Plethori is excited to reveal its latest partnership with cross-chain BaaS (Blockchain as a Service) DeFi company, Ferrum. Ferrum’s ecosystem already boasts a robust network of partners, clients and incubated projects across a wide array of sectors within the blockchain industry, ensuring Plethori will be in good company.
Ferrum are the cross-chain pioneers ushering in the era of Interoperability 2.0 by allowing anyone to build and deploy solutions on one network — the Ferrum Network — that instantly enables multi-chain functionality without the burden and technical debt of managing a multi-chain infrastructure.
Ferrum also specializes in adding deflationary token utility and advisory services to break down barriers to mass adoption by building white-label blockchain solutions that empower both startups and established organizations. This enables projects to get their core products to market faster.
CEO Callum Mitchell-Clark commented on the partnership: “Ferrum has defined the DeFi solutions space since its inception in 2018, having added significant value with each and every rollout. Their ever-expanding catalog of multi-chain products illustrates well the innovation required for success in this fast-moving industry. We’re looking forward to collaborating with their team and exploring potential synergies as Plethori’s ecosystem continues to grow. First and foremost, this will begin with the inclusion of Ferrum’s native token — FRM — as an underlying asset in our DeFi Solutions ETF.”
Nick Odio, EVP Partnerships and Growth at Ferrum commented: “Ferrum has been looking at ways to gain exposure to TradFi markets. With ETFs being a cornerstone of TradFi and Plethori being a first mover in bridging DeFi with ETFs, this partnership was a no brainer! We’re looking forward to being a part of their growth and welcome Plethori to the Iron Alliance.”
Plethori’s DeFi Solutions ETF ($DEFI)
Plethori’s DeFi solutions ETF will include projects who have contributed significantly to the rise of valuable infrastructure within the DeFi space, such as lending, staking, farming, exchange, and bridging platforms. Ferrum’s inclusion in the ETF will provide increased trading volumes for FRM, as well as enhanced exposure for the network within both the Crypto and TradFi markets. Available exclusively on Plethori’s ETF Exchange (ETFX), $DEFI offers investors a vehicle to buy into the entire sector with just one transaction.
As with all the megatrend ETFs, Plethori’s native PLE token will constitute 5% of $DEFI. This creates constant deflationary pressure on the token supply, exposing PLE to higher forces of demand as ETFs are purchased on the ETFX. Holders of PLE are also granted privileges, such as access to the ETF creation portal, ETF whitelists, and a 25% discount on fees.
Ferrum Network is a pioneer in ushering in the era of Interoperability 2.0. Powered by the Quantum Portal, Ferrum Network’s mainnet nodes and related infrastructure will bring value, data, and functional interoperability to every chain in the industry. Utilizing the Ferrum Network, anyone can build and deploy solutions on one network and instantly enable multi-chain functionality without the burden or technical debt that comes with managing a multi-chain infrastructure for their dApps, and projects.
Plethori is a Crypto ETF creation and trading protocol that allows users to invest in a wide range of Crypto ETFs comprising assets from sectors driving the crypto space. Plethori’s ETFX provides the framework for users to create and manage customized ETFs, earning a percentage of the transaction fees each time their fund is traded.
Offering the world’s most popular financial product within an innovative and gamified platform, Plethori are focused on facilitating mass adoption and accelerating the decentralization of the global economy.