Plutus Perks | External Staking & Level 1–5 Upgrades

Decentralised staking and improvements to the Plutus Perks feature are now live! This blog will cover the changes that have been made and how it works. The Pluton (PLU) that you own can now be staked using your external wallet in a decentralised manner!

You can now obtain the benefits of Plutus Perks by holding PLU in your own personal wallets. You can now connect multiple wallets and Plutus will calculate your cumulative PLU holdings across these, as well as your Pluton Reward earnings in your dashboard, meaning there is no need to consolidate your PLU holdings into a single wallet. In order for your personal cryptocurrency wallet to be verified, you must execute a PLU or ETH sell order on the PlutusDEX.

If you have multiple wallets containing PLU, the process must be repeated for each wallet. Once you have executed the sell order and we have validated the wallet, we can scan its contents (your PLU balance) due to the transparent nature of the blockchain and determine your Plutus Perks Level. Staking requirements are as follows: The team will be continually iterating upon the Plutus Perks feature to offer increasingly more rewards and utility for the PLU token.

Note:Reaching a level does not necessarily mean all Perks within are unlocked. There are sub-requirements to unlock certain Perks. Upgrades have been made to Level 4 and Level 5 of Plutus Perks, read the details below.

In order to enjoy the benefits of Level 4 and Level 5, you must stake PLU for a minimum of 21-days. If your staked PLU holdings fall below the staking requirements of Level 4 or Level 5, then the counter will be reset to 0-days. Note:The 21-day time-lock only applies to Level 4 and Level 5, the other Levels can be unlocked immediately if the staking requirements are met.

Level 4 and Level 5 users will receive a higher Pluton Reward rate at 60+ million online and in-store Visa merchants. Level 4 and Level 5 users will also receive an additional PLU reward on all previously unlocked Perks at household brands. Staking sufficient PLU continuously for 21 days will unlock a free Premium/Pro account for one month.

Before the end of your free month, we will check if you have staked continuously for the 21 days prior and, if so, your free month’s subscription will be renewed. Top stakers can enjoy an additional bonus in PLU whenever they purchase the token via the PlutusDEX. The PLU will be visible in theEarnedsection of your Pluton dashboard immediately and counts towards your staking balance, this move across toAvailableafter the time-lock expires.

Note:The purchased PLU will be paid out immediately, whereas the bonus PLU will be locked up for our standard 45-days transaction verification process to prevent abuse of the reward system. From next year, Perk reward payments will be improved and awarded in crypto only rather than additional fiat cashback. This will allow us to offer improved reward rates at a more extensive list of retailers; it also ensures your payout date is fixed and not dependent on lengthy 3rd party processes (180+ days).

This change will take effect in Q1 2021. There are plenty of exciting product releases, UX improvements, and rewarding news still to emerge! PLU is now available on Bitfinex and it will be listed on another Tier 1 exchange in Asia before the end-of-year.

This will be in line with our card launch in the far East next year. You can find our latest roadmap below. To stay up-to-date with the latest ongoing, follow ourMediumblog where we cover all major announcements in the most depth such as our complete road map.

Join us onTwitterfor the highlights. To speak directly with a member of the team, or our warm-hearted community, join us onDiscordorTelegram. Every time a Premium/Pro member spends with their Plutus Debit Card, they earn up to 3% of the purchase back in Pluton (PLU), our native utility token.

This applies to all retailers (both online and in-store) and comes as standard, regardless of how much PLU you own. Staking PLU can unlock additional rewards at selected online retailers. The more PLU you own, the more retail brands you will unlock and the more significant the rewards become.

There are five levels in total, each with increasingly challenging staking requirements and more appealing rewards. Our Premium/Pro users have been earning 3% of every purchase back in crypto (PLU). This earned PLU appears in the Pluton Dashboard of your account and contributes towards Perks’ staking requirements.

This Pluton Dashboard is not a wallet, it is purely an accounting screen to track your rewards. Your earned PLU does not leave the Pluton Rewards Pool (17.15m PLU) until it is withdrawn to your personal wallet. However, you can now connect any wallet of your choice and stake in a decentralised manner.

Please see the guide shared above.