History

Plit is here to make history

Background

PLit protocol started in late 2022, shortly after the FTX collapse. We know that the Centralized Exchanges was not safe but the decentralized Exchanges lack liquidity and have more slippage.

The introduction of concentrated Liquidity AMMs promised to finally disrupt the need for traditional Centralized Exchanges (CEX) but it only uses already existing liquidity.

Project like Arrakis also uses existing liquidity and tries their best to Use the liquidity in an efficient way. But it is also limited by the Liquidity users provide.

In events like a Bear market users are not willing to take the risk to become a Liquidity provider due to the impermanent loss they face. Users are willing to provide Liquidity to stable pairs.

The PLIT team set out to solve this problem by building a protocol that offers yield for stable tokens but converts this liquidity into volatile assets without having Impermanent Loss. LPs can leverage Plit in order to get a High yield for stable tokens and Volatile assets without having an Impermanent loss.

Yes, you heard it right, without having Impermanent loss.

Inspiration

Isaac Newton was inspired to develop his ideas on gravity by taking notice of an apple falling from a tree.

The plit team was inspired to develop the idea of splitting LP by taking notice of cutting apples. just kidding, the team behind the Plit are Lp providers and they need to solve the issue of Impermanent loss.

Defi introduces new projects and tokens on a daily base, but there is no new liquidity for those projects. Instead, the liquidity gets split from other projects making it a week. This is why we introduce plit protocol.