Pundi X 4th anniversary and Pundi X Chain launch
Words from CEO
PUNDIX4GOOD! Four years ago we started Pundi X with a vision of allowing anyone to buy and use crypto currencies as easily as buying a bottle of water.
Born to inspire
Fast forward four years later and this vision has been implemented through XPOS, XWallet and XPASS and rolled out to over 30 countries globally. People from Japan to Uganda to Istanbul to Buenos Aires are able to step into a shop to top up and use their crypto. In this journey we are privileged to have had the ongoing support of an ever growing Community and leading industry players (including Ingenico, PAX, VeriFone, and more!). We have also had a distributed supportive distributor network which we have worked closely with, such as in Istanbul where we had our first brick and mortar, standalone crypto storefront allowing people to buy crypto. This is made possible through our strong partners locally to build and creatively promote adoption.
We are grateful that our work has been recognized by reputable organizations. In 2018 Pundi X has also been selected as one of the top 50 Innovative Fintech Startups by KPMG and H2 Ventures, cool vendors in blockchain business by Gartner, and one of the top 10 fintech leaders by Singapore Fintech Association in 2019. In 2020, we’ve also received the CES innovation award.
Looking 4ward: the road to a more decentralized payment network
Coinciding with our 4th Anniversary is our impending launch of the Pundi X Chain. It is a culmination of our efforts to bring Pundi X tools in Ethereum into our own Function X ecosystem, including the cross-compatibility of PUNDIX tokens in Ethereum, Function X, and more. It is also to bring our tools, including XPOS, into a decentralized ecosystem (heretofore XPOS was run on a centralized ecosystem). With this decentralization we envision that adoption will move forward faster and broader.
The proposed Pundi X Chain launch schedule is set out here:
Pre launch (T minus launch: 27th September to 12th October)
T minus launch happens weeks before the scheduled T date Pundi X Chain launch. The preparation before the launch of the Pundi X Chain includes.
- Simulation of the real-life environment (internal);
- Updated f(x)Wallet submission to app stores for approval (time is not within our control), embedded with the new app is configuration that will be activated once governance voting is passed (for governance voting stuff please read on).
- Tutorials and guides, including $PUNDIX token cross-chain, reward token migration and governance;
- FX Explorer UI/functionality upgrade; and
- NPXSXEM bridge and conversion to Pundi X Reward (PR) token.
Launch (13th October to 14th October)
Launch date is THE DAY Pundi X Chain goes live.
- Pundi X Chain launch.
- Setting up of Pundi X Chain initial validators and activation of its genesis block.
- Setting up of inter blockchain communication between f(x)Core and Pundi X Chain.
- f(x)Wallet app updates activated.
- New support for FX / PUNDIX / PR token cross-chain transfer,
- Support PUNDIX token cross chain, delegation, undelegate, claim, etc functions
- FX Explorer’s support for Pundi X Chain transactions
- Pundi X Reward (PR) token deployment on BSC
Post Launch (T +1 launch: 15th October to 20th October)
- First governance voting starts right after launch with BSC cross-chain proposal for f(x)Core governance voting
- 14 days voting by delegators and validators via f(x)Wallet and voting progress recorded on https://explorer.functionx.io
- f(x)Core governance voting is also open for EGF proposal submission
Post Launch (T +14 launch: 27th October to 31st October)
- BSC cross-chain governance voting takes 14 days, once and if approved, we will activate BSC cross-chain functionality
- Activate PR token BSC <-> Function X full cross-chain functionality
- Activate PUNDIX token ERC-20 <-> Function X full cross-chain functionality
The launch of the Pundi X Chain represents a significant milestone in the evolution of our vision for a decentralized ecosystem that will enable greater adoption of cryptocurrency and further development of blockchain technologies. We aim to become more transparent, open, and decentralized organizations.
Everyone counts
While it represents the product of our internal efforts, it could not be accomplished without the support of our Community. Thank you and viva Pundi X! Together we continue the journey to decentralization.
Zac Cheah
CEO and Co-Founder
Pundi X Labs
