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In a market dominated by uncertainty, plETH offers a beacon of stability and potential reward for Ethereum holders. Holders of plETH can essentially speculate on the future price of Ethereum, and make money when their predicted price becomes a reality.
"Price Locked Ethereum opens the door for fascinating new investment strategies. Without the constraint of expiration dates, Cruise.fi offers ways to play the long game in both the lending, options, and derivatives markets--a healthy counterbalance to the innovation we've seen in short-term, high-leverage derivatives over the last few years,” says Jason Novack, investor and venture partner at Graph Paper Capital.
Essentially, holders of plETH get rewarded for “HODLing ETH.” Similarly, Cruise.fi stablecoin minters can borrow against their ETH without worrying about any fear of liquidation. Recently, fake news about BlackRock’s spot Bitcoin ETF being approved triggered major temporary volatility in crypto markets. Coinglass data showed that over $155 million in crypto positions were liquidated because of the fake news.
In order to better understand how plETH works, let’s review an example. Imagine the strike price of plETH is $2000 for Ethereum. If one plETH costs 0.5 Ethereum, and one is purchased, you now have 1 Ethereum once the strike price hits $2000, essentially doubling your assets.
Recently, Cruise.fi offered a private beta to their early users who were able to purchase plETH with the belief that ETH would reach a strike price of $1600. These “plETH-1600” tokens sold out in just 4 minutes, with no marketing. Cruise.fi’s plETH beta testers made a nice profit of over 200% APY at an annualized rate.
Cruise.fi is about to launch another plETH price experiment to gather more data to determine their future pricing model for plETH. This particular plETH will reward those who believe Ethereum’s price will reach $2000.
Cruise.fi is excited to bring their innovative financial instrument to Ethereum enthusiasts, and ultimately the greater crypto community.
"We believe plETH will resonate with those who have a strong conviction in Ethereum's future. It's not just a token; it's the result of our own personal passion in Ethereum and our passion for making DeFi a more stable world for everyone involved in the space,” said Marcell Ortutay, Founder and CEO of Cruise.fi.
To get early access to plETH, be sure to sign up for the Cruise.fi waitlist before it’s closed at: https://cruise.fi/
About Cruise.fi:
Cruise.fi is pioneering the future of DeFi lending where borrowers need not worry about liquidation and collateral loss. Through the Cruise.fi protocol, lenders receive USDx, a stablecoin backed by the conviction in Ethereum. Lenders also receive a Price Locked Ethereum (plETH) to reward them for backing USDx.
Zooey Cheng
Cruise
[email protected]
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