[ANN] Accelerated unlock and changes to the release times of monthly NPXS and NPXSXEM unlocked tokens

Pundi X (writers)
Feb 11, 2019 · 3 min read

Dear Pundians,

Our whitepaper initially proposed a roadmap for an NPXS/NPXSXEM token unlock program of 3 years which started in January, 2018. We’ve been executing since then, but whitepapers are by their very nature living documents that adapt to changing circumstances. To better comply with ever-changing regulatory requirements, our legal team has advised the company to release the remaining unlocked tokens, starting from April 1, 2019, and to complete the program early by the end of June, 2019.

Given the shortened period, we will increase the unlocked-token rate over the next three months. Please note that the total distributed amount of the tokens will remain the same as stated in the whitepaper.

The time base for calculating the remaining unlocked tokens

Start date: 00:00:00 GMT+8 on March 1, 2019

End date: 23:59:59 GMT+8 on May 31, 2019

Unlocked token rate: 11.063%

The formula to calculate the base of your NPXS/NPXSXEM monthly holdings is the same as previous months but the rate is adjusted:

[(The average of the daily lowest NPXS amount of the month X 10%) + (the daily average NPXS amount of the month X 90%)] X 11.063%

Random snapshots will be performed as usual.

Distribution dates

The remaining unlocked tokens will be distributed in the first week of April, May, and June. There will be no more monthly token unlocks thereafter.

Here is the example. Assume you own 10,000 NPXS in February 2019 and hold till June 1, 2019 without buying and selling. You will get 212 unlocked tokens in March (2.11637%) and then 1,129 unlocked tokens in April (11.064%), 1,255 unlocked tokens in May (11.064%), 1,394 unlocked tokens in June (11.064%). See the chart below on how the numbers are calculated.

Supported wallets

All ERC20 compatible and NEM nano wallets, which you own your private key, as well as the XWallet. This is the same as the wallets that have been supporting your usual monthly unlocked tokens.

Supported exchanges

The same exchanges you’ve received your monthly unlock tokens from.

Please note that the formula which is used by the exchanges to calculate the base is different. You can read the details from their announcement channels.

IMPORTANT NOTE:

  • If holders want to receive the optimal amount of the monthly unlocked tokens, we strongly recommend to keep NPXS/NPXSXEM in your private wallet (not on an exchange wallet) as previously suggested.

Pundi X

Pundi X is a leading developer of blockchain-powered…

Pundi X

Pundi X is a leading developer of blockchain-powered devices, including the world’s first point-of-sale solution, the XPOS, which enables merchants and consumers to do transactions on the blockchain in physical stores.

Pundi X (writers)

Written by

Writers for Pundi X: https://medium.com/pundix

Pundi X

Pundi X is a leading developer of blockchain-powered devices, including the world’s first point-of-sale solution, the XPOS, which enables merchants and consumers to do transactions on the blockchain in physical stores.

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