TenX (PAY) is revolutionizing the way we transact with cryptocurrencies, making it easier than ever to spend digital assets in everyday life. With its cutting-edge payments platform, TenX provides a unique solution that bridges the gap between cryptos and traditional fiat currency. The platform features the PAY token, which fuels transactions within the TenX network. By offering services like a crypto card and a versatile wallet, TenX enables seamless crypto-to-fiat conversions via the Visa payment gateway, allowing users to spend their crypto almost anywhere. Dive into the world of TenX and discover how it's accelerating the mainstream adoption of cryptocurrency for everyday transactions.

What is TenX (PAY)?

TenX (PAY) is a payments platform designed to enable users to utilize cryptocurrency for daily transactions. The company’s mission is to accelerate the adoption of crypto among mainstream consumers. The PAY token is the cryptocurrency used within the TenX network for transactions. TenX offers a crypto card in selected countries, which works in tandem with the TenX wallet to channel supported cryptocurrencies through the Visa payment gateway. To facilitate everyday purchases, the network performs token swaps from the chosen crypto asset into the relevant fiat currency.

Token Market Data

Understanding the market data of TenX (PAY) is crucial for potential investors and users. Here are the key statistics:

• Current Price: $0.0103
• Market Cap: $2,117,045.99
• 24h Price Change: -2.34%
• 7d Price Change: -0.71%
• 30d Price Change: 24.30%
• 24h High: $0.0106
• 24h Low: $0.0099
• All-Time High: $86.2599 (2017-07-06)
• All-Time Low: $0.0061 (2024-01-06)
• Circulating Supply: 205,218,255.95
• Total Supply: 205,218,255.95

Purpose and Utility of the TenX Crypto Token

Solving Daily Transaction Problems

The TenX crypto token, also known as PAY, is designed to enable users to use cryptocurrency for daily transactions. The primary problem it addresses is the difficulty of using cryptocurrency for everyday purchases, as many merchants do not accept crypto as a form of payment. By using the TenX card and wallet, users can spend their cryptocurrency at any retailer that accepts Visa cards, making it easier to use cryptocurrency for everyday purchases.

Key Features and Benefits

1. Rewards for Token Holders: Users who hold PAY can earn rewards in the form of additional PAY tokens. These rewards are distributed to incentivize and encourage users to hold and use the token.
2. Transaction Fee Payment: PAY can be used to pay for transaction fees on the TenX platform, providing a seamless experience for users.
3. Governance Participation: PAY holders can participate in the governance of the TenX platform, voting on proposals and decisions that impact the future development and direction of the payment system.
4. Supported Cryptocurrencies: TenX supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, giving users more flexibility in their payment options.
5. User-Friendly Mobile App: TenX offers a user-friendly mobile app for managing and using cryptocurrencies, providing a seamless and intuitive experience for users.
6. Real-Time Price API: DIA's TenX Pay Token API provides real-time price data for PAY, transparently sourced from multiple CEXs and DEXs.

Tokenomics and Distribution Model

Supply and Demand

The total supply of PAY tokens is 205,218,256, with no maximum supply cap. The token supply is designed to encourage widespread adoption, making it easier for users to access and use the token within the ecosystem. Demand for PAY tokens is driven by their utility and governance rights within the TenX ecosystem. Users can use PAY tokens for value exchange, tolls, functions, currencies, and earnings, which incentivizes them to hold and use the tokens.

Distribution

The distribution of PAY tokens is crucial for aligning incentives and determining the dynamics between early investors and users. The initial distribution of tokens to different parties, including the founding team, investors, community, and other stakeholders, plays a significant role in this alignment. However, the specific percentages allocated to each group are not provided in the sources.

Vesting and Lock-Up Periods

Vesting schedules restrict the sale of tokens for a determined period or after a specific event, ensuring that developer and insider motivations are aligned with those of token buyers and preventing large price fluctuations. This mechanism helps maintain stability and prevent sudden price changes due to large token sales by insiders.

Emissions

The rate of token emission determines whether a token is inflationary or deflationary, impacting the selling pressure the protocol faces. A lower emission rate can contribute to a deflationary environment, potentially driving up the token's value.

Team Behind TenX

Core Team Members

1. Toby Hoenisch: Co-founder and CEO of TenX. Toby studied cryptography at university and has been involved in the blockchain space since 2011. He has experience in trading Bitcoin and has participated in MasterCard hackathons. Toby co-founded OneBit, a debit card project using Bitcoin, which later evolved into TenX.
2. Paul Kittiwongsunthorn: Co-founder and CTO of TenX. Paul has a background in computer science and has been involved in the blockchain space since 2011. He is responsible for the technical direction and development of the TenX platform.
3. Michael Sperk: Co-founder and COO of TenX. Michael has a background in business and has experience in startups and operations management. He is responsible for the day-to-day operations and growth of the company.
4. Julian Hosp: Co-founder and advisor to TenX. Julian is a medical doctor and has experience in blockchain, cryptocurrencies, and entrepreneurship. He provides strategic advice and guidance to the company.
5. Dr. Filipe Castro: Co-founder and advisor to TenX. Filipe has a background in computer science and has experience in blockchain, cryptocurrencies, and entrepreneurship. He provides technical advice and guidance to the company.

Notable Advisors, Partners, and Investors

TenX has partnered with Dentons, a global law firm with expertise in venture technology and emerging growth companies. Dentons represented TenX in its initial coin offering of 200,000 ETH (US$34 million).

Unique Features of TenX

COMIT Protocol

The TenX platform includes the COMIT protocol, which allows transactions to be conducted between several blockchains. The protocol is based on the Lightning Network, enabling transactions to be conducted off-chain using Hashed TimeLock Contracts (HTLC). The Lightning Network requires liquidity to function, and the system creates incentives for TenX Wallet users to keep funds in their wallets to provide this liquidity.

Enhanced Security

Users can set limits on spending, withdrawals, and purchases using Decentralized Security Smart Contracts, preventing unauthorized card usage. The TenX wallet, available on both