Summary of Function X All-Hands Meeting on 16th June 2022

Thank you to those who participated in the June All-Hands meeting via Zoom. If you missed the All-Hands Meeting live session, you can watch it here.

Or you can check out the brief summary below:

1. FXDM updates
   The new round of FXDM winners is announced. We have the most number of submissions this month and received more good quality videos. From the end of April to May 22nd, we have received 54 submissions to FXDM, which is over twice the amount of the previous month.
   
   The number of submissions is still growing as of today. It is the result we and the community like to see for FXDM. Thank you for the participation and we look forward to seeing more.
   
   A nice tip to all participants, the originality of the content is highly valued. We welcome the community to create contents on their own based on the materials we provided in FXDM website and our published articles. Next month is the 1st anniversary of Function X mainnet launch. A campaign will take place in celebration. Stay tuned for the upcoming announcement.
2. MarginX (from 1:49–21:00)

• Introduction to MarginX new logo

• MarginX introduction from 7:15 to 11:53
• MarginX is launching a new campaign (Beta Challenge) with a total 5000 $USDT reward for 5 categories. The campaign will start from June 17, 2022 until July 16, 2022 (GMT+8).
  
  Categories:
  a. Top 10 Gainers
  b. Top 20 Commission Earners
  c. Top 10 Contents Creators
  d. 500 Beta Challengers
  e. Social Media Giveaways
  
  For more information, you can visit https://marginx.io/.
• MarginX will also introduce “The First Alliance”. It will come in the form of NFT. 1000 NFTs will be dropped to MarginX users and each NFT has the utility.
  
  Benefits of holding The First Alliance NFT:
  a. 10% Trading Fee Rebates
  Referees will receive a 10% rebate on transaction fees.
  b. 20% Commission
  Referrers will receive a 20% commission from the transaction fees of the referees.
  c. Transferable
• MarginX will utilize $FX as the gas fee token.

Questions from community:

1. (From Hihi Hello) Does this mean that anyone including CEX can tap into Margin X liquidity book for better spread?
   
   Danny: Yes, once you can connect with MarginX SDK and API, you will be able to push your order book from CEX to MarginX. During the Beta testing, the external market maker team has tried to transfer the order book from NASDAQ to MarginX. The infrastructure is ready.
   Zac: We realized there will be a lot of transactions happening on MarginX. All of these transactions will utilize $FX as the native token. It will add tons of transactions to the Function X blockchain from MarginX.
2. (From Richy Shadowlux) Is there something in place to prevent malicious fake order books from entering to affect price?
   
   Danny: For every transaction (from creating order to cancel order), it will require $FX as gas fee. It is the cost that malicious order creators need to pay. There will be a governance voting in place to blacklist the particular wallet addresses.
3. (From Hihi Hello) ​​For the initial liquidity once Margin X launches, may I ask who will be providing it? Is it market makers?
   
   Danny: Yes. We are inviting external market makers and they are willing to join because in MarginX. When trading on MarginX, you are the owner of the tokens (decentralized).
4. (From Shady) What will be crypto assets allowed to be traded on spot trade mode?
   
   Danny: MarginX will focus on perpetual trading. But there will be another product focus on spot trading (built on Function X).
5. (From LKYBOB) Question about the DeXPASS card, say that you activated a card & it’s connected to 1 of your f(x)Wallet accounts and you went overseas without your card & but you could acquire the cards seed, will you be able to either access the card funds via the f(x)Wallet it registered to or would you be able to acquire another card and activate the card wallet you left at home on another card?
   
   Zac: Every time when you activate deXPASS, you are actually using the seed key and you will be able to access it via f(x)Wallet. As long as you have the private key, you can retrieve it in the blockchain wallets that support the private key. [PLEASE TAKE NOTE THAT THIS IS THE DEVELOPMENT PLAN. THE PRIVATE KEY MANAGEMENT METHOD WILL BE SUBJECTED TO CHANGE BASED ON THE EVALUATION OF THE BEST SECURITY PRACTICE OF USER’S PRIVATE KEY MANAGEMENT]
6. (From SCENE) Will auto stop-loss and take-profit triggers be available in the future?
   
   Danny: Yes, we will take this suggestion into consideration and implement it in the future.
7. (From Shady) Regarding the dapps on testnet EVM, when will a new batch of dapps be added by devs?
   
   Zac: We are testing several dapps on Testnet and FoxCoin is also testing the NFT marketplace on testnet. We are discussing with some developers to come and build on Function X when the Mainnet launches.
8. (From FrenchXCore) Would it be possible for the team to consider a launchpad experimentation ? For a token to be launched on a parallel chain but IBC’d to FX ?
   
   Zac: It is possible to do. For this case, it will be more on the logistic side (find project partners and parallel chains that are Cosmos compatible). It will be an early experimental for dual chain project.
9. (From Shady) As this question mentioned before what will happen once the parachain reaches max transaction and response and starts to have overloads. will it create another subchain to diversify it ?
   
   Danny: In MarginX, we have a dedicated subchain for every trading pair. We will enhance the number of validator nodes and upgrade the server if the transactions reach the maximum.
10. (From Riz Truth) Will someone on coin98 wallet be able to trade on MarginX? They have a very large user base. Also, once EVM is launched will metamask users be able to use it.
    
    Indra: Coin98 has integrated f(x)Core to their mobile app and in the next few weeks, we will integrate Coin98 wallet to our governance and staking page. The next one on the list is to integrate f(x)Core to Coin98 extension wallet and also EVM integration. We will discuss to add support to MarginX with them.

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.