Introducing PLUS More on Base: A Fresh Start for Tokenized Incentive Awards by Plutus
Unleashing a New Age of Loyalty Rewards: Plutus Launches PLUS More on Base
Hey there! Let's dive into the world of FinTech and blockchain as we discuss the latest news from Plutus. They've just dropped PLUS More, a groundbreaking on-chain rewards system, marking a major leap in the tokenization of loyalty rewards.
Plutus, a pioneer in this field, made its debut in 2015 as the first to tokenize real-world assets through on-chain loyalty rewards using Pluton (PLU). Since then, they've been providing on-chain utility and have doled out more than $58 million in in-app savings.
But what's new? Enter PLUS More, designed especially for PLU stackers who want to maximize their savings while spending with the Plutus Card. Built on Base—an Ethereum layer-two incubated by Coinbase— this innovative rewards system pushes traditional rewards into the open, decentralized realm of DeFi (decentralized finance).
PLUS More isn't just another rewards system; it's a movement. It's all about shifting power from corporations to consumers, from closed ecosystems to open infrastructure, and replacing forgettable points with tokens meant for practical use.
Traditional loyalty systems have been fragmented, hard to track, and almost impossible to transfer. They're a mess. PLUS More redefines loyalty by transforming these outdated models into interoperable, self-custodied tokens, usable across the Plutus app and beyond.
So, how does it work? Plutus Card customers in the UK and EU will soon be able to tokenize their rewards in-app and request payouts on the Base network, subject to relevant licensing approval, which is currently underway. Once licensed under MiCA and the UK FCA, PLUS token holders will also access a growing marketplace of partner perks, travel discounts, and digital gift cards, all powered by smart contracts on Base.
There's more! A new on-chain network fee, dubbed FUEL, will launch alongside the PLUS token. This fee aims to keep the system sustainable over time by recycling rewards back to customers instead of minting new tokens.
Curious? Click here for the full scoop on PLUS More.
Plutus isn't holding back. From launching the first tokenized loyalty rewards a decade ago to pioneering scalable rewards infrastructure across the UK and EU, they're primed to push forward. With a sustainable loyalty system for everyday use, FUEL, and RaaS (rewards-as-a-service), Plutus is ready for expansion, potentially even a US launch.
Through RaaS, businesses can connect to the PLUS More network and launch their own branded loyalty programs, driving growth while giving their customers more control and practical value from their rewards. And guess what? It's all built on Base.
For even more insights, check out Danial Daychopan, founder and CEO of Plutus.
Stay tuned for updates on PLUS More's development. The PLUS More network is live on Base, with rewards currently issued as in-app points and not yet available on-chain, as tokens remain non-transferable. Distribution to eligible Plutus cardholders will begin once licensing approval is granted. Additional features, including expanded RaaS capabilities for brand partners, are under development and will be launched once licensing is secured. Visit here for the latest information.
That's all, folks! We'll keep you posted on Plutus' journey as they reshape the world of everyday spending.
Catch us on Telegram, Facebook, or X for more updates on finance, bitcoin, ethereum, trading, and web 3.
Source: The Daily Hodl
Enrichment Insights:- Current Development: PLUS More has gone live on Base, offering enhanced savings through the Plutus Card. It aims to transit traditional rewards into the decentralized world of DeFi, allowing consumers to have better control of their loyalty rewards.- Future Plans: With its focus on decentralization and interoperability, future plans may involve partnering with other DeFi platforms to increase the utility and reach of PLUS More tokens. Securing necessary approvals, expanding, and increasing consumer adoption may also be part of their future strategy.
This groundbreaking on-chain rewards system, PLUS More, built on the Ethereum layer-two network Base, is not just a reward system but a movement towards decentralized finance (DeFi). It aims to transform traditional loyalty rewards into interoperable, self-custodiedtokens, utilizable across the Plutus app and beyond, making crypto-friendlyaltcoins a practical part of everyday finance. Furthermore, Plutus plans to expand its reach, potentially even launching in the US, and offer rewards-as-a-service (RaaS) to businesses, enabling them to connect to the PLUS More network and create their own branded loyalty programs.
