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Plenny connects the Bitcoin Lightning Network (LN) with the Ethereum ecosystem. The decentralized application (Dapp) provides connectivity and liquidity and allows Lightning Nodes to expand payment channel capacity through a non-custodial capacity market. The Dapp serves as an additional layer for the LN that enables interoperability through a Decentralized Oracle Network (DON), utilizing Proof-of-Stake (PoS) to reach consensus.

Plenny is a Decentralized Lightning Service Provider (DLSP) and supports Lightning Nodes to provide lightning services via smart contracts. Functionalities include an open-source add-on module and networking with Liquidity Providers (LPs) in decentralized markets designed to bridge use cases across blockchains.

Tokenizing the cost of inbound capacity is a key feature, allowing Lightning Nodes to earn Royalties and Channel Rewards for sharing transaction data via payment communication channels. At its core, the tokenization mechanism of Plenny emulates the value capture mechanism of participating Lightning Nodes within the LN, and leverages the underlying liquidity (i.e. Satoshi, sat).

Economically, Lightning Nodes generate another income stream for operating payment channels from an ERC-20 token (i.e. PL2) in addition to earning sat. To test this effect, an artifact (i.e. Plenny) was developed that applies decentralized use cases and investigates whether Lightning Nodes can operate more viably as a result. Moreover, the pilot analyzes the potential impact of regulatory measures.

Incentives are available for logging channel capacity, licensing channel capacity and oracle validation, oracle election, liquidity staking, replenishment of the treasury (i.e. decentralized cash management), delegation, and governance.

Plenny works permission-less on a Peer-to-Peer (P2P) and Peer-to-Contract (P2C) basis, empowering community governance through a Decentralized Autonomous Organization (DAO).