On Feb 1, we observed an unusual increasing volume of PXS (around 9 million PXS tokens) on unauthorized platforms and suspended the planned token split. Thank you for the support from those who understood the potential damage that might bring to the new token holders and severe consequences that would jeopardize the future development of our project, if we did not halt the split in time.
For the past few days, I sat down with the team and discussed the possible solutions. To make sure we can execute the token split in a way to protect both the public and community interest, it came to a conclusion that the timing for the split will be after PXS hits the exchange.
We have already been in talks with several exchange platforms and decided the timeframe to list PXS. One of them will be in late February and we have to proceed without any further delay. On the other hand, we need more time to set up the mechanism to make sure we perform the token split properly.
Pundi X is a project that aims to solve the last mile challenge for access to reliable and trusted financial services for the next billion, by enabling wide cryptocurrency adoption via our POS solutions. The project has already been well received by the stakeholders worldwide. Earlier this week, our partners launched XPOT, a sub-brand of Pundi X POS device, in China and will plan to expand the market in Thailand. We want to make sure the project a long-term and a sustainable one.
Hope you understand our intention and feel free to share your feedback with us.
Chief Executive Officer and Co-Founder