The Singapore-based Blockchain company TenX which received over 200,000 ETH in their token sale end of June has announced that their PAY token will be moveable and tradeable on one of the largest crypto-exchanges in the world, Bittrex, this Friday (July 7th) at 4 p.m. UTC.
In total, there will be close to 205 mln PAY tokens that will become moveable, without anyone being able to do so before. This will provide an equal playing field for sellers and will give buyers a fair purchasing opportunity.
The team explained that they would start exclusively on Bittrex to provide maximum liquidity in one single place.
Each PAY token is entitled to receive a part of the rewards from the entire TenX purchasing revenue, similar to how staking happens in other cryptocurrencies.
However, PAY tokens kept on an exchange will not be entitled to this reward.
TenX advises that users should, therefore, consider keeping their tokens in a wallet if they don’t plan on selling them and would want to receive ETH rewards, which will start being paid out soon afterward.
The road ahead
Anyone interested in buying the tokens should prepare their accounts and have funds ready on Bittrex ahead of time.
Over 30,000 people ended up empty handed after the token sale, and this will be a second opportunity for them to acquire PAY tokens once they trade on the exchange.
TenX originally had planned to have PAY listed on an exchange only by the end of July.
Julian Hosp, co-Founder and CVO of TenX, says:
“Working with Bittrex ahead of schedule at the beginning of July once again reaffirms TenX’s philosophy of under-promising and over-delivering, and sheds a positive light at the road ahead.”
TenX, which we have covered in a previous article, is a Singapore-based fintech company that makes cryptocurrencies spendable anytime and anywhere, by offering a debit card payment system to its users on the frontend, and by connecting Blockchains at the backend through the Commit Protocol.
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