Pullix (PLX) is one of the latest trading exchanges which has been dominating the charts as it combines the best elements of CEXs and DEXs, essentially merging both worlds into a unified platform.
Holders of the native crypto, PLX have also been utilizing its high APYs on offer, and have begun staking a large amount of the cryptocurrency to get access to the trading platform’s revenue share model. Today, we will jump deeper into the project and its performance to see just how it works and why this is happening, and why it’s considered one of the best cryptos to buy.
Pullix (PLX) and Its Unique Hybrid Ecosystem
Pullix introduces a groundbreaking innovative platform with its hybrid approach, as it also introduces Trade-to-Earn mechanics. It also aims to solve the liquidity issues in DeFi and remove any barriers of entry. Moreover, members can trade multiple different types of assets, including perpetual futures, CFDs and OTC derivatives. In addition, there is a vault for the secure storage of cryptocurrencies, a lending protocol for getting passive income, and a DeFi and NFT Launchpad for exciting investment opportunities.
Moreover, there are zero commissions and the platform applies tight spreads which are transparent and visible on the platform. Users can also store their own private keys and have custody over their own assets, and there is even VaultX, a decentralized multi chain yield optimizer that lets users earn compound interest on crypto holdings.
Why Holders Are Locking Huge Amounts of PLX for High APY
The platform has partnered with institutional liquidity providers and allows the community to stake their tokens in order to get passive income. In fact, the main use-case for the PLX token is in the revenue sharing mechanism. Pullix is the first exchange that enables holders to profit from the daily revenue of the exchange and earn a fixed passive income, through providing liquidity to the automated market makers.
This is a game-changer in the industry as it lets people earn rewards, while guaranteeing fixed income. This also leads to the creation of liquidity pools for other cryptocurrencies without any technical expertise. As a result, PLX is seen as one of the best cryptos to buy.
On March 27, 2024, the team announced on X (Twitter) that PLX holders can begin actively earning these rewards. All they need to do is visit the staking portion of the website, and will be able to stake 100% of their tokens by clicking on the “Stake” button. With the dedicated dApp, anyone can choose from flexible staking periods, earn competitive APY rates, and track the staking rewards and token balances. PLX is now listed on BitMart, XT.com, Uniswap, CoinMarketCap, CoinGecko and has recently listed on MEXC.
Moving Forward With Pullix and Its Offering
It’s clear that staking plays a crucial role in the Pullix ecosystem, as it incentivizes token holders to lock up PLX. By doing so, it results in the reduction of the circulating supply and promotes long-term stability. Moreover, the PLX crypto has seen a major increase in accumulation from traders and investors, and as a result, analysts are now projecting a 100x price increase by the end of Q4, 2024, positioning it as the best crypto to invest in in 2024.