The PlutusDEX Token Sale is Now Oversubscribed

We recently announced ourPluton Liquidity Injection Programme(PLIP) initiative with the aim of increase token awareness, and the first sale round is currently live on our internal PlutusDEX platform. Pledge Here:https://plutus.it/token-sale We set a cap of 50k Pluton (PLU), which equates to 0.25% of the total supply, to be sold during the PlutusDEX sale and it was oversubscribed within 48 hours. We hit our target from ~200 participants and there are almost one thousand potential pledgers still in line.

Over the last 24 hours, we have seen a surge in people going through the KYC process in order to pledge, however, there are currently over 830 participants in the queue waiting to be verified and less than four hours remaining until the sale ends. We have decided to accommodate all our queued participants and extend the sale for a further three days until 13 Oct 2020 (Tuesday) at 18:00 BST. The aim of the sale is to improve accessibility/awareness of PLU and the extension may help in achieving this key goal.

Given the extent at which the sale is oversubscribed in the short time-frame, we will also be increasing the sale amount to accommodate the potential Plutus members still going through our KYC system. We are increasing the hard cap of the PlutusDEX sale from 50k PLU to 100k PLU and the sale end date to 13 Oct 2020. To ensure the overall PLU sold across all our token sales remains low, we will be cancelling the 50k PLU sale on our upcoming Tier 3 exchange partner.

Whilst the sale is being cancelled, the exchange listing is not, and it will be announced soon after the sale ends. Note:Previous listing schedule visible above. Our first Tier 3 sale has now been removed and the 50k PLU re-allocated to our current PlutusDEX sale.

If you are a pledger who is unhappy with the recent changes, we are extending our cancellation policy (emailtokensale@plutus.it), meaning you have the option of returning your pledge. Join ourDiscordorTelegramfor a chat. Below are the new adjusted dates, please familiarise yourself with the new timeline.

Plutus DEX Start:7 Oct 2020 (18:00 BST) PlutusDEX End:13 Oct 2020 (18:00 BST) Cancellation Policy:14 Oct 2020 (10:00 BST) PLU Allocation Confirmation Email:21 Oct 2020 Refunds Paid between:22 Oct — 30 Oct 2020 PLU Payout Date:14 Dec 2020 Price-Floor Guarantee:11 Jan 2021 Pledge Here:https://plutus.it/token-sale Yes, there is currently a £/€200 limit in place due to the low number of swaps taking place on the PlutusDEX which is what the PLIP is intended to resolve. Over the coming weeks and months, this will be periodically increased and then removed. Increasing it without the PLIP in full action will result in swaps not taking place.

The KYC process time can take anywhere from 10 minutes to 24 hours. The longer time frame may mean you have been matched for AML (anti-money laundering) or another similar reason. Please sign up well in advance of the updated PlutusDEX sale end in order to prevent missing out.

There is a hard cap of 100k PLU for the PlutusDEX token sale and a further 100k PLU set aside in the Plutus Development Fund in the event of oversubscription. Total 200k PLU. If the sale ends and we are over the hard cap of 100k PLU, the 40% bonus is issued on top which will result in a payout of 140k PLU in total.

Being oversubscribed will mean that participants will have remaining unspent balance. They will have several options with this remaining balance: A maximum of 60k PLU remains (200k PLU — 140k PLU) to be paid out if necessary. Any remaining refunds will automatically be re-pledged.

The PLIP stands forPluton Liquidity Injection Programme. It is a plan voted upon andapprovedby our community to improve accessibility of PLU through several exchange listings and sales.