- Total FIXED amount of Point-X tokens = 88 888 888 PNX
- During the initial Token Sale Point-X plans to release 22 222 222 PNX, and by that to attract $20M with the sale of 25% of total tokens.
- At each stage of Token Sale, besides closed sales, the amount of tokens will be limited.
Structure of token distribution.
- At the Pre-Sale stage 1,200,000 tokens will be available for sale.
Soft cap: 600 ETH
Hard cap: 800 ETH
- TOKEN SALE START 05-06/2018, 21 022 222 tokens will be available for sale.
TOKEN SALE is supposed to be carried out by two methods:
— Free sale with Escrow
|ICO||PRE-SALE/Pre ICO||ICO Tier 1||ICO Tier 2||ICO Tier 3|
|PNX||1 200 000||11 907 407||6 407 407||3 907 407|
|ETH||600||9 790,53||7 404,12||5 383,54|
Crypto tokens CNX / PNX are crypto protected method for receiving a future benefit through Point-X platform.
Upon the completion of Token Sale all members shall receive ERC 20 combined PNX tokens based on Ethereum Platform.
PNX — a utility token, designed to compensate for the services of the platform Point-X.
PNX token can be exchanged to a CNX token, for future acquiring of products, services, and discounts provided by Point-X partners.
Token PNX is a major component of the ecosystem PNX is designed for all types of operations, making it an integral part of ecosystems and a determining factor of its economy. PNX tokens are divisible, portable and fungible.
The number of PNX tokens is limited. PNX tokens burn as they are used.
Transfer of PNX tokens and the rights that follow with it is limited until the launch of MVP, according to the Time Line graph.
CNX is a utility token that is tied to the present value of EURO / U.S. dollar. Token grants its owner certain rights that may include:
- exchange of the token for goods and services
- exchange of the token to a PNX token, that will grant the Point-X club membership to its owner
Limitations — PNX and CNX tokens are limited in its use and fall under the following limitations:
- do not grant any share of ownership in the corporate entity to its owner.
- do not grant its holder the right to receive dividends.
- do not grant its owner a return rights, thus every purchase of PNX or CNX token is final unless otherwise permitted by Point-X platform
By purchasing PNX tokens the user agrees to take the risks and limitations related to the tokens, cryptocurrency and blockchain technology, including but not limited to:
1. The risk of loss of access to the token in case of a lost key or keys
2.Risks that might arise through the use of Ethereum Platform
3.Risk of virus or a hacker attack that could exploit weak spots in security systems
4.Risk of value loss due to fluctuating value of the tokens and other cryptocurrencies
5.Risk associated with government regulations that might limit the use or value of the tokens and other cryptocurrencies
Know Your Client (KYC) process
PNX tokens shall not be offered or exchanged to any user or users that are present or registered in a country where such ownership or completion of transaction shall be considered illegal, or if any other state or local laws prevent such user from ownership of the token.
We do not allow or support such users and reserve the right to cancel or halt the purchase of PNX tokens at any time at our discretion according to our policies. Such cases may also arise if the KYC information is incomplete, inaccurate, illegal, or in any way associated with an individual or an organization that falls under any group or groups of people that are considered to be illegal entities under Point-X policy.
Pursuant to the general practice employed at the Token Sale markets, any company that issues tokens shall make them subject to the Howey test. So that to check whether any relevant token is a security or not. If it is proved that any respective token is a security with a probability of at least 50%, then SEC shall register it, provided that it is intended to be offered for sale to non- qualified investors residing in the USA.
We do not allow buying tokens by the U.S. purchasers.
Most companies apply to the relevant consultants, auditors or attorneys for the so-called ‘legal opinion’ to be issued for marketing purposes. We have consulted with representatives of the leading law firms in New-York and they explained that the so- called ‘legal opinion’ issued upon the Howey test is not deemed a legitimate document evidencing the relevant status of a token.
This is just an opinion expressed by an expert executing the same. As a rule, any such opinion is confidential and is not intended to be published in any publicly available source (i.e. Web sites or White Papers).
We have performed out own Howey test of PNX token pursuant to generally acceptable and existing practices. As a result, it will have been proved that it is not a share with a probability of 80%. The only reason for it failing to be assigned a probability of 100% is that certain holders thereof may have expectations for the token price increase and thus they are inspired to buy the same for speculative purposes. However, it neither affects nor limits sales of PNX tokens to purchasers and has no impact on further use thereof through the platform operated by Point-X. All prospective buyers shall consider this information prior to the purchase thereof.
Interaction with the U.S. Investors
The American capital market is of strategic importance for our company. As such, we hold extensive consultations with experienced legal advisers from the USA to develop a strategy that should allow us to legally offer our tokens to the U.S. clients.
Upon the foregoing consultations and development of the final action plan related to the U.S. market the White Paper may be amended in view of permitted purchase of tokens and use thereof by the U.S. clients.
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