F(x) is more than just financial transactions and it significantly helps in the creation of a new path for decentralization. The coin will become its own native and independent currency meant to facilitate transactions without relying on any organization, individual, or structure. For their relentless support, most of the TGE generation f(x) tokens (65%) will be offered to the holders of NPXS and NPXSXEM.
20% of the tokens will be allocated to the Ecosystem Genesis Fund for developer partnerships, f(x) infrastructure service providers, token listings on the exchanges, and much more. The vision of Pundi X has always been to foster and oversee the mass adoption of blockchain-based technology in many retail payments. The remaining 15% of these coins will be channeled towards product development, engineering, and marketing.
The Demand Led to the Creation of f(x) Ecosystem
The team confirmed that they have a functional ecosystem featuring XPASS cards, XPOS devices and a new mobile application called the XWallet. Since August 2018, at least 25 countries around the world have imported the XPOS.
Also, more than 50,000 XPASS cards have already been activated and approximately 60,000 transactions were processed by Pundi XPOS devices and the XWallet in less than the first six months after their launch and deployment.
Demand from customers and merchants for instantaneous, on-chain transactions together with the company’s growth trajectory called for the need of a blockchain solution to service a real global payment network. The demand led to the creation of an ecosystem, f(x), which delivers 10X more speed, scalability, openness, and consensus.
— Crypto_Vibes (@Crypto_Vibes) November 23, 2018
Why not have Just One Token?
The company confirmed that there will be no sale of the f(x) tokens whether publicly or privately. The allocation uses, and economics that falls behind NPXS and the f(x) Coins are fundamentally different hence one token is not enough. The existing projects are different with entirely different designs and always working to different timelines.
To change any terms of NPXS tokenomics and the planned tokenomy of f(x) would undermine and undercut any progress made in recent months. F(x) is designed to offer increasing token supply to encourage miners and developers to support and grow the ecosystem. On the other hand, NPXS is designed to service a payment network with its supply decreasing as adoption grows.
How to Receive f(x) Tokens
All the NPXS and NPXSXEM holders will be presented with the opportunity to decide how and whether they would like to get the f(x) tokens. 65% of all f(x) token generated from the TGE allocated for NPXS / NPXSXEM holders will be distributed as follows. 15% will be made available for all the NPXS / NPXSXEM holders to stake, 45% will be used for changing NPXS / NPXSXEM to f(x) tokens, while 5% is an extra bonus for all these holders to claim. These allocations start on March 10, 2019, and will continue until a later date to be determined after lasting for at least 3 months.
Benefits of the Function X to the Pundi X Project and Holders
The new development is set to improve the speed and scalability of XPOS and XWallet with the probable applications for the payments using NPXS becoming significantly broader. This migration to a blockchain that has a significantly higher transaction capability will enable every XPOS to serve as a node. With the many thousands of XPOS deployed internationally, a new network will emerge to rival the size and scope of Ethereum.
Moreover, the truly decentralized payment provider will have significant depth to reach payment speeds and reliability that is invaluable. While XPOS pushes cryptos towards mass adoption and fuels the adoption of f(x) blockchain, the NPXS project will fuel the XWallet, XPOS, and XPASS payment transactions to thrive on the Function X ecosystem.
For the NPXS/NPXSXEM holders, all the mentioned benefits are applicable to them too. However, there is the addition of exclusive chances to become f(x) token holders. The planned 15% allocation from TGE will be offered to these holders to earn via staking. Also, a scheduled future allocation will offer them an additional exclusive option to convert the acquired NPXS/NPXSXEM to f(x) tokens.
The number that is converted will be removed from the entire supply of NPXS/NPXSXEM permanently. However, gaining early access to f(x) tokens have been made fully optional for the NPXS/NPXSXEM holders. Once the f(x) mainnet is launched, all NPXS/NPXSXEM holders who will be remaining will be given a 1:1 token swap for NPXS-FX/NPXSXEM-FX tokens. Besides, they will continue getting their monthly unlocked tokens.
Have a question? Zac Cheah, the CEO of Pundi X, will host a live AMA at 10 am GMT+8 on Jan 19. Be sure not to miss it:
To make sure the @PundiXLabs supporters benefit from the launch of @FUNCTIONX_IO, we’ve allocated 65% of f(x) tokens from TGE to #NPXS and #NPXSXEM holders. I will host AMA at 10 am GMT+8 on Jan 19 to answer your questions. pic.twitter.com/0dqqBHPzNO
— Zac (@zibin) January 18, 2019