Servizi
Plutus Completes Historic Final Reconciliation of PLU Rewards Pool and Announces Burn Schedule
In the final reconciliation period between July 2024 and
April 2025 , Plutus cardholders collectively spent approximately
(equivalent in local currencies), earning
in savings through in-app PLU rewards. This brings the total all-time spend eligible for rewards to
, out of approximately spent with the Plutus Card, delivering an estimated
in in-app savings to customers since inception.
These milestones are built on the groundbreaking 2015 whitepaper written by Plutus Founder
Danial Daychopan . The paper introduced the concept of tokenised loyalty rewards and is also the first recorded document to coin the term "DEX" to describe PlutusDEX, a one-of-a-kind non-custodial crypto-to-fiat exchange, facilitating up to $50 million value in swaps for card top-ups over five years.
Following the reconciliation of all eligible rewards, remains from the original . This amount will be burned alongside from the Plutus Treasury, bringing the total burn to starting on , and reducing the total supply from by .
Further token burns are scheduled in the coming quarters, aiming to reduce the total supply to , with the final burn expected on , subject to confirmation. The approach highlights Plutus' commitment to creating a sustainable, efficient, and transparent reward system.
– Danial Daychopan, Founder & CEO of Plutus.
The PLU burn marks the end of PLU emissions and is part of Plutus' shift to a dual-token system. Going forward, only the PLU that customers have already earned will be available for stacking to unlock savings and rewards in the app via connected wallets, with no new PLU being issued. Meanwhile, this will be replaced by a new Dynamic Rewards system, that offers instant, redeemable rewards within the app.
This strategic shift creates a clear distinction between external stacking and redeemable rewards earned in-app, ensuring greater clarity, and consistent savings for Plutus customers.
Plutus is a pioneer in tokenising real-world assets (RWA) and the creator of tokenised rewards, first introduced in 2015 during the early days of blockchain technology. By bridging traditional finance with decentralised systems, Plutus laid the foundation for the tokenisation that followed. Today, Plutus continues to innovate, offering seamless on-chain loyalty rewards, with approximately $1 billion in value spent through the Plutus Card, delivering $58 million worth of real-world savings via the Plutus app. Plutus now leads fintech innovation, empowering customers with unmatched savings and shaping the future of everyday card spending through a sustainable, utility-driven on-chain rewards system.
Photo - https://mma.prnewswire.com/media/2677133/Plutus_Rewards.jpg
Logo - https://mma.prnewswire.com/media/2677132/Plutus_Logo.jpg
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/plutus-completes-historic-final-reconciliation-of-plu-rewards-pool-and-announces-burn-schedule-302442980.html