Pluton Loyalty Rewards: Forgetting 'Crypto Cashback'

Early Growth and the Role of PlutusDEX

During our early growth stages, when PlutusDEX was live, PLU could be converted into card balances. At the time, we used simplified terms like “crypto cashback” to explain our unique tokenised reward system to our Web2 consumer base.

While this terminology was widely understood, it implied a similar reward experience in-app:

Clarifying PLU Ownership and Redeemable Value

It’s important to clarify that earning Pluton Rewards (PLU) has never constituted a monetary claim against Plutus or Block Code. PLU, a product created and owned by Plutus, is designed for issuing in-app loyalty rewards and does not grant rights to redeem fixed fiat amounts or establish direct financial claims on the company.

Find more details in our Terms & Conditions, helpdesk article, or the summary below:

Shift in Customer Behaviour

‍When the DEX went offline, we adjusted our messaging to align with the product’s intended design. Unfortunately, this update led to unintentional shifts in customer behaviour to focus on third-party payouts, instead of self-custody stacking—a use case neither intended nor promoted. This shift impacted the ecosystem’s sustainability, prompting necessary adjustments like the DA and the updates in our 2024 whitepaper.

Commitment to Building a Sustainable Ecosystem

While we acknowledge the transition and impact on your rewards has been challenging, our rapid progress and the introduction of new multiple core utilities reflect our commitment to building a valuable, timeless reward system for all customers!

With the release and community approval of the 2024 whitepaper, Plutus has been promoting features and marketing content to shift the focus back toward using PLU as Web3 loyalty rewards system offered for in-app use through our crypto rewards debit card.

Recognising Customer Challenges and Reinforcing Our Commitment

‍We acknowledge the growing pains of these updates, and apologise for any confusion caused. In recognition of these challenges and to demonstrate our commitment:

1. We’ve apologised personally to those impacted by the October PLU payout restrictions, reinstating their access to payouts. Over 50% of these customers have already successfully processed their requests.
   
   
2. We’ve introduced simplified options for using PLU externally, giving customers full ownership of their rewards without restrictions. More details: HERE.
   
   
3. PlutusSwap access (along with all other utilities) is now live for nearly all EEA customers. The Reward Levels' free payout feature (available by 31st January) and dynamic fee options are already active, with no enforced restrictions previously applied to certain accounts. A small number of EEA customers without PlutusSwap access will also gain access this week.
   
   
4. Third-party community moderators, ambassadors, or outsourced customer service agents (hired during periods of high demand) may have responded to your requests with incorrect advice regarding PLU’s external use, acted outside of our company guidelines, and have since been addressed with reinforced zero-tolerance procedures.
   
   
5. We’re also offering a full six-month promotional refund for subscription costs from 1st October 2024 to 31st March 2025, paid out in PLU at no cost, for customers dissatisfied with the transition and progress after we achieve our Q1 goals. See simplified terms below.

Plutus 2025: Building a Valuable and Timeless Rewards System!

As a team committed to building Plutus since 2015 to provide highly valuable rewards to our customers, we are focused on restoring trust and sustainability, enhancing utility, and returning PLU usage to its core purpose: in-app rewards that enrich your Plutus experience.

Please take this opportunity to explore the new utilities, share your feedback, and help us transition into rebuilding the reward system you’ve always loved. 

Let’s recapture the excitement and move forward together!

Promotional Refund Terms:‍

Continue using the product under its terms and conditions. If you’re not satisfied with the progress by 31st March, you can request a full refund of your Q4 & Q1 subscription costs, which will be credited to your account in PLU by 10th April. The refund will be issued based on the external sourced rate (not the in-app rate) as of 23:59 on 31st March. For customers on an annual subscription, this will be calculated on a pro-rata basis.

To receive the PLU credit, you will be required to close your account by 30th April. You will also have until this date to spend your card balance without incurring any additional monthly subscription fees. PPlease review the important notes below for further clarification:

Article Summary: TLDR

The article explains the updates to Plutus' rewards system, addressing past confusion surrounding terms like “crypto cashback” and the conversion of PLU into card balances through PlutusDEX. The transition away from fixed third-party rates has led to a shift toward in-app rewards, with a focus on creating a Web3 loyalty rewards system through a crypto rewards debit card. The company has transitioned to align with the product’s original purpose and is actively working on improving the redeemable value of PLU.

The article reassures customers that Plutus is focused on rebuilding the rewards system, restoring sustainability, and enhancing utility to provide greater value through in-app rewards.

If you have any questions, please contact us at support@plutus.it. We are here to help!

Thank you
The Plutus Team

‍