Welcome to the Ottó PLUG → CATA explainer. This article will demonstrate how to participate in the 28-day fair value allocation PLUG:CATA exchange. This guide is broken into 2 Parts.
- Part 1: Committing your PLUG
- Part 2: Exchanging your CATA Vouchers for CATA
To participate, you will need your PLUG Tokens on the Ottó Blockchain. If you have not done this yet, please refer to the full guide here: Ottó Explainer: PLUG Utility, before proceeding with the steps in this guide.
Part 1: Committing your PLUG
Firstly, go to https://onboarding.ottoblockchain.com to log in to your Ottó account. You can also ‘Sign up’ and create an account if you have not registered yet.
Navigating PLUG → CATA Redemption
Once logged in, head to the dashboard and select ‘PLUG Catalyst Redemption’ on the left-hand side. Here you will find a full overview and description, and you can decide how much PLUG you want to commit for burning.
Note: You can participate at any time during the 28 days, and there will be no difference in benefits whether you participate on day 1 or day 28. Your CATAV rewards will be determined proportionally to the ending pool size. CATA will be minted based on the mint table at that time, where every 25 PLUG will have 1 OTTO of purchasing power.
Initiating the burn
Once you have decided how much PLUG you will contribute, Select “Burn Plug” and “Approve Action”. This will prompt a signature from your Ottó wallet that is attached to your account.
After Approving the action the transaction will begin processing, this usually only takes a small moment and will incur a small OTTO gas fee.
PLUG Burned confirmed
Once you receive the burn confirmed notification your transaction has been processed and was successful!
Congrats you have completed the PLUG Burn, once the 28-Day period comes to an end you will be Airdropped CATA Vouchers that can be redeemed for CATA Tokens. This process will be covered in Part 2: Exchanging your CATA Vouchers for CATA.
If you have any questions, please log a support ticket in Ottó Blockchain Discord.
About Ottó Blockchain
Ottó Blockchain is the first KYC-compliant, Curated Smart Finance blockchain. Ottó Blockchain leverages NFT identity attestation, and Multichain functionality, vouching for you to service providers, custodians, and other market participants while allowing users to maintain privacy.