Auckland, New Zealand, Dec. 09, 2021 (GLOBE NEWSWIRE) --
Multichain synthetic asset network PLUGnet has announced that Otto Blockchain will be holding a 25-week-long pre-mine scheduled to begin on December 27. During this period PLUG token holders can stake their holdings with the ability to withdraw tokens anytime. In all, 250,000,000 PLUG tokens and 10,000,000 Ottó tokens will be available for distribution to stakers at the end of the 25-week pre-mine.
Users who have their PLUG tokens staked at the end of the 25 weeks will be eligible to claim both PLUG and Ottó tokens. Staking rewards will be directly proportional to the percentage of the PLUG token pool the user contributed to and the duration for which tokens were staked. By providing the PL^Gnet community with the opportunity to stake tokens, participate in the pre-mine, and earn airdrop rewards from staking, PL^Gnet will expedite the creation of a network of trusted code validation nodes for decentralised block and transaction processing on the Otto PoS blockchain right out the gate.
“Since the Ottó token is designed to be released slowly in limited quantities as the blockchain grows, rewarding those who bring value to the platform in the form of decentralisation and security via staking makes intuitive sense. This approach will strengthen PL^Gnet’s already strong and supportive community and will help the Ottó Blockchain become the platform of choice for trusted and verified Smart Finance Applications,” said Otto...
