So, you've earned yourself some PLU for spending with your Plutus Debit Card, that's awesome! You'll now be able to withdraw your validly earned PLU to your personal external wallet or, alternatively, convert it to fiat instantly and securely on the PlutusDEX.
How does it work?
If you have valid PLU to withdraw on your dashboard the button will then turn blue. Once the withdraw button goes blue again you will be able to submit a request for withdrawal, which will then be processed on the coming Thursday.
If you miss the cut off then don't worry, you can still submit and receive your rewards the week after.
Please note: Validly earned PLU becomes available for withdrawal 45 days after the payment to prevent abuse of the rewards programme (e.g. returned items).
You should be able to view what you have earned and what is in your balance on both the web and mobile application.
How do I withdraw my PLU?
On the web dashboard, just head to the Pluton tab. If the withdrawal button is blue, this means you have PLU available for withdrawal (in this case 0.43PLU). Click on the withdraw button.
Enter the amount of PLU you want to withdraw to your personal wallet. Your withdrawal will then be processed the following Thursday.
How do I convert my PLU to fiat?
In the 'Pluton' tab, hit 'Sell'. Enter the amount of PLU you wish to convert, in addition to the location you wish the fiat to be deposited to (card or account).
Why can’t I withdraw my PLU immediately?
We have placed a safety check of 45 days in the withdrawal process. This is to prevent abuse of the system (returned items etc). We are looking to shorten this time frame over time.
What is the difference between Earned balance and Available balance?
Earned Balance: This is the balance of PLU earned from valid card transaction
Available Balance: Validly earned PLU becomes available for withdrawal 45 days after the payment to prevent abuse of the rewards programme (e.g. returned items). Occasionally, some transactions may be flagged for review by our compliance team.
Why is there a monthly cap on PLU conversion?
You can swap a maximum of £/€100 worth of PLU per month on the platform, this is due to the low liquidity in our early days which is growing rapidly, since the release we have seen over a million in transaction volume to fund the Plutus Card.
The limits are temporary and will be raised periodically until it is completely removed so you can enjoy redeeming all your rewards with your Plutus card in any store of your choice (and in turn earn even more crypto as rewards for purchases