Pundi X (NPXS) is one of the few crypto and blockchain projects that wants to create real life use cases of digital assets. Their vision is a future where day to day payments are conducted via crypto. The project has even amped the distribution of its Point-of-Sale devices around the globe in a bid to keep up with the demand from retailers/merchants. Their plan is to distribute over 100,000 Pundi XPOS devices in more than 12 countries.
In an announcement via twitter, the team at Pundi X announced that the last day to swap old tokens for the new NPXS and NPXSXEM is the 20th of September, 2018 at 23:59 (GMT + 8). The ratio for swapping the tokens is 1 PXS for 1,000 NPXS.
More on how to carry out the token swap before the deadline can be found on this link on their official website.
With respect to the token swap for its NEM members, the step-by-step guide is also available via this link.
XPASS Cards Issued In Taiwan
In a very colorful tweet, the Pundi X team showed the issuance of XPASS cards to Ultra Taiwan 2018 event participants. The XPASS card allows users to conduct transactions just like how they use the regular metro top-up cards used for public transportation. A full public release has not been announced by the team at Pundi X, but the NPXS community is very much enthusiastic about the launch.
The tweet showing this update can be found below:
We are relieved to see XPASS cards well received by @UltraTaiwan 2018 participants. Busy transactions, happy merchants and customers ☺️ All efforts paid off! #npxs #pundix #blockchain #payments pic.twitter.com/jT0gjIkYuQ
— Pundi X Official Account (Pls do not send ETH) (@PundiXLabs) September 8, 2018
Removal of 500 Million NPXS from the Total Supply
In the month of August, the team at Pundi X lived up to their promise of reducing the amount of NPXS in circulation. The initial announcement by the team indicating their intention to reduce the amount in circulation, stated that:
100% of Pundi X’s revenue that is generated through transactions on the XPOS will be removed permanently from our NPXS token circulation. This means that if Pundi X makes $1 of revenue from a transaction, we will take $1 worth of NPXS out of circulation permanently. NPXS tokens taken out of circulation will never be able to re-enter the circulation in any way as they will no longer exist.
It is therefore with this promise that the team has taken out 500,001,139 NPXS out from the total supply in August.
Market Performance of NPXS
Further looking at the market performance of NPXS, we find that the digital asset was affected by the Goldman Sachs fake news of September 5th. As a result, NPXS has fallen from comfortable levels of $0.00235 before the fake news, to current levels of $0.00135. This is a 42.5% decrease in value in 2 weeks.
However, the crypto markets have since stabilized and the price of NPXS could be headed to the levels seen before the fake news, and led by a relatively stable Bitcoin.