Within this blog, we delve into a comprehensive overview of the latest enhancements to our tokenomics framework.
Stacking Data
Across the past 6-months, stacked PLU figures have grown at a consistent rate. In July alone, 192k PLU was stacked bringing the cumulative stacked PLU figures to a record high.
Over 80% of PLU in circulation (3.2m out of 4.1m) is now stacked by customers, and yet <5% of customers have unlocked a Reward Level. This trend highlights the impact a small number of customers can have on the un-stacked token supply. Plutus is now introducing several improvements outlined below that will help engage the remaining 95% of customers to stack their earned PLU to unlock more benefits.
Difficulty Adjustment Update
Although the data suggests that the Difficulty Adjustment has had a positive impact on Reward Level upgrades, it has also shown to be discouraging for some user segments who have been accumulating their earned PLU.
Upon review, Plutus will be indefinitely pausing the Difficulty Adjustment after the upcoming Q4 adjustment. Guided by feedback from our community, this approach not only safeguards the interests of those who earn and stack PLU, but also supports a healthy ecosystem.
It ensures the Reward Levels are attainable and removes uncertainty to create a more stable and predictable rewards system. Since our whitepaper in 2015 and the token release in 2016, the team has consistently strived to incorporate user feedback whenever it proves appropriate and valuable.
Three New Reward Levels
As of August 7th, 2023, we unveiled three new Reward Levels: Researcher, Explorer, and Adventurer. These tiers feature reduced PLU requirements, aiding users in the initial phases of their rewards journey.
This strategic move holds significant advantages for the 95% of users who are yet to unlock a Reward Level. Now, these customers are incentivised to accumulate earned PLU, a significant improvement to the tokenomics.
For more details read the full blog here >
New PLU Utility
Plutus will be continually adding utility to PLU, including the ability to redeem PLU for perks, metal cards, merchandise, and more. Further details will be unveiled over the coming months.
Enhanced App Experience
Plutus has seen a surge in user engagement for rewards. Our user base has increased by 255% in the last 12 months, and Plutus holds the highest active user rates (~50%) on Solaris Bank’s records for 2023. This momentum is set to improve further with upcoming features.
By year-end, customers can expect a comprehensive app akin to banking services (removing current pain points), along with our U.S. expansion in 2024 enabling Plutus to scale up rapidly.
Live Roadmap: https://app.loopedin.io/plutus#/roadmap
