Q2 2022 Progress Report
Thank you for joining our Q2 2022 Progress Report. For those of you who couldn’t join it live, you can watch the video version below.
In Q2, we activated new merchants in Argentina, Brazil, Türkiye, Honduras, Japan, and UAE.
Since Prospera, the special economic zone in Roatan made Bitcoin one of the legal tenders, we went there and met the officials to seek the possibility to deploy XPOS. The result is positive. Our plan is to continue working with the locals to push for crypto education and adoption there.
We are lucky to be the first international company to work with Roatan on this project. The officials highly encourage crypto adoption and already we have the first XPOS merchant, a scuba diving shop owner, and ready to roll.
The Pundi X Legal team has dedicated much to supporting the business development in Honduras. None of the accomplishments could be done without them.
In Argentina, our distributor also kicked off the local marketing activities, including promoting Pundi X on the radio and hosting meet-up events.
Next, let’s look at the statistics about XPOS transactions in Q2
The XPOS also supports on-chain payment and crypto sales to other blockchain wallets, in which we have seen growth in statistics.
Merchant Portal Updates
We are constantly improving the XPOS functionality. In Q2 2022, 2 major updates were added to the XPOS system.
- Fiat currency switch in merchant portal; and
- Auto onchain withdrawal in BEP20 (withdrawal amount under 1,000 USD)
By adding these new functionalities, the merchants can now operate the XPOS system even more easily.
PUNDIX Listing in new exchanges
PUNDIX is listed in most known top exchanges. In Q2, more exchanges add PUNDIX trading pairs to their offerings. We thank you for that.
PURSE is the loyalty token in the Pundi X ecosystem. The second part of liquidity mining is out! Another 1 billion PURSE are added to the pool.
PURSE holders are able to redeem PURSE for goods, such as Netflix gift cards, etc. There will be more PURSE redemption campaigns coming, so stay tuned.
Also 2.1 billion PURSE was burnt and it will be continued with the BDL model which every PURSE transaction on BEP20 network will take 20% fees, which 10% will be burned, 5% will be distributed among all holders proportionally, and 5% will be put into the liquidity pool.
Staking PURSE to claim BDL is also available. PURSE holders will get more tokens by participating in staking and becoming a liquidity provider.
New names of decentralized products revealed
Thank you for the community’s contribution to naming the decentralized products. We have new names for the decentralized products.
- Support multiple blockchain networks, including Ethereum, BNB Smart Chain, Polygon, Avalanche C-chain, and more to come.
- Offer 170+ world fiat currencies and crypto exchange rates
- Withdraw anytime and anywhere. It’s non-custodial. The store owner owns the private key of the blockchain wallet.
- Get rewarded with transaction mining.
In the future, XChange will be available on Pundi XPOS as one of its applications, including PayPal, Paypal Here. The XChange can also be an APK downloadable for all Android POS or mobile devices to use.
A hardware wallet based on Infineon chipset that allows users to own their private key and pay/buy crypto via the XChange app on XPOS. Users can also access XCard by tapping the card on an NFC-enable phone and proceeding with the transaction.
XCard can support NFT, too.
A powerful dashboard for merchants to add addresses and monitor their onchain transactions as well as assets across multiple blockchain networks.
This is also the portal for the distributors to sign up their merchants for transaction mining.
In sum, XChange, XCard, and XScan are decentralized services using Pundi X Chain, which is the subnet of Function X layer 1 protocol.
In the roadmap of XChange, Pundi X Chain will be utilized to record all the on-chain transactions from multiple blockchain networks on XPOS via XChange and incentify merchants and distributors to participate and use XChange through transaction mining.
The Function X developer team is now working on this product and the documentation will be available on https://docs.xblockchain.app.
On July 11, XChange and XScan will open to all registered XPOS merchants for beta testing. Register your XPOS for testing here.
500 XCards will be given to the testers as a celebration for the 1st anniversary of FXCore.
Upcoming in Q3 2022
Q & A:
- When will XCards be available?
A: Infineon will produce a new set of chipset after the testing. The testing will be happening next week. Then it will take 2–3 months at least for production. Hopefully by the end of this year. If not, it will be by early next year.
2. What’s the timeframe for the lightning network?
A: Now the developer is integrating. In Q3 we will test it on XPOS.
3. When will be possible for a new PURSE use case? Will it be related to the XChange incentive program?
A: There is a project in the making, which is something Web3-related.
4. What happened to your phone? / When will the functionX phone (BOB) be released?
A: Unfortunately, the manufacturing plan was suspended due to higher costs and logistic issues under the impact of COVID. The pre-orders were refunded and the developers kept building decentralized cross-chain infrastructure on Function X. We focus our resources on building the next generation of decentralized finance infrastructure.
However, we are the first one to conceptualize the blockchain phone and the code is available for public to search.
5. When will we see POS terminals in Canada?
A: We have a distributor in Canada called NOOBECO and some merchants in Canada. If you are interested in becoming one, visit https://www.noobeco.com or email firstname.lastname@example.org where our distributor will assist you in onboarding XPOS. Or you can simply order it at https://shop.pundix.com/ca/xpos
6. Has regulation been achieved by Pundi X from the Singapore Monetary authority? link of proof of Regulation from MAS please
A: We are still in the process of applying for the license from MAS. If we have any news about it, we will share it with the community.
Thank you for joining the session, please stay healthy and safe, and we will see you in the Q3 progress report!
Pundi X Team