Blockchain Solution Developer “PundiX” completes Token Burn of 1.2 Billion NPXS

[Xangle]

Blockchain Solution Developer “PundiX” completes Token Burn of 1.2 Billion NPXS Tokens
- 1.2B NPXS, worth approximately $150,000 USD
- Token burn intended to maintain token value over time

https://xangle.io/project/home/NPXS/dashboard?link=wmPKwj


[Jan 14th, 2020] According to crypto disclosure platform Xangle, the Indonesia-based payment platform “PundiX” has completed its 1,201,128,531 (1.2 Billion) NPXS token burn, worth approximately $150K USD, intended to keep its token value above a certain level.

Based on PundiX’s on-chain token records, PundiX issued a total of 179,333,710,156 NPXS in 2018, over 3 phases. Worth $188,685,989 at it’s prime, the value has now settled at $22.749,272. Starting from August 2018, they burned 22,155,614,698 NPXS across 6 phases, around 12% of their total volume.

PundiX is using its revenue to burn tokens. An official from PundiX mentioned in an interview with Xangle that PundiX is burning tokens through revenue made from blockchain-based payment terminal (XPOS) sales and transaction fees, and that once the tokens are burned, they are not distributed back into the market.

In an interview with Xangle, PudiX Founder Zac Cheah revealed that their main priority this year will be to find opportunities in developing countries like Africa or South America, to increase cryptocurrency adoption across the countries.

[Dickiy]

so this is the number of times that NPXS burns? because last year I traded on NPXS and the news was that NPXS burned in 2019 and then now I just heard that continuous burn on NPXS is interesting, is NPXSXEM still continuing?

[Teraboy]

That's needs to be more transparent whther the burned tokens are coming from the market that has already bought by pundi team or not. This is why to show the burn address is needed to make sure if what already said by pundi team is real thing.

so this is the number of times that NPXS burns? because last year I traded on NPXS and the news was that NPXS burned in 2019 and then now I just heard that continuous burn on NPXS is interesting, is NPXSXEM still continuing?

Yes it, as you can see if that is still exist in the market right now but this is the different burn that already made by pundi team last year caused by last year burn just coming from the pre-mined coins.

[Dickiy]

That's needs to be more transparent whther the burned tokens are coming from the market that has already bought by pundi team or not. This is why to show the burn address is needed to make sure if what already said by pundi team is real thing.

so this is the number of times that NPXS burns? because last year I traded on NPXS and the news was that NPXS burned in 2019 and then now I just heard that continuous burn on NPXS is interesting, is NPXSXEM still continuing?

Yes it, as you can see if that is still exist in the market right now but this is the different burn that already made by pundi team last year caused by last year burn just coming from the pre-mined coins.

as far as I know NPXSXEM is still in binance dex but last time I saw the market one month ago and for NPXS in binance I was disappointed because of the large volume with trading bot

[terrific]

Token burning will be the other strategy of the coins that have lost attention from the community.
I'm not saying that Pundi X doesn't have the attention of the people, I've known them and they have the pos product which is very interesting.
These token burning has a significant impact for the economy of Pundi and other coins that will do the same.

[Leonardo7]

Generated revenue should have been used for further project development or even charity works that will further expose the project or even marketing. I really don't understand why we create projects to start burning them at the cost of the generated revenue.

[btcdie]

Always deflation. Yeah, there are no more project objectives than deflation, and someone assumes that if supply decreases there will be an increase in prices. 
Assumptions like this are a little wrong in my opinion. if you think more deeply, deflation or burning tokens like there is no point, if the product, marketing, or strategy updates are not improved. Yeah, news like this can indeed raise prices, but it won't take long and will definitely return to the original, if not driven by another strategy. Burning coins or tokens can indeed pump up prices, but if there is no real update everything is useless.

[koang]

Generated revenue should have been used for further project development or even charity works that will further expose the project or even marketing. I really don't understand why we create projects to start burning them at the cost of the generated revenue.

Agreed...
Using revenue to burn tokens is a campaign used by dev to make them look like care and protect investors. Bullshit....
They only like to waste money, while hoping the magic word "deflation" will increase prices

[iamaruf]

I am worried about NPXS.they are working but day by day price going down.after ATH NPXS down and they can't up,now price is shit.Few months ago my NPXS price was 120$+ now price is less than 30$.Also they stopped reward for staking.   

[Winscosinally]

Honestly burning of token is not always the solution to increase value of a token, pundix is a very popular project now i expect more than burning off tokens from them and this is not the first round too, anyway it's all good, i hope this will have good impact on value

[mdzahed134]

Token remove is not working in the Pundi project because this is 3 phase of token burning. Last year oct 02 total 17 billion token burned 2 billion NPXS and 15 billlion NPXSXEM tokens. No changing price graphic both of tokens. PUNDI team trying best to increase price NPXS/BTC pair was removed from Binance exchange just to reduce dumping. I trade around 21 satoshi it was highest price but now it’s going huge dump only 2 satoshi in the current market.                   

[kindbtc]

This is a little strange for a project linke pundix, i mean we all know it is a genuine project and they have burnt large supply of their tokens in last few months still we have seen that the price is always slipping down, looks like large hodlers abd investors have lost interest in the project and they are slowly exiting that is causing continuous dumps in the price of npxs.

[Diamond_Darrell]

Thanks for the information. It would be very nice to see the original interview or article in Xangle. I understand that this is she https://xangle.io/project/home/NPXS/announcements/5e191a30004785397b2ca40f

[dataispower]

It's ironical that even with all development progress by PUNDIX the price has been nothing to write home about. I expected this burn to atleast have little influence on the price but to no avail. However, I'm really impressed with PUNDIX team so far, I'm holding NPXS anyway hoping for the best.

[CjMapope]

Blockchain Solution Developer “PundiX” completes Token Burn of 1.2 Billion NPXS Tokens
- 1.2B NPXS, worth approximately $150,000 USD
- Token burn intended to maintain token value over time

https://xangle.io/project/home/NPXS/dashboard?link=wmPKwj


[Jan 14th, 2020] According to crypto disclosure platform Xangle, the Indonesia-based payment platform “PundiX” has completed its 1,201,128,531 (1.2 Billion) NPXS token burn, worth approximately $150K USD, intended to keep its token value above a certain level.

Based on PundiX’s on-chain token records, PundiX issued a total of 179,333,710,156 NPXS in 2018, over 3 phases. Worth $188,685,989 at it’s prime, the value has now settled at $22.749,272. Starting from August 2018, they burned 22,155,614,698 NPXS across 6 phases, around 12% of their total volume.

PundiX is using its revenue to burn tokens. An official from PundiX mentioned in an interview with Xangle that PundiX is burning tokens through revenue made from blockchain-based payment terminal (XPOS) sales and transaction fees, and that once the tokens are burned, they are not distributed back into the market.

In an interview with Xangle, PudiX Founder Zac Cheah revealed that their main priority this year will be to find opportunities in developing countries like Africa or South America, to increase cryptocurrency adoption across the countries.

I used to be really leary on PundiX back in the day, but they seem to still be alive nowadays even thru all their ups and downs
i hope to see them lead the space for Indonesia in crypto, i am always a fan of a project that has a good token burn, imo its a good way to show your not greedy and also help long term value of your token
Good Luck to PundiX in 2020!

[huu78]

Burning their supply to interests like this is a good idea, the average developer than throwing out their money coffers is better off using it for personal interests or anything like that. But PundiX is able to thrive and compete on the project and wants to widen their projects around the world so people know and the world knows it will adopt blockchain and cryptocurrency.