transaction confirmation. You can now view the details of the liquidity pools to which you have added liquidity through the “My Pool” section.
You can clear the liquidity pool and release your tokens whenever you want.
Enter the amount/percentage of the pool you want to delete and the app will show you how many tokens you will get after removing from the pool.
Confirm the MetaMask transaction, the tokens will be returned to your wallet.
The “Saving” feature allows you to deposit multiple currency pairs and earn interest on the deposit.
At the time of writing, the PPAY/USDT liquidity pair is being paid 144%/year by Plasma, which will normally range from 100-200% depending on the total amount of money provided. You just need to provide liquidity on Uniswap, then go to PPAY/USDT to sign.
To deposit, click on the token you want.
Click “Make a Deposit” to deposit.
This is the screen after you have completed the Saving procedure, PPAY interest will be paid every minute, can be withdrawn at any time. I recommend watching when the gas fee is cheap and performing these actions to save too much money.
Plasma Finance is a very innovative and powerful project. The platform is supported by many leading protocols. It offers many attractive features for all user groups, from a simple and easy-to-use control panel for new users to advanced financial tools for complex crypto portfolio control for investors. experienced investors. The PlasmaPay wallet is integrated with various exchanges and external service providers allowing users to buy/sell cryptocurrencies using bank accounts, credit cards, etc.
According to Altcoin Buzz
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