Dear Pundians,

As announced in mid March, 20th September 2018 is the last day of PXS / PXSXEM to NPXS / NPXSXEM swap. This means PXS and PXSXEM lose all their utilities after the swap deadline. PXS and PXSXEM Owners cannot swap their old tokens for the new ones. They will not be able to get monthly unlocked tokens, either.

As of September 27, the total remaining unswapped PXS tokens is around 3,081,390.191 which is equivalent to 3,081,390,191 NPXS. And the total remaining unswapped PXSXEM tokens is 600,981.445686 which equivalent to 600,981,445.686 NPXSXEM. However, we found that there were a few swaps done right after the deadline. For these transactions, we decide we still accept and process them until September 30, 2018.

For the unswapped tokens, after discussing with the team and the legal counsel, the team has come to the conclusion as below:

  1. For the PXS tokens accidentally sent to NPXS smart contract, we will return the NPXS tokens to their original sending addresses from the unswapped token reserved pool. A total of 92,678,196 NPXS will be deducted from the final amount of the unswapped tokens.
  2. We will divide the remaining unswapped tokens into four parts. They will be used for marketing budget to activate XPOS merchants, corporate social responsibility, risk management and community building for utilization.
  3. The remaining tokens stated in (2) will be kept in four different multi- signature wallets for respective purposes which held by the team and the third parties.
  4. These tokens are kept in the reserved wallet addresses, which are excluded from receiving monthly unlocked tokens.

As transparency is our motto, we will disclose the wallet addresses in this post once all the allocations are in place so that all the community members can monitor how these unclaimed tokens will be used in the future.

For those who sent non-PXS tokens to our swap address by mistake, we are also returning them to their respective original sending wallet addresses based on requests.


Pundi X Team

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