What is Pluton (PLU)?
Pluton (PLU) is the native token of Plutus – a company that seeks to bridge the gap between cryptocurrency and traditional payment structures. Care to see the live PLU price? Take a look at the Pluton price chart above.
Plutus was founded by Danial Daychopan in December 2015. Together with Jasper Tay as co-founder and a team of experienced minds in finance and cryptocurrencies, they created the Plutus Decentralized Exchange Network (PlutusDEX).
Plutus was created as a mechanism to encourage the adoption of cryptocurrency by merchants – store owners, restaurants, shopping malls, and others. One thing that made it hard for these merchants to accept Bitcoin and other forms of cryptocurrencies as payment was the lack of payment terminals for them. This also made it hard for users to spend their cryptos.
Plutus makes use of the Ethereum blockchain to build smart contracts that support the peer-to-peer (P2P) exchange of money securely and transparently. The Plutus decentralized exchange makes it possible for users to convert their crypto assets into a prepaid debit balance that they can then spend in stores.
Plutus provides its users with a debit card linked to their crypto wallets and with the PlutusDEX mechanism, which allows them to spend from their crypto balances directly in stores.
Use Cases of PLU Tokens
Pluton token is referred to as one of the first decentralized loyalty reward tokens to exist. Holders of PLU tokens earn rewards when they use their Plutus card or stake their PLU tokens on the platform.
Anytime a user utilizes their Plutus card, or the tap-and-pay Plutus application, they get rewarded in PLU crypto tokens. The great thing about this is that it is not restricted to one merchant or store. Users can get rewards anytime or anywhere they use their Plutus card.
In terms of staking PLU tokens, apart from earning more tokens, users can also earn additional rewards and perks. These perks include free subscriptions to streaming platforms such as Netflix, Spotify, Disney+, and others, or gift cards and discounts at stores like ASOS, eBay, Starbucks, Uber, Tesco, and many more.
Besides that, Plutus cards have different plans with different subscription fees (except for the starter plan). Apart from the free starter plan, there are two other plans – Everyday and Premium. The fees for these plans can be covered using PLU tokens.
If you're planning to buy Pluton coins, don't forget to check the PLU price chart above. It features both – the current and the previous Pluton price.
PLU Tokenomics
The maximum supply of PLU tokens is 20 million PLU. At the point of initial distribution, only 4.25% of the tokens were made available. This was done to eliminate the inflation of the PLU token price and reserve most of the coins for the valuable use cases that are available. Because Pluton is a reward token, most of the tokens are locked away in a smart contract. This smart contract gives out rewards to everyday users of Plutus cards based on their subscription plans or staking categories.
