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No whitepaper found

Pluton

PLU · Plutus

UtilityLoyalty and rewards token for the Plutus finance app.

What it is

Pluton (PLU) is the rewards token of Plutus, a UK/EU fintech whose 2015 whitepaper by founder Danial Daychopan introduced the concept of tokenised loyalty rewards — and is the first recorded document to coin the term 'DEX' for its non-custodial crypto-to-fiat exchange, PlutusDEX. Cardholders earned PLU as cashback on real-world spending via the Plutus Card.

Technology & consensus

PLU is an ERC-20 token on Ethereum issued from a fixed 20,000,000 PLU rewards pool minted in 2016. After the 11th and final reconciliation of the rewards pool (audited with a UK-regulated chartered accountant), 3,000,000 PLU were burned between May and July 2025, reducing total supply to 17 million.

Token utility

PLU functions as tokenised loyalty: earned as in-app rewards on card spend (about 58M in customer savings delivered since inception) and convertible within the Plutus ecosystem. A newer PLUS token on Base now handles in-app points conversion, with PLU remaining the legacy rewards asset.

Key risks & notes

Status: no_whitepaper_found — the 2015 whitepaper exists but could not be fetched during this session; summary grounded in Plutus's official announcements and MiCA filings. The rewards pool is now closed (no new PLU issuance for rewards), so value depends on the Plutus business and secondary markets; fintech regulatory risk applies.

Primary source

No whitepaper found. The summary below is drawn from the project’s official documentation, site, or repository instead — the substitution is disclosed, not hidden.

Research status

Classification: No whitepaper found · Researched · Source material: official project documents only.

Machine-readable summary →

👁️ Evidence dossier

Verification classClass BFORA-01 scale — verification, not a quality ranking
Claim type · Utility token — loyalty/rewards token (corrected: it is a rewards token, not a gas token)
What does the holder own?

Title, redemption claim, fractional ownership, reserve exposure — or just narrative.

PLU (Pluton) is a loyalty rewards token issued by fintech Plutus: users earn 3–8% crypto rewards in PLU on purchases made with the Plutus Visa debit card, and staking PLU unlocks higher reward tiers plus in-app Perks (e.g. Netflix, Spotify, Prime). PLU carries a fiat value and can be swapped for fiat.

high confidence

Evidence: [1] · [2]

Verified
Who holds the underlying?

Needs an identifiable custodian or entity — not a wallet address or a label.

PLU is not backed by an external asset, but rewards were drawn from a dedicated issuer-held Rewards Pool (originally 20M PLU). In April 2025 Plutus completed the 11th and final reconciliation of that pool with UK chartered accountants Haggards & Crowthers and burned the remainder — so the original pool no longer backs new issuance; future rewards move to the new PLUS system on Base.

medium confidence

Evidence: [1] · [2]

Partially verified
How are reserves checked?

Custodian records → inventory → third-party audit → supply reconciliation.

The Rewards Pool underwent 11 independent reconciliations with Haggards & Crowthers (final: April 2025), and the final 3M PLU burn (May–July 2025) reduced total supply from 20M to 17M. Current treasury holdings are not publicly attested — so 'reserves' are partially but not fully checked.

medium confidence

Evidence: [1]

Partially verified
How does redemption work?

Eligibility, minimums, fees, KYC, settlement — and what happens to the token.

No formal issuer redemption right was found. Holders can convert PLU to fiat via the in-app PlutusDEX swap — that is a market swap, not redemption by the issuer. PLU is spent/swapped, not redeemable at a fixed claim.

medium confidence

Evidence: [1] · [2]

Partially verified
Who is liable if redemption fails?

A legally accountable entity and jurisdiction — not a DAO label.

Plutus is a London-based fintech founded 2015 by Danial Daychopan and Jasper Tay (banking partner Modulr); the precise incorporated issuer entity behind the PLU token was not confirmed in sources reviewed. The company is real and identifiable, but its formal token-side obligations are thinly documented.

medium confidence

Evidence: [1] · [2]

Partially verified

❔ UNVERIFIED means not yet researched — not disproven. Rows marked “researched” were investigated and independent evidence was not found. Coverage expands as FORTUNA verifies. This dossier was researched 2026-09-15. Method: FORA-01 Asset Claim Verification Protocol.

❔ Frequently asked questions

What is Pluton (PLU)?

Pluton (PLU) is the rewards token of Plutus, a UK/EU fintech whose 2015 whitepaper by founder Danial Daychopan introduced the concept of tokenised loyalty rewards — and is the first recorded document to coin the term 'DEX' for its non-custodial crypto-to-fiat exchange, PlutusDEX. Cardholders earned PLU as cashback on real-world spending via the Plutus Card.

What does the holder own?

PLU (Pluton) is a loyalty rewards token issued by fintech Plutus: users earn 3–8% crypto rewards in PLU on purchases made with the Plutus Visa debit card, and staking PLU unlocks higher reward tiers plus in-app Perks (e.g. Netflix, Spotify, Prime). PLU carries a fiat value and can be swapped for fiat.

What is Pluton's verification status?

Pluton (PLU) carries verification class B (Class B): a mix of VERIFIED and PARTIALLY VERIFIED with no UNVERIFIED and no CONTRADICTED findings. What would change it: Independent evidence closing the partially verified gaps would move it to Class A.

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