PXP token swap FAQ
What is PXP Token?
PXP is based on the own Mainnet and Avalanche blockchain token that allows you to earn higher yield from staking, cut maker/taker fees on PointPay Exchange, reduce withdrawal fees, and pay trading fees in PXP.
How to buy new PXP Token?
You can buy new PXP token on PointPay Exchange (Quick/Classic/Advanced Exchange).
How to swap PXP Token?
First of all, you need to log into a verified account that has old PXP tokens in its balance. If so, you need to go to the top of this page. There you will see the “Swap” block. This block allows you to apply to replace old PXP tokens with new ones.
Will the swap happen automatically or not?
We would like to remind you that the official swap period ended on May 2, 2024. However, at the moment, to accommodate users, we continue to accept and process swap requests manually.
Please, contact our customer support via chat or email: support@pointpay.io
When will I need to transfer my PXP to my PointPay account?
The swap was conducted in the period from 12/03/2024 to 02/05/2024
During this time, users made PXP deposits for subsequent swap to the upgraded PXP token.
Will there be some kind of coefficient applied?
Yes, according to the new economic model the following approximate ratio will be applied during the swap: 8.2:1
This means that for every 8.2 Old PXP you will receive 1 New PXP token.
How long should I wait for new tokens to be credited to my balance?
The swap will be processed by our specialists, so the process will take some time. Typically 24 to 48 hours.
What should I do if I don’t see new PXP tokens credited to my balance?
If more than 48 hours have passed by this point, please contact support for more information: support@pointpay.io
Do I need to transfer tokens to my Spot account?
Yes, the swap will be obtained from the Spot account balance. However, tokens from your Earn account and Staking will be transferred automatically.
When will Staking and Earn account use be available for the new PXP token?
You will be able to use it immediately after the swap.
Do I have to go through KYC?
Yes, in order for the swap option to be available, you must pass verification. In case you had some issues with passing KYC on the PointPay, please contact our support team.
Why are you doing a PXP swap?
Our primary aim in swapping the PXP token is to refresh the project's economic activities and introduce the community to the full range of the project's utilities.
Smart Revamp: new updated modern smart contract with audit from leading companies;
Token Boost: powerful marketing activity of the token and increased awareness of the project;
Token Integration: activation of the token community and involvement in the updated PointPay exchange ecosystem;
Model Advancement: the updated economic model of the project will take it to a new level and in the future increase capitalization;
Capability Boost: new token format will expand its capabilities and utility functions.
What are the benefits of PXP?
Users who have PXP tokens on their balance receive the following benefits: reduced trading fees and commissions for withdrawal of funds (depending on the quantity and level in the PointPay ecosystem), staking at higher interest rate, the ability to take part in voting on the platform, and more.
What networks will support the new PXP?
The main networks of the new token will be Avalanche, Ethereum and Binance Smart Chain (BSC).
How can I find out the smart contract address of a new PXP?
New PXP smart contract addresses on the supported networks
Avalanche:
https://avascan.info/blockchain/c/address/0x15FA5d3DBD11a831b72B92C1705BC9F801E233CB
Ethereum:
https://etherscan.io/token/0x15FA5d3DBD11a831b72B92C1705BC9F801E233CB
Binance Smart Chain (BSC):
https://bscscan.com/token/0x15FA5d3DBD11a831b72B92C1705BC9F801E233CB
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