4 April 2019 TenX Livestream Recap
Co-Founders Paul and Toby got together to co-host the Q&A livestream for the first time on 4 April at 7pm Singapore time. We’d like to thank the community for actively engaging with us throughout the whole 53 minutes!
Here’s a recap of the key topics and announcements from the livestream:
We are continuing to make cards available to users within Asia Pacific in the next few months and we expect to be largely done by July. We’re increasing capacity in order to review applications quickly, thank you for your overwhelming support.
Number of cards
As this data is competitor-sensitive, sharing the numbers can be damaging to our growth at this stage. However, we aim to be as transparent as possible with the community, and are excited to share that we are seeing tremendous growth in card activations with more than 15% week-on-week increase through March.
The banking license is an important strategic milestone that we are aiming to hit this quarter. We’ve resolved all blockers and are waiting for confirmation, which makes us confident that this is within reach. Receiving the banking license would bring us a step closer to issuing cards in Europe.
We have been successfully verifying TENX Token claims since claiming began in 25 March 2019, and will be extending the token claim deadline by three months to 26 July 2019.
We’ve seen questions from the community about what will happen to unclaimed tokens. We will be announcing details on unclaimed tokens in the future, and are now focused on helping all token holders claim their TENX Tokens.
Token issuance and rewards
The TENX Token issuance will happen in Q2, and first rewards will be paid in Q3. We intend to announce rewards on a quarterly basis, to be paid out daily.
Please refer to this TENX Token: Distribution and Rewards blog post for more details.
The PAY Token is intended to function as a utility token and an integral part of the TenX ecosystem. Its proposed functions would enable holders to:
- Accept, hold or transfer the PAY Token with the TenX wallet (as a virtual currency supported by the TenX Wallet)
- Use the PAY Token for fee payment for certain uses of TenX services
In addition, the PAY Token is intended to be the form of rewards for holders of the TENX token.
Our core focus is on the cards right now, with the next-steps being to support more cryptocurrencies in the wallet.
COMIT is undergoing development by the CoBloX team in Sydney at the moment. Although there are no live use-cases yet and it is still a research project, we have aggressive goals for COMIT in 2019.
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