Pundi X
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Pundi X

August tokens unlocked for Pundi X holders and the new mechanism explained

Dear Pundians,

It’s time again to prepare to receive our monthly unlocked tokens. Entitlement to token ownership is tied to each token holder.

In August, all the Pundi X tokens holders (NPXS, PXS, NPXSXEM, and PXSXEM) will receive 7.316% of the amount they hold when we take snapshot at 23:59:59 SGT (UTC/GMT+8) on August 31.

For NPXSXEM and PXSXEM holders, you are required to register at https://pundix.com/xem.html to receive monthly unlocked tokens if you don’t register before or change the wallet address.

Here are details of how we will calculate and release the August unlocked tokens:

  • Snapshot time: 23:59:59 SGT (UTC/GMT+8), August 31, 2018
  • Execute date: 1st week of September. The delivery will take up to 10–15 days, depending on the speed of Ethereum network.
  • Amount: 7.316% of the Pundi X tokens you hold.
  • Method: Automatic for all NPXS / PXS token holder and register required for all NPXSXEM/XEM holders.

The released tokens will be sent to the snapshotted wallet addresses that support receiving Pundi X tokens via unlock. See a list of supported wallets and exchanges below.

Private wallets

  • ERC 20 token wallets (NPXS, PXS) to which you own your private key: MyEtherWallet, Metamask, Nano, Trezor, Trust Wallet, Imtoken, the Bancor wallet and more can benefit from the monthly mechanism.
  • Mosaic token wallet (NPXSXEM, PXSXEM): NEM Nano wallet

You can also double check with our admins at the Pundi X Official telegram channel at https://t.me/pundix

Supporting exchanges for August monthly token unlocked

  • Exchanges listing NPXS and supporting the August unlock process include: Binance, Bit-Z, Coinbene, Coinnest, Hotbit, OKCoin Korea, Tokenomy, WazirX.
  • Exchanges listing NPXSXEM: Hotbit, Kryptono will also provide support.

Keep your NPXS/PXS tokens in supported wallets three hours before 23:59:59 SGT (UTC/GMT+8) on August 31, 2018, and three hours after 00:00 SGT (UTC/GMT+8) on September 1, 2018. If you are not able to follow the timeline and the guidance above, you will not receive the unlocked tokens.

The Pundi X team will distribute the unlocked tokens to Pundi X holders who hold their tokens in private wallets in the first week of September.

Exchange partners will distribute unlocked tokens to NPXS holders based on their own schedules.

New monthly unlocked token release mechanism for NPXS holders

As announced on August 16, we will reform out token distribution mechanism. The new NPXS monthly unlocked token mechanism will start at 00:00:00 SGT (UTC/GMT+8) on September 1, 2018. The formula to calculate the base of your NPXS monthly holdings is as follows:

[(The average of the daily lowest NPXS amount of the month X 10%) + (the daily average NPXS amount of the month X 90%)] X 7.316%

To receive monthly unlocked tokens based on the new mechanism, NPXS holders will need to keep their NPXS tokens in the ERC 20 wallets to which they own a private key, such as MyEtherWallet, Metamask, Nano, Trezor, Trust Wallet, Imtoken, the Bancor wallet and more.

Supporting exchanges for new mechanism are Binance, Hotbit and OKCoin Korea. We will keep you posted if there’re more exchanges to support.

IMPORTANT:

  • Due to technical limitations, we want to remind you again that keeping NPXS in the exchanges cannot guarantee you to receive the proper amount of the monthly unlocked tokens under the new mechanism. We expect there will be discrepancy between the tokens stored in exchanges and private wallets. Therefore, we highly recommend you to store your NPXS token in your private wallet to receive the full amount of the monthly unlocked tokens. We will not be responsible for any discrepancy occurs to the token holders stored their NPXS token in the supporting exchanges.
  • You will NOT get monthly unlocked tokens if you do NOT keep NPXS in the supporting wallets or in the exchanges listed above which are Binance, OKCoin Korea and Hotbit.

Please also note that new mechanism will apply to the NPXS holders only. It is NOT applied to PXS, PXSXEM, and NPXSXEM holders. These holders will receive monthly unlocked tokens based on the old mechanism.

Avoid swapping during August 29 to September 15

For PXS holders, during August 29 to September 15, we recommend you not to swap due to the monthly unlocked token snapshot and distribution. The delivery of the new tokens will take relatively longer than expected. It’s also possible you may miss the snapshot if you swap during August 29–31.

PXS and PXSXEM will lose the utilities after September 20, 2018. Make sure you complete the swap before September 20.

We hope the information is helpful for you! Again, thank you for your continued support.

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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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Pundi X (writers)

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

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