We use cookies to improve your experience. Accept Telegram Learn Latest News BIC NFT Opinion Bitcoin Altcoin Prices Exchanges Press Releases BTC $56903 -1.17% ETH $4583.39 +3.79% BNB $617.69 -1.15% USDT $0.999054 -0.4% SOL $210.56 +0.2% ADA $1.57 -2.07% XRP $0.992827 +0.72% DOT $37.94 +4.36% USDC $0.995795 -0.77% DOGE $0.215459 +0.38% AVAX $121.64 +8.3% SHIB $4.728E-5 +17.55% LUNA $58.27 +12.59% CRO $0.68578 -7.61% WBTC $56943 -1% All currencies Reviews Partnered Planet Finance — Taking DeFi to the Universe By Imogen Searra 30 November 2021, 17:00 GMT+0000 Updated by Imogen Searra 30 November 2021, 10:27 GMT+0000 Share Article Planet Finance is a decentralized finance (DeFi) protocol with an aim that is out of this world. The protocol wants to bring DeFi to one billion users. Sponsored Sponsored Built on the Binance Smart Chain (BSC), Planet Finance offers its users an array of decentralized apps (dApps) also referred to as ‘planets’. Planet Finance in a nutshell DeFi protocol Built on BSC Planets = dApps Planet Finance’s audit with Halborn Four planets in existence: Blue, Red, Uranus, and Green. One planet in development: Pink. Current services offered: yield farming, vaults, liquidity pools, lending/borrowing Future services: NFT marketplace About Planet Finance Planet Finance has four services currently available and more that are in development. Sponsored Sponsored The services, or Planets, include stablecoin aggregation, yield farming, and a lend/borrow protocol. An NFT marketplace will be launching soon. Planet Finance is built on BSC to leverage the low fees and transaction speeds that this chain offers. The protocol has zero team tokens and no VC funding, making it a truly decentralized project built for the DeFi community. $AQUA and $GAMMA Planet Finance has a dual token model. $AQUA is the limited-mint governance token. Planet Finance has recently launched $GAMMA as the protocol’s general utility token. Both AQUA and GAMMA are utility-based cryptocurrencies designed to accrue value and govern the planets. Both AQUA and GAMMA are in limited supply. Having minted the max supply of 100,000 $AQUA Planet Finance has now started burning AQUA daily with protocol fees, notably having burnt over 300 AQUA within the first week. The planets explained The Blue Planet The Blue Planet refers to the stablecoin yield service. Here, users can access “the highest stablecoin yields in all of defi,” according to Planet Finance. Stablecoins available here include BNB, USDT, USDC, DAI, and much more. Stablecoins need to be staked into the vaults to earn yields. There is also a decentralized exchange (DEX) for users to exchange tokens and provide liquidity. Image credit: Planet Finance The Red Planet The Red Planet is where users can access competitive yields on various cryptocurrencies. Here, users have access to vaults with auto-compounding yields. The tokens available here include ETH, CAKE, LINK, and more. The Red Planet also has a DEX swap function, as well as a vault for $AQUA to stake and earn. Image credit: Planet Finance Uranus Uranus is where users can explore the world of altcoins where yields are automatically compounded. Uranus consists of various pools that have been pulled from PancakeSwap. These include DOGE-BNB, ALPACA-BNB, and more. Planet Finance explains that CAKE earned from these pools will be used to purchase $AQUA. Users will then be able to claim this back. The vaults each have a multiplier to increase returns to ensure $AQUA has consistent value passing through it. The Green Planet The Green Planet is a decentralized lending protocol that pays users to lend and borrow. This is powered by $GAMMA – the utility token of the entire protocol. Image credit: Planet Finance The Green Planet launched on November 21, 2021. Within the first 48 hours, the total market size was $307,512,580. $307,512,580 Total Market Size Not bad for just 48 hours after launch. https://t.co/MB1Z7UMiTT pic.twitter.com/b7k2PVpeAY — Planet Finance (@planet_finance) November 23, 2021 Planets under development The Pink Planet will essentially be Planet Finance’s NFT marketplace. It will allow artists to create and sell their own work that users in the ecosystem can purchase. Be on the watch for Pink Planet, as the team has some innovative tokenomic models that they believe will influence the way NFTs are sold in the future. Tokenonmics Only 100,000 AQUA will be minted 500 AQUA was distributed daily for the first 200 days (completed November 18, 2021) AQUA will continue to be bought and burned by the protocol forever, with on-chain verifiable public records. GAMMA will power the ecosystem forever. Planet Finance explained that there are zero team tokens and that all tokens are distributed by vault volume with fair distribution from day 0. “Far too many projects pump and dump on their users to benefit the builders at the expense of both the believers and investors in the platform and DeFi’s reputation as the future of finance,” says Planet Finance. “Our auto-compounding algorithm will constantly group transaction fees and funds to determine the highest possible returns based on the exact second of critical factors like ever-changing gas fees and yields while saving you time and doing zero work. This means your yields will increase even further as the liquidity pools grow over time.” Planet Finance is taking DeFi to the moon With the impressive services currently available, as well as the plans of an NFT marketplace, Planet Finance has gone above and beyond for its community and that of the entire DeFi space. Stay updated with the protocol here: Website | Twitter | Telegram | Discord | Disclaimer All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk. Sponsored RELATED TOPICS Decentralized Finance (DeFi) DeFi Planet Finance Imogen Searra Imogen has two degrees in Corporate and Business Communication and over three years of work experience as a content writer, covering topics from tech to travel and hard news. FOLLOW AUTHOR More Articles RELATED NEWS Reviews Partnered ChangeHero: An Easy-To-Use Exchange For Newbies 7 days ago Reviews Partnered DAO Metaverse Promises to Give You a Head Start in the Metaverse Era 2 weeks ago Reviews Partnered Ethernity CLOUD Releases Round Three Public Token Sale Details 4 weeks ago Reviews Partnered Make the Most of an Investment With Rocket Wallet Signals 4 weeks ago Reviews Partnered DAOventures Implements New Crypto ETF Strategies 1 month ago MOST READ Markets News Report PlanB Admits $98,000 November Bitcoin Price Target ‘First Miss’ 4 days ago Markets Analysis On-Chain Analysis: Long-Term Holders Start Selling – Bitcoin Ready for Surge 3 days ago Markets Technical Analysis Solana (SOL) Reclaims Previous All-Time High Resistance 5 days ago Markets Analysis Bitcoin (BTC) Exchange Address Balances Falls to Three Year Low — BTC On-Chain Analysis 4 days ago Markets Technical Analysis Bitcoin (BTC) Falls Below $56,000 After Failure to Sustain Rebound Rally 4 days ago Markets Roundup BIC’s Video News Show: Elrond (EGLD) 5 days ago WANT TO KNOW MORE? Join our Telegram Group and get trading signals, a free trading course and daily communication with crypto fans! Join Our Telegram Learn more Advertise Disclaimer Terms and Conditions Careers Contact Privacy Policy About The BeInCrypto Team BEINCRYPTO NEWS NOW! Stay tuned with daily newsletters that make reading the news simple and enjoyable Subscribe Follow Us: BEINNEWS ACADEMY LTD © STREET: SUITE 1701 – 02A, 17/F, 625 KING’S ROAD, NORTH POINT. HONG KONG.