Zac: Proposal for a Pundi X Reward token

Hi team,

This forum is a breath of fresh air. A proposal that came out from the forum thread here and here is to create a reward-based token for PUNDIX holders. Let’s brainstorm.

A Reward token allows users to participate in NFT auction and airdrop, discount vouchers, gamification items, collectibles and more. This reward token will benefit active token holders because to claim the reward token one has to move $PUNDIX from ERC-20 into Function X and stake. We may bridge the reward token to BEP20 to take advantage of Binance’s ecosystem.

I propose to NOT have any team allocation and all minted token will go to the community. What we want is for active $PUNDIX hodlers to stake and own it. Nothing is set on stone, and at this point, the reward token is just an idea.

What yall think?



**** 2nd June updates ******

Key talking points.

  • Reward token rewards $PUNDIX hodlers. It also incentivizes XPOS usage, expands Pundi X Chain’s ecosystem, and increases $PUNDIX value.

  • Reward token exists in BEP20 & Function X. With initial supply airdrop/claim in BEP20 and subsequent staking in Function X. Supports cross-chain between Function X and Binance Smart Chain.

  • Reward token will be used as rewards, gamification (lucky draw / lottery), discount voucher, redemption for NFTs and other tokens. Such rewards are in Pundi X Chain and BEP20.

  • $NPXSXEM will be fully absorbed into reward token, thus sunsetting $NPXSXEM totally.

  • No preminted or allocation in any form for team. All initial supply goes to absorbing $NPXSXEM tokens and distribution to $PUNDIX holders. Subsequent reward tokens are claimable via fair staking in Function X. Reward token are bridged between BEP20 and Function X.

  • Proposed initial supply created in BEP20

Number of token %
Fully absorbs $NPXSXEM (1:1) 44,762,598,386.83 69.94%
Distribution to $PUNDIX holders 19,237,401,613.17 30.06%
Initial total supply 64,000,000,000.00
  • After the initial supply $PUNDIX holders will be able to stake $PUNDIX for reward tokens.
  • Tokenomy adopts the BDL model, which is Transfer = Burn + Distribution +Liquidity (‘BDL’). It is not meant for speculation but will have a deflationary mechanism designed in place.

These are proposed points to be discussed and nothing is fixed. Once decided there will be an official announcement (which means final announcement won’t be in the thread).



**** 5th June updates ******

Here’s the Request-for-Comment for the new Pundi X Reward Token. This forum is the place to discuss and debate it.

23 Likes

I really like the idea of a PUNDIxR ( hint for any PUNDIX reward token name) in the form of a NFT token.

I have to dive into the whole NFT matter and any usecases. Only know in broad lines what it is.

But maybe the PUNDIxR can stand for instance for storage of your data (photos, files etc) on a secure fx blockchain erea or something like that.
So earn storage with PUNDIxR.

Or earn PUNDIxR as free shopping credits on the functionx/pundix shopping website.
So you can pay your goods with PUNDIxR, if the artist ofcourse accepts the reward token.
The artist will benefits the token for 100%.

3 Likes

The name of reward token is $PUR (PUndix Reward), this is my suggestion, more simple I think.

2 Likes

Since we already have an internal draft proposal, we can polish up and share it as RFC (Request for Comment).

To @Jan The reward token is not itself an NFT, but the right to redeem NFTs. Think loyalty point redemption.

$PUNDIXR (@Jan) $PUR (@nomo0808) $PUNDIR (@ClaudioxBarros) and $PR (@zaccheah) are some of the names suggested.

4 Likes

I like the idea of a reward token, also I like the idea of longer you commit to staking a token the better the interest. So if you commit for one month you get 1 token but if you commit for one year you get 24 tokens(basically double interest).
Also if you pull out of staking early you should lose all the rewards just like at a bank.

I would recommend a two month term option with low Interest and a 12 and 24 month option with high interest and a floating option with a significantly lower interest.

Or you could have two tokens
One for short term loans and you get both for long term.

My point is that if the incentive is enough people will stake for a long time.

5 Likes

my suggestion $PUR is reward for staking to govern the system, not for loan interest on defi lending.

2 Likes

I suggest to name this $PURSE.

yes but the competition must also be taken into account because if some others offer better conditions, too strict conditions can only deter people from holding.

I like the idea of it if it could be only traded for NFT, goodies, collectibles and other things. As long as it is tradeable for those sort of things and not for money value. Then with sort of commitment options as earlier said here.

1 Like

I like the idea of a tradable token, which doesn‘t have a monetized value in itself but a value in the NFT world. PundiXr would be my suggestions or anything in which the X is used :slight_smile:

1 Like

Agree that this forum is a breath of fresh air!

Great to have the opportunity to throw some ideas up, see some positive and constructive feedback, AND have the team engage with the community, can’t say how much I appreciate this!

Thanks Zac for suggesting this idea. I really like the idea of a new reward token but I have to say that I’m not a fan of the whole NFT space, I feel it’s too discretionary in nature and is heavily weighted towards store of value versus utility value.

What would be revolutionary is the idea of a PundiX reward token tied to carbon sequestration and/or environmental sustainability credits. This area is set to become a multi trillion dollar industry very soon with carbon markets growing rapidly worldwide as Climate Change becomes a major priority for global organisations. I think PundiX is a genuine contender to be included as one of the few projects that can leverage this opportunity.

I’m not a blockchain specialist and I haven’t got the skills that you all do to help design a model to make it work. But I am a global agriculture specialist in my other life and I am 100% certain that there is a gargantuan opportunity for PundiX in the Carbon/sustainability space.

It might justify another thread but well worth considering with further discussion?

5 Likes

Key talking points.

  • Reward token rewards $PUNDIX hodlers. It also incentivizes XPOS usage, expands Pundi X Chain’s ecosystem, and increases $PUNDIX value.

  • Reward token exists in BEP20 & Function X. With initial supply airdrop/claim in BEP20 and subsequent staking in Function X. Supports cross-chain between Function X and Binance Smart Chain.

  • Reward token will be used as rewards, gamification (lucky draw / lottery), discount voucher, redemption for NFTs and other tokens. Such rewards are in Pundi X Chain and BEP20.

  • $NPXSXEM will be fully absorbed into reward token, thus sunsetting $NPXSXEM totally.

  • No preminted or allocation in any form for team. All initial supply goes to absorbing $NPXSXEM tokens and distribution to $PUNDIX holders. Subsequent reward tokens are claimable via fair staking in Function X. Reward token are bridged between BEP20 and Function X.

  • Proposed initial supply created in BEP20

Number of token %
Fully absorbs $NPXSXEM (1:1) 44,762,598,386.83 69.94%
Distribution to $PUNDIX holders 19,237,401,613.17 30.06%
Initial total supply 64,000,000,000.00
  • After the initial supply $PUNDIX holders will be able to stake $PUNDIX for reward tokens.
  • Tokenomy adopts the BDL model, which is Transfer = Burn + Distribution +Liquidity (‘BDL’). It is not meant for speculation but will have a deflationary mechanism designed in place.

These are proposed points to be discussed and nothing is fixed. Once decided there will be an official announcement (which means final announcement won’t be in the thread).

8 Likes

$PUR is a good name for the token but the total supply should be low. My suggestion

I like $PR or $PURSE more.

2 Likes

I like the southern touch on the end. I like that last proposal. Still trying to get info on our NFT group associated with us. I have 2 artists ready to go. Their paintings sell for $1+ thousand each.

Dear sir, so how should we do it, is there any specific instructions. Or do I understand that I will receive automatically on binance corresponding to the amount of pundix$ that I am holding?

Earlier i suggested to be the name of the Reward token to be PUNDxR.

My opinion is that PUNDIX should always be in the name for recognisibility and uniformity.

Maybe there wil be more coins or tokens in future.
So in mho always start with PUNDIx (with small x) and then first letter of usecase token.

PUNDIxR(eward), PUNDIxX(em), PUNDIxW(et) etc.

In that way everybody nows its a PUNDIX product cq coin/token.

1 Like

And about the whole NFT thing:

Would it be possible as an example to use reward tokens for NFT token in wich the NFT stands for some storage area on the fxchain for, lets say, my stockphotos?

Example:
I earned 1000 tokens and redeem to 1 NFT aka 100Mb storage.
I earned 50000 tokens and redeam to 1 NFT aka 5Gb storage.
Etc.

In that way I can store my stockphotos in a secure area and the copyright infringement at same time is secure.
I can choose to exibit some of my photos with possibility to sell to others for NFT coin or Reward tokens.

I have no idea if all this is possible, but my guess is that it could be a use case wich many would like.

3 Likes

PxR only with “x” should be considered

I would like to see a poll later about the name of the reward token.

So many great suggestions but only one can win.