FAQ: NPXSXEM and NEM XPOS
We’ve recently received a lot of questions about NPXSXEM as it gets more and more popular among the holders. In fact, it’s not a new token but exists alongside NPXS, our token based on ERC20 since the beginning of the Pundi X project. It’s for the utilization on NEM XPOS devices. To help you understand more about this token and our project on NEM blockchain, here are the answers to the frequently asked questions.
- What is NPXSXEM?
NPXSXEM is a Pundi X utility token built on the NEM blockchain. The tokens will be utilized in customised NEM XPOS devices.
- What is the NEM XPOS?
The NEM XPOS is a world first point of sale (“POS”) device based solely on the NEM blockchain, which has an operating capacity of 4,000 transactions per second. The NEM XPOS is built to utilise this capacity for facilitating merchants to conduct Mosaic-based cryptocurrency payment or transactions. It also accepts transactions through mobile wallets and bank cards with the support of the local payment gateway. Our POS solution has the option to support retail intelligence, inventory management, order management, marketing and loyalty programs. Every Pundi XPOS device is an all-in-one solution for retailers.
- How many NEM XPOS devices will you roll out?
20,000 NEM XPOS devices have been ordered and it is now currently in development stage. We plan to deliver to the NEM foundation and its partners for the deployment in coming years. The NEM XPOS will also be available for sale when ready.
- What is NEM XPOS devices specifications?
The device employs MTK/Qualcomm solutions with Android-operating system on top of the NEM blockchain. The device also has two slots which allow the merchants to accept EMV chip cards and traditional magnetic stripe cards to provide seamless integration for physical store retailers to migrate to a blockchain-based payment system. The device is further secured with tamper proof PTS technology.
- What is the NEM XPASS?
The NEM XPASS is a multi-cryptocurrency card where people can buy, sell and trade cryptocurrencies with a swipe. You can also buy daily items with it. It stores multiple cryptocurrencies that run on the NEM blockchain.
- What will be NEM XPOS future?
Pundi X gives the Mosaic tokens additional value by bringing them into people’s daily life. We aim to further develop and upgrade NEM XPOS to allow merchants to easily accept Mosaic tokens. We will continue listing popular Mosaic tokens in NEM XPOS and work with local NEM teams to deploy the NEM XPOS devices in the markets.
- What is the token unlock scheme?
Same as NPXS, the token unlock scheme is a program enabling NPXSXEM holders to receive unlocked tokens on a monthly basis till the end of 2020 with the percentages distributed as follows;
Holders are required to follow provided instructions to claim the unlocked tokens, which are regularly published on Pundi X’s official news channels.
- Where can I trade NPXSXEM?
NPXSXEM uses NEM tokenization technologies. It can be traded on Hotbit, Kryptono, Exrates, and NEM exchanges.
- What is the NPXSXEM network?
The sales network is composed of the up to 20,000 locations where NEM XPOS are located. All devices are connected to the NEM blockchain and will serve as nodes to power the blockchain.
- Why the NEM Blockchain?
Cryptocurrency transactions at the point of sale terminal require higher speed as the customers have no patience to wait for more than 60 seconds to complete the transactions. The NEM blockchain can process 4,000 transactions per second, which is why it has been chosen for use on the XPOS to facilitate faster transactions.
- What are differences between you and Monaco, Tenx, change-bank?
These great projects allow their users to buy items using their credit cards, usually VISA cards. Pundi X enables users and retailers to conduct cryptocurrency transactions independently of any credit card network. Our transaction platform is complementary to the above mentioned companies: users can have more options to buy cryptocurrency using our NEM XPOS device.
- What doesn’t Coinmarketcap reflect the real value of NPXSXEM?
As stated in NPXSXEM token supply article, due to a limitation in the NEM blockchain that prevents the issuance of smart contracts larger than 9 billion tokens, we have generated 12 Mosaic ID— NEM’s equivalent of smart contract. The current value of Coinmarketcap now shows only one of the twelve Mosaic (pundix:npxs), the circulating supply of this Mosaic is also displayed incorrectly.