Plena - The first super app use Account Abstraction invested by Consensys

1. What is Plena?

Plena Finance is a crypto super app, use Account Abstraction technology and AI (Artificial Intelligence) to optimize and simplify user experience when accessing the crypto market.

With Plena, users can effortlessly enjoy a user-friendly experience akin to centralized apps while retaining complete control over their assets.

2. Core features of Plena

Plena is a super app that allows users to easily transact and participate in the crypto market in the simplest and most accessible way, solely through the Plena app. Currently, the platforms supports networks include Polygon, Avalanche, Fantom, BNB, and Base. In the simplest terms, Plena functions like a wallet product, where users can buy, sell, trade crypto, stake, and manage portfolios.

2.1. Plena AA

Plena is one of the pioneering apps for applying account extraction technology, enabling users to create accounts using other social platforms such as Facebook, Twitter, and Gmail. In the event of a lost login device, users can log in on another device with those linked accounts. Additionally, users can still log in using a private key and manage their assets. Moreover, with Plena, users can execute and pay for transactions using various types of assets without the need to purchase the native token of that network.

2.2. PlenaGPT

PlenaGPT is an AI model and tool designed by Plena with a range of functions to optimize user investments. Plena's GPT synthesizes market information, price chart history, user investment preferences, and provides investment strategy advice and trend predictions for users to refer to.

2.3. Crypto portfolio

Users can add their favorite tokens to their watchlist for easy tracking directly on the Plena app. Additionally, Plena introduces the "Public Portfolio" feature, provided and managed by experienced traders, where users can refer to and select investments suitable for new users who do not yet have their own investment strategies.

2.4. Automated purchasing

Furthermore, Plena integrates the "auto purchasing" feature, allowing users to delegate an amount of money to Plena's Automated Purchasing contract, and at the predetermined time, Plena will execute the purchase of that asset for the user. Users can use this feature as a periodic DCA method.

2.5. Collateralized portfolios

With this feature, users can collateralize their entire portfolio in case they do not want to sell assets, borrow other assets, and use that liquidity in other DeFi applications. Similar to current lending platforms, the difference is that instead of depending on the volatility of a single token, users can borrow against their entire portfolio.

3. Tokenomics

The native token of the platform is $PLENA, which has not yet been launched.

Tokenomics Design Direction of Plena

Reward Pool: Plena plans to allocate 60% of the total $PLENA reward pool to active platform users. Additionally, the project intends to develop staking functionality, allowing users to stake $PLENA to obtain $vPLENA, representing their decision-making and voting rights in the platform's overall development.
Means of Payment: $PLENA will be used as a means of payment for activities and services on the platform.
Integration with Third-Party Platforms: Users provide liquidity to other DeFi platforms to receive $PLENA rewards.
Ecosystem Benefits: $PLENA may be used to provide access and participation benefits for holders within the platform and Plena's partner programs.
Operational Costs: 25% of platform-generated revenue will be reinvested into the company's development fund, used for operational purposes and developing features and products for the project.
DAO: In the future, Plena will implement a DAO model, allowing token holders to have decision-making and governance rights over the project.

4. Plena's revenue model

Plena's revenue model is designed with the aim of diversifying revenue sources to support the platform's sustainable growth. Plena's revenue comes from the following main sources:

Swap Fees: Plena charges a 0.5% fee on each user swap transaction executed on the platform.
Fundraising Fees: Plena charges a 2% fee based on the total capital raised by projects on the Plena platform.
Advertising Fees: In the future, Plena’s plans are to expand partnerships with other Web3 projects to allow advertising on its platform. It aims for mutually beneficial development relationships, enabling projects to have the opportunity to appear and reach Plena's existing user base. The fee structure for this activity will be determined later.

5. Development team

5.1. Development team

Here is detailed information about the development team behind Plena:

CEO/ Sparsh Jhamb: Sparsh Jhamb is an experienced entrepreneur, architect, and blockchain advisor. Prior to spearheading Plena's development, Sparsh worked on projects such as EasyFi Network and KoinFox.
CTO and Co-founder/ Yajash Jhamb: Yajash Jhamb is a software developer with expertise and has previously interned at companies like Xungry and Web Texo Technologies.
COO/ Tushant Suneja: Passionate about blockchain from an early age, Tushant has previously worked at Newgen Software as a data analyst.

5.2. Advisory board

Furthermore, Plena has garnered support from advisors specializing in product development, strategy, and legal matters, including experienced developers in the field such as Nischal Shetty (Shardeum), Anshul Dhir (Founder of Pivot), Mikkel Morch (Founder of Ark36), and legal advisor Parth Chopra.

6. Investors

In early April, Plena announced a successful fundraising of $5 million with support from renowned crypto funds such as Consensys, Cointelegraph, Galxe, DCI (Dutch Crypto Investors), Big Brain Holdings, GBV, and more.

Additionally, Plena's investor roster includes prominent angel investors, key opinion leaders (KOLs), and notable figures in the crypto market such as Ash Crypto, Ivan on Tech, TraderSZ, Nischal (from Shardeum, WarziX), Anshul Dhir, and others.

7. Ecosystem

Website: https://www.plena.finance/

Twitter: https://twitter.com/PlenaFinance

Discord: https://discord.com/invite/mSdtPkRfdr

8. Conclusion

Here is comprehensive information about Plena, one of the pioneering projects in applying account extraction technology. Recently, Plena has expanded its scope to include AI, enabling users to maximize applications while using the platform.

It is hoped that this article provides users with valuable insights into the project. The content is purely informative, not investment advice. Investors should conduct their own research (DYOR) and make their own assessments before deciding to invest in any project.