Reward Levels

1) Can you share a complete breakdown of the Reward Levels and what benefits they include?

The following table showcases the new Reward Levels, their requirements, and the associated benefits.

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Despite adjusting the requirements, the new Reward Levels provide greater value through self-funding features such as the Compounding Reward Yield (CRY%). This new system shifts the focus from merely earning and withdrawing selling to earning and engaging long-term, allowing customers to earn more rewards than previously provided via card spending and Perks. Please see the value comparison chart and CRY calculation details shared in the simplified white paper here.

2) Will I earn more or less with the new model?

Here is an example of the monthly rewards you can earn based on the current model versus the upcoming proposed model. As you can see, with our new model, customers can earn nearly 5x more in rewards. This is due to the addition of compounding rewards yield and other key benefits.

3) Will my Reward Level be downgraded on 1st August? And will I receive fewer Perks and PLU Rewards?

Starting 1st August, the new PLU Requirements will take effect, and your Reward Level will be adjusted accordingly. While this may result in fewer Perks and a lower PLU Reward rate initially, the overall value you will earn by the end of the year will be higher due to the addition of Compounding Rewards Yield (CRY%) and your multipliers! With these new features, you can earn nearly 5x more than before. So, don't worry too much about the immediate changes in Perks; you'll be earning significantly more through these new avenues for your long-term loyalty.

4) Why does Noob offer a 10% Reward and CRY Rate?

Currently, fewer than 10% of our customers engage with Reward Levels. To boost participation by front-loading all customers as they are now automatically included in Reward Levels due to our low 1 PLU Requirement. This offers a maximum 10% reward and CRY rate, accelerating their initial rewards journey. New customers will start at the Noob Reward Level, enjoying a high initial reward rate to quickly experience Plutus’ top features. Please note, benefits for sub-levels may vary and restrictions are in place to prevent gamification.

Upcoming Releases

5) What is being released on 1st August 2024?

Following a successful vote, on 1st August, Plutus would implement the first stage of the white paper. This involves the following Reward Level upgrades:

• PLU Requirements: The PLU requirements for Reward Levels will be updated to better reflect their value and ensure long-term sustainability.
• CRY Backdated: Although CRY% will be fully implemented later in 2024, rewards will be backdated to 1st August to those on a Reward Level who continuously stack. This means you will start benefiting from our new Reward Levels immediately.
• New Reward Levels: Initially, we're introducing the Chad Reward Level. Down the line, the remaining 5x new Reward Levels (as well as all accompanying sub-Levels) will be introduced.
• Enhanced Reward Caps: The amount of PLU you stack will now increase your Rewards Cap. For example, stacking 100 PLU will add an extra +£/€100 to your Rewards Cap, in addition to any Cap gained from subscription plans or redemptions.

6) What is the timeline for development of the release of the white paper plans?

On 1st August, Plutus will implement the first stage of the white paper as outlined in question 5.

The remaining White Paper features and utility will be rolled out incrementally, with the goal of completing all listed items in 2025. A more comprehensive roadmap will be available in August. 

7) What important dates should I be aware of this week?

It's a busy week for Plutus customers. To make life easier, here's a breakdown of the key dates for you to keep in mind:

Saturday, 27th July, 20:00 BST: Simplified White Paper Released
‍Saturday, 27th July, 20:00 BST: Vote Begins
‍Sunday, 28th July, 17: 00 BST: Community AMA
‍Wednesday, 31st July, 14:00 BST: Vote Ends - Voting Extended!
‍Thursday, 1st August, 17:00 BST: Reward Level Upgrades (Dependent on Vote)

8) What are the voting details and criteria for the White Paper?

For full details regarding the vote, please refer to this article.

CRY Questions

9) Can you share some examples on how CRY% is calculated?

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10) Is CRY% applied to both internal and external (connected wallet) PLU balance?

We aim for CRY% to be applied to your Total Stacked PLU balance, which includes both your internal PLU and any PLU held in an external wallet. However, the exact implementation will depend on the technical feasibility once fully scoped out. We can confirm that PLU in 'pending' status will be excluded from CRY calculations.

11) How does the CRY% and the multiplier work?

In Year 1, you receive a 1x multiplier on your CRY% rewards. In Year 2, this increases to a 2x multiplier, and so on, up to a maximum of 5x. Each year's multiplier is applied to your CRY% rewards and added to your total rewards. Please refer to this image for examples.

12) How will withdrawing PLU from my internal balance to an external connected wallet impact the yearly multiplier?

We will ensure that customers will not be penalised for actioning a PLU payout to their personal wallet. Self-custody is a core value of Plutus, and we want to empower customers to truly own their rewards. You can action a PLU payout to your personal crypto wallet without it impacting your yearly multiplier.

Reward Questions

14) What happens if there is a bank run on utilities?

If there is a bank run on utilities, it will actually have a positive impact on revenue for Plutus.

Metal Card Members

15) I purchased a Metal Card, and now my Reward Level has been downgraded due to a change in PLU Requirements?

All Plutus members, including Metal Card holders, are subject to the updated PLU requirements to ensure long-term sustainability and value for all. While your Reward Level might have changed, the core benefits of the Metal Card remain intact, offering exceptional value-for-money. We are committed to continuously enhancing your experience and delivering high value for your membership.

General

16) Are the quantities for double reward vouchers, rewards on direct debits, and golden tickets linked to my Reward Level on a monthly or annual basis?

Monthly! These benefits renew each month. For example, if you are on the Noob Reward Level and eligible for 1x Golden Ticket, you can use 1x Golden Ticket each month as long as you remain on the Noob Reward Level. PLU Payouts are the only benefit that are renewed annually.

Appendix: Development Disclosure‍

The values, features, and objectives in this white paper are confirmed at publication. However, Plutus acknowledges that development plans may evolve over time in response to technological advancements, regulatory requirements, or other factors. Any changes to the roadmap will be transparently communicated to the community to gather feedback on new directions. Despite potential modifications, our commitment to enhancing sustainability, intrinsic value, and usability within the Plutus ecosystem remains unwavering.