What We Are Working on 1. Multi-Lockdrops 2. PlaaS 3. Plasm DApps reward mechanism 4. Plasm Operator Trading 5. OVM 4. What We Will Do 5. Announcement Contents
What We Are Working on 1. Multi-Lockdrops 2. PlaaS 3. Plasm DApps reward mechanism 4. Plasm Operator Trading 5. OVM 4. What We Will Do 5. Announcement Contents
platform on Substrate. • Plasm Network is compatible with Polkadot. • Aim to be a Parachain. • We have been implementing Plasma, a layer2 scaling solution originally on Ethereum. (and OVM)
believe blockchain will be used in a different way from the way we use it today. The 1st layer will be a trust layer and the 2nd layer will be a transaction layer.”
Relay chain doesn’t support smart contracts by design. • We need Parachain which supports smart contracts well. • Scalability must be one of the most important criteria for devs. Scalable Parachain is needed Source: Polkadot.Network
Plasm Source: Polkadot.Network • Plasm Network can be another “Parathread”. • Blockchains can be connected to Polkadot through Plasm Network. • Plasm Network doesn’t have limited slots. Anyone can connect “blockchains” to Plasm Network if they have PLM.
2000-4000 tps on each Parachain. under the condition of 100 Parachains. • It it awesome!! But, Some use-cases need more scalability to handle transactions. (e.g. IoT, DeFi) Reasons why we need Plasm
PLM is a native token called PLUM • PLM is required for DApps developers to get a DApps slot on the Plasm Network root chain. • The number of DApp slots is unlimited. • If Alice deposits 100 PLM, she can mint Wrapped PLM on her 2nd layer. Alice Bob ᶃDeposit 100 PLM ᶄMint 100 WPLM
Bob ᶃDeposit 100 PLM ᶄMint 100 WPLM • Since there is a Plasma hierarchical architecture, there are constant transactions from child chains to the root chain. For example, 1 transaction per 15 seconds or 1 transaction per 10 minutes. • Each transaction takes a fee like gas. • As the result, it decreases the deposited amount. • When the deposit becomes 0, DApps will be removed. • Devs need PLM to maintain DApps. ᶅDeposit 100 PLM → 99 PLM → 98 PLM
What We Are Working on 1. Multi-Lockdrops 2. PlaaS 3. Plasm DApps reward mechanism 4. Plasm Operator Trading 5. OVM 4. What We Will Do 5. Announcement Contents
looking for around 50 validators to make a stable network. • Currently there are 46 applications. • We will provide you with a right to be the first validator during the PoA term (around 3-4 months) on the main net.
What We Are Working on 1. Multi-Lockdrops 2. PlaaS 3. Plasm DApps reward mechanism 4. Plasm Operator Trading 5. OVM 4. What We Will Do 5. Announcement Contents
invented by Edgeware (Thanks!) • To participate in a ETH Lockdrop, individuals need to lock their ETH for their selected duration. (ex. 3 month, 6 month, 1 year) • After that, the same amount of ETH is returned as well as the native tokens based on the amount you have locked. • You can get tokens because you are paying the opportunity cost.
Plasm 2. Import Plasm and make a scalable your Substrate chain. 1. Build an application or a child chain on the Plasm Network Parachain. Plasm Network Parachain Your Chain (e.g. Polymath)
as a Service • The left figure is the latest general plasma architecture. (by Plasma Group) • Plasma must be composed of Contract, ChildChain, Operator and User. • Much more difficult than implementing traditional dapps. • Plasma specific knowledge is required.
what actually they are doing is paying costs a.k.a gas. Solution Divide block reward into 3 parts. • 50% goes to validator • 40% goes to DApps developer • 10% goes to DApps nominator DApps Reward Mechanism This solution can be a basic income for DApps creator.
buy and sell the right to be a Plasma DApp operator. (The owner of DApp) • A plasma operator gets constant basic income through the Plasm DApps reward mechanism. • If the Plasma application is meaningful for the community, the creator receives higher revenue. As a result, other players may want the right to operate it. • Through this mechanism, we assume that the new off-chain market will be created.
support all layer2 protocols. • Plasm Network will be not only for Plasma but also for other layer2 solutions such as Lightning Network. • We are trying to implement all layer2 solutions on Polkadot. OVM
as well as Lightning Network, the potential will be super big. We assume that Plasm Network is used for use cases that need high throughputs like IoT and DeFi. Working with Grant recipient from
What We Are Working on 1. Multi-Lockdrops 2. PlaaS 3. Plasm DApps reward mechanism 4. Plasm Operator Trading 5. OVM 4. What We Will Do 5. Announcement Contents
and Start Implementing OVM on Plasm Network ʢNovemberʣ PoC-2: Implement Testnet ETH Lockdrop ʢNovemberʣ PoC-3: Launch Plasm Network Testnet V2 Implement Token DesignʢDecemberʣ PoC-4: Plasm Network Main net Lockdrop ʢJanuaryʣ Milestone 1: Plasm Network Main net Launch (Februaryʣ Milestone 2: The second LockdropʢETH&BTC) ʢFebruaryʣ Milestone 3: Plasm Network becomes a Polkadot parachain (Depends on Polkadot) Milestone 4: Distribute the second Lockdrop tokens and Plasm Network becomes NPoS from PoA ʢMarchʣ Milestone 5: The third Lockdrop ʢETH&BTC&EOS&ʢDOT if possibleʣʣʢMarchʣ Milestone 6: Become The Scalable DApps Platform on Polkadot TESTNET MAINNET