Q: Is Plenny pegged to Bitcoin?
A: No, Plenny is not pegged to the price of bitcoin. Price formation is set on free markets.

Q: Is Plenny supposed to replace Bitcoin?
A: No, Plenny is a supplemental token complementing the Lightning Network and the Bitcoin protocol. There are different kinds of cryptocurrencies used by the Dapp and its decentralized ecosystem: BTC, ETH and XLN, known as Plenny, the token of Plenny.crypto.

Q: What is the ticker symbol of Plenny?
A: The cryptographic token is called Plenny (plennies), a.k.a. “lightning penny,” using the ticker symbol XLN.

Q: What does “Plenny” mean?
A: Plenny is the name of the whale depicted in our logo. This intelligent and cooperative animal feeds on small things from the bottom of the food chain – similar to Plenny and the Lightning Network with their focus on Satoshi, the smallest unit of bitcoin. As the story goes, Plenny™ is a blend of words consisting of “plenty” and “penny” which together form a new word.

Q: How does Plenny make money for lightning nodes?
A: Lightning node operators utilizing the Dapp generate token rewards when locking liquidity in payment channels and stacking token for providing oracle services.

Q: How does Plenny cover its cost?
A:To compensate the Dapp for its value-adding utility, lightning node operators share token rewards with the Dapp. This aspect of the token economy is focused on exchanging value and could be regarded as a built-in feature that charges transaction fees.

Q: How does Plenny distribute revenue and maintains its value?
A: Plenny does not generate profits for others, or invests funds of others, nor does it distribute revenues to third-parties. Instead, simply by holding Plenny, users may benefit from the exchange rate over time. As the growth of the Bitcoin Lightning Network progresses, the value of Plenny is determined by its token economics and the dynamics of cryptocurrency markets.

Q:What is the value of Plenny?
A: Because Plenny is not pegged to an underlying asset like BTC or ETH but linked to providing digital services, its inherent value relates to the capacity of participating nodes and the number of users in the ecosystem. Fundamentally, Plenny leverages liquidity locked up in lightning nodes. Funds are backed through decentralized finance and treasured securely in smart contracts on a non-custodial basis. Not to mention, the value of Plenny derives from the trust users put into the technology of the Dapp which is based on both, the Bitcoin and Ethereum blockchain.

Q: What influences the price of Plenny?
A: Besides network effects and Plenny`s monetary policy having an impact on price, the exchange rate is determined by movements on decentralized markets. This open design approach allows for speculative behaviors to catalyze cost-benefit ratios of disruptive innovation.

Q: What does “CCCP” stand for?
A: CCCP means Cross-chain Collateral Proof. Utilizing the CCCP-concept, lightning node operators record their locked bitcoin to prove their control of collateral across chains and generate rewards until the smart contract expires. Token rewards depend on amount and duration of bitcoin locked up in non-custodial payment channels when providing liquidity to the Lightning Network. Funds bonded by users are at stake and hold in escrow by the Dapp which in turn utilizes dedicated Plenny from the so-called Treasury Hoard for decentralized finance.

Q: Are “CCCPs” like wrapped Bitcoin or “trustless” Ethereum-style Bitcoin?
A: No, however, these concepts are distant relatives coming with a few similarities. Plenny is an ERC20-token based on a sophisticated trust-building mechanism. Generating CCCPs by logging channel capacity on the Dapp is not an allocation of money but a validation of collateral resulting in a reward for sharing payments data across chains. The smart contract is essentially a tokenized software licensing agreement that grants data access and regulates the lifting and compensation of the privacy shield. The lightning node permits the Dapp to access the details of the payment channel, and in exchange receives a licensing fee paid in the form of token reward.

Q: How to find the “Channel Output Index”?
A: There are several ways to find the “Channel Output Index”. In any case, you must first get the transaction ID of the channel opening transaction. A quick and easy way to find the necessary data is to visit a Lightning Network directory or search engine. Search for more details by entering your transaction ID. In case of 1ML.com, check the record of the “Channel Point”. The “Channel Output Index” is the last number after the colon. It is either 0 or 1. See an example here: