Legal Opinion on Pluton

For over a year now, we have been a client of Bird & Bird, an international law firm with over 28 offices worldwide that specialises in e-business and technology enterprises.They have a strong background in economic matters, FinTech, and emerging tech. Bird & Bird has approved this public-facing statement regarding the PLU token and its status. In summary, PLU are loyalty points similar to cashback points from your grocery store, or air-miles when you travel.

In this sense, they qualify as utility tokens in every category. Pluton are defined by three major characteristics: In the Plutus pre-sale terms and conditions, a Pluton (“PLU”) is defined as a loyalty token and pre-sold product to be used within the Plutus ecosystem. Therefore, and based on the official definition, PLU are essentially app tokens.

It’s important to note that Pluton can ONLY be treated as value on the basis that they may: What is important to note here is that: