Q3 2020 progress report summary
Thank you for your time to participate in the Q3 2020 progress report session. We’re going to update you on the progress we made and the lookout of Q4.
Here’s the agenda of the Q3 progress report:
- Product Enhancement
- Compliance & Partners
- Online sale channels
- XPOS Merchants and users
- Events & Marketing
- Function X
- The road ahead
Peko Wan, Chief Ecosystem Officer of Pundi X, who also joined the video session to share her insights.
If you miss the live session, you can watch it here: https://www.youtube.com/watch?v=max7y6gOm48
The Pundi X project was announced 3 years ago around this time. We have come from a small team to now a sizable yet still a startup team with people working in different timezones.
There will be events coming up to celebrate the anniversary, Crypto Gift is one on the list, and more events to come on our online shops.
PayPal included in XPOS®
After hosting a poll on Twitter to ask the community which payment service they’d like to see on XPOS®, we got the most selected winner — PayPal.
PayPal app facilitates the credit card transactions which is a huge plus to the XPOS® point-of-sales devices. The service covers more than 30 countries in a way that is similar to Pundi X’s coverage. We have had a communication with PayPal about the app inclusion and after much efforts of testing, PayPal is now officially listed in XPOS®.
XPOS app listed in PAX android app store
Thanks to the hard work of our distributors, XPOS app is now listed in PAX app store, which has one of the largest POS footprint in the world.
This is the enterprise-level initiative that we’re working on.
On-Chain deposit available on merchant/distributor portal
This is the long request from our merchants and distributors. We hear you, and here you are. Now, XPOS merchants and distributors can deposit USDT or DAI directly to their crypto sales account without waiting for another 48 hours for approval.
We offer 2 options, new merchants can choose off-chain deposit to start with, and then move to on-chain once they become familiar with the crypto transaction process. Our products will keep evolving with the user behaviors and feedback to bring more people to the crypto world.
Support for Wanchain’s ecosystem cross-chain assets XPOS
The partnership with Wanchain dates back 2 years ago and has been developing along the way. It started with Pundi X having a validator on Wanchain, and now we have listed WAN, wanBTC, wanETH and wanEOS in the Pundi X system.
We are happy that Wanchain can support the Pundi X ecosystem and we hope that the two companies will work together to develop more services in the near future.
For more information: Pundi X will support Wanchain’s cross-chain assets
Crypto Zoo now available on XWallet
This is the DApp that the community has been waiting for a long time. From its very first draft to the final appearance, we have been adjusting and changing the user interface and app functions with feedback from the internal team and community members. Now the Crypto Zoo Dapp is user-friendly and more engaging than before.
For those who wonder how you can make use of NPXS, Crypto Zoo is THE Dapp you need. There are regular discounts available for NPXS holders and benefits you can enjoy when making transactions with NPXS.
For more about Crypto Zoo: Insights on Crypto Bull & Crypto Bear
Compliance & Partners
Bitcoin ATM operator Equibytes joins XPOS family
One of the things that we always work hard on is to work with local partners who have the know-how of the markets. Equibytes has the experience rolling out BitCoin ATM machines in Canada and has now purchased XPOS and XPASS from us. We are really excited to work with them and look forward to starting the roll out in Canada and beyond.
More about Equibytesand Pundi X: Pundi X onboards Bitcoin ATM operator Equibytes in a step towards easier transactions
Collaboration with HYVE
HYVE has much experience in the crypto field and is especially active in Romania. With about 20+ thousands of XPASS cards and a considerable amount of XPOS purchased, we are excited to see HYVE putting focus on the deployment in Romania and more.
More about HYVE and Pundi X: Decentralized autonomous task marketplace HYVE collaborates with Pundi X in a move towards quick, easy cash-outs
Pundi X supports MakerDAO project in Ghana
Another thing we are super excited about is the collaboration with MakerDAO in Ghana. We have been working with Maker for quite some time now. The vision of Maker is to get more people to adopt cryptocurrency, which happens to be the same view as ours, so it was natural that we came together as partners.
We have worked together in the Latin American markets and now Maker is taking a step further with the initiative DAI agent network (DAN in short) in hope of encouraging more usage of DAI via local communities. The initiative is a match to what Pundi X is doing: encouraging more usage of XPOS devices.
We are starting this collaboration in Ghana and we are privileged to be supporting Maker in this initiative. Maker will push XPOS and XPASS deployment in Ghana, and Pundi X to promote DAI usage in XPOS.
For more information: Maker Foundation and Pundi X is set to unveil Dai-Agent network in Ghana
Pundi X 365 Joins the European AI Alliance
Pundi X 365 in Cyprus focusing on enterprise solutions recently joined the European AI alliance. With good relations with local business and government organizations, Pundi X 365 is pushing all kinds of initiatives to bring Pundi X and Function X out there in Europe.
Online Sales Channels
The daily activities of going out and shopping have been changed hugely due to COVID-19, going online is now more common than ever. Our team reacts to the situation quickly by setting up our online sales channels one by one. Now that we are on Amazon Japan, where our users in Japan can buy XPOS and XPASS cards with ease, and NewEgg Business, which provides quick delivery services to users in North America.
We also have launched our very own e-commerce portal https://shop.pundix.com which will progressively become more localized for users around the world to be able to purchase with your local currency and reduce shipment fee.
Pundi X Merchandise shop empowered by Origin Protocol
Most of the designs in Pundi X Merchandise shop are ideas from our community members. The designer can choose either to enjoy 1% earning of the swag’s sales price or burn the 1% earnings with NPXS tokens, which Pundi X will also remove another 1% from its total token supply.
For XWallet users, we have the payment option of paying with XWallet, this is also the initiative for XWallet employment in E-commerce sites.
The designs are super cool and every week we will have new awesome designs coming up. Come get the swag, help token burn and support the designers at https://merchandise.pundix.com/.
XPOS Merchants and users
Thank you to all our distributors and local staff to help activate XPOS merchants during this difficult time. The process of on-boarding the merchant is the harder part with the necessary compliance regulations to follow, therefore, we are very grateful for the efforts made by our members and merchants.
The countries of most crypto sales transactions are as below. This is the first time we see the UAE made to the list.
The countries of most crypto pay transactions are as below. We are happy to see the growth of BNB transaction of our long time partner Binance on the list.
The countries where the XWallet has most growth are as below:
The top 3 DApps on XWallet: Crypto Zoo, Lucky Spinner and Crypto/IDR.
Events and Marketing
Under the effects of COVID-19, many of the offline events were canceled. However, we still got to keep up with the vibe of the crypto world.
In August 2020, we had an idea presentation presented by the students of Singapore Polytechnic. Thinking blockchain will be the future and crypto be part of people’s lives, the students have shown us with the amazing creativity of marketing Pundi X.
At this moment we are here at the campus to educate the students of our products. Hopefully with the license granted, we’ll be able to take further our plans collaborating with more schools to make the young generation understand more about blockchain.
We also had the Distributor and Merchant workshops hosted by our LATAM team. The Distributor module is to help the distributors and master distributors to better understand the system.
We were also invited by InnoSquare, the incubator of New Taipei City Government, to join the live session alongside Deputy Mayor sharing startup experiences in Taiwan.
In Q3, many telegram AMA /livestream sessions were made with our partners and community members, including Binance, Kucoin, Lunar Crush, Crypto Universe and Maker Foundation. Big thank you to our local distributors for pushing so hard on promoting and deploying Pundi X products. Here we want to give our special kudos to BTC King actively engaging with US government-led organizations, Faster Payments Council (FPC) which is sponsored by the United States Federal Reserve and introduce Pundi X initiative to more people.
NPXS quarterly token removal (added)
In this quarter, we will remove 22,386,223 NPXS and 12,605,199 NPXSXEM.
The token removal will take place by Oct 10, 2020.
In Testnet 1.0, we had made becoming a validator on the blockchain easy for everyone, it was the first time such an easy and intuitive way was created. During the testing period, we had over 100,000 transactions made.
In Testnet 2.0, we have made it possible for anyone to create their own blockchain through simple clicks and drop on FX Cloud, which we believe is the first of its kind in the industry. You get to decide what you want to have on your blockchain, including who you want to invite to become a validator.
During the 10 days of launching Testnet 2.0, 30 blockchains were created, and it was because we only allowed 30 people to join the testing. Imagine when the mainnet launches, how many blockchains will be created.
Once the ecosystem of Function X mainnet is built, anyone who wishes to create their own private/public blockchain will need to stake FX tokens. And not just FX tokens will be utilized, as XPOS becoming nodes of FX mainnet, all of the financial transactions will go through the ecosystem and NPXS will play an essential role in this.
So the next question is, when will mainnet launch?
Our developers are working very hard on building the system and we hope to launch the fully functional mainnet in Q1 2021 and not earlier.
We’d also like to thank the community for helping out with testing Testnet 2.0. Your feedback and bug reports are truly helpful for us to build an even stronger system. Below are the bounty rewards we will announce on October 10, a total of about 32,000+ FX will be given.
We will continue to have bounty rewards for those of you actively participating in testing.
For more details, go to:
Function X: September Hash Out
How to create a blockchain in the Function X Testnet 2.0
What will mainnet bring?
Simply speaking, fast speed, low transaction fee.
The Road Ahead
We are very much focusing on deploying XPOS through our distributors, and partners such as Ingenico and PAX. These are large-scale deployments which take much more time on demoing and on-boarding new merchants.
Also, we are in discussion with one of the payment acquirers in LATAM and working on getting their POS system to accept XWallet.
These and alongside many others are the ongoing projects that may take more time to complete. We appreciate your patience with us and we are for sure putting down efforts to push these projects through.
Before 2020 ends, we’d like to achieve these goals to make it a good ending of the year. First of all, we anticipate to receive the Payment Service Act license issued by MAS (The Monetary Authority of Singapore) to allow us to operate in a very compliant way. The second one is XPOS deployment. Nonetheless, we are not just pushing the hardware of XPOS but also the software by working with big players.
The third one is Function X. Our developers are working super hard on this one. You have seen what Testnet can do with super high speed, the ability to create different blockchains and we believe it will definitely bring mass adoptions to the blockchain world.
Finally, we are constantly thinking of new use cases of NPXS whether through DeFi apps or online stores.
With all the efforts we have put and are continuing putting through, we hope to bring a nice closure to 2020 and an even better opening of 2021.
Roadmap contains forward-looking statements regarding Pundi X expected progress, future features and our business plans.
These statements reflect Pundi X current expectations with respect to future events; they are based on assumptions and are subject to risks, uncertainties and change at any time as the company operates in a changing regulatory environment and highly evolving technical space. Pundi X is obligated to comply with regulatory requirements or require permissions of new services, which may cause delay or transferring to other organizations to continue the newly developed services.
Given these risks and uncertainties, you are cautioned not to rely on these forward-looking statements. Actual results, performance or events may be different from what is predicted in the forward-looking statements.
The forward-looking statements cannot constitute technological, financial, investment, legal or other advice. Please consult with experts in appropriate areas before implementing or utilizing the forward-looking statements.