[ANN] TenX: Making Blockchain assets spendable

[playgrounder]

Hey I have read the entire white paper so I did my best to find the answer to my questions. Regrettably I either couldn't find it or didn't quite understand the answers. When it comes to finances I am quite the layman.

When someone makes a transaction one can earn up to 0.1% of it in PAY.
1) but couldn't this theoretically become impossible, if people would hold on to their PAY and the limited supply is insufficient?
2) if PAY can be created through this payout, wouldn't this cause inflation in the long term?

PAY holders receive 0,5% of the transactions made on the TenX platform in Ether.
1) wouldn't this be a disincentive for people wishing to use TenX for payments? (It is a small fee, but see my following questions).

What fees are people using TenX for payments to expect, and what does TenX stand to gain on payments on their platform?
1) there are no transactions fees, but surely TenX will earn from payments. Does TenX charge a fee for exchanging crypto to fiat then?
2) how are current exchange rates calculated, from a specific exchange site?
3) just broadly, what will a TenX payer pay additionally to use the platform (no matter the form, fee, exchange rate...) and...
4) what will TenX earn per payment (in whatever form)?

Thanks in advance for answering my questions, I hope they were clearly formulated.

 

Great questions - see the answers below:

1. There is always someone willing to sell - this feature will actually increase the PAY price and was designed that way.
2. It is NOT created - we have to buy it on the open market.

1. Yes, true - we don't want people to sell their PAY, that's why we have an incentive for them.
2. We use Polo, Kraken, Quoine
3. no fees
4. we get up to 2% kickback from the card provider

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[2econd]

Hey I have read the entire white paper so I did my best to find the answer to my questions. Regrettably I either couldn't find it or didn't quite understand the answers. When it comes to finances I am quite the layman.

When someone makes a transaction one can earn up to 0.1% of it in PAY.
1) but couldn't this theoretically become impossible, if people would hold on to their PAY and the limited supply is insufficient?
2) if PAY can be created through this payout, wouldn't this cause inflation in the long term?

PAY holders receive 0,5% of the transactions made on the TenX platform in Ether.
1) wouldn't this be a disincentive for people wishing to use TenX for payments? (It is a small fee, but see my following questions).

What fees are people using TenX for payments to expect, and what does TenX stand to gain on payments on their platform?
1) there are no transactions fees, but surely TenX will earn from payments. Does TenX charge a fee for exchanging crypto to fiat then?
2) how are current exchange rates calculated, from a specific exchange site?
3) just broadly, what will a TenX payer pay additionally to use the platform (no matter the form, fee, exchange rate...) and...
4) what will TenX earn per payment (in whatever form)?

Thanks in advance for answering my questions, I hope they were clearly formulated.

 

Great questions - see the answers below:

1. There is always someone willing to sell - this feature will actually increase the PAY price and was designed that way.
2. It is NOT created - we have to buy it on the open market.

1. Yes, true - we don't want people to sell their PAY, that's why we have an incentive for them.
2. We use Polo, Kraken, Quoine
3. no fees
4. we get up to 2% kickback from the card provider

Thank you for the quick and clear answers!

Could you please explain to this layman what 'kickback from card provider' means. This sounds like the card will still be part of a different company (VISA/MC who will wish for a minor stake as well). What will their stake be then, and how will this translate into costs for the card user per payment?

[blocks.explorer]

It says product is ready. Are there already physical cards with the VISA or MasterCard logo in it?

I think they have Built TenX Wallet to allow for instant multi asset transactions and payments. And as you can see, there is no VISA logo in the card, it seems that there is a Mastercard logo on the right side of the card.

So the wallet so far is ready but no contracts whatsoever for the cards with VISA or MasterCard.

[inck]

There is a similar project called Monaco. What differentiates TenX from it?

[playgrounder]

It says product is ready. Are there already physical cards with the VISA or MasterCard logo in it?

I think they have Built TenX Wallet to allow for instant multi asset transactions and payments. And as you can see, there is no VISA logo in the card, it seems that there is a Mastercard logo on the right side of the card.

So the wallet so far is ready but no contracts whatsoever for the cards with VISA or MasterCard.

everything is ready and live - watch our videos on YouTube: www.youtube.com/tenxwallet

[playgrounder]

There is a similar project called Monaco. What differentiates TenX from it?

We have a comparison on our website: www.tenx.tech
Short version: WE ARE LIVE - Monaco is only a concept... nothing proven. We do not charge any fees, we work with more currencies, we have a better backend, etc.
Monaco is a whitelabel solution without any actual tech.

[playgrounder]

Thank you for the quick and clear answers!

Could you please explain to this layman what 'kickback from card provider' means. This sounds like the card will still be part of a different company (VISA/MC who will wish for a minor stake as well). What will their stake be then, and how will this translate into costs for the card user per payment?

Whenever you use your MC or VISA, the merchant has to pay around 2-3%. The card providers share this fee with us, so we do not have to charge our users.

[2econd]

Thank you for the quick and clear answers!

Could you please explain to this layman what 'kickback from card provider' means. This sounds like the card will still be part of a different company (VISA/MC who will wish for a minor stake as well). What will their stake be then, and how will this translate into costs for the card user per payment?

Whenever you use your MC or VISA, the merchant has to pay around 2-3%. The card providers share this fee with us, so we do not have to charge our users.

This... Sounds superb!
Only, from all the collected fees MC/Visa give you a measly 2 percent?! That seems like a rough deal!

[boopy265420]

It is true TenX is most powerful and well prepared competitor to those projects working on or providing similar services. How the team will manage to not charge foreign exchange commission this is where I stopped to think more about. Annual administrating fee concession is understandable but who will pay that conversion fee ? I would like to more about this. May be by reading whole concept well I reach to get the answer.

[EDisney]

An interesting article mentioning TenX:

https://www.inc.com/brian-d-evans/cryptocurrency-initial-coin-offerings-are-helping-startups-raise-millions.html

[LongTermCrypto]

Is it safe to deposit ETH funds into the TenX android wallet?

Can I buy TenX ICO tokens through TenX android wallet and receive the tokens in the app ?

Thanks in advance

[playgrounder]

We will talk about COMIT in today’s webinar, here is a blog post I made for Bitcoin Magazine on how it is technically possible to connect any blockchain without a 3rd party: https://bitcoinmagazine.com/articles/op-ed-three-technical-requirements-connect-blockchains-without-token/

[playgrounder]

Is it safe to deposit ETH funds into the TenX android wallet?

Can I buy TenX ICO tokens through TenX android wallet and receive the tokens in the app ?

Thanks in advance

You could. Since our app is only available for Android, we encourage people to use MyEtherWallet.
(iOS and webApp will be available by August latest)

[cabin]

There is a similar project called Monaco. What differentiates TenX from it?

We have a comparison on our website: www.tenx.tech
Short version: WE ARE LIVE - Monaco is only a concept... nothing proven. We do not charge any fees, we work with more currencies, we have a better backend, etc.
Monaco is a whitelabel solution without any actual tech.

I checked http://www.tenx.tech but i did not see the comparison or difference between your project and the one mentioned but i know it is a great project.

Will your card be able to solve paypal, amazon, aws, google etc verification process ?

[playgrounder]

I checked http://www.tenx.tech but i did not see the comparison or difference between your project and the one mentioned but i know it is a great project.

Will your card be able to solve paypal, amazon, aws, google etc verification process ?

My bad... go into our whitepaper page 8:
https://www.tenx.tech/whitepaper/tenx_whitepaper.pdf

[JosNekoKopa]

Where can i find list of countries where this visa card will be delivered? Can someone make some comparison with XAPO or Payeer sistem this would be very nice to see. If TenX have advantages over those mentioned for services on ATMs, then we have a winner here.

[renes]

1 ETH = 350 PAY

ETH = $370

1 PAY = $1.05

Thanks I won't buy

[Sharma]

Have Vitalik really invested in Tenx? Why did he only say he will give advise to  @omise_go and @loi_luu 's Kyber ?
Why didn't he pay attention to his investment in Tenx?

i think vitalik not invested this project

It's ok if you think that - go on his fund's website and check the facts: www.fenbushi.vc

Is fenbushi owned by Vitalik?There is no clear information on fenbushi.vc website that explicitly mention that Vitalik invested in TenX.

[keybaud2]

Is fenbushi owned by Vitalik?There is no clear information on fenbushi.vc website that explicitly mention that Vitalik invested in TenX.

Go on, at least try before asking pointless questions. Go to the link, clink on Team, look at the glorious photo of Vitalik. Then click on Portfolio Highlights and see TenX is listed.

Ta daa. Vitalik is a co-founder of Fenbushi Capital, who have invested in TenX.

[pabloangello]

1 ETH = 350 PAY

ETH = $370

1 PAY = $1.05

Thanks I won't buy

Why exactly?