In September, we announced the Pluton Liquidity Injection Programme (PLIP); a plan to increase accessibility of Pluton (PLU).
We revealed five exchange partnerships which include listings as well as several micro-sales with the aim of increasing accessibility of PLU.
This blog is dedicated to outlining the upcoming schedule, revealing as many details as we are contractually permitted. Under recommendations by our third-party partners, some of the dates will now reside within November; dates that are shown to be optimal for performance.
PlutusDEX — Oct 7th
- Total: 100,000 PLU
- Activity: Public Sale
We recently closed the first sale round on our own internal platform, the PlutusDEX.
100k PLU was settled at a price of $8 and the team has reconciled and announced the pro-rata distribution via email. The Pluton will be distributed on Dec 14th and individuals will receive a 40% bonus on top of whatever they pledged for (post pro-rata). Full details of the sale can be found here.
Tier 3 — Nov 6th
- Total: 20k PLU
- Activity: Listing
One of our Tier 3 listings will take place on Nov 6th. The initial plan was to run a low 50k cap token sale on this platform, however, a decision was made to distribute these tokens on our own internal sale instead of on our Tier 3 exchange partner. As a result, PLU will now only be listed on our tier 3 partner as of Nov 6th.
Liquidity providers will be in place and have been assigned appropriate amounts of PLU and Fiat to support both sides of conversions. A maximum of 20k PLU has been allocated to our Tier 3 partner in order to accommodate the exchanges average transaction volume.
Tier 3 — October
- Total: 30k PLU
- Activity: Private Sale & Listing
Our second Tier 3 will be hosting a private sale with an adjusted hard cap of 30k PLU this month (originally set at 50k); this figure includes bonus PLU.
The date and a full breakdown of the results will be revealed the day after the sale has concluded. The private sale will have similar rules to the PlutusDEX sale, except with a lower bonus rate of 20% and a longer lock-up period. Any additional details cannot be revealed earlier due to terms and conditions.
Tier 2 — Oct 30th
- Total: 50k PLU
- Activity: Listing
Listing
On Oct 30th, Pluton will be listed on our Tier 2 exchange partner. Rather than a token sale, 50k PLU will be allocated to provide to fulfil orders at a spot rate for the listing.
Third-Party Staking
The listing will come with a staking programme that allows people to hold Pluton on the exchanges third-party wallet for up to 22% in rewards per annum. Staking sufficient PLU on our Tier 2 exchange partner will also unlock our Plutus Perks feature and a free Plutus Pro account.
Additional Details
The collaboration will be announced publicly by the exchange itself on Oct 29th, 24 hours before the listing and staking programme goes live. Due to the nature of the agreement, we cannot reveal the specifics until that point in time.
Tier 1 — Nov 26th
- Total: 100,000 PLU
- Activity: Sale & Listing
Sale & Listing
Our Tier 1 listing will arrive shortly after on Nov 26th — this is a Top 5 exchange in terms of overall volume. Contracts include requirements for participants to join the Plutus platform which will aid user acquisition.
Organic Growth
As always, we do not encourage speculation of our token as its main purpose is to be used in-app for increased benefits and lower fees. We are working closely with our partners to increase organic demand and utility for the token.
Sale Details
100k PLU will be sold via a public sale on the Tier 1 exchange with similar minimum/maximum pledge rules applied to our PlutusDEX event, to ensure fair distribution. If their history is anything to go by, we expect this to be consumed in a matter of minutes/seconds by the public. Further details of the sale can only be revealed closer to the finalised date; announcements will be made on Nov 17th.
Tier 1 — Dec 17th (TBA)
- Total: N/A
- Activity: Listing
To close the year, PLU will be listing on a Tier 1 Asian exchange, a location we plan on expanding our product to in 2021. More details of this will be shared in due course.
Additional Information
Here is a summary of the listings and PLU allocation thus far.
PlutusDEX (Oct 7th)
- Public Sale: 100k PLU + 40k bonus PLU
- Total: 140k PLU
Tier 3 Exchange (Nov 6th)
- Listing: 20k PLU (Liquidity Provider)
Tier 3 Exchange (October)
- Private Sale: 25k PLU + 5k bonus PLU
- Listing: 20k PLU (Liquidity Provider)
- Total: 50k PLU
Tier 2 Exchange (Oct 30th)
- Listing: 50k PLU
Tier 1 Exchange (Nov 26th)
- Public Sale: 100k PLU
- Listing: TBD (Liquidity Provider)
Tier 1 Exchange (Dec 17th TBA)
- Listing: TBD
The total PLU currently allocated for the initial part of PLIP is equal to 360k PLU (slightly higher than our initial plan given the oversubscribed bonuses and other elements). You can view the effects this will have on the life-span of our Pluton Rewards Programme here.
For full transparency, some details may vary as we progress; but we will ensure all readers are appropriately informed and up to date. Make sure you follow our Medium account to remain in-the-know.
Raised Swap Limits
We placed a swap-limit on PLU-Fiat pairs of £/€100 (which have since been raised) to ensure conversions are smoother.
These limitations are something the team is actively working on improving and the primary reason we pursued the PLIP. With the PLIP fully underway and volumes increasing, we have started incrementally raising these swap limits.
- On Oct 12th, we increased the PLU-Fiat swap limit from £/€100 to £/€200.
- On Oct 22nd, we increased the PLU-Fiat swap limits from £/€200 to £/€500
- The next PLU-Fiat swap limit will take place on Nov 4th.
- This will be followed by a further PLU-Fiat swap limit increase on Nov 18th
- Followed by a further PLU-Fiat swap increase on Dec 2nd
We will continue to assess and incrementally raise the limits until it has been completely removed.
Note: These limits only apply to PLU-Fiat pairings and apply regardless of your account type. Limits are higher for ETH pairings and those limits can be affected by account type.
$8 Price-Floor Guarantee
In case missed, the minimum rate of PLU on the PlutusDEX has been locked in at $8 for three months, a feature that will end on Jan 11th 2021.
This means holders can sell PLU back to us at this $8 price, regardless of whether the price of PLU is trading lower on external exchanges. If market forces push the price of PLU higher than $8, then swaps can take place directly between users on our peer-to-peer exchange at this higher rate, but it will never fall lower than $8 during this time period.
Note: The above mentioned PLU-Fiat swap limits still apply.
Next Steps
There is still some exciting news, updates, and details to be revealed including the addition of another blockchain (other than BTC or ERC-20) and co-branded cards; all of which will be revealed in due time when legally permitted. Make sure you follow our Medium or Twitter where we share any announcements first.
To speak directly with other community members with a vested interest in Pluton, join our friendly community channels on Discord or Telegram. Here, you can also speak directly with members of the Plutus team for helpful insight or clarification.
If you are yet to try Plutus for yourself, make sure you get in on the action here and open an account. The process takes two minutes and cards are resuming shipping in two weeks. Stay tuned!
