The crypto wallet provider TenX has recently announced their new ERC-20 coin named TenX Token. This newly released digital asset will be handed out to users who hold the PAY token during the first quarter of 2019.
According to the blog post released by company, certain elements of the ERC-1462 standard will be incorporated into the security tokens that shall follow local securities regulations.
The TenX token is a ERC-20 rewards token on Ethereum with features of ERC-1462. Depending on factors such as TenX Pte Ltd’s earnings, financial position, cash flow, capital needs and general business condition, rewards on the TenX token may be paid in the form of a tradeable cryptocurrency (i.e. PAY).
Users who wish to receive these newly made tokens will need to have control over their private key of the public address. Meaning, users that hold their funds in exchange platforms, will not be taken into consideration during the issuance.
It should be noted that those who are based in sanctioned countries will not be eligible. Here’s a list of said countries,
Residents of any country except residents of Afghanistan, China, Crimea Peninsula, Cuba, Eritrea, Gaza Strip, India, Iran, Iraq, Kosovo, Lebanon, Libya, Myanmar (Burma), North Korea (the Democratic People’s Republic of Korea), Palestine, Somalia, South Sudan, Sudan, Syria, United States of America, Venezuela, Yemen.
TenX will also need PAY token holder to follow a strict KYC process if they wish to gain owner ship of these newly released tokens.
TenX Tokens seems to be quite interesting, but news has been mixed with this release. TenX itself has been under a horde of negative comments lately, their token might suffer from it. Even so, It’ll be interesting to see how far this token manages to make it in the future.
Are you planning to get yourself some TenX Tokens?
Let us know your thoughts.