The crypto tech and operations company Pluto Digital has completely acquired all assets related to the innovative DeFi project, Yield Optimisation Platform (YOP); including the $YOP tokens, IP, brand, and website.
Pluto Digital will be dedicating significant budget and resources to reimagining, redeveloping and relaunching the newly-acquired YOP platform; with priority given to communication and collaboration with the YOP community.
Founded in 2020 by Atif Yaqub, YOP’s vision was to make DeFi available to all; removing the technical barriers preventing engagement with decentralised finance, while making it easier for users to interact with crypto products.
Having achieved its initial goal of introducing an all-in-one mobile app, which facilitates features such as a Farmer’s Market, Wallet, Market Data, Swap DEX and IDO Launchpad Aggregator, the company followed this with the $YOP token; launched with an initial value of $0.05 in January earlier in the year and currently trading at over $0.40.
By staying true to the YOP brand ethos, the new product will provide a solution for yield management and optimisation, via a self-custody Web 3 platform, whilst also offering a DeFi platform that will drive value through the $YOP token.
The new management team is headed up by Pluto CTO John Frizelle with support from COO Dave Burrells and the Pluto software development and yield operations team.
Their objective of supporting the existing protocol, community and $YOP token will ensure a product that appeals to both experienced DeFi users and those with limited knowledge; all of whom will be able to enhance their education through Pluto’s supporting material on the Plutosphere.
YOP Founder Atif Yaqub commented: “As a large well-resourced entity, it made sense for the transfer of YOP to a well-known and responsible party and I will be keenly supporting and continuing to advise as a stakeholder and community member.
“In the coming weeks, the V0 trial app will end. Any assets users have in the V0 mobile app should be backed up with the private key or moved into other wallets where you control the keys as support for the app will end once removed from the AppStore.”
Pluto’s Director Barry Downes added: “We would like to thank Atif for his vision to create the YOP token and protocol and his support of Pluto to acquire YOP. We look forward to allocating significant Pluto resources to reimagine, redevelop and relaunch the YOP platform and continue from day 1 to support the YOP project and its liquidity pools.
“Pluto is committed to delivering on the original vision of the YOP project and the community can look forward to engagement by the Pluto team to relaunch the project as YOP 2.0.”