Pluton (PLU)

Project: Pluton

Token: PLU

Introduction

Pluton is a DeFi card that lets you earn 3% in crypto on your everyday purchases. It also comes with an accompanying app to manage and convert both crypto and fiat.

The app offers a UK account or European IBAN to manage GBP/EUR. Users can then connect their personal crypto wallet to the account without revealing the private keys and securely interact with both asset types from one place. Similar to mobile banking but with the addition of crypto.

A built-in decentralized exchange (PlutusDEX) allows users to securely convert between both crypto and fiat without ever having to trust a 3rd party.

Upon sign up, users receive a Visa Debit Card that lets them spend both fiat and converted crypto anywhere in the world. Every time a Premium/Pro member spends with their Plutus Card, they earn up to 3% back in crypto (PLU) – a feature known as Pluton Rewards.

Staking PLU on the platform unlocks additional fiat cashback opportunities (over 15%) at selected online affiliate retailers such as Amazon, Sky, AliExpress, Vodafone, and more.

Total Supply: 20,000,000 PLU

Circulating Supply: 1,850,000 PLU

Official Website: https://plutus.it/

Whitepaper: https://plutus.it/public/white-paper.pdf

Blockchain Explorer: https://etherscan.io/token/0xD8912C10681D8B21Fd3742244f44658dBA12264E

Telegram: https://t.me/plutus_group

Twitter: https://twitter.com/plutus/media

Token Distribution

20m PLU were produced for in-app usage in 2016.

850k (4.25% of the total supply) were sold to raise funds for product development that same year. Plutus raised circa. $1m from this initial crowd sale.

In 2020, 2m PLU were re-allocated from the Pluton Rewards Pool to the Plutus Development Fund. This is being utilised for liquidity improvements via several exchange listings/sales and market makers. Much of this PLU is time-locked across the next two years. Our complete road map and a full breakdown can be found here: https://medium.com/plutus-it/pluton-liquidity-injection-programme-4b7670dae509

The remaining 17.15m is reserved for the Pluton Rewards Pool. Every time a user spends with their Plutus Debit Card, they earn 3% of the purchase back in PLU which comes from this Pool. The lifespan of this rewards programme is expected to last decades. To see how much PLU you can earn per month, and for full details of the reward pool longevity, visit here: https://plutus.it/pluton-calculator

Token Vesting Schedule

Past

30th Jun 2016 = 850k PLU (Original Crowd Sale)
Initial crowdsale to help fund development

Sep 17th 2020 = 1m PLU (Re-allocated from Pluton Rewards Pool)

Token allocation from rewards pool to development fund for PLIP

Sep 17th 2020 = 1m PLU (Locked in deep-cold storage)

Upcoming

Dec 14th 2020 = 100k PLU (PlutusDEX sale lock-up period ends)

Sep 30th 2021 = 500k PLU (Unlocked to Plutus Development Fund)

Sep 30th 2022 = 500k PLU (Unlocked to Plutus Development Fund)

We hosted a low-cap sale of 100k PLU on our internal PlutusDEX (this comes from the Sep 17th 1m re-allocation) in order to increase the liquidity of PLU by increasing the number of hodlers. The sale carried a two-month lock-up period which ends on Dec 14th 2020.

On Sep 17th, an additional 1m was locked away in deep cold-storage, half will be released in 2021 and the other half in 2022.