- 65 percent of the f(x) tokens are allocated to holders of NPXS and NPXSXEM
- The migration will facilitate faster speeds, scalability, and consensus
- The company will host an AMA session on Reddit soon
The PundiX team has made plans for executing the f(x) token removal as planned. The new blockchain ecosystem is intended to bring faster speeds, openness, scalability, and consensus.
NPXS and NPXSXEM Holders to Receive Airdrops
The token allocation plan, according to a Medium blog post on January 18, 2019, states that all holders of NPXS and NPXSXEM will have the privilege of choosing their preferred mode of receiving the f(x) tokens out of which 65 percent of the tokens generated from TGE has been reserved for them. The statement clarified the motivation behind the migration:
“Demand from merchants and customers for instant, on-chain transactions combined with our growth trajectory have led us to search for a blockchain that can service a truly global payment network. That led us to innovate a blockchain ecosystem that can deliver 10-fold gains in speed, openness, scalability, and consensus.”
According to the statement, 15% of all f(x) tokens will be staked to be received by all NPXS/NPXSXEM holders and which will be deposited directly into their XWallet to enable them join the distribution scheme between 10:00 am GMT+8 on March 10, 2019, to 9:59 am GMT+8 on March 9, 2020. At the expiry of this period, they will transfer any unclaimed stakes into an Ecosystem Genesis Fund after 12 months.
The statement further says a further 45% f(x) tokens will belong to qualified holders who will be able to convert their NPXS / NPXSXEM tokens to f(x) tokens before they remove all the converted tokens from the NPXS/NPXSXEM total supply; the process is slated to take three months beginning from April/May 2019. Further to that, all the converted NPXS / NPXSXEM will also be entitled to the 15% f(x) Tokens distribution right after the conversion while there will be an extra 5% bonus available for all the NPXS/NPXSXEM holders to claim at a later date. The company will however not convert its own NPXS for f(x) Tokens.
The Pundi x token removal plan was successfully executed as planned on January 3, 2019, when approximately 9.7 billion tokens comprising 5,7 billion NPXS and 4 billion NPXSXEM tokens were permanently removed from the supply. The company planned to give the finer details of the plan on January 18, 2019, when the details of the f(x) tokenomics were successfully finalized. The team has planned to host an Ask Me Anything (AMA) session on Saturday, January 19, 2019, where they plan to answer all burning questions from users and stakeholders.