Pluton are a digital Ethereum asset (ERC20 token) that is issued automatically to users of the Plutus app as a reward for using the Plutus Tap & Pay app (making payments with converted Bitcoin or Ether). The payment process occurs via a proxy conversion to a virtual debit card linked to your account.
Pluton is also an optional way of loading your spending balance for goods and services, just like Bitcoin and Ethereum on the Plutus app. You can make a deposit request with PLU and your order will be matched with a buyer on PlutusDEX. The advantage of using Pluton instead of Bitcoin and Ethereum is that there are 0-fee and near instant transactions.
Distribution
Edit: This section of the article has been updated to reflect the current distribution of PLU (10/02/22).
The total supply of PLU is 20m. A small amount of PLU (9.25%) has entered circulation via crowdsales to fund the product; exchange listings; and rewards issued via the Plutus Card. The circulating supply is intended to grow at a slow and steady pace to provide scarcity.
A small portion of PLU (5%) is allocated to the Plutus Development Fund. The remainder of the supply is locked in the Pluton Rewards Pool. The Pluton Rewards Pool is allocated entirely to the community and cannot be used by Plutus for anything other than awarding Plutus Card shoppers with rewards.
Governance
The rebate emission of Plutons (95.75%) to users is governed by the PlutusDEX (a decentralised exchange powered by the blockchain technology), which records each conversion made on the Plutus app and awards a limited amount of 3%* in Pluton. Users can then convert these Plutons at zero fees (Bitcoin and Ether will have a fee) and make payments towards everyday goods at any debit card and NFC-enabled merchant.
Longevity Calculator
We have released this useful longevity calculator which will illustrate how the rebate emission rate works, and how many more Plutons past the initial distribution will become available each year. If you like numbers then you will enjoy this!
FAQ
If you have more questions on how the Plutons work then please read the Pluton quick start faq or visit any of the blogs provided below. We are also available for a chat in reddit, telegram or any of the social media channels.
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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
