Rewards Pool | Final Balance Reconciliation (#11)
Between 1st July 2024 and 8th April 2025, Plutus cardholders spent approximately $190M (equivalent in their local currencies) and earned around $13.78M in equivalent tangible savings through in-app PLU rewards. Following 25th April 2025, Plutus will reconcile these rewards and transfer tokens from the Pluton Rewards Pool to account for loyalty rewards distributed to customers and to fund payouts for those stacking in self-custody wallets.
The Reconciliation
Between 1st July 2024 and 8th April 2025, customers earned exactly 6,128,064.09 PLU for rewards and perks.
Plutus will now reconcile the balance of 6,128,064.09 PLU and make a partial transfer of 1,606,887 PLU out of the Pluton Rewards Pool to the Plutus Treasury Wallet and allocated for payouts. The remaining balance from the final reconciliation will be transferred periodically, subject to ongoing payout needs or evolving business requirements.
Transparency Measures
Since the card transactions are proprietary, including data from our banking service providers, we are legally bound not to reveal the transaction details publicly.
Therefore, we have appointed our UK accountant, Haggards Crowther, to confirm that the transfer of PLU is supported by the proprietary transaction data.
See Verification from Haggards Crowther >
Plutus is working with such third parties (accountancy, legal, and self-custody firms) to uphold the integrity of the Rewards Pool that has powered our ecosystem.
FAQ
Can You Explain the Background Context?
Plutus customers earn PLU from spending; this is emitted from the Pluton Rewards Pool. As this remains locked in cold storage, the amount of PLU awarded to customers has to be reconciled onto a Corporate hot wallet to be distributed.
Why does Plutus use a Corporate hot-wallet to Issue Rewards to Customers?
The 2015 whitepaper outlines the use of a smart contract to distribute rewards from the Pluton Rewards Pool. However, given smart contract technology’s infancy with ongoing exploits, Plutus opted for a centralised solution to ensure the security and longevity of Pluton Rewards.
Why Are We Using A Third Party?
Since 2015, Plutus has been an innovation leader, introducing services like the world’s first crypto on-chain rewards token, paving the way for emulation. We're committed to enhancing accountability and eliminating single points of failure.
Who Are Haggards Crowther?
Haggards Crowther is a highly accredited firm of certified Chartered Accountants based in London. They are certified by the Institute of Chartered Accountants in England and Wales (ICAEW).
We want to continue setting a precedent by verifying reward-related transactions with ICAEW-certified third-party accountants to help maintain trust and transparency. It is rare for private crypto companies to take such steps, so we are proud to be one of the first.
When is the PLU burn for the Dual Token Upgrade?
The burn schedule will be released in April, following the final reconciliation.
Is This The First Pluton Reconciliation?
This is the 11th and final Pluton Reconciliation. Full details of others:
