@DDhopn You're either going to stop external payouts and move to internal, or you have a proposed model that makes no sense and will fail.

@DDhopn You cant claim 1 PLU (new token) = £10, if it will also have an external price, nor can you payout in the old token because once supply is bought your left with the same problem.

@DDhopn If a £100 spend drops our reward from 3 PLU to 0.3 PLU on this new token, and payouts are also on new token, how much do users get — 0.3 or 3 PLU in external ? —and also how is this not affected by external selling pressure?

@DDhopn Guess the truth comes out @DDhopn @plutus

@DDhopn Oops.

@PlutusFans Did Danial purchase this account of you?

those 20 PLU you earn are anchored at £/€10 only for in-app usage (gift cards, travel, etc.). You can’t swap them for £/€200 in fiat. Plus, to redeem that ‘£/€10 value,’ you have to pay the rest in fiat (e.g., paying £90 + 1 PLU for a £100 gift card). So it’s not pure cash — more like a loyalty discount that still requires extra spending.

And just to let you know I appreciate the push toward sustainability — anchoring PLU at £10 inside the app and encouraging loyalty usage. But there’s a real snag for customers who pay for Premium, stack 1,000+ PLU, and get ‘Chad’ benefits: they might earn around ~7.5 PLU/month, which looks like £75 in “loyalty” value. Great — until you realise they must spend £675–£750 on gift cards just to claim that full discount, not to mention subscription fees and merchant limits. The changes might be good long-term for the company, but this highlights why some ‘RL’ users are frustrated: the real monthly benefit is way more complicated.

I hear you on the original 2015 WP, but for years the app and marketing (even in the App Store) strongly implied a ‘cash-like’ reward model—very different from pure loyalty points. Many users didn’t ‘abuse’ the system; they simply followed what was clearly promoted at the time. I’m glad you’re clarifying everything now, but let’s acknowledge the recent discrepancy between how PLU was presented in everyday usage vs. how it was technically defined back in 2015. Loyalty token or not, the current pivot still feels like a big shift from what many of us were led to expect—especially those paying monthly subscriptions and hoping to convert PLU at a fair real-world rate.

So yes, good on Plutus for building and delivering features. But let’s not pretend we’re clueless about the mismatch between in-app ‘loyalty’ numbers and actual market value. If you want to shift behavior, be transparent that the real yield for external conversions is drastically lower — so folks know exactly what they’re getting.

@DDhopn If your pivot truly benefits ‘all users’—not just the top 5%—then address how everyday users can actually get close to the promised percentages in real-world (fiat) terms. Right now, the math says ~0.5% instead of 4% if market price stays low. That’s the heart of the complaint.

@DDhopn You cite EY’s model and upcoming open-source verification—fine, but that doesn’t undo the reality: People spent big on PLU (and subscriptions) expecting near-cash-like rewards. Now they’re told, ‘It was never cashback, so tough luck if you do the external conversion math.’

Dynamic fees? It’s great they might drop in Q2, but if someone’s already paying subscription costs while getting a fraction of the nominal % in fiat value, that’s a huge disconnect. And no, ‘absorbing’ gas fees in the past doesn’t negate the current user experience of net-negative returns.

Calling it ‘not cashback’ doesn’t magically fix the math. If I spend €5K at 4% but only get 20 PLU (anchored at €10) while the external price is €1.25, that’s effectively ~0.5% in real fiat—not 4%. I get the loyalty-token angle, but some of us care about external value. Where’s the error?