35 million US dollar hardcap of public sale reached!
January 21 is the busiest Sunday ever for all the Pundi X members. It is the day we kicked off our public token sale. We are very fortunate to receive a lot of recognition and support of the Pundi X project. Before the start of our pubic sale, we have received many inquiries from our community about setting a lower individual hard cap so that more people can join. Therefore, we imposed an individual hard cap of 5 ETH per user in the first 18 hours of the sales.
The sale reached its hard cap of 35 million US dollars in less than 90 minutes, which we had to end the public sale much earlier than we expected. Over 6,000 transactions took place in the first five minutes after the public sale started. Due to the intensity of our transactions, half of total Ethereum blockchain traffic was from Pundi X. It also caused the gas price of Ethereum blockchain to increased to 60.
We found that some purchasers set the gas price to 3. This has caused a delay despite that they have sent the transactions during the sales. On the other hand, some participants have already retrieved their unique-purchase ETH addresses and sent it after we announced the end of the public sale. Therefore, we have decided to accept all these participants. In total, there were another 2388 purchasers who participated in this crowd sale because of low gas price and late submissions, making the total participants be 11,788 (9400+2388).
We have decided to accept the transactions of these 2,388 purchasers because they have sent funds before token sale or have retrieved their purchase address before the conclusion of token sale. The fund we received is in line with the hardcap we set which is + — 20% of 35 million US dollars subject to the ETH price fluctuation. (see: calculation)
How did it all start? Four months ago, we started the Pundi X project with a mission of bringing cryptocurrencies to mainstream adoption, by integrating blockchain technology with a Point Of Sale (POS) solution so that physical store owners can use either cryptocurrency or fiat money to complete transactions on the blockchain. The team has built three types of working products for different use cases. We also presented our solutions to our potential partners in Australia, China, Hong Kong, Japan, India, Indonesia, Korea, Singapore, Switzerland, Dubai, UK, and the USA.
Before our public sale, strategic purchasers have and continue joining Pundi X. They come from both the blockchain (Disclosure: Digix, Qtum, AChain, NEM, Ian Balina) and other industry heavy hitters (Disclosure: soon). Some joined as both purchasers and token holders.
Stats of Pundi X public token sale
Combining the participants from pre-sale, extended pre-sale and public token sales, we have 11,788 individual purchasers in total joining and purchasing in Pundi X public crowd sale. More stats break down as follows:
30,000+ whitelisted participants
6,000+ transaction in the first five minutes after the token sale starts
86,000+ Facebook followers
20,000+ Telegram followers (Official group and news channel)
12,000+ Twitter followers
Sales value in US dollars
Pre-token sale and Extended Pre-token sale: $USD 17 million. (see: calculation)
Token sale: $USD 23 million (see: note below )
Total Amount: $USD 40 million.
Participants with the successful transaction will receive PXS tokens no later than 72 hours after the conclusion of the token sale. You can check your transaction status here.
Participants who contributed more than 5 ETH will get a refund of the excessive amount. We will provide a refund inquiry site for participants to check and process their refund later this week.
Beware of the scams
Since Pundi X public token sale became one of the popular token sales, we saw scammers approaching people in the names of Pundi X employees, Pundi X advisors, and Pundi X official Telegram group admins. They usually use similar names with an extra character or one character different than the original name.
Scammers also emailed people randomly and claimed they were from Pundi X and asked you to transfer funds. Please do not transfer any funds to anyone, any site etc. The token sale has concluded and there is no more token offering.
There are also fake websites using Pundi X name. We have to remind you again that do not take these offers. Pundi X has only one official site, https://www.pundix.com. Stay safe!
Note: Pricing is based on CoinMarketCap on 18th January 2018. Our hardcap has a plus minus 20% float on the price as our hardcap is set in USD.
Note: We closed our token sale API on 22nd January 23:59 GMT+8. If there are transactions, however unlikely, directed at our ETH addresses, we will have no means of accepting or rejecting it as there is no connection to respond to by our side. Lost funds are not our responsibility. Please take caution.