Announcing the Function X EVM Mainnet Launch
With $20 Million of our 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 at block 5,713,000.
This upgrade, which occurred approximately on July 16th, 2022 at 12:00:00 UTC, allows developers to migrate their decentralized apps (dApps) to Function X instantly and 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 a decentralized finance (DeFi) blockchain platform that strengthens the DeFi ecosystem. Our mission is to encourage developers to use Function X to contribute to the advancement of DeFi and blockchain technology.
As stated in the June Hash Out article, Function X is a product supported by use cases and with the f(x)EVM launch, we 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 using the Subnet solution while inheriting Function X’s speed and security.
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. f(x)Swap will be one of the first dApps that will be available on f(x)EVM. It’s a decentralized exchange that 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, 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. 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 our 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 is allocated 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 Foundation
Function X Foundation is a nonprofit, independent organization that supports the growth of the Function X Ecosystem, a next-generation internet service framework, built entirely on and for the blockchain. It is a completely new ecosystem providing a novel service framework by improving the existing internet and blockchain architectures, combining the benefits of both, and using the most commonly used technical solutions. The Foundation has been set up to manage the usage of the Ecosystem Genesis Fund, which aims to motivate, encourage and facilitate service providers to join and get rooted into the Function X Ecosystem.
For more information about Function X, visit https://www.functionx.io
