Token Redenomination is the process whereby the token of a blockchain project is recalibrated ( that is, changes are made) to produce a new token to replace the old one due to the fact that it might have been devalued or the value was too high such that the low-capital investors could not afford it. When token redenomination occurs, a new value is established for the new token, the token will also be given a new logo and the name of the token will even be changed.

Source

WHAT DISTINGUISHES TOKEN REDENOMINATION FROM CURRENCY OR OTHER ASSET REDENOMINATION?

What distinguishes token redenomination from currency or other asset redenomination is the fact that old notes are always exchanged for the new currencies when it has to do with the fiat currencies. But for tokens, everything is done digitally.
For instance, if redenomination is done to a physical asset or a fiat currency, the holders of those assets or currencies will take it to the bank or relevant agencies to exchange it for the new ones at a fixed rate. But for a token, it is done through an exchange.

ADVANTAGES OF TOKEN REDENOMINATION.

• It gives opportunity to small investors: In a token that experienced hyperinflation before it was redenominated, a lot of small investors will now be able to invest in such cryptocurrency project because the hyperinflation will be eliminated by the redenomination.
• Project boost: When more investors become interested in the token, they will invest more in the project and such project will be boosted. More people will now be interested in it and the project will gain more capital for improvements.
• A better value for the token; In some cases where the token was extremely devalued before the redenomination was done, the redenomination can help to add more value to the token. It will attract more investors; small and bug, and they will give more capital to the project by investing in the token.

DISADVANTAGES TO TOKEN REDENOMINATION.

• Fees: Swapping the old token for the new one that has been made available after the redenomination will cost you a fee. In some cases it might be a very high fee while some might not be so high. But the fact is that you will do it for a fee and this might discourage some people from swapping their old tokens for the new one.
• Swapping rate; In some cases, the token that you will receive after the swapping might be fewer than the amount of token that you swapped. This rate could also discourage the holders of the old token from doing the swap and then the redenomination might end up not being a successful one. This might not be a very frequent thing, but it is possible.

DO ALL CRYPTOCURRENCY PROJECT NEED TO DO TOKEN REDENOMINATION?

Token redenomination is an important tool for cryptocurrency projects that it's token has really been devalued. But it is really not necessary for all cryptocurrency projects, token redenomination is done when the token has experienced massive devaluation or hyperinflation. But it is not all the cryptocurrency projects that witness such things, some cryptocurrency projects have enjoyed smooth running for years without witnessing any devaluation or hyperinflation, so token redenomination will definitely be unnecessary for such cryptocurrency projects.
Token redenomination is always done when a cryptocurrency project is not going as expected, so that the developers of the project will have the opportunity to make the necessary changes and corrections. But if the project is going well as planned, then token redenomination will not be necessary for the token of such project.
So a cryptocurrency project that is progressing as planned without hyperinflation, or devaluation does not need token redenomination.

A TOKEN THAT HAS BEEN REDENOMINATED; NPXS TO PUNDIX.

Source

HOW TO SWAP NPXS FOR PUNDIX.

• To be able to do this swap, you need to download the wallet on the platform's website

• Transfer or Send NPXS tokens and ETH to your f(x) Wallet. You can locate the NPXS and ETH address (always the same address) by clicking on the token icon.

• Then click the address. A pop up of this address will show. Simply select “Receive” to copy the address.
• Once there are tokens in your wallet, click the button at the bottom right corner of the page to go to the CryptoBank page.

• Locate the NPXS swap section and click on “Swap now” to begin the process.

N/B: Before the swap, make sure you use the wallet address that has the NPXS tokens and the address should also have sufficient ETH for the gas fee of the transaction.
• The swap page will pop-up, the default will be that your old NPXS tokens will all be converted to the new PUNDIX, but you can place your cursor on the digits and change it if you want.

• Agree to the terms of the service.
• Then click the “Next” button to process the swap transaction.

• After the transaction is sent, your PUNDIX token will be sent to the wallet that you used.

ANALYSIS OF THE PUNDI X TOKEN PROJECT

Not all cryptocurrency projects have actual effects on real life activities, but Pundi x token is actually a cryptocurrency project that is targeted at improving the cryptocurrency banking services that will help improve the experiences of people.

Pundi X token is a cryptocurrency project that has the purpose of making the spending of cryptocurrencies to be as easy as a conventional credit card. Developers of the NPXS token which is now PUNDIX token have the primary objective of making the token to be used on their Ethereum-based Point-of-Sale (POS) devices. The achievement of this aim gives basic banking services to most of the underdeveloped regions.

PUNDI X TOKEN IN THE MARKET

The Pundi X token is ranked 233 on coinmarketcap and it a sign that the token project is a very good project owning to the fact that there are more than twelve thousand cryptocurrencies.
Interestingly, it is on the watchlist of over 37 thousand users of coinmarketcap, this goes to show how the project has attracted the interest of many investors.

THE FUTURE OF PUNDI X.

The price of PUNDI X as at the time of this writing is $1.363 But the price will likely upsurge as the project continues to record more successes. The real world implementation of PUNDI X token has made the project to be very attractive so it could be more relevant as it continues to actualize real-world application.