Dear Pundians, Thank you for joining our Q3 2023 Progress Report. For those who couldn’t join it live, you can watch the video version by visiting our YouTube Channel. Pundi X Q3 2023 Progress Report http://www.youtube.com In this report, we covered the tech developments of XPOS, rollouts, partnerships, events, updates regarding PURSE, and some exciting news in the Q4 outlook. […]
Dear Pundians,
Thank you for joining our Q3 2023 Progress Report. For those who couldn’t join it live, you can watch the video version by visiting our YouTube Channel.
In this report, we covered the tech developments of XPOS, rollouts, partnerships, events, updates regarding PURSE, and some exciting news in the Q4 outlook. Let’s take a look!
Previously, merchants could only specify the fiat value when selling crypto; now, merchants can directly input the crypto amount.
In addition to this, XPOS supports most popular chains transacting USDT, which include BNB Smart Chain, Tron Network, and now Ethereum. USDT ERC-20 transactions are now available for both payments and purchasing using any decentralized blockchain wallets.
A new token is coming on XPOS. Please follow our social media for the launch.
The master franchisee, Pundi X Türkiye, is expanding the business to the Middle East and Central Asian regions while opening more Pundi X physical cryptocurrency exchanges in Türkiye.
All the PEX in Türkiye can be found on the revamped Pundi X Türkiye website.
More stores are joining the Pundi X South Africa family. Customers can now not only purchase gold coins with cryptocurrency but also diamond rings and trendy items.
XPOS was used in the Innocent Music Experience hosted in South Africa, providing the eventgoers a chance to experience crypto transactions while enjoying the party.
In Q3 2023, the total transaction volume of USDT TRC-20 increased by 47%. According to our franchisee in Türkiye, most transactions happening in the PEX via XPOS are USDT on TRON network.
Statistics about XPOS transactions in Q3 2023
Following the increased number of USDT TRC-20, in Q3 2023, the top countries that use crypto pay are Türkiye, South Africa, France, Uganda, and USA. The tokens most used to pay are USDT, ETH, BTC, PUNDIX, and FX.
As for Crypto sales, the number one country is Türkiye, followed by South Africa, USA, Uganda, and Honduras. The top tokens bought are USDT, BTC, PUNDIX, BNB, and ETH.
For every $PURSE transaction, a 20% tax has been deducted. It is called the BDL mechanism, which reduces the transaction frequency of $PURSE tokens. Based on the community’s feedback, the BDL Mechanism of $PURSE tokens is now removed. For details of the BDL removal, visit the announcement here.
838M $PURSE reward was distributed for $PURSE token holders.
A total of over 6.6 billion $PURSE tokens were burned.
The future plan
$PURSE is the loyalty token in the Pundi X ecosystem and can be earned by delegating PUNDIX on the Pundi X Chain as delegation rewards. With the removal of the BDL mechanism, we’d like to take a step further by making $PURSE the largest physical merchant crypto network, helping merchants equip themselves with crypto facilities and become crypto-enabled, including accepting crypto as payment, tokenizing loyalty points, and launching fan tokens, among other services.
Here are the steps we’d like to take to achieve the goal.
In light of the transformation of $PURSE, the team is planning to submit a community airdrop proposal on the Pundi X Chain to revitalize the ecosystem.
2. Increase the staking reward rate for users who are contributing liquidity. This is because BDL has been removed.
3. Retire BUSD and replace it with USDT on Pancakeswap and CUSD on f(x)Swap
4. Cap the total supply.
Make sure to follow PURSE twitter for close updates.
In Q3, 2023, Pundi X co-hosted/participated in many events worldwide, actively showing our endeavor to constantly BUIDL in the crypto space.
Pundi X Japan has shown much presence on different crypto-friendly occasions. Thanks to the efforts of Nanna-san, our Pundi X team member in Japan to keep pushing the important groundwork of crypto education.
The PUNDIX-USD trading pair is now available on Coinbase Exchange.
Dig out more about the crypto payments status in South Africa with our Chief Liaison Office, Sri Balan, our South African franchisee, Daniel Katz, and special guest Paddy at Pundi X Podcast S3E5.
We’re giving away BTC sats because it’s SATSday! On irregular Saturdays, a surprise giveaway campaign may drop on to Pundi X social media and with simple steps, you can become one of the winners to get free sats! Make sure to follow and participate.
The warm-up campaign to kick start the PUNDIX6 celebration and give away free $PURSE & an exclusive Pundi X 6th Anniversary backpack is concluded. Thank you all for your participation.
Following up with the start of Pundi X 6th anniversary, the team took the celebration to Istanbul, Türkiye, where our long-term partner, Pundi X Türkiye, and the physical Pundi X exchange stores are.
Quoting one of the team members visiting the PEX for the first time, it was a “very emotional moment”. From the initial contact with the franchisee during the COVID-19 period till now, seeing the blooming of PEX all over Türkiye, it has been a long but fruitful journey, and we believe that the journey shall continue.
On October 3, 2023, Pundi X along with Hakan Akyüz, Managing Director & Co-Founder of OVO Dijital Servisler held the Global Fintech Panel with speakers Zac Cheah, CEO & Co-Founder of Pundi X, David Ben Kay, President of Function X Foundation and Osman Emre Geredeli, Innovation Center Manager, Akbank LAB to discuss the current status and future outlook of crypto adoption in Türkiye.
XPOS solution was demonstrated at the event. The full panel discussion is now available for watching on Pundi X YouTube channel.
Pundi X also participated in the Cosmoverse 2023 and was interviewed by Cointelegraph TR and a Greek YouTuber, who has shown interest in the XPOSand the real-life adoption of PEX.
At Pundi X, we are constantly building since day 1. In Q4 2023, we are expecting to see some exciting features and developments coming.
Pay via Email
It’s a game-changing feature that we’re thrilled to introduce ‘Pay via email’ on XPOS. Up until now, when it came to paying with crypto on XPOS, users had two options: scanning a QR code from a blockchain wallet or using our p(x)Card. But now, there’s another option to provide more flexibility for both users and merchants.
Here’s how it works in a nutshell: The merchant simply inputs the customer’s email, and the customers will receive an email with an invoice detailing the crypto amount they need to pay, along with a QR code for a seamless transaction. This feature is especially useful for large amounts of transactions.
The Pay via Email feature is currently in the testing phase.
Pundi X Chain explores Ethereum Rollups
Another exciting thing is Pundi X is exploring the possibility of Ethereum Rollups. Once it’s implemented, the transactions on Pundi X Chain will be verified on the Ethereum network. We have successfully tested internally both ZK(Zero Knowledge) rollups and Optimistic Rollups, and are now looking at how to bring the rollups to the mainnet.
Stay tuned to our social media for more news updates on both Pay via Email and Pundi X Chain Rollups.
Q&A:
A: $PUNDIX is already listed in most Exchanges, and we will continue to seek for more listing.
2. Can Pundi X enter the Korean market?
A: We have entered the Korean market, but right now we do not have a clear decision from the regulatory authorities whether we can operate in Korea. Korea is a very exciting market and we look forward to be able to work with the regulators to bring crypto adoption into fruition.
3. Can you say something to MICA regulations for Europe? What can we expect XPOS in German, Switzerland?
A: We are waiting for the ctypro registration result of an European country. If the result is positive, that will include the approval of MiCA as well.
4. Are you planning on burning more tokens for Pundi X? What can we expect?
A: As usual, we’ll conduct the token burn every quarter.
5. How many new PEX will be in Turkey and South Africa
A: We cannot comment on the future events but do follow our social media channel to get the latest updates and announcements.
6. With so many POS and dealers in the market, why have you recorded so much value on the stock exchange? Could there be deficiencies in the promotion of the project?
A: Every market has different needs due to its local situation. What Pundi X does is to provide the technology and help realize the Franchisee’s vision in each market.
Thank you for joining the session. Pundi X also has a Podcast program that is available on all platforms. Follow us and never miss a thing!
Stay healthy and safe, and we will see you in the next progress report!
Sincerely,
Pundi X Team
We empower blockchain developers and token holders to transact digital assets and services at any physical store in the world. Telegram: http://t.me/pundix
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