Blockchain developers and businesses can now list ERC20 tokens on XPOS, XWallet, and request for custom-made virtual and physical XPASS cards.

Introduced on May 1, the Pundi X Open Platform enables custom ERC20 digital token listing within the XPOS, XWallet and XPASS, is now available ahead of schedule! Companies, blockchain developers and merchants can begin signing up for an Open Platform account to list their ERC20 tokens and customized XPASS cards. The option to create customized XPASS cards will be available to all successful custom token listers.

Currently, we are working with blockchain developers and businesses which have already purchased XPOS devices and XPASS cards for their deployment in several countries, to list their tokens via the Open Platform. We welcome more ERC20 token issuers to list their tokens on this platform, and expand the use cases and utility of their tokens.

In this blog post, you will learn how to complete the listing process on Open Platform with 5 easy steps. Read on!

1. Register a developer account

Go to Pundi X Open Platform (https://developer.pundix.com/login) via the computer browser and click “Sign up”. To provide an extra layer of security, you will be required to enable Google Authenticator for your Open Platform account. Click here to learn how.

2. Fill in the token information

After successfully login to the account page, you will see the image above. Now you can start the process of listing your token. Follow the details here.

3. Click ‘Submit’ to have your token info for review

After your info is successfully submitted, the review process by the Pundi X team will take 3 to 5 working days. Upon completion of the review process, the result will be sent to your email.

4. Deposit tokens for liquidity

Once your token is approved, you will require to deposit a certain amount of NPXS, ETH and your custom token to form the liquidity pool. Transfer the correct amount of the deposit to the ERC20 address stated in your Open Platform account.

Please note that once the deposit of ETH arrives to your Open Platform account, it will be exchanged immediately to USDT at the real-time exchange rate. The USDT pool (converted from ETH) and custom ERC20 token pool will act as the liquidity pool so that users can buy and sell the listed custom ERC20 token.

For example: assume a token called “StarToken” successfully listed on the Open Platform. Users will be able to buy the StarTokens from the XPOS merchants. Regardless of what the users have used to purchase the “StarToken”, the crypto or value paid to buy “StarToken” will be converted into the USDT pool (which enlarges the USDT pool) and users will receive the “StarToken” from the custom token pool (which reduces the custom token pool). If a user wants to spend the “StarToken”, the custom token pool will increase and the USDT pool will decrease. Successful token listers can apply to withdraw from the pool if they choose to delist their custom tokens.

The NPXS pool is used when users transferred the custom token out of the Pundi X ecosystem.

5. Final review and create your custom XPASS card

The final review will be completed within 3 to 5 working days. You will get the notification of the result via email.

After the token successfully passes the final review, developers can also create a corresponding card on the Open Platform to integrate the custom token into a custom XPASS card. The custom XPASS card is similar to the generic XPASS card except that it supports customized designs.

Please note that the Open Platform currently available is considered to be in beta version. More functionalities and features will be added to Open Platform in time to come. As usual, we welcome all your feedback and suggestions. Please send them to bd [at] pundix.com.