Q3 2021 progress report and the Pundi X Chain launch

All right guys. A very warm welcome wherever you are good morning good afternoon and good evening.   so today our AMA for Pundi X is very 
special.  because we have six people on the call so guys say hello to everyone. Hi hello good morning or good evening 
or good afternoon right yeah hi this is Peko  Jeremy here. Hi Marcus. All right so David and Danny as well. I guess many of you know um who we   are and also many of the community members have been working, chatting and interacting   with many of us and today it's actually the first time Marcus and Jeremy are actually live on the AMA These two guys have been very active on the community. but i would also like to take the chance for Marcus and Jeremy to quickly say hi to the audience. Marcus, go ahead. Thanks. It's Marcus. I want 
to welcome everybody.   Just give a brief introduction to myself. I've been a community wizard for Pundi X since 2018.   Joined the public sale i was hanging out in the chat. Had a great time there. Zac reached out and offered me a position as Community Wizard with the company.

I also help out with some of the developer relations and developer onboarding that we do as well. I just want to briefly introduce myself. Say hi to everybody and thank you all for coming.   Jeremy, over to you. Thanks, buddy. Hey everybody i'm Jeremy. i've been a Community Wizard for about three years. I'm just fell in love with the team the project and the vision. You know the community kind of took over. and made me realize what a great project this is and it's been a fun ride ever since. and you guys are developing a lot of real use cases so that's why i got involved and i'm happy to be here so hello! It will be a fun session and let's get started. The agenda for today is actually a lot.

We made it a point that this session will be very AMA focused. which means that we will try to share a little bit on the agenda but try to give at least 50% of the time to answer the questions. so if you have any questions that you have not asked on Twitter or forum you can also ask it live on Youtube. We'll grab the questions live and then tackle it here together. Today's agenda. The first is actually the Pundi X Chain launch which is happening this month.  Very exciting so we will spend some time on that. Next talk about some XPOS developments that we have   including in El Salvador and Turkey which we are very excited the adoption that we have and also   the past events many of them virtual which we did over the past quarter. So let's get started.   First off, Pundi X Chain.

Many of you 
are tuning for the upcoming Pundi X Chain.   What is Pundi X Chain is actually a high throughput, low transaction fees, low latency chain.   The special thing about this chain is that it has a live use case from the very beginning   which is the integration of point of sale payment system into that chain not just Pundi X-owned XPOS but also point of sales system 
that runs on Pundi X software. so what it means is that if today Jeremy buys a coffee on XPOS in New York Transactions would actually be logged on Pundi X Chain so that is the live use case that we've been talking about   also a very interesting thing about Pundi X Chain is that we will start migrating Pundi X tokens on ERC20 to Pundi X Chain. The migration happens alongside the launch of Pundi X Chain. what this means is that for Pundi X token holders, it is the opportunity to help secure and governed the network and in return every time when a block is being mined, there will be a reward token  that is being generated and passed on to the delegators and validators that help secure the network.

As you can see from the image, Pundi X is not just connected internally to Function X ecosystem which is f(x)Core but also connected 
to the other chain whether it's ERC-20 Ethereum, Binance Smart Chain which we will talk about it later on and also many more chains that are  coming up so very exciting times and let's look at the timeline which is next week on 13th of October we expect Pundi X Chain to be fully launched and since it is a   elaborate launch process it is also a multi-launch sequence.

We have a t- launch sequence   so d-day is actually 13th of October which is actually already taking place with the update of f(x)Wallet so for those of you who downloaded f(x) wallet 1.8 you would actually see on the setting that there are Pundi X Chain  Binance Smart Chain, Polygon and also Tron. We are not only activating our own Pundi X chain but also   Binance Smart Chain, Polygon, Tron. We started with the update of f(x)Wallet.   f(x) explorer was also upgraded with a highlight on the governance proposal   which David will talk about and also we are preparing ourselves to set up the NPXSXEM bridge. all this will culminate on the launch on 13th of October with the Pundi X Chain going live  once the chain go live with the company hosted validators, user will be able to transfer Pundi X token   from Ethereum into Pundi X Chain which will start minting the PR token (Pundi X Reward token)   After 13th of October is not done, we have about at least two weeks of things going on.    Post-launch is actually the first governing voting will start.

In fact we have discussed internally and based on the feedback from the forum we have decided to bring forward the governance voting to a few hours from now. The reason is because it will take 14 days  for the voting and for us to implement. We will also open up the governance voting for submission   especially Ecosystem Genesis Fund proposals which the community has been discussing actively about   and lastly we get to the t+ 14. If the governance voting passes, it will be the activation of the BSC token and many more cross-chain functionalities. So the multi-stage launch which  already started happening last week but d-day is actually 13th of October next week. So guys strap in.   Next, one of the key thing is actually the governance voting both on Function X and also Pundi X so i think David has been in the center of designing and suggesting many   things about the governance voting. David, just tell us again.

Why do we need this?   Right. This is a very exciting thing although it doesn't have a very exciting name to it. Governance voting is really at the heart of the the future of blockchain.    From a lawyer's perspective it's very important because regulators are always looking to see Are you sufficiently decentralized as a blockchain and governance voting is really at the heart of the decentralized management of things so this is very 
exciting. This is also the channel for developers   and others to get involved as you can see from the form that's up here you can make proposals   we already have one as Zac said we'll be launching the proposal for the cross chain with the Binance Smart contract we 
have other things going on.   People who are involved in our forum and I encourage people to sign on to forum.functionx.io   and get involved, prepare proposals, and then we can put them up for a vote on this system.   so very excited about this.

Yes, we look forward for everyone to exercise the vote. Next I think we also did a lot 
of things in this very special month.   because this month is actually our 4th anniversary. 2017 until now. It is actually our fourth year this month. We started in end of September till now. We've done many things and I think Peko has a lot to share 
about this. Peko, go for it. You have seen a lot of 
activities going on for our 4th anniversary. This is very exciting for us to 
celebrate and we want to use this anniversary to   reward our community and 
also to spread the words to attract new members to join.

And also to create awareness. One of the activities that we have completed   is the FantastiX four. Since we are launching the Pundi X Chain the community has suggested to get some names from our community on the validators   as (part of the) 25 first company-hosted validators. We've allocated company hosted validators   to our community members so i would like to congratulate the four (members) have been highly voted   by the community they are Superbit, Sheriff, Claudio and Sina. Congratulations!   Your names will be on four of the first 25 company hosted Pundi X Chain  validator node. The validator 
node has been voted for the naming   As you see it's the objects in the universe that stand out to be.   Later you can choose the validator called moon or sun to delegate which is quite interesting. Thank you community to participate these votings. And we'll have more votings coming up. More 4th anniversary (activities) for you to join so please join us and participate. Shout out to all the crypto space members. Congratulations the winners. We look forward to delegating into the objects of the universe. One very special thing is that when Pundi X token is delegated into Punid X Chain the block reward for help governing the system is actually a reward token and we also went through a voting on the forum.

We started with the PR token which is the project name but ultimately the community chose the purse token.   as the token name so henceforth from now we will call it the Purse token. I think Danny as the designer of the Purse Token will tell us more what the Purse token is.   and what it is really meant for. Danny go for it. Thank you, Zac. Hi everyone, Good morning, good afternoon or good evening wherever you are.

This is Danny. Thank you for letting me sharing about the design of the Purse Token.  Basically like what zac said Pundi X is a chain and when you're able to delegate your PUNDIX token into the chain   then that will have a blocked reward that block reward tokens will be PURSE token   In this slide, you can see you 
can delegate your PUNDIX token and earn PURSE token as a block reward. What the utilities 
of this PURSE token are The basic design is to have it as a loyalty point so you can use 
it to redeem NFT or discount vouchers   or even collectibles and other tokens are in the future. People might ask since I know where is this first token coming from Then how many tokens will be generated every year or every quarter? This is the basic parameter.  I know this is a bit complicated but i would like to draw your attention to the initial annual inflation rate the minimum and maximum of the annual inflation rate basically the whole block reward calculations and generation  mechanism is inherent from Function X but the initial annual inflation rate is three thousand percent.

People might be wondering is that really too much for that? I would like to clarify here. Unlike a traditional or other blockchains   they are staking A token and earning A tokens but our cases is you are state delegating PUNDIX token and earn PURSE token as block reward 
so in order to stay competitiveness which right now the current block reward rate in the market is around 5 to 15%   so we would like to cater for this range. For example today let's say David he delegates 1,000 PUNDIX tokens   which is of today is 1,500 dollars and after a year assume it's 3,000%, then he will get 30,000 PURSE token.

  if one PURSE token worths 1 cent then is 30 dollars   which means that the API is around 6-7% so that's why the inflation rate might looks a bit scarier but that is normal in our cases. People might ask since the inflation rate at least from the number wise is a bit scarier, is there anything we can prevent or mitigate the fluctuations. We will say "yes." We have been observing the market so far Like we mentioned before, the basic function of the PURSE token  is to act as a loyalty point so in order to mitigate the speculations and unknown fluctuations we will introduce this BDL. B means 
burn, D means distributions   and L for liquidity, which means that for every transfer to a known white listed address this 20% BDL will be triggered. For example, today David wants 
to transfer 100 PURSE token to Peko even though when David initiates the transfer is 100 PURSE tokens but Peko will eventually only receive 80 PURSE token and 10 of the PURSE token during transfer will be burned   5% will go to a re-distribution pool; then distribute to all existing PURSE token holders.   and 5% will go to the liquidity 

So the next question would be as a token holder, how can i be benefit   or receive the PURSE token? These two graphics (made) especially for how the NPXSXEM holders and PUNDIX holders can receive. For NPXSXEM holders, the key word is migration. current NPXSXEM is running on BEP2 and the NPXSXEM holders have to migrate or transfer their current NPXSXEM tokens   to the new smart contract and might 
convert to a PURSE token.

The ratio is 1:1.   but in order to prevent the market fluctuations, we will implement a so-called 12%   and 8% remaining lock period. On the graph you can see   when you first migrate NPXSXEM tokens, you will first get 12%   and then after 30 days you will get another 8% until you get all the remaining For Pundi X holders, the keyword is 
to claim so basically if you are holding 1 PUNDIX from 21st of June until the mainnet launch which is next week 13th or 14 th of October you will get 8.93061 PURSE tokens if you are holding the full period   but this is not automatically airdrop so you, as a holder, have to go to the dedicated websites   and insert your wallet address, pay the gas fee and claim it yourself.

And the claim window will be 
around 60 days so no claim no tokens basically this is my part. Thank you, Danny. We have a very 
elaborated design of the PURSE token. and that is actually meant for PUNDIX token holders that help govern Pundi X Chain   by transferring PUNDIX into the Pundi X Chain. Please also know that the transfer is two-sided which means that when people transfer into Pundi X Chain, they can also transfer out.  It's not like a one-way street. So let's take some questions guys. I know there are some that is being asked. Why don't we all just grab some and answer it. Marcus, do you want to do the honors? Sure. Let me go through. We did have
some posted on the Function X Forum.   will we be using Hacker One for 
the Pundi X Chain or FX Chain?  and do any bounties there.

So it is a good choice. Hacker One is a reputable organization.   inside a lot of good white hat hackers there that would help identify any security issues   and also where we do have the EGF, we can incentivize Hacker One and the bounties   that will be available so it's definitely 
something we will look at Security is paramount on the network and for everything so that is definitely something that we will be investigating and looking into in the near future. Yeah definitely. Hey Jeremy you got any? you're muted buddy I think Superbit also asked about El Salvador update. Peko.  You are in the thick of things so go for it. I think for El Salvador we actually will mention the progress later. Can you guys hear me? We had constantly in touch with government officials to seek the instruction how to ship the devices to El Salvador. They also share the documentation about. how the Central Bank regulated the crypto services in the country. What we will do is to proceed with the registrations with our distributor.

We already have potential distributors signed with us to get the devices so the first batch of the XPOS has arrived in El Salvador.  and is now with our distributor for testing and after this testing period they will have all the documentation ready and then to apply for the registrations so this is all in process  and we're very glad that we are working with the local distributor to make it happen   That's great. Next one we 
have. Any news about XPOS desk development I believe it's also from Superbit. So I will take this. Superbit, you are right that in 2017 we actually talked about another XPOS called XPOS desk   Right now our focus will be fully on 
the XPOS that we have and the way that we want to expand the hardware offerings is by 
partnering with other partners including Ingenico, Verifone so these guys have a variety of hardware which we want to power   using our XPOS software so i think in a way XPOS desk is being transformed into the other hardware that we are working on with which we will also announce in a bit.

I get the next one. Go for it, man. it says here any updates on the technical aspects of the FX blockchain for the gas fees. As far as I can 
tell it's always in the native token   whenever you're gonna transfer either fx it'll be in the fx blockchain it'll be the fx token or   a coin or if it's gonna be in PUNDIX, it'll be the PUNDIX token so that's we have to basically remind the community that it's always going to be in that native token that you're transferring whatever blockchain you're transferring on I thought that would be good to clear up, That's correct, Jeremy.

In fact, this relates to another question.   would there be any changes to the fee price? As Jeremy said the base fee will 
always be the native currency of the chain Pundi X base fee will always be Pundi X token.FX Core base fee will always be FX token.  In fact we have decided to make some changes to it. The internal fee which means   the transaction inside the blockchain, we will be reducing a certain percentage of the fees because as we all know the price of the tokens have gone up a little bit   and at the same time the transaction fees that is coming in and out of the blockchain ecosystem   so from ethereum, for example, into or from Function X or Pundi X Chain out to Ethereum   We will increase that part of the fees. So why are we doing that? The reason is because we have been subsidizing the bridge so far And then we would like to go back to the natural costs.

And why are we reducing the fee internally is because the cost to pay the server fees are always the same but the base fee which is in FX and also PUNDIX token has gone up   So we would then be able to charge less for the same server fees that we pay so to answer that. all right. Any other questions, guys? I think there's a question on validator. Marcus, you have been working quite a bit on the validator so you want to take that? how to switch from delegated to self-hosted validator. Can you let me know? It was actually a FX validator question on that so how do we switch   we're going to be having a live session on 
building the self-hosted validators coming up   very very soon at the end of this month and after that particular event you'll be able to spin up your own self-hosted validator on everything.

For right now it is still the 21 days unlock.   but make sure you monitor the 
validator thread on the forum   just to make sure for any updates and to make sure 
if we if anything does change also for the 21 days   we will be making a decision about that pretty soon as well but if there's any suggestions   or any improvements that we want that you guys want to put forward definitely use the forum for that we will also have the proposals available to be voted on and everything else. So stay tuned.   yes correct the forum is the place . Some asked about competitors   so about Visa, Mastercard or even if lightning network how do we compete and actually in fact   should we define them as competitors 
so anyone wants to take this? For Visa and Mastercard, our take 
is that our biggest challenge is actually the adoption of crypto In the sense that not just trading but actually using crypto for daily services and we believe that the interest 
of Visa and Mastercard one actually proves that   we have the foresight to know that this market actually is growing with Visa and Mastercard coming in in and the fact that visa and mastercard is coming in shows that there will be increased knowledge   of crypto adoption which is good for us because XPOS is actually token and in many ways   payment agnostic so whatever payment solutions you 
want to use or tokens that you want to pay with   XPOS is the medium.

Take for example, our partnership with and by integrating into Ingenico POS So people can actually use Visa and Mastercard to pay. If they support crypto which means that   Visa and Mastercard can be used on the different point of sales terminals so we really do not see that as a competition but actually the growth of  knowledge and also understanding so that more people will use crypto as a day-to-day usage so that is critical. For Visa and Mastercard, some of our merchants already have a visa mastercard machine They are able to accept credit card so it's complement to XPOS. For those who don't have the acquirer   or the point of sales we collaborating with Verifone, PAX and as well as Ingenico   These three major manufacturers POS manufacturer have a network of collaborating payment acquirers   If you would like to apply for the Visa and Mastercard service. Then you can go through this network. We also have the compatible devices 
to enable it so you can accept credit cards   And also the XPOS in the machine. Of course we have XPOS devices. If you have a Paypal account  You can use the Paypal module in 
the XPOS machines to process the credit card   That's the support so far.

If there's any more updates, we'll keep an eye on the market.  and see what is the best way for our merchants and distributor to use How the lightening goes? I just want to say because we have the bridges too so it actually it helps no matter what we have a lightning bridge   or the ethereum bridge as we say like that would all be to our benefit to everyone's benefit   who works on the FX chain so it's all going to be able to be useful for everyone who likes different blockchains obviously so that's the one thing so as far as competitors it's a use case  It's something we can use i think to benefit us also. That's absolutely correct. Lightning is an implementation so we might 
actually also implement lightning networks it's not really a competitor but actually a way for us to get things paid and the adoption faster   I think on top of that basically you can see Visa or Master is actually in a broader sense they are also their own internal blockchain Due to the security and compliance they are in a closed loop but ours 
is a bit more open.

We can integrate   Ethereum, BSC and the lightning chain so i think these two things have to exist together in order to make the whole payment systems more robust and more advanced. so it doesn't really say you know we are the competitors. In order to get the cake bigger or to serve the people   and the environment better so we are doing instead of a closed loop solutions   we are opening up to integrate with other blockchains so i think that is one of the main purpose of    why we wanted to launch this Pundi X Chain instead of a payment (system) that (existed) before an open world.

David, i think that's a good question for you. Someone asked about when buyback so i think it relates to something that 
we discussed a couple of days ago internally. I understand that people are very interested in that prospect but i hope that you'll understand that we're not allowed to announce the possibility of a buyback   that comes internally among the team and we can announce it after it happens but i think that even Elon Musk ran into this problem   to announce a buyback before it 
happens is considered by regulators to be market manipulation I know Zac would love to to tell you when this is planned but we really are not able to do that 
so we'll we'll let you know after it happens   But we can't let you know before Thank you.

That's the position. Let's move on to the slides and we will take 
a few more questions at the end.   Next is actually the decentralized XPOS. Some of you have seen our lab version of decentralized XPOS whereby XPOS can accept payment on chain on any kind of wallet on Ethereum and   also very soon BSC and other chain. Right now it's in a lab environment and it's built upon the Function X network infrastructure so what we 
can say is that it will be a game changer because XPOS would able to tap onto any kind of chain. Whether you are holding a Tron wallet   You can use XPOS on-chain or whether you are using polygon or others. That will be a game changer.   It will be very inclusive and it is coming soon. There's no timeline that we will share yet today but rest assured that we are working 
on it very hard.

Next is actually XPOS adoption. As always, every quarterly report we will share some XPOS adoption.   Yes. Thank you, Zac. For XPOS adoption, we're working very hard to with our distributors   One of the latest updates is that our customer has requested the Ingenico devices We are looking into the new devices implementation. Ingenico recommends us to  integrate XPOS on their latest DX8000 which they are actively promoting so we have successfully integrated their latest model. It's available for all the interest distributor or merchants to acquire   It's very unique, latest model and the processing is very fast   We're happy to complete this integration and it'll be available in the market    where you need it the most so you have more choices for using XPOS device Another important update is our presence in Turkey. I just saw a question on the Turkey update.  i would like to say it's very exciting 
in Turkey and our distributor    Ovo is working very hard to onboard the merchants so you have seen the second store already opened in Turkey They have chosen very prime locations for Pundi X stores.  This is actually the new business 
model for us.

We never imagine XPOS will become a crypto store Sitting in a crypto exchange store to do the exchange like a foreign exchange. There will be more stores by the end of the year in Turkey  We are very happy with that implementation as well as El Salvador. Some people keep asking El Salvador I will also repeat it again. The first batch of XPOS has arrived in El Salvador for testing We're donating 170 XPOS. It's not completely sent over yet. Because we need to go through testing first and then go through a registration process with the local distributor  Now our potential distributor is testing the POS device Later on we'll work on the regulatory compliant process.

Since COVID, we would like our merchants and distributors can be easily on-boarding with the XPOS system   because the XPOS system itself is not just XPOS You will need to do the fee settings and tax settings in the backend   as well as the crypto sales deposit. We've produced over 100 Youtube videos to onboard our merchants easily with video presentations. One of the latest update is because of the support from our 
community we are able to produce multi-language tutorials so if you go on to our youtube 
channel there's a section for merchants onboarding tutorial and you can see a series of video and then you can learn how to onboard to our system   There are videos other than English. There are Spanish, Portuguese, Japanese, Korean and we expect more language to come so   please let us know if you like to 
see your language in those tutorials. Next is the section for events and community. I can take over the section if you are okay. Thank you, Zac. We are also having the 4th anniversary event   Not only we have the fantastic four naming the validator activities  We also have the XPOS transaction mining program.

It has been completed last week we will distribute the reward today. For those who has been participating transaction mining last week   you will be able to receive DAI in your crypto sales account please keep an eye on your sales account, you may find a very good amount of tokens coming in. and later on this month we have video campaign This is also open for everyone if you'd like to produce anything short or you would like to celebrate 4th anniversary you would 
like to perform a transaction    If you go to the store in Turkey, please feel free to shoot a video   and you share with the community and 
hashtag PUNDIX4GOOD and you will be able to enter this campaign and then to win rewards from there so please join the video campaign and spread the words as well as the meme social media campaign   this will last till January 23rd which is the day of our public sales   so you have plenty of time to create all kinds of material and then to shout out For Pundi X anniversary.

Remember to hashtag PUNDIX4GOOD and then we will be able to find you. Here I would also like to shout out to our community. They are very much passionate and   initiate the marketing activities. Especially i would like to kudos to Karina Traders She produced amazing video please follow her  for her amazing work. I love her work 
so much and she also includes Pundi X   Function X in her video and also interview people who have Pundi X tokens She shares a lot of useful information about crypto so please feel free to follow her to give her a thumbs up. I would like 
to shout out to Manado Design and create a meta universe for Pundi X so you can find different 
characters in there if you like to appear in his meta universe NFT creation please contact him and follow him and also support his competition Last but not the least is also the adoption which is what Jeremy is responsible for He is working with our community member Billy to launch "the ADOPTION" the AR comic book.

Jeremy do you want to talk about it? Yes please. Thank you, Peko. It's been great. Billy is the mastermind of it. It's a wave. it's a blockchain production. Probably one of the first. one of the first crypto punks as we 
know. NFTs are huge so this is actually fitting for turning this storyline this comic book into gaming, into gaming ,into NFTs  into anything. The possibilities are endless. The community can interact also in the storyline as well when it comes to governance once we launch the blockchain we have our own token. You can also use governance similar to FX so a lot of these similarities   are going to be the same so with the community getting involved in in the comic and with Pundi X getting involved like everyone seems to love comics and seems to love what Billy did It's just we're getting a lot of feedback.

If people have feedback they can go to the adoption.io and also see our collaboration with Pundi X as well as you can see here in the screen so that was kind of cool   the possibilities are endless and NFT are here to stay. I think it's a good idea. Thank you, Jeremy. Also i would like to shout out with our community member to introduce the opportunity of the YouTuber to make it happen. I think this is really great that we can have the exposure with the youtuber and also to deliver important knowledge to educate the new users and   to let them know what Pundi X is and what Function X is. Very basic information through the quality delivery from the Youtuber and this interview has been well received. Here i would like to thank you for referring this opportunity and make it happen. We are open to all the suggestions from the community We can work together to achieve.

Ii think someone in the chat asked about   the activities with Binance. Recently 
we have participated the Tree Million Charity program   because we think that giving back to our community in different ways is very important This is one of an initiative that 
we want to do to contribute ourselves   as a whole with our blockchain industry peers. We work with Binance Charity to to donate to plant actual trees not just virtual trees but actual trees in the country that our communities select the voting has been done and completed.

Brazil got the highest votes for the trees   that we want to plant with finance charity. I would suggest everyone to take a look this campaign It is really meaningful for the industry people to concern about   our environment changes and it's very important that we keep this industry to use less energy to   minimize the global warming as a whole so please go to Binance Charity to check it out If you plan a treat you can only plan the actual treat but also get a NFT certificate   so it's it's very good initiative. Thank you, Peko.

Lots of stuff happened and lots of stuff happening soon. Right now, we are at the almost the end.  and again we went over time but I think there are still some questions that we would like to answer so maybe let's take three more. So last three question is from munchie. When is the PURSE token launching? Danny, do you want to take that? Sure. Zac, can you go back to   the multi-stage launch page for me? i think that will be clearer yep this one correct In order to answer your question   basically what it has mentioned is the main launch is 13 or 14 October which is   Wednesday or Thursday next week. After that, we will support the PR token cross chain transfer but that really depends on the BSC cross chain voting.

As Zac mentioned that the voting itself will take at least 14 days. We will actually create this PURSE token contract on 13 or 14 October Before the BSC cross chain bridge has been approved. The PURSE token cannot connect with Pundi X Token because we are lacking of this BSC and Function X bridge   so in order to get these two things to be connected we will take 14 days to go through   In short we can only launch because the PURSE token will be running on Pundi X Chain It's meaningless if PURSE token 
can only run on BSC The actual date will be after the voting which is around 27-31st Octobor Let's aim at the end of this month for the launch of the PURSE token.   After we launch the PURSE token, the migration page, the claiming page, the interface will come out simultaneously as well.

All right. Thank you, Danny. Next is actually about Function X   You have chosen a decentralized marketing strategy, by 1111 the question.   Do you have a plan? We have a very elaborate plan but why don't we give him or her a short answer? basic answer is going to be the Genesis Fund. It's about 75 million FX. basically that's a major incentive to 
the community members to get involved   and as far as earn as like Peko
said the campaigns you can even run through   like trading competitions on the DEX anything you want to include. There's ways to earn. That's what the foundation is set up for. I believe the decentralized marketing proposal that we're going to put it into the governance voting.  We cover the aspect of both creating 
content for the official channels as well as    the third party creating content for 
Function X and Pundi X. So there are two parts   in this proposal. We see there are a lot of community members   They're very talented and they create really creative stuff.

Perhaps Function X official channel will be able to tap on those resources and to make our branding even better There are really great creativity that 
we would like to acquire from the community Also the community can be rewarded from there. This is the purpose of the decentralized marketing   We work together to deliver the marketing muscles to strengthen our marketing muscle For the third party creations.

For example, the youtuber It's breaking up. all right last question so who wants 
to do the honors? We have another question here, Zac. From the forum. It's by allah gazi   and is it possible in the near future to 
monitor in real time how many XPOS devices   are operating and see all the stats about Pundi X Chain. So basically the transactions, the fees   the number of addresses and how much fees are accumulated for the next token removal. Yes, absolutely and this has always been our plan from the very beginning to give real  decentralization and transparency. Next week we will see Pundi X Chain go online   That is the almost final step to bringing XPOS to the decentralized XPOS next week XPOS will not be decentralized yet but it will come so that is our aim. allah gonzi, we plan to make that so that everyone can enjoy and look at   the PUNDIX token that you own not just as a pure investment but a technology   coming into our day-to-day life so that has always been our vision.

Thanks, Zac. Thank you. All right so i think we are 
a bit out of time. Almost one hour so let's just have a final recap The Q4 2021. Introducing the decentralized XPOS module support more ERC20 tokens  officially via the decentralized module 
support f(x)Wallet on-chain transaction Establish a network of licensed master distributor. One very great example is Turkey. Launching the PURSE reward token  which can be claimed by PUNDIX token holders and very importantly next week launch of Pundi X Chain so with that I think we can safely conclude the session for today.  Thank you guys.

Thank you 
for watching everyone! .

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