Frequently Asked Questions about Plutus & the PlutusDEX

To our valued Plutoneers, proud early adopters, and new users joining Plutus today, Thank you for your eager interest in the progress of our project. As a result of our recent announcements and the successful milestones reached in the private BETA, we have been flooded with questions that we would like to address and answer in this blog. These are general questions about Plutus, so if you are looking for development updates regarding the PlutusDEX please see our separatedev blog below: Is the Plutus project alive?

More than ever. We have an especially large and skilled development team working around the clock to create a production-ready release. Currently we are also cooperating with our community in the PlutusDEX BETA (and soon the Tap & Pay BETA) to build the best UX that we can.

If you would like to register for a chance to join our BETA program and help test our apps, head over tohttps://beta.plutus.it/ When will this project (DEX / TAP&PAY) ‘’come to light’’? The PlutusDEX is already in private BETA, and the Tap and Pay BETA 0.1 release is almost here. Where is the transparency?

Currently we have open two-way communication on our official slack channel. Our CTO Martin Szyllo is hosting a weekly AMA (ask me anything) there as well, and we provide continuous updates of our development status of the BETA as well as discuss user feedback in #plutusdex_beta We are aiming to hold further QA’s with our management team in the lead up to complete platform launch. As we proceed towards We are going to ramp up two-way direct communication channel with our community on Slack as our marketing and reach increases.

Head over to our Slack and join the discussion:http://slack.plutus.it When will partnerships be revealed? Partnerships will be announced alongside the open BETA release. What are the technical difficulties in the recent months that take up all the development capacity?

The biggest challenge is a with the third party API integration. Many adjustments have been made to overcome and accommodate various service partners, such as KYC, Banking, and Payments. Where is marketing starting?

What will the marketing campaign look like? Marketing efforts have already begun. We have in plans both digital and clever physical marketing, our aim is for them to go viral.

All options are on the table — ad agencies, banner campaigns, event sponsorships, videos, hackathons, blog content, and more. Currently we are refining our strategy and reducing our available selection to the most optimal choices at this time. Several press releases are upcoming with the launch announcements over the next couple of months, which in turn will lead to many print interviews and podcasts as well.

Also, how come this project is not on Bittrex despite being 1+ year old Will the Plutus team ever contact bigger exchanges or is that never gonna happen? What are your thoughts on that? Pluton was designed for the ease of use of the Plutus mobile app, and not a speculative token.

We are soon releasing a platform where token sale participants will be able to redeem their tokens in return for Tap & Pay credit. We will not be approaching exchanges as they are 3rd party entities — not part of our service or purview. However, Pluton is a decentralized technology and all necessary information to add it to any service is easily available online.

ERC20 tokens are readily supported by most of the blockchain ecosystem. As a result, any third party service is welcome to add Pluton based on community demand. Furthermore, our PlutusDEX will have a public API to be used in ways that developers see fit.

Can you give us a sort of a roadmap. So we know what and when we can expect things? The aim is to release everything before the end of this year with updates planned every month.

The current list of milestones is as follows: The SEC recently issued a statement regarding certain token sales in the space, does this affect Plutus? Please see our new SEC blog update for a comprehensive answer. https://medium.com/@PlutusIT/plutus-it-statement-on-secs-investor-bulletin-4e5e49258813 If I buy 10 EUR worth of something and pay using Plutus, how does the fiat-crypto exchange work?

Will I need fiat already loaded, or can I specify: If EUR = enough, then use EUR, else use BTC? Then, if that’s the case, does the BTC trade at market on the DEX? Seems like this would be the efficient way, but I don’t remember seeing any explanation.” Currently you will have to pre-load your Plutus balance by making a cryptocurrency deposit at the market rate.

Cryptocurrencies themselves are not held in the Plutus app, and you can use any external wallet to charge your account. We are also considering other options for integration. When will additional fiat on-ramps become available so that non-European customers can send fiat?

Initial launch will support GBP and EUR. The U.S. and various Asian markets are something we aim to add next year.

Will I be able to buy and sell Plutons and keep a fiat balance on the exchange? The PlutusDEX is used for buying Bitcoin, Ethereum, and of course Pluton. On the DEX, your fiat balance is held until the purchase is completed, and then the balance is transferred to the user who provided the Plutons.

The Plutus Tap & Pay app is for “selling” Pluton, because you receive a fiat balance after depositing Bitcoin, Ethereum or Pluton. Will you add any other tokens to the DEX eventually? Currently there are no plans.

Some argue that adding additional tokens may increase our fees, however it’s not necessary for us to focus on revenue earned in this manner and cause congestion. We already have tokens that serve the use-case perfectly well. Can you buy PLU directly from fiat?

Yes, you can deposit fiat in the PlutusDEX and buy PLU directly from user deposits on the Plutus Tap and Pay app. When will direct deposit of cryptocurrencies become available? No exact date as of yet, but our goal is to release this feature within the next couple of months.

How is the progress android and IOS app coming and when will they be live? And will it be on iOS too? How’s the compliance for that going?

The Android Tap & Pay is going to be the first app release to take place over the next couple of weeks. We have a legal team to provide us guidance with the licensing. And we aim to release the IOS app in the second update.

What does the Plutus Android BETA include? We will be releasing an alpha 0.1 version that will include basic features and UI for testing. A more polished version will follow shortly.

What countries will Tap & Pay work in and will it work when you are traveling internationally? Will app be Europe only? Or USA allowed as well?

And the cards. Issued in USA too? The app will only be available in Europe at first.

We are currently receiving legal guidance, and some adjustments may have to be made before enabling a US launch. We will release more information once it’s available. What are Pluton, and what is their benefit?

Pluton are ERC20 tokens that can be used within the Plutus ecosystem in the same way as Bitcoin and Ethereum, with the important difference that PLU deposits into ones spending balance are FREE to make. This means that when using PLU you will not have to pay any fees at all. Additionally, your transactions will be given the highest priority available in our platform.

How are Pluton coins distributed? Currently only 850,000 Pluton are in circulation, and over the course of 150+ years the rest will be emitted for rebates via a smart contract until all 20,000,000 Pluton are in circulation. The exact duration will vary based on demand.

This means that every time you make a deposit with Bitcoin or Ethereum, you will earn a small amount of PLU as a rebate. Only 20,000,000 PLU will ever be issued, and any further issuance will be impossible. An updated calculator for PLU emission will be available on the Plutus website in the future.

Are Plutons Proof-of-Stake or Proof-of-Work? Plutons are an ERC20 token on the Ethereum blockchain. The Ethereum blockchain uses proof-of-work to secure its transactions, and Plutons benefit from this ecosystem.

I have just now redeemed my tokens in the crowdsale, how long does it take before they appear in my wallet? Usually 24–48 hours. Almost all users have withdrawn their balances already and as a result withdrawals are processed manually and delays may occur.

Please see the official guide here:https://medium.com/@PlutusIT/how-to-get-your-pluton-balance-token-distribution-guide-4a671192a703 Will we be able to reach the developers more often in Slack? The devs at Plutus will be available in slack channel #plutusdex_beta to answer any questions and listen to your feedback. Additionally, our CTO Martin Szyllo is hosting a weekly AMA (ask me anything) in #general.

What is the plan for the FAQ in the future? We will update this post as more questions pour in, set up a separate page over time, and create more comprehensive and more visual learning resources for Plutus and Pluton. To head over to our official slack channel and join the discussion, click here:http://plutus.it Sincerely, Plutus