How to Dabble in Tezos Defi Using PlentyDefi

Описание: I will show you how to dabble in Tezos blockchain defi using PlentyDefi protocol.

What is Plenty Defi DEx?
Tezsure and Bender Labs merge their protocols with an all-in-one DeFi experience on the Tezos blockchain. Tezsure is the team of engineers behind Plenty and Bender Labs is well-known for building the first bridge from Ethereum to Tezos through Wrap Protocol.

The merger of Wrap Protocol with Plenty’s Automated Market Maker (AMM) with flat curves, bridges, and features of checker are most advanced and complete DeFi protocols on Tezos, bringing unparalleled value to token holders and the Tezos ecosystem! WRAP and PLENTY holders will be able to swap their tokens for PLY. Plenty's flat curve to improve the onboarding of users to ctez. It almost like impermance loss free farms because it hold assets of same value in both pairs.

How to Mint Ctez from TEZ.
Next I will show you how to Mint CTEZ tokens from TEZ (tezo) Tokens in your wallet.
Ctez, is a collateralized tez that is fungible, decentralized, and without opportunity cost from missing out on delegation was achieved with a bit of mathematics. A smart contract holding tez, which lets its owner mint new ctez. The number of tez in the contract must exceed the number of ctez minted times the target peg, times 16/15. I have 106 TEZ tokens. I am going to mint half of my TEZ into CTEZ using the Oven. For that I go to ctez.app/myovens. I click create oven. I pick my first delegate from the list. My intial deposit was oly 5 TEZ tokens. I paid like 0.616 TEZ as storage fee an gas fees were 0.0012 TEZ. After the Oven, go to All Ovens. You will see your Oven address. I have created 4.34 CTEZ tokens. I need to click MINT to claim my newly minted CTEZ tokens. Click on Max.
Now open your Temple wallet. I did not selected CTEZ as default currency so I do not see my newly minted CTEZ tokens. I went under tokens, searched for CTEZ. And selected it. Now I see CTEZ token balance of 4.346596. I end up minting 52 more TEZ tokens into CTEZ tokens that I will be depositing into CTEZ-TEZ liquidity pool later in Plentdefi.com.

Finding Liquidity Pools in PlentDefi.com
Plentdefi.com is a Tezo based Defi Dex. If you want USDC and Tezos tokens, swap your Tezo tokens for CTEZ at 1 to 1. Using the Trade tab. It provides 74% APY. Most safest way is to hold stable coin like USDT.e/ USDC.e at 31% APY, USDtz-USDC.e at 30% APY, DAI.e-USDC.e at 20% APY, kUSD-USDC.e at 22% APY, uUSD-USDC.e at 16% APY. If you want to hold more bitcoin you can by Teso bitcoin tzBTC at 1 to 1 at BTC price and WBTC.e at 17% APY. There is Tezo Ethereum at ETHtz-WETH.e at 29% APY. Always remember when you are swapping bluechips like BTC to tzBTC or WETH to ETHtz, remember there is not much liquidity so you will get large slippage or conversion loss for swapping greater than 0.5 BTC due not having large liquidity pool. I have some Tezo tokens in my wallet I bought at $4. Currently my Tezos token is at $1.40. I want to invest in CTEZ-TEZ at 16% APY. I can swap out using the Trade tab to CTEZ is 1 to 1 from Tezos I own. However, I chose the minting route I showed you earlier to convert TEZ tokens into CTEZ tokens. I did not like the swap conversion ration of 1 TEZ into 0.93 CTEZ. So I chose the MINT process. I got 51.15 CTEZ for 54 TEZ I converted. it is your preference.

Using Plenty bridge, transfer your tokens from Ethereum to Tezos within five minutes.

Providing Liquidity to CTEZ-TEZ Liquidity Pool
Next, I will show you how to provide Liquidity to CTEZ-TEZ Liquidity Pool. Go to Earn and click Farms tab. I am looking for CTEZ-TEZ PNLP dual rewards when baking starts liquidity pool. It is currently paying 16% APY or 15% APR. If you click on little calculator button, it says in ROI is as follows. PLENTY token is $0.03 right now. Click on Plenty LP Stable LP. This will open up Liquidity Pair add page. I picked 21.49 TEZ and 51.15 CTEZ tokens for this liquidity pair addition. It is kind of strange that tokens pairs are not 50-50% is PlentyDefi.

Depositing CTEZ-TEZ LP tokens into the farm
Finally, I will show you how to deposit CTEZ-TEZ LP tokens into the Plenty LP farm. Without depositing LP tokens into the farm, you will not the get the advertised APY. Click on Earn tab on the top. Click Farm. Go to TEZ-CTEZ liquidity pool on the bottom. Click on Stake. Staking window will detect automatically I have 97.15 CTEZ-TEZ PNLP tokens. I click Max. Click confirm Stake. As usual I pay only 0.0038 TEZ in gas fees and 0.06925 TEZ in storage fees. Click confirm.

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Time Stamp:
00:00 Tezos Blockchain DApps on DefiLama
00:21 What is Plety Defi
01:23 Minting CTEZ from TEZ
03:29 Finding Profitable and Stable LP Farms Pools on PlentyDefi to Invest
05:21 Deposting CTEZ-TEZ LP on Plenty Defi
06:25 Risk and Reward on Plenty Defi
Relevant hashtags:
#cryptocurrency #blockchain #crytotrading #Bitcoin #defi #NFT #cryptowallet