Q1 2022 Progress Report
Dear Pundians,
Thank you for joining our Q1 2022 Progress Report on 7th April 2022. This is the first time we host this event in a different time slot. For those of you who couldn’t join it live, you can watch the video version by visiting our YouTube Channel.
POS Development
Merchant Adoption
In Q1 2022, except for the Pundi X Stores in Turkey, we are having new stores in Argentina, Brazil, Panama, South Africa, Taiwan, Turkey.
More stores are coming in Turkey, stay tuned. The Pundi X team also went onsite for merchant activation and training. We are glad that our XPOS solution is featured by a YouTuber, Full Value Dan, in Taiwan.
NPXS Redenomination
The NPXS redenomination swap continued for a year from Mar 2021 and ended on 29 March 2022. 94.5% swapped. Thank you to exchanges and blockchain wallets that support the swap. The unswapped 5% will be used for future ecosystem incentive while Pundi X Chain will integrate EVM.
DeXPOS beta testing
DeXPOS is now open for selected verified XPOS merchants and community members for beta testing, which allows more coins and wallets to be supported in the XPOS system as a Web3 payment solution.
The benefits of deXPOS:
- Transactions in private wallets for both merchants and consumers.
- Direct crypto to crypto sale, no conversion.
- Onchain. Transparency
- Your key. Your token.
- Multiple blockchain networks supported
Any tokens that are available on the Ethereum network, Binance Smart Chain, Polygon, and Avalanche blockchains are able to be transact on the decentralized XPOS.
Some of our advanced merchants have voiced that they’d like to sell their crypto holdings in their private wallets. Through the DeXPOS, this demand can be fulfilled.
PURSE token
Hope For Children NFT Donation
In the hope of helping those in need during the war, Pundi X collaborated with Hope For Children CRC Policy Center in Cyprus to create a Proof-of-Donation Hope for Children NFT to help children refugees of all nationalities. Each NFT requires 20,000 PURSE to mint, and so far 2.8 Million PURSE have been donated.
We encourage you to join us and share the love and care to the children who can use a helping hand: Https://pundix.com/hopeforchildren
Redeem PURSE for McDonald gift cards
With only 250 $PURSE, you get 25 US dollars worth of gift card, which makes your $PURSE 100 times worthy! You are welcome to let us know what is the next cool thing you’d like to redeem with $PURSE.
PURSE Liquidity Award
Provide liquidity on Pancake swap, stake LP tokens to earn more $PURSE with high APY. The Q1 BDL Distribution is completed with 1.1 Billion $PURSE burnt. Head to https://pursetoken.com/ to participate in the liquidity pool event by staking PURSE.
EVENTS
We have joined the Singapore Blockchain Association and are happy to contribute ourselves to be part of the builders of the ecosystem.
We have also enabled USDT BEP20 onchain payment and crypto sale support in XPOS in response to the requests from our merchants. Users can now transfer directly from their private wallets to XPOS with low gas fees.
Avalanche Summit Barcelona 2022
Pundi X’s Growth Manager, Andreas Harpas, joined the Avalanche event in Barcelona. The event went on for 5 days and many showed interest in the XPOS device. Andreas was also interviewed by Terra Bites, the social media of Terra.
Andreas also managed to demonstrate DeXPOS to the founder of Avalanche protocol, Emin Gün Sirer, and the Avalanche community, and made the first $AVAX transaction on the DeXPOS.
Questions from the community
Q1: If a customer transacts on the decentralized XPOS, will the transaction be reflected on the Function X Explorer, or will it be on the original chain, e.g.: Polygon?
A: If the transaction is made on Polygon or another chain, it will not be shown on Pundi X Chain. However, both these chains are EVM compatible, so they share the same derivative and same hash addresses, what we might potentially do is create a similar (not the same amount) of transactions whenever there are transactions happening on the other chains to show the activities on the Pundi X Chain. The discussion is still ongoing, nothing to be confirmed just yet.
Q2: Regarding the payment on DeXPOS, is it limited to certain project tokens, or can it be used on verified tokens?
A: Any kind of tokens can be transact on the DeXPOS, as long as it is on Ethereum, Polygon, Avalanche or BSC.
Q3: For the $PUNDIX that are supposed to burn from XPOS transactions, does it also applies to DeXPOS transactions?
A: If the transaction happens on AVAX, for example, it will not burn $PUNDIX. We can mirror something on the Pundi X Chain, but there’s not yet a confirmed conclusion.
Q4: Some NPXS was not exchanged within the deadline. What will happen to PUNDIX coins that have not been swapped?
A: The unswapped 5% will be used for future ecosystem incentive while Pundi X Chain will integrate EVM.
Q5: What is happening in the UAE? (working closely with Zelapay)
A: We will leave it to our distributor, Zeelapay, to announce the big brands that will support XPOS which Zeelapay will be working with.
Q2 Outlook
DeXPASS card enters mock-up production
Apart from decentralizing the XPOS device, we are also decentralizing the XPASS, which will allow the XPASS to become a cold wallet.
Establish CBDC task force
We are working with a few countries to launch CBDC and we will double down the effort to hopefully become a major player when CBDC becomes the mainstream.
Open more stores in Turkey
More Pundi X stores to be opened in Turkey, and a big activation to be expected in Q2 or Q3 2022. We’ll let our distributor to announce the good news.
Thank you for joining the session. Please stay healthy and safe, and we will see you in the Q2 progress report!
Sincerely,
Pundi X Team
