Pluto Digital PLC takes over the YOP DeFi Project
Plans Huge Relaunch as YOP 2.0
(London, United Kingdom — 30 September 2021): Pluto Digital PLC (Pluto) announces that it has acquired the assets of the innovative DeFi project, Yield Optimisation Platform (YOP). Pluto intends to reimagine, redevelop and relaunch the YOP platform and to support the existing protocol, community and $YOP token.
Pluto Digital was formed in January 2021 and is a crypto tech and operations company that makes Web 3.0 Decentralised Finance (DeFi) more accessible to all. Pluto raised $50 million in Q1 this year and had already invested in YOP through their ventures division. Pluto has not been involved in the project to date, although one of Pluto’s founders and current advisor, Atif Yaqub, founded the project. After the YOP trial App launched earlier this year, Pluto through dialogue with the YOP project and community, saw an opportunity for a redevelopment of the YOP platform, that would better meet the needs of the community and token holders. Pluto’s vision of bringing decentralised technologies to the global economy, wholly encompasses the YOP mission.
Founded in 2020 by Atif Yaqub, YOP’s vision is to make DeFi available to all, removing technical barriers to engage with decentralised finance. YOP was designed to make it easier for all users to interact with the leading crypto products. The $YOP token was launched in January 2021 at $0.05 and now is trading at over $0.25 having traded as high as $4.00 at its peak in February. Since launching its token, YOP has gained a following of over 30,000 across its social media channels. YOP set out a vision to launch an all in one mobile app featuring a Farmer’s Market, Wallet, Market Data, Swap DEX and IDO Launchpad Aggregator.
Pluto wants to deliver YOP’s vision of ‘DeFi For Everyone’ to the fullest extent possible. Pluto will be allocating significant budget and human resources to building a best in class quality DeFi platform, which will drive value through the $YOP token. Pluto has put together an incredible tech team to re-design and redevelop the YOP platform, initially as a Web 3.0 platform, which can deliver significant value to and continue to grow the community of $YOP token holders. This Pluto team is headed up by Pluto CTO John Frizelle with support from COO Dave Burrells and the Pluto software development and yield operations team.
John Frizelle is a distinguished software engineer, technical leader and enterprise architect. His 20 years of expertise lies in the design and development of large scale, highly available, distributed cloud based software platforms. Previously the Chief Architect at the software start-up, FeedHenry, which was sold to Red Hat Inc in 2014. Most recently, he was a Distinguished Engineer at Red Hat, where he led design and development across a range of kubernetes native managed services including mobile, API gateways and enterprise messaging systems. John is an Agile certified Scrum Master and Product Owner and holds a BSc in Applied Computing and a Master’s Degree in Communication Software from Waterford Institute of Technology.
Dave Burrells, dexterous in software development, operations, business management and innovation. Bringing in excess of 20 years proficiency in the finance and technology industries, Dave’s experience spans both established enterprises such as JPMorgan and SaaS start-ups. Commencing his working career in accounting, in 2006 he moved into software development and then subsequently transitioned from software development to project management in 2009 and in 2011 he started working with various Agile methodologies. He has successfully held Product Owner roles in a variety of different industries including commercial banking, commodity trading, telecom and SaaS. Dave has experience in managing the delivery of innovative applications using both the latest and emerging technologies such as natural language processing (NLP) and artificial intelligence (AI). Dave comes to us having served as the Chief Operations Officer of his previous company.
Bringing a wealth of knowledge, passion and experience with them, John is spearheading Pluto’s software tech team, and Dave Pluto’s product management team, which enables Pluto to further develop Pluto own products. Together they will be uniting to take the lead on constructing the new and improved YOP.
Taking on the assets, which include: the $YOP tokens, IP, brand, and website, Pluto will be rebuilding the YOP platform. Communicating and collaborating with YOP’s impressive community will be a key part of the strategy. Staying true to YOP’s brand ethos of DeFi for everyone, the new product will be a one stop solution for Yield management and optimisation via a self-custody Web 3.0 platform. A product for both experienced DeFi users and those with limited knowledge, who will be able to enhance their education through Pluto’s supporting material on the Plutosphere.
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.”
About Pluto Digital
Pluto Digital PLC (Pluto) is a crypto technology and operations company whose goal is to bring Decentralised Finance (DeFi) and Metaverse (blockchain gaming and NFTs) to the global economy. Pluto is making DeFi available to everyone through products and services created by Pluto’s software development Labs division, new yield farming strategies through Pluto’s Yield division and collaborating with emerging DeFi projects and the NFT metaverse through Pluto’s Ventures division.
YOP is a mobile based DeFi platform which focuses on making DeFi accessible to everyone via a series of protocols which provide products via a personalised dashboard. The YOP platform is fuelled by the $YOP token and powered by the Ethereum ecosystems.Users holding YOP tokens in their wallets unlock premium services within the app.