[ANN] Plutus [PLU] — Earn 3% Back in Crypto on Every Debit Card Payment

[Geenstijl]

There are 850,000 PLU in circulation but a total supply of 20,000,000 PLU. When/how will they be released, as a newbie I don't understand ...

The remaining 19.000.000 are stuck in an Ethereum Smart contract that will be the funding source for the reward system. The system is completely explained in the whitepaper chapter 2.4.1.
https://plutus.it/assets/Plutus.it-White-Paper-v1.1.pdf

So the remaining tokens are not yet in circulation. They will be rewarded to people who use the DEX or Tap 'n Pay app to exchange FIAT for Bitcoin or Ethereum. The expectation is that the smart contract will be empty by the year 2150 or something. People are only getting as many PLU as high as the exchange fees on the DEX. This way the exchange will basically be free. Which makes it attractive to use.

[FandangledGizmo]

Everyone says how low market cap of PLU is, but all I see is 340,000,000 million cap at the moment. What am I missing?

That's like looking at ZeroCash with a circulating supply of 2 million and a market cap of $600 million & saying 'but all I see is a $6.5 billion cap' (ZEC will have a total supply of 21 million)

Unlike BTC/ZEC/Other where inflation is largely wasted on miners to reach an eventual supply of circa 20 million, PLU inflation is given as a very small rebate to potential PLU users and adopters, so the inflation is essentially a marketing tool. As PLU is faster and has no/low fees, many BTC/other users will choose to do all their transactions in PLU and it only requires a small conversion of customers to create high net new demand.

It will be interesting to see how it works in practice.

[musicmate]

Everyone says how low market cap of PLU is, but all I see is 340,000,000 million cap at the moment. What am I missing?

You can't take those coins that are not circulation to calculate the market cap because those coins are will be used to create value in the future, unless you can tell what value comes out those coins, it's pointless adding them.

It work's the same as shares in stock market, when a company is just listed/IPO , they have shares locked away till it meets milestones, once the milestone is meet, the shares get issued and added to the market cap.

That 20 mill coins will be slowly released as demand builds.

Tap & Go  is the future.. but PLU are not just Tap & Go, they are also a platform exchange between fait & Crypto ..


Watch this space

    

[_Victory_]

Is this project dead?
I emailed support 3 times last week.
I got no reply. I am trying to get my payout address changed.
But they do not respond to email.
I am wondering if they dropped this project.

[MrPuffnStuff]

Is this project dead?
I emailed support 3 times last week.
I got no reply. I am trying to get my payout address changed.
But they do not respond to email.
I am wondering if they dropped this project.

Why do people ask questions like this on ann pages when it's so easy to find out for yourself the project is very much ongoing, I'll refer to one of their later blog posts:

https://medium.com/plutus-it/engineering-plutus-new-improved-cb2bbdc2a3fb

[_Victory_]

People ask questions like this when they invest in their project, then have thier emails ignored.

[cooperkernan]

People ask questions like this when they invest in their project, then have thier emails ignored.

True!

[Pizpie]

Is this project dead?
I emailed support 3 times last week.
I got no reply. I am trying to get my payout address changed.
But they do not respond to email.
I am wondering if they dropped this project.

Join their Slack - Dev team active and responsive there: http://slack.plutus.it/

[MrPuffnStuff]

People ask questions like this when they invest in their project, then have thier emails ignored.

True!

Still, the project is obviously not dead and have given updates in the past week, they just haven't responded to your e-mail.  I would try their slack...

[bob75coin]

People ask questions like this when they invest in their project, then have thier emails ignored.

True!

Still, the project is obviously not dead and have given updates in the past week, they just haven't responded to your e-mail.  I would try their slack...

I will try slack but this is an official thread so they could put some news here sometime.

[MrPuffnStuff]

People ask questions like this when they invest in their project, then have thier emails ignored.

True!

Still, the project is obviously not dead and have given updates in the past week, they just haven't responded to your e-mail.  I would try their slack...

I will try slack but this is an official thread so they could put some news here sometime.

Agreed, they've been relatively quiet in their communication to investors/prospective investors, I'm just being positive and assuming it's due to them cranking out a killer product

[holdem]

well these devs dont care about investors, they are "too busy to let product out" (that is late for about a year???)

[PLUTUSit]

The PlutusDEX BETA Development Update is here! The FAQ blog from Slack and DM questions will follow very soon

https://twitter.com/PlutusIT/status/905511699565993985

Please retweet and share.

[GTTIGER]

The PlutusDEX BETA Development Update is here! The FAQ blog from Slack and DM questions will follow very soon

https://twitter.com/PlutusIT/status/905511699565993985

Please retweet and share.

Awesome stuff, this is a hidden gem.

[PLUTUSit]

And it's a two for one, as the Plutus FAQ (Frequently Asked Questions) blog has also gone LIVE! Learn everything you've wanted to know about your favorite payments crypto.

https://twitter.com/PlutusIT/status/905511699565993985

Please retweet and share. And if you have any more questions, send them over and they'll be included in the next update of the FAQ blog. If you are interested in the technical aspects of Plutus instead, our CTO Martin Szyllo is hosting a regular short AMA. For more details, take a look at our FAQ blog above.

[wgd]

PLUTUSit all good, I was with you from the beginning unfortunately sold before growth. It all takes too long the market needed a pluton at the beginning of the year when the crypto hype started. sad

[PLUTUSit]

FAQ summary by a reddit user: https://www.reddit.com/r/plutus/comments/6yumok/official_plutus_plutusdex_faq/

[george_crypto]

Thanks @PLUTUSit for these great updates.
Good to see things are moving and getting closer to success 

[PLUTUSit]

Thanks @PLUTUSit for these great updates.
Good to see things are moving and getting closer to success 

Thank you!

Please join the PlutusDEX beta and give us your feedback.

Beta Ann: https://twitter.com/PlutusIT/status/907241746567921664

Waiting list: https://beta.plutus.it

[MrPuffnStuff]

Price still getting hammered, guess I'll have to buy more

Excited to test the beta as well!