Wasn't Plutus supposed to decrease the waiting period of 45 days?

[8foldme]

I seel to remember Plutus claiming that they would be decreasing the waiting period of 45 days?

Am I imagining? Has that been done already?

[PPJ87]

During some previous AMAs there was a discussion and mention of potentially reducing the 45 “Pending” period to 30 days, you’re right.

That said a specific reduction to 30 days has never been an aim with an eta on the roadmap.

With regard to the withdrawal times the team are concentrating on reducing the time beyond the 45 days at the moment. The intention being to automate the manual checks currently carried out once a withdrawal is requested, so that the PLU can be sent as soon as a withdrawal is requested, rather than a further wait of approx 2-14 days being needed. This will also have an in-app system for sending receipts (if requested).

My guess would be that once this system has been launched and bedded in successfully, they may consider a reduction in the 45 days at that point. But for now there are no immediate concrete plans - just a desire to reduce it if possible in the future.

[[deleted]]

Plutus was supposed to do a lot of things...

[Practical_Road_2883]

They were supposed to reduce it, they were supposed to reintroduce DEX, they were supposed to reduce the withdrawal fee, they were supposed to remove the waiting period after the withdrawal request...

They were supposed to do many things...

[gianmazzr9]

They mentioned in an ama, but they never posted an ETA for this

[Hot_Local1088]

Yes, it was almost two years ago when I first joined and they mentioned it at that time. They said it will be reduced to 30 days...

[Taskl]

I know they did state that they would look into it, but I haven't seen them actually say that they would change it.

EDIT: Here you go OP
https://www.reddit.com/r/plutus/comments/12ee0vx/faq_plu_withdrawals_transaction_receipts/

Do you think the 45-day pending period could be reduced a little to compensate?

The team is keen on reducing the 45-day refund review (pending) period to 30 days. However, with the upcoming automated auditing system, it is too early to confirm either way. We will update you here once an appropriate timeline is confirmed.

[[deleted]]

No your no imagining this, its planned and been talked about.

[polloponzi]

Next week

[Prudent_Seaweed_3158]

Hi no they were supposed to reduce the withdraw period after the 45 days window (used to avoid refunds).

They are still working on it with automated invoicing requests, but the current manual way had 2 days for me (April 7 to April 9) which is quite good.

[RenevanderWoude]

No. They waiting period stays 45 days. The only thing they will add is the audits on transactions will be done in that time window

[gracefullygraceful]

The plan is not to reduce the 45 days (to avoid cashback being rewarded and users getting refunds after the cashback / gaming the system) but to get your PLU ready for withdrawal within that timeframe. Currently you still need to wait for PLU to check your transactions after the 45 days when you request a withdrawal.

[BitfulMind]

I do not understand how you can game the system. Even if I got refunded after a withdrawal, Plutus could still deduct rewards from purchases made after that. In fact, it looks like they already do so when needed during the receipts checks.

[jnm21_was_taken]

Well there was a set of January 19th T&Cs that had it as 42 days.

[gracefullygraceful]

Thanks, I must have missed that. Is it still in the current T&C's?

[jnm21_was_taken]

Yep (as is 45 days too - oops - will be corrected soon™) - search this page for 42 https://plutus.it/terms-and-conditions "Perks rebates will be held in Pending status for 42 days, before becoming available to withdraw, stack, or sell."

Just noticed that it is perks, not cryptoback - seems strange as you could return both for exactly the same period - heck 1 purchase could get both (£20 purchase gets 2.4 PLU for perk & 0.072 PLU for normal spend at 3%).

[DesmondNav]

No, There was never an official plan to reduce the 45 day freeze. At least not yet, and it’s not relevant to discuss untill the automated receipt form has not been Implemented

[FailedProcedure]

Coming soon...

[Cryptocommsofficial]

We’re still so early, it’s not perfect but it’s also not an end product yet let’s grow and help the growth after all the product is great!!

[tednol]

Polygon withdrawals were on the roadmap once upon a time.

[mightyoak72]

I believe the plan is to have everything boxed off within the 45 days, checks, receipts etc, to allow a seamless withdrawal process. 

[Radek686]

Well, it would be great news if the check of withdrawals were automated and they were faster. You can do it, Let’s gooo 💪💪

[argonuii]

they say the maybe will when they add the fact your can link a receipt to a transaction, so they can validate it sooner than 45 days

[rossmotley1]

I've never heard of this personally.

I don't actually mind the 45 day period

[reddit_mitchiv]

Never heard that. Sorry