Pluton (PLU) is the native reward token of the Plutus financial ecosystem, designed to integrate web3 technologies into daily transactions. It is a decentralised ERC20 token on the Ethereum blockchain, serving as a reward mechanism for transactions made with the Plutus Visa debit card.
Pluton is hosted on the Ethereum blockchain and functions as an ERC20 token. It utilises smart contracts to ensure secure and automated transactions without intermediaries. PLU can be used to unlock perks and increase reward rates and can be converted to fiat currency. Users earn Pluton through transactions made with the Plutus Visa debit card.
Potential use cases for Pluton include:
Pluton supports retail, travel, and finance industries and involves notable partnerships for Air Miles redemption and retail discounts.
Pluton was founded by Danial Daychopan in December 2015, with co-founder Jasper Tay. Initially conceived to address the lack of real-world utility for cryptocurrencies, Plutus adopted ERC20 technology in 2015 after discussions with the Ethereum team. Pluton was launched in 2016 as a decentralised loyalty rewards token. Over the years, Plutus has developed features like PlutusDEX, a decentralised exchange, and introduced a loyalty-driven debit card. As of now, it serves over 125,000 customers, with a significant market presence and a total reward value crossing £50 million.