I've taken part to the plutus token sale, and as many other investors I've been convinced by your promise to rebuy the tokens at a 8$ price floor, as stated here:
https://medium.com/plutus/plip-exchange-listing-sale-schedule-2774e4af52b0But AFTER the sale you changed the rules by introducing a 30$ daily swap limit, as stated here:
https://medium.com/plutus/important-update-plu-fiat-limits-f7c3bc5865b5It could sound reasonable * to some extent * , but there is a little catch: exorbitant ETH gas fees make it in the practice impossible to change a little amount as 30$ without actually losing money.
As a result I cannot take advantage of the 8$ price floor guarantee. I don't really care for the few hundred bucks difference it would make it in my case, but by principle I don't like such a trick in an otherwise great project.
Hey!
Thanks for getting involved in the token sale, we appreciate your support!
The price floor which accompanied, and preceded, the token sale was not, and should not be construed as, a guaranteed buyback. It's a way in which our token sale participants, and the wider range of Pluton holders, can convert their PLU at the same price of the token sale, within our daily and monthly limits, to fund their Plutus Debit Card and spend anywhere VISA is accepted.
On the topic of daily conversion limits; these were necessary to implement as if we allowed arbitrage trading to go on unchecked with PLU on its native platform, then we open the gates for a plethora of legal and regulatory issues when it comes to how the aforementioned bodies view PLU. This could seriously impact our ability to deliver our full range of products and services.
Fundamentally, Pluton (PLU) is a utility token that serves to unlock a range of benefits in the Plutus ecosystem. Its utility is growing every day and is currently at the highest it's been.
We have no control over gas fees, as I'm sure you're aware, and understand they can be quite a barrier to accessing our services. We're responding to this with the addition of a new blockchain that promises lower fees and faster transactions. Check out our end of year blog
here.
A Q1 roadmap is en route, so keep an eye out for that, too!
Feel free to come along and join us over on
Discord or
Telegram to speak to me, the team, and the community directly.
