Articles
A Look Back at 2024 and What’s Next
5 min read
In 2022, we announced plans to improve the sustainability of our rewards system by introducing the Difficulty Adjustment (DA). This initiative generated demand for rewards and increased in-app engagement, contributing to improved sustainability. However, the implementation on 1st July, 2023 was accompanied by the grandfathering of early adopters—a community-focused decision that ultimately impacted sustainability as user behaviour shifted toward third-party payouts. Explained here in more detail.
Responding to community feedback, we made the decision to cancel DA and committed to outlining a clear, forward-looking vision in the Plutus 2024 Whitepaper.
After months of meticulously planning, we released the Whitepaper in Q3 2024, approved by 63% of the community vote. We then committed to delivering its core features in Q4:
In just one quarter, this self-funded, small yet highly effective team delivered multiple new features, and four core utilities. The speed of execution has been unprecedented, especially considering that these are entirely unique features built from the ground up. These innovations not only strengthen PLU but also bring Web3 into practical, everyday use cases.
Similar to last year, we’ll build at unprecedented speed to innovate with never-seen-before features, such as PlutusCashback, Pool & Earn and Tokenised Deposits.
We’ll kick off the year by prioritising Reward Levels. All remaining features, including Double Reward, Free Payouts, and Golden Tickets, will be available by 30th January.
For more details, visit our Development Plan.
The legacy system, established in 2015, relies on third-party sources to calculate its in-app reward emissions rate (the value used to determine card rewards). However, these external sources do not reflect the true intrinsic value of PLU in-app, and thus impact sustainability.
Programmes like Air Miles anchor minimum redemption and emission values in-app to maintain stability, ensuring the reward systems remain unaffected by external factors.
Starting 20th February 2025, PLU earned through card spending will also align with in-app redemption rates, anchored at a minimum £/€10 through utilities with no upper limit.
By matching the PLU rewards with in-app utilities, PLU emissions never fall below in-app redemption values and maintain a fair equilibrium. This lowers token emissions (keeping a low circulating supply) which helps us steadily increase PLU’s redeemable value in the app.
Note: As part of this adjustment, third-party emission rates currently shown in-app will be removed before setting the £/€10 Emission Anchor to match our utilities.
Starting 20th February 2025, PLU earned in-app can be redeemed for utilities but will not count toward Reward Level progression or earning CRY unless transferred to a connected external wallet. Once stacked externally, PLU will continue to contribute towards level progress and earning CRY.
This change fosters a sustainable ecosystem by encouraging self-custody and limiting speculative behaviour, ensuring fair level progression and long-term engagement in-app.
Currently earning CRY with PLU stacked in an internal wallet?
Please read the guide below for the important actions you need to take before 20th February, 2025.
Starting 20th February, any PLU you earn and choose to keep in-app can only be used for redeeming on utilities. It won’t help you level up or earn CRY unless you move it to an external connected-wallet. From then on, the system will run smoothly on its own, creating a sustainable loop where PLU continues to be used within the ecosystem (redeemed in-app or stacked in a connected-wallet).
The Lasting Benefits: The system update removes speculative behaviour by encouraging customers to stay active within the app. It also reduces the creation of new tokens by recycling old ones through FUEL (on-chain fees coming in 2025). This helps make the system more sustainable, which ultimately helps you reach your goals more effectively.
By following the system’s design—redeeming or stacking PLU Rewards in self-custody and treating it as loyalty points—the entire ecosystem thrives!
Learn more here about our Reward-as-a-Service feature for our enterprise partners.
By the end of Q1 2025, PlutusGifts will eliminate all fees, and gift card values will increase to £1,000+. Each PLU redemption will offer £/€10+ in savings on popular brands. This sustainable structure will become the standard for users and continue to improve, providing more value per PLU on this utility.
Starting in Q1, all customers will enjoy the default PlutusGifts structure. However, those who stack PLU and reach a new Reward Level by 20th February will also unlock exclusive bonus discounts of 30-100% on gift card swaps.
These updates ensure that 1 PLU consistently holds a £/€10 redemption value in-app, regardless of the free brands available in the UK and Europe, which also retain their £/€10 intrinsic value per earned reward.
Here’s how the discounts per PLU will work for Reward Levels launching in Q2:
Note: £/€10 Gift Cards for 1 PLU, plus more free brand options, will be available for qualifying users in Q2. Read our PlutusGifts update for details here.
Our recent progress and rapid updates show our commitment to fairness and sustainability. As we roll out the remaining Whitepaper features and upgrades, we’re confident they’ll further strengthen the Plutus ecosystem and add more value through utilities.
In Q1 2025, utilities like PlutusGifts, PlutusMiles, and PlutusTravel will become more valuable and accessible. With support from our B2B partners and growing in-app engagement, the system is designed to remain stable and resilient to external factors impacting sustainability.
Thank you for your support as we refine the ecosystem—together, we’ll build a more sustainable and rewarding future for all. We’re excited for what’s ahead!
⚠️ Action Required Before the Deadline!
To ensure your internal PLU counts towards Reward Levels, request a payout before 20th February, 2025. After that date, internal PLU will not count towards Reward Levels and CRY earnings forfeited unless moved to self-custody stacking.
Key Points to Note:
Note: If you are not stacking earned PLU towards Reward Levels or earning CRY and only used them for redeeming on utilities, then no action is required.
If you hold PLU in your internal balance, you must process a PLU Payout to a connected external wallet by 20th February. This is crucial if you want to:
⚠️ Why this matters:
Note: If you don't stack for Reward Levels or earn CRY, and prefer to use PLU for internal utilities (e.g., PlutusTravel, PlutusMiles, PlutusGifts, PlutusCashback (2025), or PlutusSwaps), then transferring PLU to an external connected wallet isn't necessary. No action is required, and you can continue enjoying the in-app utilities.
All new benefits, including Double Reward, Golden Tickets, and free PLU Payouts for self-custody stacking, will be available to everyone who remains engaged in-app. The eligibility criteria include:
Note: This does not include the PlutusGifts offer, which requires unlocking a new level.
Unlocking a higher Reward Level to enjoy the following benefits:
Note: Limits and terms apply.
Upgrade requirements:
Note: We recently lowered the requirements for Veterans to make it more accessible.
Once you unlock a new level, you can enjoy our new Reward Level benefits indefinitely unless announced otherwise. However PlutusGifts discounts may only be limited to 12 months, please read here for more details.
The benefits (except PlutusGifts) remain available to those who unlock a new higher Reward Level after these dates.
To unlock or maintain a Reward Level:
Note: From 20th February, internal PLU balances will no longer count towards Reward Level progression. Transfer PLU to your connected wallet to ensure it contributes.
They’re already live! As of 9th January 2025, the new lower Reward Levels—Noob, Researcher, and Explorer—are available for all eligible users to unlock and enjoy. Please note that if you’ve automatically unlocked a Reward Level on 9th February using your internal stack, it won’t count towards new benefits. To unlock higher-level rewards and gain its new benefits, you’ll need to stack PLU in your external connected wallet before 20th February.
Note: The front-loading features associated with lower reward levels will be available in Q2.
No, our core principle is "Don't buy crypto, earn it." We never recommend engaging with PLU externally outside the platform. When we ask you to unlock a new level or sub-level, we mean using your reward earnings currently held in-app or previously removed from the system via the self-custody stacking feature—but not using it for stacking in self-custody.
From 30th January, upgraded Reward Levels unlock exciting new benefits. Customers who stack rewards and unlock a new level before 20th February will receive:
Benefit Quantities: The number of benefits you receive depends on your Reward Level. See below for details.
New benefits, including zero-fee PLU Payouts (where eligible), will be available starting 30th January. Once you stack rewards and unlock a higher Reward Level, benefits will be activated within 14 working days of your upgrade taking effect.
As long as your payout request is submitted before 20th February and the amount is sufficient to trigger a level upgrade, you will remain eligible for the new benefits once the request is approved.
Requesting a PLU Rewards payout is quick and easy. Here’s how:
Important Notes:
Yes, a dynamic fee applies to each PLU Payout and is required to process the transaction. For the most accurate fee details, please check directly in the app.
To continue earning CRY (Compounding Rewards Yield) without disruption, make sure to transfer all your PLU from your internal balance to an external wallet before 20th February. Any PLU in your internal balance will still earn CRY up until that date, but it’s important to act soon to ensure your rewards aren’t lost.
Example: If you’ve earned CRY on 1,001 PLU but only transfer 1,000 PLU to your external wallet leaving 1 PLU behind, you'll lose all CRY earnings.
To protect your CRY earnings:
Important note:
PLU held within the Plutus app can be used for the following utilities:
Note: Internal PLU cannot be used for Compounding Rewards Yield (CRY) or Reward Level progression unless transferred to an external connected wallet.
PLU held in an external wallet connected to Plutus can be used for:
Note: We are actively expanding utilities for external wallets, including PlutusSwap Web3, Pool & Earn, and more. Further details will be shared in due course.
No, once earned PLU is transferred to an external connected-wallet, it cannot be moved back to the Plutus app.
No, PLU held in an external wallet can currently only be used for Reward Level progression and earning Compounding Rewards Yield (CRY). Our Web3-based utilities, including PlutusSwap, Pool & Earn, and others, are planned for 2025, subject to licensing approvals. Once these utilities are available, external wallets will be fully supported.
Any PLU you have previously transferred to an external wallet will continue to contribute to Reward Levels and CRY, as long as it remains in your connected wallet. Moving it to a third-party wallet (including personal Metamask wallets not connected to the app) will breach our terms of use and may affect your Reward Level benefits.
Note: Only users who have completed 12-month CRY periods are eligible to move PLU to non-connected wallets.
Yes. For example, if you spent £100 with your Plutus Card, and you are eligible for 3% rewards in PLU, you would receive 0.3 PLU
The £/€10 anchor for PLU emissions will begin on 20th February 2025. From that date, all PLU earned through card spending will match the minimum £/€10 in-app redemption rate available through utilities, ensuring stability and sustainability within the rewards system.
Yes, these updates align with the concepts introduced in our 2024 white paper. The shift towards sustainability and providing more value to customers for their rewards is essential, and it’s a change supported by 63% of our community.
These efforts are critical for the long-term stability of our ecosystem, particularly to prevent the abuse of self-custody stacking for third-party payouts. While we have offered free payouts for years, it’s time to create a fairer and more balanced system for everyone. Disclaimers highlighted in our 2024 white paper >
Yes, absolutely. You can request a fiat withdrawal and close your account. Simply select the relevant option in our Helpdesk dropdown, and our support team will assist you. for assistance, and we’ll guide you through the process.
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