Dear NEMbers,

When we launched the NPXSXEM project with raising 17 million US dollars of funding from public and private placement, we committed to the progressive issuing of a total supply of approximately 106 billion* NPXSXEM after the unlock schedule is completed in December 2020.

Due to a limitation in the NEM blockchain that prevents the issuance of smart contracts larger than 9 billion tokens, we expect to integrate more required smart contracts for the release of the unlocked tokens to the NPXSXEM holders.

Currently exchanges listed NPXSXEM such as Kryptono and Hotbit have not integrated all required smart contracts as some PXSXEM holders do not swap yet.

This means that to continue our unlock distribution program for all NPXSXEM holders (assume 100% of the holders have swapped) we will need exchanges to expand our smart contracts to further accommodate the ongoing unlock of NPXSXEM tokens. We make sure that this will not affect the interest of the NPXSXEM token holders but minor administrative changes will be made.

For example, those who receive unlocks from the first dedicated smart contract will be able to continue to receive them from the third dedicated contract should they need to change their exchange or otherwise change the arrangements by which they hold NPXSXEM.

All holders will enjoy the same utilities of NPXSXEM

We continue to note the growing success of the NPXSXEM project and expect it will be wholly unaffected by what are, essentially, administrative changes.

At Pundi X, transparency is our motto and it should be no cause for concern or even notice for most token holders of NPXSXEM.

For complete disclosure we make the following available, figures covering the current, unlocked token-adjusted and final token supplies of NPXSXEM.

Screen Shot 2018-09-01 at 11.57.53 AM

Complete your swap before September 20, 2018

As of today, we found that about 70% of PXSXEM holders do not swap for NPXSXEM yet since we announced in April. A gentle reminder that the deadline of the swap will be at 23:59:59 SGT (GMT+8) on September 20, 2018. If you do not manage to swap for the new tokens, you will lose all the utilities of PXSXEM after September 20.

Here is the instruction for the PXSXEM swap:

*Note: Total token supply rises 3.33 times from 42,496,668,583 to the December 2020 figure after the completion of unlocking the token.