The Future of Pluton

Danial Daychopan
Plutus
6 min readFeb 17, 2020

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Back when Bitcoin flickered around the $400 mark, Plutus appeared as a mere concept; a way for these newly emerging coins to prosper in our outdated legacy infrastructures.

Since then, the crypto sector exploded to a market cap of nearly one trillion dollars, and the market saw the rise of oversaturated promising white-papers and under-delivering projects.

Plutus has proudly surfaced as one of the few companies to achieve above and beyond what was originally promised off an incredibly lean budget, and we can say with certainty that we have never held a stronger position.

The Big Picture

A promising aspect of our offering is the unique prospect of the PLU Rewards Programme.

Currently, the centralised nature of loyalty programmes is skewed in favour of merchants. The consumer receives minimal benefits whilst the retail brands harvest data and profit from returning visitors; all masked behind the marketing of “free” incentives. So how can this be fixed?

The concept of Pluton was a world’s first in the FinTech space, a decentralised loyalty token emitted upon any purchase with the Plutus Card, at any retailer worldwide. Whilst traditional loyalty programmes are fixed to specific stores, Pluton is tied to our Visa debit card accepted at over 400 million merchants (both online and in-store); providing endless opportunities to earn rewards. Each transaction will return up to 3% of the purchase back in PLU.

As Plutus evolves into a fully-fledged consumer finance application with more advanced fiat capabilities, we believe our non-crypto customers will gravitate towards crypto by unintentionally acquiring our blockchain-based token.

There are three key objectives for Pluton:

  1. Dissolving the biased nature of centralised loyalty reward programmes
  2. Growing the crypto ecosystem organically by rewarding everyday people with blockchain-based tokens
  3. Saving our members’ thousands each year by providing multiple reward avenues for online and in-store purchases

Thanks to the support from our generous community, the company was able to crowdfund circa. $1M in crypto through the sale of our native utility token. Unlike many dishevelled projects, we are dedicated to returning value to the community that placed us here today. Without further ado, below is a list of benefits provided to owners of the Pluton token.

Pluton Utility

The Plutus team has been furiously working in the background on creating new use-cases, features, and a long list of online retail partners to provide multiple benefits and perks to Plutus members. From now until the end of March, we will be periodically releasing a list of exciting new features:

Plutus Perks — Stake for Additional Retail Cashback

The Plutus team has established a list of online retail partners that will supply discounts to Plutus members. The discounts, which will come in the form of cashback, are only available to subscribed members who stake the required amount of PLU.

The cashback programme will have several different levels with progressively higher staking requirements, but also, progressively more appealing retailers and deeper discounts. This means our most loyal customers who possess the most Pluton, will unlock the best money-saving offers from our retail partners.

The team has already curated a growing list of strong partners in various retail categories such as Electronics, Fashion and Tourism. The first of these to be announced are some of the largest travel and accommodation giants in the world, Airbnb and Skyscanner.

Up until now, our members were in line to start earning up to 3% in PLU on any online or in-store purchases made using their Plutus Card. However, after the upcoming feature releases, our members will receive a cashback in their local currency loaded onto their Plutus Card on top of the Pluton loyalty rewards.

As a result, our users will earn double rewards; up to 3% in crypto (PLU) and a % in cashback for shopping at any of our multinational retail partners. We will continue to grow our list of partners so we can offer the most lucrative rewards programme available.

Redeem for Premium Plutus Services

Pluton will also be redeemable for our newly arrived premium services. In the coming weeks, we will be introducing a tiered monthly subscription model.

Starters = £/€ 0.00

Premium = £/€ 4.99

Pro = £/€ 7.99

Whilst the lowest tiered account is free, it is restricted by exchange, spending and account limits. The paid subscriptions will unlock higher limits, zero-fee conversions, and additional perks. Our members will soon be able to redeem their earned PLU to gain access to the following features:

  • Higher Account Limits
  • Higher Spending Limits
  • Higher Exchange Limits
  • Pluton (PLU) Rewards
  • Zero Fees

How will this work?

1 PLU = 1 Month of Premium Subscription

That’s right, a single Pluton will gain you one month’s access to our Premium account, unlocking the above-mentioned features.

Note: In order to increase adoption and use-case for our native token, every Pluton we receive for these services will be stored in a marketing and bug bounty pool to be awarded to members of the community. This offer will last for a limited amount of time.

Convert to Additional Card Balance

As a decentralised token, Pluton carries its own value determined by the external market. This allows earned PLU to be converted (via the PlutusDEX) into additional fiat balance that is spendable anywhere in the world with the Plutus Card (both online and in-store).

Pluton Zero-fee Conversions

We are provisionally removing the 1.3% fees associated with Pluton on both the maker and taker side of our basic account. Any PLU conversions will be free-of-charge as members are encouraged to use our native token above the more traditional cryptocurrencies available on our platform.

The Next Steps

The team is determined to offer something unique to the loyalty market and we cannot wait to deliver on this. So, what can you expect in the coming weeks up until the end of March?

We will be releasing the following features relating to rewards in chronological order:

Premium Account Services

A tiered account plan that gives users the freedom to choose how involved they are with Plutus. Members can enjoy the core Plutus functionalities on our Starter account and upgrade to unlock generous limits, additional perks and rewards, as well as a fee-less experience for a reasonable monthly subscription.

PLU Dashboard (MVP)

This is an additional tab on your account dedicated to all reward-related content for paid subscribers. Here you will find a visual breakdown of how much PLU you have earned each week, its market value, and other related analytics and features.

Pluton (PLU) Rewards

At the same time, we will be activating our PLU Emission System. This means that our paying members will start earning up to 3% of every Plutus Card transaction back in PLU. You can keep track of this by using the above-mentioned dashboard.

Plutus Perks (MVP)

A few weeks later, the perks section on your PLU dashboard will go live and you can begin earning additional fiat cashback at some of your favourite retailers. We will carefully continue to evolve our partners’ list and perks until you have an abundance of online retailers and benefits to choose from.

What else in 2020?

As the year moves forward, we will continue to release some truly great announcements. We have some transformative features scheduled that will significantly elevate our position in the market. This is an incredibly exciting time for Plutus, and we hope you continue to support us in our landmark entry into the FinTech landscape.

Please join our team members on Discord to suggest a feature, or join our amazing community (many of whom have been with us for years and are set to receive a year’s premium account for free) for a chat to stay up to date with the ever-incoming news, we promise you will not be disappointed!

Plutus Team Member,
Danial Daychopan.

Illustration by: Vikki Zhang

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