Plutus is a decentralized payment application that allows users to make purchases with Bitcoin and Ether anywhere. Users are simply required to load the app with BTC or ETH and hold the phone over the card reader for the payment to complete.

Plutons are Ethereum-based tokens that can be earned as a reward for shopping with Plutus. Plutons will be available to convert on the Plutus exchange network, allowing users to make in-store purchases with zero fees on conversion.

Only 850,000 Plutons (PLU) were available for sale during the ICO, which represents 4.25% of the total supply of 20,000,000. Issuance for the remaining 95.75% will be limited and locked in rebate smart contract pool and NOT owned by Plutus.it, which means there will be a very low circulation from the initial distribution and a total of 20 million Plutons ever created.

Only 850,000 (4.25% of a total 20 million) Plutons were available for sale for ETH and BTC. Plutons are issued on the Ethereum blockchain, and can be distantly compared with cashback points or frequent flier miles. The remaining 95.75% of Plutons are not owned by Plutus.it. They are locked to be automatically and very slowly emitted by a decentralised rebate system over hundreds to thousands of years.

Money raised was said to be stored in a multi-signature account (provided by BitGo for BTC, a smart contract for ETH) , to be released to the development team according to these guidelines: 40% after the crowdsale, 10% after the launch of Plutus DEX, and 50% after the launch of the Plutus Mobile Payments App.

1033 participants raised a total of $1,005,487.65 over a 9 day period.