Function X EVM Mainnet Launch
Function X EVM Mainnet launch the platform announced recently. With $20 Million of its Ecosystem Genesis Fund offered to developers deploying dApps on the new EVM compatible chain.
The Function X blockchain project is proud to celebrate its latest milestone: the launch of the EVM compatible chain (f(x)EVM) on the Function X Mainnet and its upgrade to block 5,713,000.
This upgrade occurred approximately on July 16th, 2022 at 12:00:00 UTC. Allows developers to migrate their decentralized apps (dApps) to Function X instantly. It also provides the infrastructure to make sure the dApps run smoothly, with low fees, and on a secured network. Function X is one of the first projects to integrate an EVM-compatible chain on a chain based on the Cosmos network.
The upgrade is crucial to Function X’s goal of becoming decentralized finance (DeFi) blockchain platform that strengthens the DeFi ecosystem. Its mission is to encourage developers to use Function X to contribute to the advancement of DeFi and blockchain technology.
Function X is a product supported by use cases and with the f(x)EVM launch. They will see more new use-cases built on the ecosystem. For example, the f(x)EVM launch follows the successful deployment of a retail payment solution (PundiX Chain) and perpetual derivatives trading platform (MarginX). Function X also allows developers to customize the chain based on their needs. By using the Subnet solution while inheriting Function X’s speed and security.
Mainnet Upgrade Benefits
After the f(x)EVM upgrade, users can bridge their $FX and other tokens (such as FX, PUNDIX, PURSE, USDT, and more) from Ethereum to f(x)EVM using FX Bridge. The f(x)Swap will be one of the first dApps that will be available on f(x)EVM. It is also a decentralized exchange. Permits users to swap different cryptocurrency tokens via MetaMask or any other decentralized wallet supporting Wallet Connect e.g f(x)Wallet.
Apart from swapping, there will also be Liquidity Pools. This is where anyone can become a liquidity provider for a pool and earn rewards in the form of trading fees when users trade in those pools.
Deploying dApps to Function X EVM
Function X invites all developers to come and build on the f(x)EVM. With the dApps, you’ll be able to build include not only DEXes but also liquidity protocols, yield aggregators, NFT Marketplaces, and many more. To top it off, the Foundation is allocating $20 million from its Ecosystem Genesis Fund to attract developers and nurture the development of the Function X ecosystem.
The Ecosystem Genesis Fund is transparent and accessible to all developers through governance proposals. This fund allocates to encourage and help to accelerate the development of Function X (and f(x)EVM).
With the recent f(x)EVM upgrade and new investments into the Ecosystem Genesis Fund, the Function X network is set for impressive growth and exciting times ahead.
ABOUT FUNCTION X
Function X supports cross-chains internally (between f(x)Core and other Function X chains) and among other chains (Ethereum, etc). Through decentralized validators, they can safely move assets between f(x)Core and different chains. This comes with high transaction speed, low transaction cost, ability to trade assets, and other useful scenarios.
