LET’S MAKE BITCOIN USABLE
- Plutons can be instantly converted to a Plutus Tap & Pay balance for everyday contactless purchases, with many added benefits over using Bitcoin — including 0% fees, free deposits & withdrawals, and instant conversions.
- Only 850,000 (4.25% of a total 20 million) Plutons will be available for sale for ETH and BTC. The sale will run for a total of 9 days starting today on 21st June at 8pm GMT. The rest is not owned by Plutus.it and locked to be automatically and very slowly emitted by a decentralised rebate system over hundreds to thousands of years. (Much slower than BTC inflation.)
- Plutons are issued on the Ethereum blockchain, and can be distantly compared with cashback points or frequent flier miles. Small amounts of Plutons can also be earned by making conversions with Bitcoin or Ether on the Plutus Tap and Pay app. The initial value of a Pluton will be determined at the end of the crowdsale.
Do I need any advanced knowledge to use Plutons or Plutus Tap & Pay?
No. If you know how to send Bitcoin/Ethereum using any wallet at all, you’re ready to go! Please see this video of the payment process, deposit to checkout is under 2 minutes.
Who will benefit the most from Plutons?
If you travel between countries with different currencies, or want to make an instant deposit while you are standing inside a store already and don’t have time to wait for bitcoin confirmations, then Plutons are your best option. You will be able to use Plutons at any NFC-enabled point-of-sale terminal. And unlike Bitcoins, redeeming Plutons is always instant and free. If you want to save money on conversion fees, definitely go with Plutons.
How many Plutons will I receive? You will receive an amount proportional to the BTC and ETH you contribute divided by the total funds raised. The value will be calculated after the sale, which means that if the BTC / ETH price goes up or down now, it not have any effect on Plutons.
Will I get a bonus for early participation?
Yes, a bonus will be added for early participation starting from 3% on day 1, reducing by 1% daily and lasting for only the first 3 days. The bonus will be time stamped from the Blockchain and will be added towards the final Pluton balance awarded at the end of the crowdsale.
Can I trade Plutons?
Plutons can be traded on the PlutusDEX in exchange for contactless balance on the Plutus App. You can also send them to your friends within the app or any other wallet of your choice. Other exchanges, even person-to-person services, can easily add Plutons. If you are a developer, you can create apps using Plutons.
Who controls Plutons?
Once they are locked in the rebate pool, nobody. Plutons distribution will be governed by a token smart contract. Neither Plutus.it, nor any of the founders or employees will be able to hold or distribute any Plutons. The only way for us to obtain Plutons ourselves is the same way as any other user. Either by participating in the crowdsale or by converting Bitcoin and Ether on PlutusDEX for use on the Plutus Tap and Pay App.
“Most importantly, Plutons are decentralized and NOT owned by Plutus.it.”
Why are there only 4.25% of Plutons available for initial offering?
Plutons are a rebate token and not a “conventional alt-coin or cryptocurrency”, we intend for Plutons to be widely used in future as decentralised rebate system, not just on the Plutus Tap & Pay, but also many other services we plan to offer, as well as other third party integration. Raising the amount of Plutons for initial distribution would negatively affect the most important feature of the Plutus.it payment gateway and the longevity of the decentralised rebate system.
As a trader on the DEX, why would I buy Plutons?
The main reason to use the DEX is that there are zero fees — no withdrawal fees, no deposit fees, no sign-up fees, and no trading fees. Clever traders will find ways to take advantage of this — especially since a developer API will be available.
Plutons were designed to be the first actual token with an everyday use-case — buying groceries, coffee, and anything else using NFC and digital tokens with instant conversions and zero fees. If you buy Plutons on the PlutusDEX directly from the app users itself, you will be able to trade them internally & externally with user who would like to use them on the Plutus app; or keep them for yourself to enjoy a zero fee shopping experience without having to deposit BTC or ETH in advance.
What’s the issue with releasing the app on iOS / Apple?
Apple has banned apps from using its NFC functionality! Thankfully, Android does not discriminate in demographics and has the largest market-share.
What if the market capitalisation doesn’t match demand?
Larger Bitcoin or Ether deposits will result in more Plutons being emitted. The emission is also relative to the value of Plutons, controls the amount emitted via rebate. This ensures the economic health of Plutons by automatically decreasing the rebate emission rate when the network grows, ensuring the longevity of the rebate pool.
Who do you see as your target market?
Plutus was made for Bitcoin users, traders, entrepreneurs, miners, remote employees and anyone else within the blockchain ecosystem. In the future, other deposit methods will be added to gently introduce ‘newbies’ to Bitcoin and the blockchain ecosystem.
How will the funds be used?
How is the value of Plutons protected during the crowdsale?
Due to the unexpectedly large amounts raised in recent crowdsales, we are taking precautionary steps by adding a maximum cap of a BTC and ETH equivalent of 15,000 Bitcoin for the sale. (Note: this is a guideline, not a suggestion.) We also reserved the right to end the sale early with a 24 hours notice, in case a scenario occurs that lets us complete development a lot sooner.
Are Plutons an investment or shares of Plutus.it?
No, absolutely not. Plutons are digital tokens with a practical purpose — transfer of value to enable contactless payments. They offer two main advantages over using Bitcoin within our app — instant conversions and zero fees. And they will remain at zero on the entire payment system including services we aim to offer in the future, such as online payments with a virtual debit card powered by crypto.
Plutons are incredibly rare and emission is limited via rebate for Bitcoin and Ether deposits only. Their circulation will remain very minimal for the next hundreds, or even thousands of years. However, they are transferable fungibles, so you will be able to exchange them with other users anywhere.
Plutons will always be prioritised within the entire Plutus payment system, and never incur any fees. Plutons were created by Plutus.it to make using Plutus Tap and Pay easier and reduce friction.
What will Plutons be used for in the future?
In the future, our team will look forward to additional partnerships, and implementing Plutons as a rebate token for other services and merchants. The details are not fully decided yet, but Plutons are open-source, so third party developers are welcome to add their own use-cases whenever they like!
Who are the VDC providers?
The current VDC provider tested on the app is authorised by Visa and the FCA. A long term partnership hasn’t been made official yet. We need to be able to forecast our potential market size before we can be in a long term agreement, reduce costs, and for the VDC provider to reveal their details.
How are the crowsale funds secured?
Bitgo will provide multi-signature account for BTC raised. ETH raised will be stored in a separate multi-signature wallet. The Plutus development team only gains access to all of its funding once it has reached key self-imposed milestones.
Who handles the multi-signature wallets?
Access will be secured between all 5 members of the Plutus.it Board. The crowdsale governing board will have an overview of these wallets, each holding a key required for consensus to access any of the funds locked in these accounts. Please see our recent post to read more about these important updates on the crowdsale governing process.
To learn even more about how the sale will work, please visit our previous blogs below:
You can create an account by visiting the link below or you can read one of our many previous blogs to find out more about our team, the PlutusDEX, or how Pluton, the next generation decentralised rebate system works.
Plutons Crowdsale Start Date and Contactless Payment Process:
Get Plutons — create an account
Plutus Tap and Pay App — Payment Process Demo & Frequently Asked Questions
Pluton–decentralised rebate system for contactless payments
PlutusDEX–converts crypto to fiat for contactless payments
