30s Summary

Plutus is a rewards platform using Web3 to offer a flexible and rewarding user experience. It offers a Visa-powered debit card where users can earn 3% rewards on purchases and non-custodial payouts. Plutus plans to boost rewards to 10% using the FUEL system and offer more benefits via its native token, PLU, which can be exchanged for cashbacks, discounts and gift cards. The platform has been testified as robust by Ernst & Young, with an updated report expected in December. Plutus aims to provide a transparent, flexible and real-world applicable model in the loyalty rewards industry.

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Meet Plutus, a rewards platform that’s taking advantage of the Web3 space to give users a more flexible and rewarding experience. You know those traditional reward cards you have sitting in your wallet? Yeah, they’re good but they’ve got their limitations. For example, traditional credit cards only give about 1% cashback and that’s even with the high interest rates. And things like Air Miles? They aren’t all cracks up to be, especially when you can only use them for specific brands or flights.

Well, here’s where Plutus changes the game. Being founded in 2015 by Danial Daychopan, who jumped into the crypto scene in 2012, Plutus has already given out over £20 million through its Visa-powered debit card. Users can earn 3% rewards on every purchase, with banking-like features for a low monthly subscription. Plus, unlike most crypto cards which lock up your assets, Plutus provides non-custodial payouts. So, you have full control and transparency over your earnings.

Moving forward, Plutus plans to increase rewards up to 10% by using the innovative FUEL system. This basically takes a small fee from rewards transferred across the network and gives it back to the customers. Pretty cool, huh? And with the Plutus native token, PLU, you can also get more real-world benefits. From November 30, you can exchange 1 PLU for £/€10 gift cards from popular brands, cashbacks, and discounts on travel bookings.

Plutus is all about giving you more for what you already do—shopping, banking, or watching Netflix. Plus, it’s offering an attractive way for mainstream consumers to get into the crypto space without the complexities. The platform is doing this by tokenizing your everyday rewards, giving you up to £/€10 monthly in PLU for doing things like shopping or getting subscriptions from over 50 major services.

Is this sustainable? Well, Plutus enlisted one of the “Big Four” accounting firms, Ernst & Young, to do an analysis. And yes, it’s robust. While some parts are still under review, an updated report is expected in December. To reassure the community about scalability, management is re-validating the business model and will share the report publicly.

Don’t worry about Plutus revealing proprietary data. In the words of founder Daniel Daychopan, “When others replicate, it encourages us to innovate and leave them behind.” Plus, to ensure stability in the token value, a £/€10 Anchor is being introduced to maintain the minimum PLU value earned in the app.

Talk about revolutionizing loyalty rewards! With transparency, flexibility, and real-world benefits, Plutus is setting the bar high in the blockchain age. Discover more about Plutus and get ahead in the game now. (Disclaimer: Always do independent research and bear full responsibility for your decisions. This article is not investment advice.)