I think they started selling PayperEx tokens(PAX) somewhere in July or August 2017. They increased the price of PAX every week for the last 6 months while the ICO lasted, the longest ICO I know of. So far I haven't seen anything tangible from the team, they have missed all the deadlines and just keep promising stuff. I personally wouldn't invest into that. There are much better alternatives.
they announced The launch of the Exchange Apr 2nd