So the original PAY token is now some "yet to be determined" utility token while the new "TenX Token" will be the rewards token issued to PAY holders in countries on a short list. PAY holders in the USA, China and sanctioned countries are NOT eligible when the TenX Token is issued to KYC approved PAY token holders. THAT'S a whole-lotta Non-eligible PAY holders that just got SCREWED!
COUNTRIES NOT eligible for the TenX Token issuance:
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.
We are issuing a new ERC-20 rewards token called the TenX token to eligible members of the TenX community.
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). An announcement of the amount of rewards to be paid and when such rewards will be paid will be made every quarter.
In the blog article all the details of the operation
https://blog.tenx.tech/en-tenx-rewards-token-faq-3f5a5f6d7848