Summary of Function X All-Hands Meeting on 14th July 2022

Thank you to those who participated in the July All-Hands meeting and celebrate the Function X first anniversary together via Zoom. Many were accomplished during this period, and none of them could have been done without the support of the Function X community. If you missed the All-Hands Meeting live session, you can watch the video here.

Or you can check out the brief summary below:

Development Updates

1. EVM Updates
   The 10th proposal to upgrade the f(x)Core to the new version (now 2.1.1) has passed. It is the first voting with 100% votes and on the 5,713,000th block (which occurred approximately on July 16th, 2022 at 12:00:00 UTC) will start to produce a new block on f(x)Core which will come with the EVM support. All the validators will be responsible to upgrade the validator nodes. Once it hits 66.7%, f(x)Core will start to generate the new blocks.
   
   In a very small possibility, if the upgrade fails (which happens to other chains such as EV**S), we will roll back to the old version, and you will have all the documentation.
   
   Once the EVM launches, the dApps will start to launch (such as FXSwap, Bridge, etc.). We are also in discussion with external developers to come and build on Function X EVM. Looking forward to the great time ahead.
2. XChange and XScan Beta Testing
   From now to July 31st, XChange and XScan are now open for public testing. All community members are invited to test the products and 500 XCards are allocated to the qualified participants as rewards.
   
   For more information, please check the forum thread.

Questions from Community

1. SCENE: Will there be any bug bounty programs? Having a bug bounty program is important because it allows the community and white-hat actors to actively start looking for bugs to strengthen the ecosystem, and they will be incentivized to not be bad actors, especially since EVM is coming soon and everyone knows that updates are usually accompanied with bugs everywhere in the crypto space.
   Zac: Yes, we will have the bug bounty. We are currently in discussion to determine the bounty amount, details, and fund source (FXDM or Ecosystem Genesis Fund). In fact, Scene found a pretty critical design issue with f(x)Wallet.
2. SCENE: How soon can we expect f(x)Core to IBC to Cosmos?
   Zac: We are working hard to talk to big players in the Cosmos ecosystem. We have not announced anything yet, since the finality is not yet fixed. What the community can do is, if you find some good connections that you think we missed out on, you can contact Zac or Indra.
   For example, if you have a connection to Keplr / Cosmostation/ etc, you can reach out to our team, so we can push it even further.
3. Erac Anas: Where do you guys see your XPOS scalability in the next few years?
   Peko: XPOS is distributed over 30 countries and can support more than 170 fiat currencies. If any distributor would like to bring XPOS to their countries, they are allowed to do so, and need to make sure the regulation requirements are followed in the country.
   
   There are a few countries where we are applying for another license. Our scalability is dependent on jurisdictions. For the decentralized products, it will be easier to scale, since they are noncustodial products. This is something we are excited about.

Function X Anniversary Celebration

1. TikTok Campaign
   To celebrate the 1st anniversary of f(x)Core, a TikTok video campaign is happening as we speak.
   
   Details:
   Make a 30 second to 1-minute TikTok video about Function X, share the video to Twitter, tag Function X account with #FXCoreTurns1, and submit your video to Function X before August 5th, 2022.
   
   5 winners will be selected, and a Grand Prize is waiting for you to get.
   
   Prizes:
   Each of the winners will get a free f(x)Core 1st anniversary special edition T-shirt, the top 3 winners will each receive, respectively, 300, 200 and 100 USD worth of FX.
   
   And there is the Grand Prize, a round-trip ticket to Singapore to join a blockchain event with the Function X team.
   
   The submissions will go through the FXNEERS selection process. For detailed information, check out the Function X Forum, Medium and our social media.
2. MarginX f(x)Core 1st anniversary Special Edition NFT
   MarginX has prepared a special NFT to celebrate the Function X anniversary, and all the meeting participants will receive the NFT 2 weeks after the EVM launch.
   
   The NFT has some benefits, such as:
   - 10% trading fee rebates.
   - 20% commission from transaction fees of the referees.
   - the NFT will be transferable
3. Anniversary Lucky Draw
   All winners will be contacted via email after the All Hands Meeting.
   - 1,111 $FX to one winner : Axxxn Cxxxr Dxxxn
   - 1,111 PUNDIX to 1 winner; and : I Qxxxt
   - MarginX f(x)Core 1st anniversary Special Edition NFT : all meeting participants.

That’s all for this month. Once again, thanks for your participation in this meeting.

What do you think about our All-hands Meeting in Zoom? Is it a good way for you to engage and participate? What can we do to make it better? We welcome your discussion and feedback at https://forum.functionx.io.