FX1/Diary-28
Welcome to another edition of the weekly diary to bring you up to date on all things FX1.
It’s been a chaotic week as we scramble towards building a product for sports that is yet to exist.
We’re meeting with lots of people on calls, we’re establishing new relationships, and we’re figuring out what we are as a business and what is going to help turn the needle for us.
I just got off a call with our Head of AI this morning, it’s inspiring to see the work progressing knowing that we are truly building something that fills a void, especially within combat sports.
Let’s dive into it.
Jackpot, Baby
Ooooooh we’re getting close.
Our 3rd jackpot is drawing to a close and will finish at midnight UTC on the 11th of December.
You only need to speak to one of our past winners to know how real and exciting this is.
We have a total prize pool of 2,000,000 $FXI tokens to give away, which is currently at a value of ~$58,000 USD.
There will be a total of five winners selected across two segments. People who purchased and held $FXI during the jackpot period will go into a draw where we will select 3 winners to receive 500,000 $FXI.
We will also draw another 2 winners for 250,000 each from the entire pool of buyers and holders no matter when you may have bought.
Head over to our Jackpot page for more information.
FX1 Staking
Here is a preview of the staking feature we’re building, which is just about to kick off in development.
It is really simple:
Buy $FXI and stake for APY yield.
Once you connect your wallet, we’ll scan it for the $FXI you have and allow you to see what you can stake.
You’ll be earning rewards in ETH which will be based on a rate determined by FXI trading volume.
The more $FXI you have staked, the higher your portion of the pool will be and the more rewards you will earn:
Rewards = Trading Volume * Staked %
At any time you’ll be able to claim your rewards, and of course you can also unstake your $FXI at any time, but there will be a 48 hour unstaking period you’ll need to wait before being able to withdraw it.
We’ll also show you a graph to allow you to easily visualize how much $FXI you have staked and available to stake.
The way we see it, you want to get your staked amount to as close to 100% as possible, as that’s the way you’ll earn more rewards.
Hopefully, you’re excited about this being released as much as we are to build it for you. A lot of thought and planning has gone into this, and we want to give a big shout-out to Proof Platform for their help with our staking contract.
To stay most up-to-date, go and join our Telegram group but also know that we have an Announcements channel in case you want to see just the important updates.
Wrapping Up
That’s a wrap for another week.
As always, please give the story some love in the way of claps and if you do ask any questions you have in the comments area, we promise to reply to you.
Telegram // Twitter // Chart // Buy FX1 // Jackpot // Signup @ FX1
