# Plena Finance > Plena Finance is a Singapore-based mobile application founded in 2021, offering management of cryptocurrencies and NFTs while providing users full control of th... - Canonical URL: https://iq.wiki/wiki/plena-finance - Categories: Organizations - Created: 2024-03-24T15:14:20.893Z - Last updated: 2024-03-26T02:35:59.188Z - Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki) --- **Plena Finance** offers a mobile application designed for managing [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) and [NFTs](https://iq.wiki/wiki/non-fungible-token-nft). The app integrates self-custodial wallet security with centralized platform convenience. Users can engage in various crypto activities, including investments, transactions, and asset swaps, all with a single tap.[\[1\]](#cite-id-86a8k406to7)[\[2\]](#cite-id-4lm8p0pf0ed) # Overview Plena Finance, founded in 2021 by [Sparsh Jhamb](https://iq.wiki/wiki/sparsh-jhamb) and Yajash Jhamb and headquartered in Singapore, aims to redefine [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) management by providing users with full custody of their funds while offering a user-friendly experience akin to centralized applications. Leveraging Account Abstraction technology, Plena enables seamless integration with multiple [blockchain](https://iq.wiki/wiki/blockchain) networks, allowing users to manage various [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) conveniently. Additionally, automated investments and crypto portfolios simplify investment strategies, catering to both experienced investors and newcomers. With Plena, users can securely navigate the crypto landscape and achieve their investment goals with ease. Plena Finance currently supports [Polygon](https://iq.wiki/wiki/polygon), [Fantom](https://iq.wiki/wiki/fantom), [BSC](https://iq.wiki/wiki/binance-smart-chain), [Avalanche](https://iq.wiki/wiki/avalanche), and [Base chain](https://iq.wiki/wiki/base), with plans for future integration with more [blockchain](https://iq.wiki/wiki/blockchain) networks.[\[3\]](#cite-id-ape2hkoi98)[\[4\]](#cite-id-myxkpquledr)[\[5\]](#cite-id-yuymk9l1q1) ## Account Abstraction Account Abstraction represents a significant advancement in [blockchain](https://iq.wiki/wiki/blockchain) technology, aiming to unify Contract and Externally Owned Accounts to enhance flexibility and security. Traditional Externally Owned Accounts rely on private keys for control, which can pose security risks and lack programmability, leading to challenges in managing transactions. Through abstracting transaction logic from accounts, Account Abstraction aims to provide enhanced customization and security. Plena Finance adopts this technology with the aim of streamlining [blockchain](https://iq.wiki/wiki/blockchain) interactions for users. [\[3\]](#cite-id-ape2hkoi98)[\[6\]](#cite-id-5u7anjetv7o) ## Smart Portfolios Plena Finance's Crypto Portfolio feature offers users a diverse selection of [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) tailored to their investment objectives. Through Account Abstraction technology, users maintain full control over their funds, ensuring enhanced security. With a user-friendly interface, the platform aims to enable users to invest in their chosen coins seamlessly. For regular investing, Plena aims to provide an Auto Invest feature, allowing users to set up recurring purchases within their portfolio. This feature intends to ensure consistent investments without requiring constant monitoring. Additionally, Plena offers Public Portfolios managed by experienced traders for users seeking guidance. These portfolios offer curated selections of coins, with portfolio managers incentivized through collected fees.[\[3\]](#cite-id-ape2hkoi98)[\[7\]](#cite-id-2p5k61iwxdh) ## Collateralized Portfolios Plena Finance introduces Collateralized Portfolios, aiming to enable users to utilize their entire portfolio as [collateral](https://iq.wiki/wiki/collateral) for borrowing within the app. This approach reduces risks associated with market volatility by maintaining a diversified collateral base. Additionally, it offers flexibility in accessing liquidity without selling existing holdings. With security measures, Plena intends to ensure the safe storage of users' collateral, fostering trust and confidence in the platform.[\[3\]](#cite-id-ape2hkoi98) ## Automated Investments Plena's Automated Investments, referred to as systematic investment plans (SIPs), aim to offer users a convenient way to preset investment parameters and execute transactions accordingly. This feature facilitates scheduled purchases of selected tokens without requiring constant monitoring, fostering disciplined investing and mitigating market volatility risks through dollar-cost averaging. Plena intends to prioritize security and transparency, ensuring authorized transactions within users' portfolios while providing visibility into investment activity.[\[3\]](#cite-id-ape2hkoi98) ## Chat & Pay Plena's Chat & Pay feature integrates communication and financial transactions within the mobile app. Users can chat with friends and community groups while conducting crypto transactions, facilitating knowledge-sharing and camaraderie. The feature allows for seamless crypto payments, simplifying bill splitting and investment transfers. Additionally, users can share trades, promoting collaboration and learning within the community. With dedicated community groups, Plena aims to provide a platform for discussions on market trends and insights, creating an environment for traders to connect and stay informed.[\[3\]](#cite-id-ape2hkoi98)[\[8\]](#cite-id-td82v7vd919) # Products ## PlenaGPT PlenaGPT, developed by Plena Finance, is an AI model designed to simplify [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) investments. By providing personalized advice, suggesting portfolio strategies, and offering trend predictions, PlenaGPT aims to help users navigate the dynamic crypto industry confidently.[\[3\]](#cite-id-ape2hkoi98)[\[9\]](#cite-id-tfvddd204bg)[\[10\]](#cite-id-9iukhz7mhao) ### Use Cases * **Personalized Investment Advice**: PlenaGPT aims to provide customized guidance by analyzing market data, social media sentiment, news, and user behavior to tailor recommendations to individual investment objectives. * **Dynamic Portfolio Management**: PlenaGPT assists users in adjusting portfolios based on market conditions, utilizing insights from historical data, market charts, social media, and news to optimize performance. * **Trend Prediction**: PlenaGPT seeks to predict market trends by analyzing data from various sources, empowering users to anticipate movements and make well-informed decisions. * **Staying Informed**: PlenaGPT aggregates news articles, social media trends, and relevant information to help users stay updated about industry developments, facilitating timely responses to market events. * **Security And Reliability**: PlenaGPT prioritizes platform security and reliability through rigorous testing of its AI model and adherence to industry standards, ensuring the protection of user data and privacy.[\[3\]](#cite-id-ape2hkoi98)[\[10\]](#cite-id-9iukhz7mhao) ![Screenshot 2024-03-24 at 23.50.48.png](https://ipfs.everipedia.org/ipfs/QmSLir36xjtu5fe8gNhRXke2rgFeHfYj2Juve5zav9cfA5) ## Plena Connect Plena Connect serves as an Account Abstraction Software Development Kit (SDK) designed to simplify interactions with smart contracts in [decentralized applications (dApps)](https://iq.wiki/wiki/decentralized-application). It aims to enable programmable accounts and enhance user control without necessitating modifications to existing [smart contracts](https://iq.wiki/wiki/smart-contract). The key focus of Plena Connect lies in providing an easy integration process, minimizing complexities, and reducing the need for code modifications. Additionally, it aims to be cost-effective, provided free of charge, fostering an inclusive ecosystem for developers and [dApps](https://iq.wiki/wiki/decentralized-application). Through the integration of Plena Connect, [dApps](https://iq.wiki/wiki/decentralized-application) aspire to empower users with greater control over their funds, improved security, and enhanced transaction efficiency, thereby facilitating user adoption and engagement.[\[3\]](#cite-id-ape2hkoi98)[\[11\]](#cite-id-ozrozpohyuf) ## NFT Marketplace Plena's [NFT](https://iq.wiki/wiki/non-fungible-token-nft) Marketplace aims to simplify the process of purchasing [NFTs](https://iq.wiki/wiki/non-fungible-token-nft) by enabling users to buy them with their preferred token, covering transaction fees in the same token. Utilizing Account Abstraction technology, Plena seeks to eliminate the need for multiple transactions and associated costs traditionally involved in buying [NFTs](https://iq.wiki/wiki/non-fungible-token-nft). This streamlined approach aims to offer users a seamless and efficient experience, enhancing accessibility to the [NFT](https://iq.wiki/wiki/non-fungible-token-nft) market. Moreover, Plena's [NFT](https://iq.wiki/wiki/non-fungible-token-nft) Marketplace serves as a platform for artists, collectors, and enthusiasts to trade digital creations. Users can explore diverse collections, engage with the [NFT](https://iq.wiki/wiki/non-fungible-token-nft) community, and discover unique pieces aligned with their interests within a secure environment.[\[3\]](#cite-id-ape2hkoi98)[\[12\]](#cite-id-e8ej31t8qha) # Tokenomics ## Plena Finance Token ($PLENA) Plena Finance's token, PLENA, serves as both a [utility](https://iq.wiki/wiki/utility-token) and [governance token](https://iq.wiki/wiki/governance-tokens), facilitating user engagement and enabling participation in platform governance. With a deflationary model that includes mechanisms for [token burns](https://iq.wiki/wiki/token-burn) and buybacks, PLENA holders aim to benefit from a stable asset. The platform allocates a portion of its revenue to token stakers, who also receive PLENA tokens for voting, enabling them to contribute to platform decisions. Additionally, a percentage of revenue is dedicated to token buybacks, aiming to incentivize user activity and foster platform adoption. The remaining revenue supports company operations. Plena aims to gradually transition towards a [decentralized autonomous organization (DAO)](https://iq.wiki/wiki/dao) model, transferring ownership to token holders to collectively govern platform features and policies, enhancing community involvement and decentralization.[\[3\]](#cite-id-ape2hkoi98)[\[13\]](#cite-id-17103rhcc05)[\[14\]](#cite-id-hvrdgpebl1t)[\[15\]](#cite-id-txcoba3f1j) ## Allocation The total token supply for PLENA amounts to 1.5 billion tokens, with 19.0% of this supply, equivalent to 285 million tokens, allocated for sale. * **Seed**: 75,000,000 tokens (5.0% of total supply) * **Private**: 150,000,000 tokens (10.0% of total supply) * **KOL**: 30,000,000 tokens (2.0% of total supply) * **Public**: 30,000,000 tokens (2.0% of total supply) * **Team**: 300,000,000 tokens (20.0% of total supply) * **Advisory**: 75,000,000 tokens (5.0% of total supply) * **Treasury**: 300,000,000 tokens (20.0% of total supply) * **Ecosystem & Marketing**: 352,500,000 tokens (23.5% of total supply) * **Liquidity Provisions**: 37,500,000 tokens (2.5% of total supply) * **Adoption Incentives**: 150,000,000 tokens (10.0% of total supply)[\[14\]](#cite-id-hvrdgpebl1t)[\[15\]](#cite-id-txcoba3f1j)[\[16\]](#cite-id-ri2in4z4fxp) ## Initial DEX Offering Plena Finance conducted multiple Initial DEX Offering's to distribute its tokens. The DAO Maker IDO raised $150,000, with tokens gradually unlocked over four months. A private round on AITech Launchpad successfully raised 100,000 USDT. ChainGPT hosted another IDO with an allocation size of $200,000, distributing tokens with a linear vesting schedule over four months. Additionally, an upcoming IDO is planned on Decubate.[\[3\]](#cite-id-ape2hkoi98)[\[14\]](#cite-id-hvrdgpebl1t)[\[15\]](#cite-id-txcoba3f1j)[\[16\]](#cite-id-ri2in4z4fxp)[\[21\]](#cite-id-i28qy78bjij)[\[22\]](#cite-id-0r3jewyli1gl)[\[23\]](#cite-id-5qezag9ze28)[\[24\]](#cite-id-izt5ocir8n)[\[25\]](#cite-id-xbffbhxbt79) # Partnerships[\[26\]](#cite-id-xhyc14hzhje) ## Plena x Polygon In September 2023, Plena Finance received a grant from the [Polygon](https://iq.wiki/wiki/polygon) team, known for its fast transactions and low fees as a scaling solution atop [Ethereum](https://iq.wiki/wiki/ethereum). This collaboration aims to enhance the Plena Finance Mobile Application with new features and network capabilities provided by [Polygon](https://iq.wiki/wiki/polygon). Additionally, the [Polygon](https://iq.wiki/wiki/polygon) Foundation will support Plena with its network of projects and influencers. The partnership reflects the shared vision of both platforms to facilitate mass adoption of [DeFi](https://iq.wiki/wiki/defi) by providing immediate access to functionality and interactivity through a mobile [DeFi](https://iq.wiki/wiki/defi) ecosystem.[\[17\]](#cite-id-i0vnjtr6bsh)[\[26\]](#cite-id-xhyc14hzhje) ## Plena x PARSIQ Plena Finance has collaborated with [PARSIQ](https://iq.wiki/wiki/parsiq), a leading [blockchain](https://iq.wiki/wiki/blockchain) monitoring and automation platform, to deliver timely notifications regarding [DeFi](https://iq.wiki/wiki/defi) opportunities to users. Leveraging [PARSIQ's](https://iq.wiki/wiki/parsiq) Smart Triggers, Plena endeavors to enhance the user experience by providing real-time alerts on [blockchain](https://iq.wiki/wiki/blockchain) activities. Through this partnership, Plena seeks to improve its data aggregation capabilities, thereby facilitating a more comprehensive and streamlined approach to managing [decentralized finance](https://iq.wiki/wiki/defi).[\[18\]](#cite-id-mcxy73knln)[\[26\]](#cite-id-xhyc14hzhje) ## Plena x Moonpay In October 2023, Plena Finance partnered with MoonPay to simplify [DeFi](https://iq.wiki/wiki/defi) and crypto finance. MoonPay's global reach across 160 countries aligns with Plena's goal of breaking down financial barriers. This integration allows users to buy and sell [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency) within the Plena Crypto Super App, offering various payment options for enhanced flexibility and security. The collaboration emphasizes a shared commitment to mainstream adoption of [DeFi](https://iq.wiki/wiki/defi) and crypto technologies, leveraging MoonPay's user-friendly solutions to accelerate acceptance among mainstream users.[\[19\]](#cite-id-4qvdqng6nn8)[\[26\]](#cite-id-xhyc14hzhje) ## Plena x Banxa In October 2023, Plena Crypto Super App forged a partnership with Banxa, a prominent crypto payments service provider, aiming to streamline digital asset management. This collaboration facilitates fiat-to-crypto conversions, enhances security, offers diverse payment options, ensures compliance, and provides instant support. [\[20\]](#cite-id-hk80vg9q5pb)[\[26\]](#cite-id-xhyc14hzhje) # Team * **[Sparsh Jhamb](https://iq.wiki/wiki/sparsh-jhamb)**: CEO * **Yajash Jhamb**: CTO & Co-Founder * **Tushant Suneja**: COO * **Sayuj Kumar**: Operations Head * **Himanshu Phanda**: Head of Design[\[4\]](#cite-id-myxkpquledr)