Summary of Function X All-Hands Meeting on 18th November 2021

Thank you for those who have participated in the November All-Hands meeting via Twitter Spaces. We have over 74 participants in this meeting even though experiencing the technical difficulties of connection issues.

Here is the brief summary:

1. Governance Proposal.
   So far, there are 7 proposal submitted and currently there are 3 proposals running on https://explorer.functionx.io/fxcore/proposals. We encourage community members and holders to vote. Find more details below:
   
   a. Cross Bridge to Polygon
   Link to proposal: https://explorer.functionx.io/fxcore/proposals/7
   Function X foundation is proposing to deploy Polygon onto Function X. This will expand Polygon’s ecosystem and liquidity into Function X ecosystem (incl. Pundi X Chain, FXCore, etc)
   
   b. Cross Bridge to Tron
   Link to proposal: https://explorer.functionx.io/fxcore/proposals/6
   Function X foundation is proposing to deploy TRON onto Function X. This will expand TRON’s ecosystem and liquidity into Function X ecosystem (incl. Pundi X Chain, FXCore, etc)
   
   c. Increase FXCore max validator to 50.
   Link to the proposal: https://explorer.functionx.io/fxcore/proposals/5
   This proposal will increase maximum validator count from 20 to 50, allowing more public-hosted validators to join and help secure the network.
2. Function X Decentralized Marketing
   f(x)DM proposal has passed the voting and 1 million USD worth of FX coins approved by the governance voting is now allocated to this program. It is exciting news, especially for the community. We are now able to set up a mechanism to reward the community members and content creators for their quality contributions to growing the Function X Ecosystem.
   
   The FXNEERS group consists of 7 people, 3 from Function X / Pundi X staff and 4 community volunteers. The selected 3 members from Function X/ Pundi X are David Ben Kay, Judie Liu and Andreas Harpas, the 4 members from the community are Claudio, Scene, Telchar and Cryptowars. This group of FXNEERS will be responsible for reviewing and selecting high-quality marketing materials submitted for Function X official channels and/or Self-Owned / 3rd Party Channels submitted by content creators and community members. Contents are accepted in images/videos/articles/memes/gifs form, or any referral to 3rd parties such as Youtubers/ Podcast Influencers/ Interviewers.
   
   By the end of each month, the top 10 contributors on official social media channels (Reddit, Telegram, Twitter and Function X Forums) will be selected by FXNEERS based on their activity. Once selected, a vote will be cast on Function X forums where the community will vote for the TOP 3 contributors who will be eligible for a reward. 125K USD worth of FX available for rewarding the community.
   
   For details of how to participate and the reward distribution, please refer to the proposal. Community members are invited to submit the work or the link to contribution to fxdm@functionx.io or by filling in the form directly for an entry.
3. Next updates on Function X.
   a. Function X Decentralized Exchange (DEX).
   We are working on our DEX and will be launching the Beta version soon. The pairing on the Function X DEX will be quite different compared to the standard DEX. We are very excited about this and stay tune for further announcement.
   
   b. EVM (Ethereum Virtual Machine) integration to FX Core.
   Our developer team is working on integrating EVM to FX Core. Once integrated, we can easily port Dapps from Ethereum to FX Core. By having more Dapps, it can grow the Function X ecosystem and Solidity developers can also start building on Function X.
4. Questions from community members.
   - From Function X Forum
   1. What is FXUSD?
   We are looking for a way to apply stablecoin to Function X ecosystem, whether launching FXUSD (1:1 to USD) or integrate other stablecoins to FX Core. We will need a stablecoin currency because DEX is coming soon. More details will be shared when available.
   
   2. Public nodes thread in Function X Forum.
   The thread is one of the hottest thread in the forum and it shows the enthusiasm from community to join the ecosystem as public validators. In fact, as of today the first non-foundation mainnet validator has been up, and there will be more coming up next week. Finally the decentralization is taking place.
   
   3. The $1m fund has been deployed from EGF for FXDM allocation. How about the rest of the EGF?
   We want to get more initiative from community the help build the Foundation, and we encourage all the community members to help to grow Function X. You can build things on Function X and we welcome you to apply for the EGF Fund.
   
   And if you have a good marketing proposal, and want to apply for proposal (not FXDM), you can actually submit your proposal to deploy the fund from EGF, and it will be voted by community.
   
   4. Is 10,000 $FX too expensive for proposal submission?
   When we decided the numbers, there are 2 scenarios.
   - Price $FX was lower compared to now.
   - We set up a higher entry point. If it doesn’t work out, we can slowly reduce it.
   If needed, we can propose to reduce it. But for the time being, let’s remember that anyone can start the proposal with 1,000 FX and invite the community members to support the rest of required deposit to iniciate the voting.
   
   - Questions from Raffoul
   1. From technical perspective, why we did not integrate $FX and $PUNDIX to Binance Smart Chain yet?
   Right now, Binance Smart Chain is live on FX Core, and the first token integrated is $PURSE. We still do not have $FX and $PUNDIX yet. It might happen soon, but right now it has not taken place. Hopefully things happen really soon.
   
   2. Is it possible to have FXDM to support me to open a Pundi X store and how do I deal with regulatory requirements?
   We found that some distributors are lack of compliance resource so we would like to come up with a proposal to sponsor/subsidize the resources (up to 90% of expenses) to solve the issues. Hopefully we can get the proposal up soon. XPOS is also part of Function X ecosystem, and the expansion will be crucial and beneficial for the growth of ecosystem.
   
   - Question from Jacky.
   Do you have agenda for the marketing from internal team, or just rely on the holders?
   Yes, there are marketing plans for both Function X and Pundi X. We are focusing on the merchants side to acquire merchants and users. There are a lot of works that community did not see, including merchant onboarding, training and guidance of Pundi X branding.
   
   Other than that, we are also in touch with crypto influencers, and doing co-marketing with partners such as Chainlink and Ingenico to promote the projects and spread words about cryptocurrency.
   
   Lastly, our ecosystem is complex and we would like to focusing more on customer acquisition and marketing partners. When we expand to certain level, we can do the paid marketing to maximize the volume that we have.

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 Twitter Spaces? Is it a good way for you to engage and participate? What can we do to make it better? Welcome to discuss and feedback at https://forum.functionx.io