To facilitate a request from Binance to halt the minting function of our smart contract, we have decided to generate all possible future NPXS tokens before bring the ERC-20’s minting function to a close.
To facilitate a request from Binance to halt the minting function of our smart contract, we have decided to generate all possible future NPXS tokens before bring the ERC-20’s minting function to a close. The maximum supply of all NPXS tokens is now transparently visible. Pundi X is commited to having full transparency for better compliance.
All possible future NPXS tokens stored include monthly unlocked tokens, company reserved tokens and unswapped NPXS tokens.
Monthly unlocked tokens have been released to NPXS holders at the rate of 7.316% till December 2018; then 2.11637% in 2019; and 0.88187% in 2020. Holders will not receive unlocked tokens after January 31, 2021. These tokens are now stored in reserved addresses and will not be part of the circulating supply till they release on monthly basis as before.
Company reserved tokens are vested at the rate of 10% every month.
The percentage of monthly unlocked tokens was stated in our white paper.
What does it mean to NPXS holders?
For NPXS token holders, this does not change anything. The circulating supply remains as it is. Participants will continue to use and trade NPXS tokens as they used to. They will also continue to receive the unlocked tokens each month.
“Pre-minted tokens” is a commonly used phrase to describe tokens that are generated for future use. In Pundi X’s case, all pre-minted tokens tokens are stored in specified reserved address. These addresses are publicly viewable, enabling everyone to observe any remnants or transfer (if any) of the tokens, at the following locations.
The TEAM pool for founders and management
The TEAM pool for the company
The TEAM pool for advisors and marketing
The pool for all future monthly periodic token unlock
The swap address for old PXS tokens to NPXS tokens
We will be announcing the corresponding smart contract and start transferring pre-minted tokens into these addresses. The smart contract will be tasked with releasing the monthly unlock tokens to token holders.