Pundi X Will Move Forward With Token Reduction

Pundi X Labs held a poll for its community regarding whether or not to move forward with executing a token reduction.

The community responded with over 88% agreeing to the reduction.

From Pundi X:

After taking the poll result, product roadmap, committee feedback and the market condition into consideration, the team has decided to follow the collective feedback and proceed with the token reduction plan.

We will execute the reduction plan by the end of March. In the meantime, the team will start preparing the new token contract, a new token ticker, swap mechanism and communicating with major exchanges, to smoothen the token transition and token swap.

For users that store their token in major exchanges, we expect no action is needed from the user’s side as exchange will perform the token swap on behalf. For users that store their token in private wallets, we expect users to perform a token swap to the designated smart contract (details will be announced later).

It is not uncommon for a company to execute a token reduction. It’s beneficial in many ways.

This move is poised to be very healthy and beneficial for the community. Pundi X has a very aggressive roadmap and tons of events lined up in the future.

We are very bullish on Pundi X. They have a solid background, a zero fee wallet, a great roadmap and sound products.

pundix.com

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