Q1 Roadmap & What To Expect in 2021?

Danial Daychopan
Jan 29 · 4 min read

One of our long-term goals has always been to condense complex technologies into a user-friendly application that the masses can adopt. With Plutus, users can hold their crypto in their personal wallets, as intended, and connect this to the world’s first DeFi Card for seamless spending.

Since the concept was first introduced back in 2015, Plutus has led innovation and continued to bridge the gap between DeFi and traditional finance, helping the ecosystem to Bank on Crypto!

Since Plutus 2.0 was released in November 2019, over 25,000 accounts have been opened, and the team has consistently added attractive features and token utility. Whilst January may have appeared a quiet month on the surface, here is what is brewing behind-the-scenes.

Q1 Roadmap

For the last 6-months, we have offered free Plutus Cards and Premium Accounts to thousands of our members. Alternatively, users have been redeeming a single PLU for a Premium Account which comes with 3% Pluton Rewards. One of our key members has earned over 600 PLU for spending ~£35,000 on his business expenses in just a 3-month period. This PLU was later worth over $10,000, proving the value of a Plutus Card. In February, we will be announcing some improvements to our subscription plans.

What will this include?

  • Upgrading to Premium/Pro accounts will only be available via staking.
  • Members will be able to stake just 100 PLU to unlock a Premium Account.
  • Members will be able to stake just 400 PLU to unlock a Pro Account.
  • All account plans will be able to enjoy a bonus when they purchase PLU via the PlutusDEX.
  • The £/€ 9.99 Plutus Card issuance fee on the Starter account will now apply to all account plans.
  • Starter Accounts will enjoy Pluton Rewards (3%) on up to £/€ 250 worth of spending every month.

These updates will greatly reduce the barrier to entry for a large percentage of users. It also creates additional utility for PLU given account upgrades can only occur via staking for the foreseeable future.

The team has developed its own version of MetaMask, a non-custodial wallet you can conveniently download as a browser extension. Staying true to the non-custodial ethos of Plutus, users will be the sole owners of the private keys. The Plutus Wallet, which will be available for both mobile and web browsers, is currently undergoing rigorous quality assurance (QA) to ensure it is both secure and user-friendly.

Users will still have the option of using MetaMask for ERC-20 tokens (including PLU), however, our Plutus equivalent has been custom-built to interact with existing features, and will enable greater functionalities such as the integration of Bitcoin, and other blockchains, into our PlutusDEX. This is scheduled for release in late March / early April.

In conjunction with our very own non-custodial Plutus Wallet release, the team will follow up with Bitcoin integration. A DeFi Card connected to a Bitcoin wallet would be another world’s first, and this is also scheduled for release in late March / early April. As you may know, the Ethereum blockchain is more versatile and therefore easier to incorporate into a DeFi application, however, Bitcoin’s poses more challenges.

We have tackled all the major hurdles and a working prototype has been built. The team is now finessing the designs to iron out any last user experience issues. Upon release, users will be able to connect their personal Bitcoin wallet (without giving up their private keys) to our DeFi Card and seamlessly spend it at over 60+ million Visa enabled merchants. This is not only a major milestone for the community, but the industry as a whole.

This year, for Plutus, is about improving the overall product and token utility so we can easily cross our 150,000 member target and retain them for years to come.

Our upcoming Pool & Earn feature is one which will help accelerate growth and enable our members to earn a % of the transaction by becoming liquidity providers for their favourite assets on the PlutusDEX. This is a relatively complex flow that the team will be aiming to deliver in the first half of 2021 — we will continue to update our progress on this in future blogs.

Note: This additional profitable feature will be locked behind our Premium and Pro account staking requirements. The team has several staking features planned for this quarter and beyond.

Stay Tuned!

I am personally looking forward to the next couple of months as we expect some exciting upgrades and feature releases that will help increase our user base; token utility; and overall liquidity.

The team has plenty of other exciting smaller releases arriving in the coming months that we are yet to share such as promo codes and a referral programme. Follow us across social media to stay in the loop.

Danial Daychopan,
Plutus Team Member

Plutus

Bank on Crypto.