In July we rolled out a series of activities engaging the community and disclosing the development of Pundi X Chain. Our XPOS distributor OVO has officially launched the service in Turkey and introduced a new business model for merchants that is able to comply with local regulations and boost the confidence of users to adopt crypto through physical stores.
Here’s a detailed overview regarding our monthly work progress:
Pundi X Chain development
We’ve revealed the plan of developing the Pundi X Chain, a payment blockchain in the Function X network. With the launch of Function X mainnet, we are able to level up our crypto payment solution to further realize the vision of making affordable financial service more accessible to the unbanked population via the XPOS platform in a decentralized way.
Here are some of the features of Pundi X Chain we are developing:
- High throughput
- Low transaction fees
- Low latency
- Points of Sale compatible
- Incentives for merchants and payment processors
Moreover, we’ve proposed a Pundi X Reward token to boost network growth, give back to Pundi X holders and contributors, and boost usage of the upcoming Pundi X Chain. It will support Binance Smart Chain.
PUNDIX token holders will be able to claim Pundi X Reward tokens while NPXSXEM holders will be able to migrate their tokens to the reward token at 1:1 ratio. The reward token is not meant for speculation but acts as a loyalty token. Therefore, a token lockup mechanism and BDL (burn, distribute and liquidity) mechanism are imposed. For more details, you can refer to the announcement here.
deXPOS is the “decentralized” version of XPOS app. It’s built upon the infrastructure of the Function X blockchain network, enabling XPOS to process crypto payments and crypto sales onchain, making it faster and more cost-effective.
The app is now in Beta 1.0 version. Let’s have a sneak peek of what the current development is.
· Language support: English
· Features include: An XPOS device installed with deXPOS can scan a QR code to connect with f(x)Wallet (currently available on iOS only); set up merchant information on f(x)Wallet after connected; receive on-chain payment using fxUSD; get notifications when fxUSD payment is received; and print receipts after the payment is confirmed.
More testing needs to be done before we roll out the deXPOS app. Stay tuned for more updates!
First XPOS Crypto Exchange Store in Turkey
New XPOS distributor OVO Dijital Servisler A.S., a platform-as-a-solution-company, opened up the first XPOS crypto exchange store in Istanbul, on July 8, 2021.
Business owners in Turkey are able to open a crypto exchange store with an easy, quick “starter pack” containing complete technological infrastructures, branded store front and marketing materials. Great for seasoned traders and also provides a place for first-time crypto users to learn more about cryptocurrency in person.
Read more here:
XPOS Donations to El Salvador
A total of 170 Free XPOS are available for merchants in El Salvador, 50 were donated by @MakerDao, 20 from @uidabban and 100 from Pundi X. We are grateful for the generosity of our partner and community members to join the efforts with us to make it happen.
The XPOS units will be utilized for crypto transactions in the retail stores located at Bitcoin Beach. Currently we are working with government officials in El Salvador to complete all the necessary procedures.
XPOS Handy listed in Amazon Japan
In July, we registered for XPOS Handy on Amazon Japan. Now it has been approved and is now available for sale. Once ordered, the shipment will be dispatched directly from the Pundi X Japan office.
XPOS Transaction Mining
The 1st warm-up activity of the XPOS Transaction Mining Program was held from 28th June 2021 to 2nd July. During this period, merchants were able to earn DAI through making transactions. The mining awards were distributed to the merchants’ crypto sale accounts on 5th July 2021.
If you missed the preview, you can visit this link below to learn more about this program:
Q & A Session with Chainlink
Pundi X President Constantin Papadimitriou attended the live Q&A session hosted by our blockchain partner Chainlink Indonesia on 23rd July 2021. Here is the link to watch this video session.
Pundi X Special Edition Comic Book and NFT Giveaway
Collaborating with Dulće + Allies, we held a special edition of the Adoption comic book giveaway campaign in June. Fifty winners were selected, announced and contacted to receive the special edition comic book. The adoption team sent out the award in July. We look forward to seeing the winners receive these special version comic books and sharing the unboxing experience with us!
Behind-the-Counter Podcast: Function X mainnet launch in a nutshell
The third episode of Pundi X Podcast focuses on the stages of Function X mainnet launch with the help of our community member Alchimist.
Q2 2021 Progress Report
On 9th July, 2021, we held the Q2 progress report an AMA session. The highlights included:
- LATAM market trend and expansion progress
- XPOS mining trial and Q2 updates on top crypto transacted and countries
- Pundi X Chain and Pundi X reward token introduction
- Q2 token removal date and Q3 outlook
Check out more at the summary below:
Q2 Token Removal
Token removal amounting to 7,107.231 Pundi X and 8,233,411.37 NPXSXEM was conducted, permanently removing the amount from the total supply on 16th July, 2021. The total supply of PUNDIX is now 258,484,530.000924396 and the total supply of NPXSXEM is 44,754,364,975.46. Here are the details of the execution: https://medium.com/pundix/q2-2021-token-removal-report-57b154a33d85
A total value of over USD$50 million in tokens has been removed from 2018 up to this date.
XWallet Daily Sign-in Rewards Conclusion
XWallet daily sign-in activity ended on July 9th, 2021. If you have missed the announcement, you still have the chance to claim your reward tokens before 31 August, 2021. The Extra page will be removed from the XWallet App on 1st September, 2021.
Find more information here: Notice of the Daily Sign-in activity on Extra page in XWallet
On 16th July, we participated in a Twitter Space chat with the crypto influencers from the Arabic speaking community. We’d like to thank you for having us to share our progress and introduce Pundi X to more people.
That sums up the progress we’ve have had in July. Our progress is going smoothly as expected. From Pundi X Chain development to ongoing XPOS distribution, we remain focused on continuous development, increasing in growth, partnerships, and adapting to trends and changes in the crypto world.
In some regions, it’s the summer season. We hope you enjoy the sun and stay safe as always. See you next month.