Pundi X announces NPXS buy-back program for Partnership Reserve Fund

Pundi X (writers)
Apr 16, 2018 · 3 min read

Update: 16: 11 GMT+8 Singapore time on July 20, 2018

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Dear Pundians,

Within the past few weeks, we have visited merchants, banks, governmental and organizational partners and exchanges in the markets we are targeting to launch and activate our blockchain-based point of sale solutions.

We have discovered the demand for NPXS tokens is much higher than anticipated.

With plans to ship 4000 pre-ordered units in Q2 2018, a commitment of 20,000 devices from our partners at the NEM Foundation and recent sales and yet-to-be-announced deals we have already achieved nearly one-quarter of our low-end three-year target for global distribution just months after our initial public token sale.

We are also having some extremely productive discussions with potential partner organisations around-the-globe.

This is exciting. However, a question remains — how can we expand our network, cultivate and maintain the active rate at the same time as not using up our reserved tokens too quickly?

Our advisors, contributors, and supporters have suggested that Pundi X establish a dedicated Partnership Reserve Fund (PRF) to encourage and incentivize future business partnerships within the Pundi X ecosystem.

The purpose of the PRF is to encourage and develop partnerships within Pundi’s blockchain network such as strategic business relationships and new advisors, community members, merchants, exchanges, banks, and technical partners among others. The fund will be used to subsidize the roll-out of XPOS devices, cover transaction fees, marketing costs, listing costs, incentive bonuses and even airdrops to new users and merchants. The goal is to expand and expedite Pundi X’s network as quickly as possible.

The total buy back of NPXS will be equivalent to 2,000 Ethereum (ETH) and will be rolled out in stages. The first stage, to be completed in coming weeks, will have the company purchase NPXS to the equivalent of 200 ETH.

We will allocate buy-back funding to a specific address for transparency.

  • Update on April 17: We plan to execute the buyback price between $0.0030 to 0.0036 dollars.

Here is the address for you to check, https://etherscan.io/address/0x10Ca70A39fb752c4FAd3Cf2AFa7f068DC4dfa868#tokentxns

We will keep you posted on the status.

Sincerely,

Zac Cheah
CEO and co-founder
Pundi X

Pundi X

Pundi X is a leading developer of blockchain-powered…

Pundi X (writers)

Written by

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

Pundi X

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

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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