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.
The amount contributed will in turn represent 51% of all PAY tokens. Should this amount be
reached before the end of the sale on the 24th of July 2017 10.59am UTC, we will cut off the
sale.
In the case of a lower contribution, the percentage of 51% of all tokens will be adjusted
accordingly.
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.