Pundi X
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Pundi X

Q1 2021 Progress Report

Note: below is the summary transcript of the quarterly report, there might be minor grammatical discrepancies as we have decided to follow the original video transcript for the best understanding. For the original video, you may watch it here https://www.youtube.com/watch?v=u7GWBVEaN_c

Introducing Danny Lim

Danny Lim, Co-Founder and CFO of Pundi X, is the special guest of the Q1 2021 report session. Danny has a background of Finance, Accounting and Legal, and working experience in Baidu, the largest search engine in China, and Lenovo before co-founded Pundi X. Danny came back to South East Asia with Zac in 2016 to start Pundi X.

XPOS

  • Incentivize Crypto Usage

PUNDIX token

Redenomination Swap

  1. The token ticker is changed from NPXS to PUNDIX
  2. The total token supply was 258 billion and it is now 258 million after the token reduction

f(x)Wallet

  1. Function X testnet: It is still showing testnet and will switch to mainnet as we launch mainnet sequence;
  2. Swap: You can swap ERC20 tokens.
  3. Crypto Bank includes our own token re-denomination swap for NPXS to PUNDIX. It is on-chain so there will be fees for the ethereum blockchain.
  4. Deposit: It’s also part of Crypto Bank where you can deposit tokens on f(x)Wallet to earn interest.
  5. Purchase: this feature allows users to purchase cryptocurrencies via various payment methods such as Apple Pay, Google Pay etc. provided by Ramp Network.

Function X Mainnet

FX mainnet launch will not be delayed anymore. Right now, we are preparing for the launch, we, as me, you, and every FX holder.

  • Welcome all of the new holders and new XPOS users. We have been a growing community and thank you for your continuous support.
  • We have seen a growth in XPOS deployment with more master distributors and XPOS will be a mining machine that will earn reward for distributors and merchants.
  • Thank you to the community for supporting and approving our new PUNDIX token through the polls, and we have done the swap successfully with support from the Exchanges and wallets.
  • Next, we will continue our quarterly token burn and the next burn will be next Saturday. We will also continue our voluntary buyback.
  • The staking will start on April 6th whereby you can stake PUNDIX and FX to get FX. Once the FX staking pool hits 20% of the FX token supply, we will start the mainnet.
  • f(x)Wallet is now available in App Store and Google Play. There are lots of DeFi features and you can also stake and receive interest.
  • The Function X mainnet will start the countdown officially on April 6 and we encourage everyone to stake if you have FX. We need 20% of the staking amount to kick-start the blockchain. Together we can help secure this decentralized network. It is very important to have no one, including the foundation, to control the blockchain; therefore we need more stakers in the blockchain.

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