Upgrade your Reward Level - Get 100% PlutusGifts Fees Back in PLU (Dec 2024)

Important note: this promotion has now been extended until 13th December 2024, 23:59 UTC.

Overview

PlutusGifts will open to all customers soon!
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Unlock a new Reward Level for a 100% refund on PlutusGifts fees in PLU throughout December. This offer ends on 13th December, before full public access.

‍Eligibility & Activation Deadline

• This promotion is available to all customers who unlock a new Reward Level starting from Chad to Honey Badger. 
• To qualify, you must unlock a new Reward Level by December 13th.

Benefits

• 100% Fee Refunds (PLU): Receive full refunds on all PlutusGifts swaps for the month of December.
• Priority Access: Enjoy early access to PlutusGifts before it opens to all customers.

What You Need to Know:

The Minimum £/€10 Anchor:
The current 30% fee on all PlutusGifts transactions is fully refunded in PLU at the emission rate active in-app at the time of the swap. On January 10th, you will receive more PLU compared to after the £/€10 minimum anchor is implemented in Q1 2025. Learn more here.

Dynamic Fees:
Starting next week, dynamic fees may automatically activate as PlutusGifts becomes available to all users and overall usage increases. Fees may increase by 10% with higher volume or decrease as the in-app PLU emission rate rises. Learn more here.

Support

• For any issues or questions, contact our support team.

Promotional Period & Payout Terms

• Start Date: December 3rd, 17:00 UTC.
• Cut-off Date: December 13th, 23:59 UTC.
• Access Date: Feature already accessible. 
• PLU Refund Date: January 10th 2025.
• PLU Refund Rate: Based on the emission rate in-app at the time of PLU redemption for gift cards, not the minimum £/€10 in-app anchor in Q1 2025.

FAQ

‍How do I participate in this promotion?

To participate, upgrade your Reward Level by December 13th. After upgrading, you’ll be eligible for 100% fee refunds in PLU on all PlutusGifts redemptions throughout December.

Can I upgrade to Adventurer to qualify?

No, upgrading to Adventurer does not qualify for this promotion. To participate, you must upgrade to a Reward Level of Chad or higher (Chad, Hero, Legend, Veteran, Myth, or Honey Badger). The minimum qualifying Reward Level is Chad.

How will I receive the PLU for my PlutusGifts fees?

Any fees incurred for PlutusGift swaps throughout December will be refunded in PLU, based on the emission rate at the time of redemption, and not the minimum £/€10 in-app anchor set for Q1 2025. The PLU refunds will be credited to your account by January 10th, 2025.

I’m on a higher Reward Level (e.g., HoneyBadger). Can I participate?

This promotion applies to all customers who upgrade to Chad or higher. If you're on a higher Reward Level, like HoneyBadger, and cannot upgrade to Titan due to availability, reaching the final sublevel of HoneyBadger will also make you eligible.

How do I unlock a new Reward Level?

To upgrade your Reward Level:
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1. Log in to Plutus via the web app.
2. Go to Perks → Connect Wallet and follow the on-screen instructions.
3. Ensure you have earned enough PLU in-app or in your connected wallet to meet the PLU requirements of your desired Reward Level.

Once upgraded, you'll qualify for the 100% fee refund (PLU) promotional benefits.

What are the PLU Requirements for each Reward Level?

Check the PLU Requirements for each Reward Level and the associated benefits in the Reward Level details provided.

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What Does the Dynamic Fee for PlutusGifts Mean?

The Dynamic Fee for PlutusGift means that the fee applied to your PlutusGift transactions may vary depending on factors like the current PLU emission rate and overall platform usage.

Here’s how it works:
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1. Fee Adjustments Based on Emission Rates:
   The fee changes in response to the PLU emission rate in-app, which is determined by external sources. This rate may fluctuate, influencing the fee you pay for each transaction.
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2. Temporary Fee Increases for High-Volume Transactions:
   As the PlutusGift feature scales, high-volume transactions may incur temporary fee increases (e.g., an additional 10% or more). These increases are necessary for scalability and will be communicated clearly within the app.
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3. Future Minimum Anchor:
   By Q1 2025, Plutus plans to introduce a £/€10 minimum anchor for both redemptions and emissions in-app. This will reduce fees significantly, making 1 PLU equal £/€10 in gift card value, with little to no additional cost.

In summary, the Dynamic Fee adjusts to ensure the sustainability of the platform while scaling efficiently for all users, with clear communication about any changes.

What fee is returned in PLU?

When redeeming PLU for gift cards, a dynamic service fee of 30% in your local currency is applied. As part of this promotion, 100% of this service fee will be returned to your account in PLU for all PlutusGift swaps throughout December.

What rate will the 100% PlutusGifts fee refund be based on for promo participants?

The refund will be based on the PLU emission rate active at the time of each transaction. For example, if you redeem 1 PLU for a £/€10 gift card on December 3rd, the refund will be calculated using the PLU rate in-app on that day.

All refunds will be credited to your account by January 10th, 2025.

Is there a limit on the total number of PLU I can redeem for gift cards?

There is no overall limit on PLU redemptions across brands and regions. However, during the initial MVP launch, there is a limit of 2 swaps per brand. The enhanced version of PlutusGifts, launching in Q1 2025, will offer a broader selection of brands and gift cards with values up to £/€1000.

Is there a limit to the PlutusGifts fee coverage?

No, you will receive 100% back in PLU on all PlutusGifts service fees paid during December. 

Do I need to redeem a specific number of PlutusGifts to qualify?

No, there is no minimum redemption requirement. Any PlutusGifts redeemed during the promotional period will qualify for the fee refund.

What happens if I downgrade my Reward Level?

If you downgrade your Reward Level before January 10th, 2025, you will forfeit your promotional benefits and will no longer be eligible for the fee refund in PLU.

Who can I contact if I have questions?

If you have any questions or need assistance, please reach out to our support team. We’re happy to help clarify any details regarding this promotion.