OFFICIAL UPDATE; Exchange Listing, Launch, Token Burns & Referral Program Airdropped PUX

LBANK. INFO & 10 Million PUX

The deadline we set LBANK.info to refund our listing fee and 10 million PUX is fast approaching and it does not seem that they are willing to cooperate.

Assuming that they don’t, the current PUX tokens will be replaced with new PUX tokens; the current smart contract has been paused so that we may deliver 1:1 tokens to all holders. The distribution details will be announced upon confirmation that we will be going this route.

UNSOLD TOKENS

All and any unsold tokens were initially supposed to be burnt. Following input received from our community we have amended the way we were supposed to deal with unsold tokens such that they are airdropped to PUX holders.

After receiving plenty more input from our community and advisers, especially following our outstanding issue with lbank, we have decided to give our advisers and broader community a vote in the matter.

The results were in favor of burning the unsold and unused tokens. We have accordingly taken measures in reducing the teams holdings to remain at 25% of total supply, the section below breaks this down in more detail.

The burn will take place before the 15th of September and will be made publicly available for everyone to view.

FINAL TOKENOMICS

- 30 million tokens have been sold in total. The remaining tokens will be burnt. This does not include an additional 10 million tokens reserved for a potential IEO. And another similar allocation locked up for future strategic investors.

- The team allocation will be reduced to maintain a 25% share of the remaining supply. These tokens will be locked up as outlined in our whitepaper, the address with proof of lockup will be provided soon.

- 25 million tokens were initially set aside for partners and advisors, the final figure is 3 million, with the condition that these remain locked up for 6 months, these tokens will only be delivered 6 months after pukkamex launches. The address carrying these tokens will be made public soon.

- Marketing; 12.5 million PUX Tokens were initially allocated, 450k were used, these tokens will also remain locked up for 6 months. The address carrying these tokens will be made public soon. An additional 2.5 million tokens will be airdropped to the referral program participants, these will be deliverable 1-month post launch and the process will be detailed later on in this article.

- The max circulating supply on launch was projected to be 150 million tokens, this figure increases to 187.5 million tokens 6 months after launch.

Following the issue we have had with LBANK and owing to the broader market condition, less tokens than initially anticipated have been sold, the fate of the unsold and unused tokens was hence put to a vote; a vote in which core team members, advisers, investors and the broader community participated in; The results of the vote were in favor of burning all unsold and unused tokens instead of airdropping them. As such, follow the final tokenomics;

LAUNCH & EXCHANGE LISTING

We do realize that every single person is eager to see PUX listed on an exchange and can confirm that a listing will take place before 20th September, an IEO will also be possibly done on the same exchange 24 hours before listing.

The details of this listing and IEO will be made public pending the announcement by the exchange.

Following listing on the exchange we will also launching the spot trading section of pukkamex, a PUX/USDT pair will be listed among other trading pairs.

We aim to launch pukkamex late September — early October and will have more solid dates announced on 14th September. For the time being here is a table summarizing our priorities along with estimated roll out dates, this is the actual internal document that the team is working off, unedited;

AIRDROP TOKENS

Quite frankly our priority remains maximizing wealth for all token holders, more so, our contributors who placed their trust in us as a team and pukkamex as a project.

As such all airdrop participants will be required to sign up on the pukkamex platform after launch using the same email address used for the referral platform. We will allow a 1 month window for airdrop participants to sign up.

After the sign up window is closed the tokens will be distributed to the airdrop participants in full and within 24 hours.

A more detailed release outlining the process will be provided a few days before launch.