TenX

At TenX we work on making any blockchain asset spendable instantly

If you want the quick and dirty token sale overview, here it is: https://www.tenx.tech
Whitepaper: https://www.tenx.tech/whitepaper/tenx_whitepaper_draft_v04.pdf

The detailed version:
When we as the co-founders of TenX got together to start this company, it was our vision to have assets on the blockchain, not only available to industry insiders but rather something that can be used by any user in the real world.

Additionally, with the emergence of more and more different tokens, a growing number of users and businesses truly struggle to leverage infrastructure to make this inter-connectedness of physical and virtual platforms become a reality.

At TenX, we strive to offer the user access to an as large as possible range of blockchain assets at a maximum degree of convenience, while adhering to the highest security standards in the ecosystem.

We are able to do this by connecting blockchains, leveraging on the COMIT Standard (www.comit.network), which works in a completely trustless, instant and at a no cost manner.

To the end-user, we offer a debit card and accompanying mobile wallet that can be funded not only with Bitcoin (BTC), Ether (ETH), Dash (DASH) but with virtually any blockchain asset. A TenX wallet can be used in almost 200 countries at over 36 million points of acceptance today. This is possible as we have partnered with major credit card companies such as VISA and Mastercard.

Moreover, users and businesses can exchange their blockchain assets seamlessly from one to another in a decentralized manner, removing any risk that is associated with current centralized solutions.

Watch TenX being used in real life:
https://www.youtube.com/playlist?list=PLY8v3jLUM10no1E6OA7r18O49Pftr3YGi

Download our app and try it out yourself:
https://play.google.com/store/apps/details?id=com.onebit.app

Status Quo TenX

Current status of TenX, the company as of May 2017
   Recruited a talented, hard working team of developers, designers, lawyers, marketing experts, cryptography and security experts, as well as bankers and accountants to lay the base for exponential growth
   Built TenX Wallet to allow for instant multi asset transactions and payments
   Global debit card partnership to allow for instant payments at over 36 million supported merchants worldwide directly with your blockchain assets
   Rapidly growing user-base
   Successfully completed a 1 million USD seed round from highly respected investors (Crunchbase) in March 2017
   Backed by highly experienced advisors such as Vitalik Buterin, creator of the Ethereum Foundation, David Lee, FinTech Professor at Singapore Management University, Bo Shen, Partner at Fenbushi Capital and many more to guide us on our journey
   Excellent industry support by being selected to join the Paypal incubator program in Singapore, giving us access to highly valuable legal and commercial support

Current status of the TenX Wallet as of May 2017
   Working product that has been live since the beginning of 2017
   Beta test successfully completed with 1,000 users in Singapore
   Transacted over 100,000 USD in spending volume during the Beta test
   Bitcoin, Ethereum (including ERC20 support) and Dash integrated (Link)
   International roll-out to all major countries except for the US, which will follow by the end of 2017
   WebApp and iOS roll-out by July 2017
   Successful transactions carried out in over 50 countries

We at TenX are hereby announcing our Token Sale on:
End of June 2017
(Exact date and time to be announced soon)

General Token Sale Overview
End of June 2017 we will offer 80% of tokens to the public. 51% of the total amount of tokens will be put on sale straight away under the ticker symbol PAY. Another 29% of all tokens will be distributed to the public over time. Tokens will be set aside for community initiatives, business development, academic research, education and market expansion to name just a few. The exact details are specified below. A small amount of tokens will be allocated to TenXs founders, employees and early investors as an incentive pool to ensure long-term alignment of interest and commitment to the tokens and their future value.

Each PAY token will be sold for 1/350 ETH, meaning 1 ETH will give you 350 PAY tokens. Other accepted cryptocurrencies will be converted live in ETH. There is a minimum purchase amount of 10 PAY tokens per purchase.

We will sell a maximum of 200,000 ETH worth of PAY tokens or equivalent in other currencies. This corresponds to a maximum of 20,000,000 PAY tokens, which in turn represent 51% of all tokens. Should this amount be reached before the end of the sale on the 26th of July 2017 10.59am UTC (6.59pm SG time), we will cut off the sale within the following 24 hours at latest.

In the case that less than 20,000,000 PAY tokens will be sold, the percentage of 51% of all tokens will be adjusted accordingly. For example, if only 10,000,000 PAY tokens will be sold during the ITS, this would only represent 20.5% of all tokens.

The token holders will receive 0.5% of the whole payment volume that is spent through the TenX debit card. The payments to the token holders will be paid in ETH (Ether), or the closest equivalent thereof in case of ETH being replaced by another asset in the future.
Users of the TenX debit card will receive 0.1% from their spendings as an incentive in form of PAY tokens (similar to how users get air-miles on existing cards today). This incentive to customers will have a great benefit to existing token holders since this recurring redistribution of tokens will create an additional demand for tokens in the market. This additional reward to users in form of PAY tokens is bought on the open market and will create price support.

Please note that we will not issue any new PAY tokens after the Initial Token Sale.

Overview of Token Structure
TenX will issue 80% of the tokens to the public. 51% of all token will be sold immediately, while 29% of the tokens will be distributed to the community over the next 4 years. This is testament to the fact that we want to be open and inclusive of the community, which we perceive as our most valuable asset. We believe it is a strong signal of trust if the community owns more than half of the tokens from the very beginning.
At the same time, we feel it is essential that the incentives of the company are long term aligned with the ecosystem. In order to be able to support long term growth in a sustainable way, founders, early backers and the development team are rewarded with the remaining 20% of tokens in exchange for their efforts and resources contributed to the development of the PAY tokens.

CONNECT WITH US:
Slack: https://ten-x.herokuapp.com/
Blog: https://medium.com/@TenX/
Twitter: https://twitter.com/tenxwallet
Facebook: https://www.facebook.com/tenxwallet/
YouTube: https://www.youtube.com/tenxwallet