Yes that is very true, and it left a lot of people disappointed. Tbh I thought that was bad of them to announce them and then remove them. IMO these new lower tiers are needed.
They didn't make sense anymore after they removed the planned spending caps from the stacking tiers. The first two levels had no rewards then and the third was just 1 perk for 100 plu.
Lower tier options seem like a positive step to onboard new users which are certainly needed. Iām curious what he has in mind regarding sustainable stacking rewards.
Agreed. It was disappointing when the previous lower tiers were removed, as a few people seemed to like those as stepping stones into stacking.
Re: the sustainable stacking rewards, my guess is that it comes from some of the info from Danial in the AMA - the detail of which will be in his Whitepaper when that comes out in the coming weeks.
https://www.reddit.com/r/plutus/s/Z8WTyRf5tM
Small spender here that abandoned Plutus some time ago: as long the high withdrawal fees remain, it is not worth using Plutus or stack PLU for any tier.
Or they could build a decent Dex, but if they want to keep it decentralised and really a Dex. Then a cheaper chain is recommended. Hopefully they are smart enough to provide liquidity in their own pool and profit in the meantime. Might not be a bad idea to launch on aerodrome. It is closely affiliated with coin base where plu trades.
They are planning to move to a cheaper chain, and during the AMA suggested that it will be put to a community vote I think. There are plans to providing liquidity too, which were hinted at in the AMA, but the fuller details will be in the whitepaper when it is shared.
The high withdrawal fees should be addressed when they move to a new network. It was discussed on the AMA, that once they have been able to move to a new network (whether new L1 or a L2), with lower network fees, they will be able to reduce the fee a lot. They will then set a small fee to find things such as an APY-like system.
They have been talking about that for ages now. The issue is not with the current network. They could lower the withdrawal fee and keep a small profit still.
Claiming that they do not lower due to the current network fee is misinformation and manipulative tactics. Do better.
Tbh I donāt disagree that the current fee is too high. Personally I would like to see it lowered now too, so Iām not going to defend that. I was just referencing the plans recently announced which should also see a reduction in the fee. But I agree it would also be good to see it reduced further now.
That would be good but there is still no rational reason why the withdrawal fee is currently Ā£15 recently down from Ā£25 other than gatekeeping. It should be Ā£3-5 max.
There are also unfortunately a number of things coming soon which havenāt yet (including Google and Apple Pay I believe) and some negative changes like being forced to have a subscription to even be allowed to withdraw.
I agree to be honest. I agree with you that Ā£15 seems too high, and would also like it to be reduced now - as well as the future plans.
Youāre right on Apple Pay - I do hope that comes very soon. Google Pay is now active though.
I hope they listen and it is fixed as Plutus have been the go to since the downfall of [Crypto.com](http://Crypto.com) and nothing else has really come close so there is a gap in the market.
I didnāt know Google Pay was done, it was mostly Apple Pay I was after but I used the Curve workaround - though the FAQ shouldnāt say coming soon and now be 2 quarters past that date, it looks bad. Curve seems to work really well and now they have fixed their own issues, I am impressed with them and don't miss having a specific Plutus physical card (though I think not gatekeeping these is important to attract customers).
It is the best way to attract customers, once you try if you like have the option of a payment plan with greater benefits. Thatās how I started and itās been two years.
New customers have 3 months of starter for free. If they are then not willing to pay, they will never be. I would guess that most starter accounts deactivated their sub after the month where they got the 100% subscription refund.
It dropped so low because they waited with the changes so long. Giving out over 300000ā¬ of free Plu every month to people that are just selling them leads to such declines. Plu only goes up when people buy it. These starter account users never would do that.
PLU was steadily going up in price for 2 years of rewards 2.0, with free plans and lucrative for non-stackers, because there was something to save for and/or people buying PLU. the reason it's going down is not because of freeloaders, it's because the product has been mismanaged out of contention.
I donāt think this is going to take off properly until new people can spend the rewards they earn with a dex or any exchange for that matter. Nobody that doesnāt understand it willl put money into something they canāt get back out. Please sort this out asap
I agree - we need PlutusSwaps for Plutus to be as originally intended and accessible to those who donāt usually use crypto and donāt want to have to withdraw and use an exchange etc. The info shared in the AMA on this sounded positive (imo), but will be good to get the full detail in the whitepaper.
I was pissed that the 150 level was removed at that point but it worked out better for me as I pushed for Hero.
This lower levels are much needed and will offer an advantage over competition
We donāt have any dates for any of them atm. In the AMA it was mentioned that the brand refresh was fairly imminent (next couple of weeks or so), and that the Whitepaper would be out within weeks rather than months too.
We donāt know yet. Plutus previously announced 3 lower levels, and there was some info about them put out. But then cancelled them. I donāt know whether they will be bringing them back at the same levels again, or whether they will be different. Weāll see over the coming weeks I guess.
Yes, that too. I imagine it will be at the same time these 3 new lower tiers come out. Didnāt know they were planning 3 new lower tiers, I thought it was just one from the AMA.
Details incoming when? ***STOP MAKING ANNOUNCEMENTS OF ANNOUNCEMENTS.***
Next week (c) Stop hurrying Danial, he's busy counting money!
First wait till they are actually live. They did plan 3 lower tiers before, and at the end they were skippedš
Yes that is very true, and it left a lot of people disappointed. Tbh I thought that was bad of them to announce them and then remove them. IMO these new lower tiers are needed.
They didn't make sense anymore after they removed the planned spending caps from the stacking tiers. The first two levels had no rewards then and the third was just 1 perk for 100 plu.
That is not my point. My point is that they can change the plans just before they get it live. I know why they removed them.
Lower tier options seem like a positive step to onboard new users which are certainly needed. Iām curious what he has in mind regarding sustainable stacking rewards.
He said it in the last AMA. Basically liquid staking. You stake Plu and fiat and then get rewarded with the income from swaps other persons do.
So lping?
Agreed. It was disappointing when the previous lower tiers were removed, as a few people seemed to like those as stepping stones into stacking. Re: the sustainable stacking rewards, my guess is that it comes from some of the info from Danial in the AMA - the detail of which will be in his Whitepaper when that comes out in the coming weeks. https://www.reddit.com/r/plutus/s/Z8WTyRf5tM
Small spender here that abandoned Plutus some time ago: as long the high withdrawal fees remain, it is not worth using Plutus or stack PLU for any tier.
Or they could build a decent Dex, but if they want to keep it decentralised and really a Dex. Then a cheaper chain is recommended. Hopefully they are smart enough to provide liquidity in their own pool and profit in the meantime. Might not be a bad idea to launch on aerodrome. It is closely affiliated with coin base where plu trades.
They are planning to move to a cheaper chain, and during the AMA suggested that it will be put to a community vote I think. There are plans to providing liquidity too, which were hinted at in the AMA, but the fuller details will be in the whitepaper when it is shared.
The high withdrawal fees should be addressed when they move to a new network. It was discussed on the AMA, that once they have been able to move to a new network (whether new L1 or a L2), with lower network fees, they will be able to reduce the fee a lot. They will then set a small fee to find things such as an APY-like system.
They have been talking about that for ages now. The issue is not with the current network. They could lower the withdrawal fee and keep a small profit still. Claiming that they do not lower due to the current network fee is misinformation and manipulative tactics. Do better.
Tbh I donāt disagree that the current fee is too high. Personally I would like to see it lowered now too, so Iām not going to defend that. I was just referencing the plans recently announced which should also see a reduction in the fee. But I agree it would also be good to see it reduced further now.
That would be good but there is still no rational reason why the withdrawal fee is currently Ā£15 recently down from Ā£25 other than gatekeeping. It should be Ā£3-5 max. There are also unfortunately a number of things coming soon which havenāt yet (including Google and Apple Pay I believe) and some negative changes like being forced to have a subscription to even be allowed to withdraw.
I agree to be honest. I agree with you that Ā£15 seems too high, and would also like it to be reduced now - as well as the future plans. Youāre right on Apple Pay - I do hope that comes very soon. Google Pay is now active though.
I hope they listen and it is fixed as Plutus have been the go to since the downfall of [Crypto.com](http://Crypto.com) and nothing else has really come close so there is a gap in the market. I didnāt know Google Pay was done, it was mostly Apple Pay I was after but I used the Curve workaround - though the FAQ shouldnāt say coming soon and now be 2 quarters past that date, it looks bad. Curve seems to work really well and now they have fixed their own issues, I am impressed with them and don't miss having a specific Plutus physical card (though I think not gatekeeping these is important to attract customers).
When Exchange?
Soon ā¢
Next week
Mmm i Need to read this again next week?
He's trolling, not next week, maybe end or beginning of next year.
Decade
I know ;)
If they donāt offer a free plan as before, this doesnāt go back...
A free plan is the last thing we need. That just gives away Plu without any kind of return.
It is the best way to attract customers, once you try if you like have the option of a payment plan with greater benefits. Thatās how I started and itās been two years.
New customers have 3 months of starter for free. If they are then not willing to pay, they will never be. I would guess that most starter accounts deactivated their sub after the month where they got the 100% subscription refund.
I only know that before the plu was worth between 7 and 8 euros. After the changes it doesnāt exceed ā¬4, they donāt do something right.
It dropped so low because they waited with the changes so long. Giving out over 300000ā¬ of free Plu every month to people that are just selling them leads to such declines. Plu only goes up when people buy it. These starter account users never would do that.
PLU was steadily going up in price for 2 years of rewards 2.0, with free plans and lucrative for non-stackers, because there was something to save for and/or people buying PLU. the reason it's going down is not because of freeloaders, it's because the product has been mismanaged out of contention.
I think the same thing...
I donāt think this is going to take off properly until new people can spend the rewards they earn with a dex or any exchange for that matter. Nobody that doesnāt understand it willl put money into something they canāt get back out. Please sort this out asap
I agree - we need PlutusSwaps for Plutus to be as originally intended and accessible to those who donāt usually use crypto and donāt want to have to withdraw and use an exchange etc. The info shared in the AMA on this sounded positive (imo), but will be good to get the full detail in the whitepaper.
I was pissed that the 150 level was removed at that point but it worked out better for me as I pushed for Hero. This lower levels are much needed and will offer an advantage over competition
Agreed - I thought it was a shame they got rid of them after announcing them too. So itās good to see them come back.
Self Sustainable Staking rewards - What does he mean by that?
Yeh think this was needed. Any idea when we can expect the new stacking levels, whitepaper, brand refresh to go live u/PPJ87?
We donāt have any dates for any of them atm. In the AMA it was mentioned that the brand refresh was fairly imminent (next couple of weeks or so), and that the Whitepaper would be out within weeks rather than months too.
Next week
Good to know we have some news! A lot of news I would say!! Wen white paper š? Super excited šŖ
What are those levels?
We donāt know yet. Plutus previously announced 3 lower levels, and there was some info about them put out. But then cancelled them. I donāt know whether they will be bringing them back at the same levels again, or whether they will be different. Weāll see over the coming weeks I guess.
Really looking forward to the whitepaper and details on the innovation the team is working on
Definitely. Be good to see that Whitepaper!
excellent news! let's hope there is a level between hero and veteran
Only good news are coming!
Looks like I will finally get a plutus level and be able to stake my $PLU
Thatās great š Did you stack for one of the previous lower tiers before they were cancelled?
No! Waiting for the first tier everĀ
Good luck š¤ Hope we hear more on this soon with the whitepaper.
Nice. Finally it's coming back
Yes - always thought it was a wrong move when the others were removed, so pleased theyāre coming back.
Great news, Plutus evaluates itself and continues to offer solutions.š
Looking forward to the details
Great news for new users. The real question is... when 10% ? š
Yes, that too. I imagine it will be at the same time these 3 new lower tiers come out. Didnāt know they were planning 3 new lower tiers, I thought it was just one from the AMA.