Currently, Cryptocurrency is being hyped extensively. However, if we take a look at its adoption, it hasn’t been that great. There are few stores accepting cryptocurrency. So, you can not pay at many places with your digital coins. Pundi X wants to change that situation and introduces a tool to make cryptocurrency accessible to every shopkeeper.
What is Pundi X?
Pundi X has great ambitions. The team states on its website: “Pundi X’s mission is to make buying cryptocurrency as easy as buying bottled water. As the Walmart and 7-Eleven of cryptocurrency, we want users to buy and use cryptocurrency anytime anywhere.”
To realize that dream Pundi X has developed a method of purchasing and using cryptocurrency in stores. How they want to realize that method can be read in the company’s whitepaper. Short term, the company wants to spread a large number of POS devices in physical stores and hospitality. With that Point Of Sale device you can purchase cryptocurrency in such a store and store them in your wallet by using a Pundi X pass or a code.
At the same time, the device can also be used to sell your cryptocurrency and it is possible to pay with cryptocurrency for goods you want to buy. And Pundi X wants to use the device to display ads through the POS itself, but also on the vouchers that come from the device.
Pundi X is built on the Ethereum network. This is used to capture the history of the transactions.
What can you do with the token?
Pundi X issues the PXS token. This token can of course be traded at exchanges, but serves primarily as gas for the Pundi X-network. If you want to offer cryptocurrency for sale and want it to be on a high position on the listing of specific locations, you need to pay a small fee in the form of PXS. And also for network advertising must be paid with PXS.
Pundi X works with airdrops. 70% of the tokens will be paid to PXS owners at a later date. Pundi X promises in her whitepaper a monthly benefit of just over 7% in the first year, declining to 0.88% in the third year.
What does the roadmap look like?
The website contains a detailed roadmap. Pundi is already market leader of QR payments in Indonesia and has now over 100,000 registered users and over 350 affiliated shops. By the end of this year, she wants to roll out 500 POS devices in Indonesia. The platform itself should be live in the first quarter of 2018 and the rest of that year will be used to launch the product in much of the rest of Asia as well. In addition, there is an ambition to start in North America, North and Western Europe and Russia by 2020 as well. According to Pundi X, this is dependent on whether the regulation in those countries makes it possible to do so.
Why an ICO?
The main reason for organizing an ICO is that introducing such a tool and functionality is quite expensive. This is a way to raise that money. In addition, Pundi X reserves the right to organize another ICO if less than 35 million PXS are sold during this ICO.
What does the ICO look like?
|Total coins issued||700,000,000 PXS|
|Coins at sale||140.000.000 PXS|
|Price||1 Ether get’s you 500 PXS|
|Bonus||Yes. In the presale bonus will be 30%. In the public sale, this drops from 15% in Phase 1 to 0% in Phase 4. For large purchases there are additional bonuses.|
|Dividend||Yes, from an airdrop of just over 7% per month in the first year after the ICO, to 0.88% per month in the third year.|
|Data||Presales: until October 28th. Public sale is not yet known.|
In the video below, the development team explains how the Pundi X POS works.
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