Pundi X Price

What Is Pundi X (PUNDIX)?

Pundi X (PUNDIX) is the native ERC-20 token of Pundi X Chain, a multichain network that facilitates retail transactions of digital currencies through blockchain-based point-of-sale (POS) devices, known as XPOS®. Combined withXPASS (a crypto-enabled contactless smart card) and the mobile wallet XWallet, Pundi X provides the architecture to ensure secure and seamless retail payments using cryptocurrencies.

On March 30, 2021, the original Pundi X token (NPXS) was rebranded PUNDIX after the community voted to support the token redenomination. Their intent was to strengthen the Pundi X brand and reduce its total supply. The token swap was in the ratio of 1,000:1 for NPXS to PUNDIX.

Pundi X Chain optimizes Function X f(x) Core framework for multichain crypto-payment processing on the platform’s XPOS devices, which are used by retailers and merchants.

Pundi X Price

NPXS was launched in March 2018 at $0.0009, and pumped hard to hit $0.0126 on May 20, 2018. It then gradually declined and stagnated for most of 2019 and 2020.

In January 2021, the price rose until the token was officially changed to PUNDIX in March 2021.

After the redenomination, PUNDIX began trading at $7 on March 30, 2021, and the next day slightly increased to $10.07 — its highest price so far. Thereafter, the PUNDIX price declined slowly to hit a low of $0.68 on June 23, 2021.

PUNDIX recovered slightly in the following months and hit $2.06 on September 5, 2021. Then the price dropped to below $1 by January 2022. Since then, the coin has been trading sideways and has continued to stagnate for most of 2022.

What Is PUNDIX Used For?

The Pundi X utility token facilitates the transfer of value on XPOS machines, using the XPASS contactless crypto card.

In addition, PUNDIX holders can delegate their coins to enhance security on the Pundi X Chain. They’ll receive PURSE tokens as block rewards, which are transferable and can be used on BNB Smart Chain.

With the launch of the Function X Mainnet, PUNDIX is also available for DeFi staking on the f(x)Wallet, a decentralized wallet for DApp use.

Pundi X Tokenomics

The first Pundi X token was called PXS when it was launched, and was then rebranded NPXS a few months later. In February 2021, the community supported a proposal to redenominate NPXS to PUNDIX, and a token swap was initiated at the ratio of 1,000 NPXS for 1 PUNDIX.

Following the rebranding, the total supply of 258 billion NPXS tokens was reduced to a total of 258 million PUNDIX. All the PUNDIX coins have been released into the circulating supply. The PUNDIX supply is fixed and unmintable.

The platform supported the token swap for a full year, until March 31, 2022. Thereafter, NPXS tokens will be removed from circulation through a quarterly burning mechanism.

Who Is the Founder of Pundi X?

Pundi X is co-founded by Zac Cheah (CEO), Pitt Huang (CTO/COO) and Danny Lim (Senior Advisor).

How to Store PUNDIX

If you wish to use PUNDIX for crypto payments, then store it in the official XWallet. It can also be stored for staking in Pundi X’s blockchain wallet, f(x)Wallet. However, since it’s an ERC-20 token, you can also store it in Ethereum-compatible wallets such as MetaMask, imToken, Trust Wallet and WalletConnect. For added security, store PUNDIX in hardware wallets, such as Ledger and Trezor.