Updated: October 23rd 2017.
This is an exhaustive Q&A list, it will be updated from time-to-time.
How many tokens will you raise?
Our hard cap is 280,000 ETHs.
Why do you need 280,000 ETHs?
We will need to spend between 30 mil to 210 mil USD for the roll out of 100,000 to 700,000 devices world wide, hence the 280,000 ETHs we plan to raise will be largely used for device roll out. The remainders will be funded via profits from cryptocurrency, goods and services profit from our Pundi X sales network.
How does the device look?
There is a separate blog post about this device.
What is the ROI of each device?
It costs 300USD per device, we plan to reach ROI in 12 months per device, which means we will need to make about 30 USD profit from each device every month. We will also have to factor in roll-out costs, more details on this.
How can you get the device so cheap?
Having a R&D team in the heart of China’s hardware manufacturing hub Shenzhen helps us to work with a team of great hardware manufacturers. Our Pundi X POS Device is built-to-order and highly configured, it can not available in the open market.
What is the Pundi X Pass card?
The Pundi X Pass card is a smart card. The card stores the cryptocurrency that user buys. It is secured through a unique QR code and a hidden unique pin, you will need both to access the card.
What are the black, gold, platinum, silver cards?
They are premium Pundi X Pass card and carries special discounts for our suporters.
What are the discounts like?
- Black Card (Ranked 1–50); 5% discount for 10 years；
- Diamond Card (Ranked 51–150); 5% discount for 5 years；
- Platinum card (Ranked 151–300); 5% discount for 3 years;
- Gold card (Ranked > 300; Contributed >10 ETH); 5% discount for 1 year.
I would like to partner with Pundi X for device roll out in my country.
We welcome partnerships, please drop us an email email@example.com
How different are you from Monaco, Tenx and change-bank?
These great teams allow purchasers to buy items using their cards, usually visa-powered. We allow users to buy cryptocurrency in a merchant such as convenience store. We are complementary to the above mentioned companies where users can also use cards provided by them to buy cryptocurrency using our Pundi X POS device.
How different are you from Bitcoin ATMs?
While we carry the same objective of distributing more bitcoins to the people, we are different in several ways. The diagram is an illustration.
What is the % raised from this public token sale?
We will raise 30% this round, 20% from public token sales and 10% reserved for founders, advisors, company and marketing costs.
What about the rest of the 70%?
The 70% will be tokens to be unlocked via proof-of-stake over three years.
How does the token unlock process work?
Token holders just need to sign a smart contract every six months (or less) to get all the tokens the user are entitled to. We will distibute 40% in the first year, 20% in the second, and 10% in the last. There will be no more tokens unlocked after the third year as we have reached the maximum tokens available of 100%.
How long do I have to wait to get the unlocked tokens?
You will get it on the first month after the conclusion of the token sale.
How does the math work for the tokens to be unlocked?
The entire incentive scheme will last for 3 years and the incentive percentage will discount 50% annually compared to the previous year. Therefore, the earlier the purchase, the better returns that PXS token holders will receive.
Can’t you just give examples?
Alice bought 1,000 PXS in this public token sale round, six months after the token sale she will receive a total of extra 527.52 PXS. In other words, her return in five months will be another extra 50% of tokens
Bob bought 1,000 PXS twelve months after the token sale he will receive a total of 285.7 PXS. In other words, his return in twelve months will be an extra 28% of tokens, Not bad, but much less than Alice.
Alan bought 1,000 PXS three years after the token sale he will receive no extra tokens
I want more details about this token sale.
Please read our white paper.
I want more details about the pre-token sale.
There is a dedicated blog post about pre token sale information.
Where do I purchase?
You are able to purchase directly from our website https://www.pundix.com.
Can I purchase elsewhere?
To protect your safety from scammers the only place you can purchase is https://www.pundix.com
When can I purchase?
KYC registration starts on 4th October 10:00 GMT+8, and pre token sale will start on 7th October 10:00 GMT+8. Token sale starts on November 20th 10:00 GMT+8.
What is the KYC process?
You will be asked questions to protect you and your purchases. The questions includes your name, age, risk appetite and others. This step will take 5 minutes and is in compliant with our Isle of Man’s Financial Service Authority rule including Virtual Currency guidelines.
How long is the KYC open for?
Purchasers have to register in our website to go through the KYC process approval (usually less than 24 hours) before you can start purchasing. KYC process will be open from 4th October until the token sale concludes.
Which exchanges are listing PXS tokens?
We are in late stage of discussion with a few exchanges, and we promise that users will be able to trade in one major exchange in less than a month after the token sale concludes
Why the total amount raised will be no more than 3.33333 times the total tokens?
the maximum tokens possible from this token sale including for the founders, company, advisors and marketing cost will be 210,000,000, and the total tokens available ever will be 700,000,000, hence the amount from total supply is 3.3333 times from this token sale.
Where are you guys located?
Our team is based in Jakarta, Indonesia and Shenzhen, China Jakarta is our management and operations centre with 15 staff Shenzhen is our R&D centre where 14 staff are based.
How long have you guys been operational?
The Pundi X team have launched Pundi-Pundi since February 2017 and has accummulated >100,000 downloads since with 500 merchants using cashless payment system with us. We will be converting these merchants into our Pundi X POS device merchants.
Who are the founders?
How do you prevent speculation?
While we cannot control the actions of purchasers, we have institutionalized an unlock ratio to prevent short term speculation. The token-unlock ratio will be skewed towards the earlier month and diminishes each month. The average is about 40% in year one, 20% year two and 10% year three.
How compliant is this token sale?
As a registered company in the Isle of Man, we adhere to the Isle of Man’s Financial Service Authority rule by complying with the Virtual Currency Business’s Sector Specific AML/CFT Guidance Notes; 2012 Digital Data Protection Act; 2006 Companies Act 1996 Transfer of Securities Act and 2009 Anti Money Laundering Guideline Notes; Know Your Customer Best Practice Guidance Notes; and other relevant regulations.
Where are the chat rooms?
Here is the Pundi X social media.