YOP Boards Mothership; Pluto $20m Takeover
We are thrilled to announce that YOP has fully boarded the Pluto rocketship in a $20m takeover deal. Before we go into more details, we would like to thank everyone who has supported YOP from inception to date. An incredible journey from the humble beginnings of working to simplify DeFi for the masses, YOP is now set for lift off in a mega restructure. Funded initially with just over $500,000; YOP stormed to success. Utilising the small raise to launch the project and establish its mission. YOP has demonstrated not only the markets’ appetite for decentralised finance but the opportunity on hand for a world class DeFi App to support industry growth. YOP has raised eyebrows in traditional financial markets and the crypto world alike and with Pluto taking it over, it is now primed for interstellar growth.
This brings us to the latest news and announcement of our takeover. For the complete YOP vision to be fully executed, we realised that we need more capital and larger partners to structure the project for long-term success. To this end YOP’s assets have been wholly acquired by Pluto Digital. This means fresh resources, funding and institutional grade management for a jet fueled, hyper growth future. A win for both parties and the community, which we believe could set a trend for accelerated growth across the crypto industry. Utilising world class software engineering talent, and an experienced team, Pluto is primed to reimagine, redevelop and relaunch YOP into this fascinating emerging market.
Going forward the new Pluto team will be taking over all assets of the YOP project. This means a re-launch of the current application and a refreshed roadmap. The current iOS V0 application will cease in the coming days, so all users should remove assets using their private key from within the application. You can hold YOP assets in ERC20 wallets supporting tokens. With much utility of the YOP token baked into the apps being built, we envision continued fundamental strength for the entire YOP ecosystem. At this point no further action is required from the community. The new team will be bringing fresh news, partnerships and exciting developments to bring value to the community.
Soon the current YOP treasury tokens will be moved into new wallets. During this treasury maintenance, YOP holders are not required to act and can also continue to hodl as normal. All smart contracts and token attributes will remain the same. The project’s assets will be transferred to Pluto’s control including tokens and uniswap liquidity and Pluto will control future operations.
YOP Founder Atif Yaqub commented, “I’m thrilled about the Pluto takeover, as they have the resources and the team to deliver on the project’s bigger vision and take this to a higher level. I look forward to seeing the growth of YOP and all the exciting things in the pipeline from Pluto. As a large well-resourced entity, it made sense for the transfer of YOP to a well-known and responsible party. Being active in the crypto community for many years supporting start-ups, 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. I now know that we can all look forward to exciting times for YOP and the community.”
Pluto Director Barry Downes commented “We would like to thank Atif for his vision to create the YOP token and protocol and also 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. Pluto has immediate plans to release a white paper on the DeFi sector and shortly afterwards a white paper on YOP 2.0, detailing the project and its future roadmap further. We look forward to engaging with the YOP community and keeping everyone up to speed on the redevelopment and relaunch with a series of announcements coming soon.”
During the re-structure period the teams have continued to strategise so no time is wasted in getting YOP 2.0 rolling. From today onwards all social media, news and updates will come from the new Pluto team. Stay tuned, fasten your seat belts and prepare for (re)launch!