The first Q&A of the year 2019 kicked off with our CEO, Toby Hoenisch, accompanied by Head of International Community, Mike, going on camera to answer the most pressing questions of our community.

Julian’s departure

Due to accusations regarding Julian Hosp and insider trading, we wanted to highlight again the strict policies TenX has (especially for board members like Julian) to prevent such behaviour. TenX hasn’t received any notification of such trading behaviour and TenX itself has not done any trades in the timeframe from the 21st of December till the date of the livestream.

Nevertheless Julian left the company in early January and does not participate in day to day business of TenX. Please respect that the reasons for his departure stay between the co-founders. In the future, Toby will take over the role of representing TenX, while moving more to a product-focused brand, letting the products speak for themselves.

TenX Card relaunch

Looking into the future we see ourselves evolving into TenX 2.0. While TenX 1.0 used to be about cryptocurrency users, we want to move further and connect the cryptocurrency world with outside world. As a first step in this direction (and after a long time of patience from our community!) we can finally say that we are officially re-launching our TenX cards in Singapore as of today, opening KYC to all users from Singapore.

Furthermore we will be broadening the issuance of our cards one-by-one to most of APAC in the coming months, while getting everything ready for many different countries. We have completed testing in APAC and built a highly scalable infrastructure to onboard many new and old users who have been waiting for their cards.

2019 outlook

As of now users need to be in crypto to make use of the TenX app. Throughout the year we want to tackle that and bring both crypto and fiat worlds closer together. Therefore we are looking into ways to give users the ability to buy crypto in our app. Secondly we want to onboard a lot more assets in 2019 to connect more and more systems bringing us closer to our vision of TenX 2.0.

TENX token, KYC and rewards

The snapshot of the Ethereum blockchain from the 30th of December (block 6980194) will be used for the issuance of the new TENX token. In the coming weeks we will open KYC in the TenX app for you to verify yourself, so you can redeem your TENX token later.

Being an owner of the TENX token you will be eligible to claim rewards on a daily basis (paid out in PAY). The total amount of those payouts is based on the performance of the company and will be announced on a quarterly basis.

PAY token

In the future the PAY token can be seen as our own currency or loyalty coin, which you can use to make purchases in the wallet, pay fees, order the card and other future use cases. As mentioned earlier the rewards generated from the TENX token will also be paid out in PAY as well as the 0.1% cashback of your TenX card. To integrate the token into our ecosystem we are looking forward to add PAY as an asset to our app so it can be used for its intended purposes.

If you have any further questions please…