Dear Pundians,

Mass adoption of blockchain-based technology in retail payments has always been the vision of the Pundi X project.

We’ve been steadily building to deliver the vision over the past year. Today we have an ecosystem comprising our XPOS devices, XPASS cards and our new mobile app, the XWallet. Since last August, thousands of XPOS have been shipped to more than 25 countries. Over 50,000 XPASS cards have been activated and more than 60,000 transactions were processed by Pundi XPOS devices and the XWallet in less than the first six months of deployment.

Demand from merchants and customers for instant, on-chain transactions combined with our growth trajectory have led us to search for a blockchain that can service a truly global payment network. That led us to innovate a blockchain ecosystem that can deliver 10-fold gains in speed, openness, scalability, and consensus.

It led us to f(x), an ecosystem that extends beyond just financial transactions toward a new path for decentralization. To ensure it can operate without relying on any specific individual, organization and structure, f(x) Coin* will become its own native, independent currency for facilitating transactions.

For their ongoing support the Pundi X project and our initiatives, the majority of the f(x) tokens of the token generation event (TGE) will be allocated to holders of NPXS and NPXSXEM*.

Allocation of f(x) tokens generated from TGE

Great blockchain projects have the highest regard for the interests of their community and seeks to balance those interests.

65% of all f(x) tokens from the Token Generation Event (TGE) is allocated exclusively to NPXS/NPXSXEM holders.

At the same time, another 20% will be used for the Ecosystem Genesis Fund for developer partnerships, token listings on the exchanges, f(x) infrastructure service providers and more. The remaining 15% will go to engineering, product development and marketing.

There will be NO public or private sales for f(x) tokens.

Why can’t we just have one token?

The uses, allocation and economics behind NPXS and f(x) Coins are fundamentally different. They are different projects with completely different designs working to different timelines.

To change the terms of NPXS tokenomics would undermine undertakings we made to token holders and the entire economics of the NPXS token. And similarly, to change the planned tokenomy of f(x) would fundamentally undercut its very purpose as a blockchain. In short, f(x) is designed to provide increasing token supply to encourage miners to support the network and businesses and developers to grow the ecosystem. NPXS, by contrast, has been designed to service a payment network with supply decreasing as its adoption grows.