FX (Function X)
Next-Gen Asset Offering and Bridging the Traditional and Decentralized Market.
I. Project Introduction
Function X is an ecosystem built entirely on and for the blockchain. Everything in f(x) is totally decentralized and secure, which means that the application source code, transmission, and hardware can be part of the decentralized network. This will be a solution to:
- Reduce data monopolization
- Empower data rights, return control of user data
- Encourage innovations through a fairer platform
It’s designed to be autonomous and trustless. Users have full control of their data.
Currently, Function X has launched it’s mainnet (f(x) Core). Function X has a cross-chain architecture based on pBFT and PoS. Cross-chain, as the name implies, allows multiple chains to be part of Function X. By integrating various blockchain ecosystems (Ethereum and others), Function X is designed to increase the liquidity and value of digital assets created on the Function X network.
Rather than building an ecosystem that competes with Ethereum, Function X aims to leverage on its strengths, for example, by providing asset aggregation contracts, connecting to Ethereum smart contracts, and generating interest at the same time in both (and more) chains. While leveraging the existing Ethereum infrastructure, at the same time FX Core provides an environment with higher speed and cheaper fees.
II. Token Information
1) Basic Information
Token name: FX (Function X)
Total supply: 1,893,022,625
Tokens in Circulation: 471,665,815
2) Token Distribution and Token Release Schedule:
|Party||% of the total||Token Release Schedule|
|Public (NPXS/NPXSXEM holders)||11.25%||15% for holders to stake their NPXS / NPXSXEM for FX tokens (Staking from March 20, 2019 to March 19, 2020);
45% for holders to convert their NPXS / NPXSXEM to FX tokens (Conversion from April 16 to July 14, 2019);
5% for holders who will receive FX tokens through completion of promo / extra tasks.
|Ecosystem Genesis Fund||5.00%||The purpose of the Ecosystem Genesis Fund (EGF) is to motivate, encourage, and facilitate service providers to join and get rooted into the f(x) ecosystem, and to attract early consumers to enrich and enlarge the f(x) ecosystem. EGF will be used as a bootstrap mechanism to encourage adoption before the tipping jar incentives fully kicks in. The release of the token will be decided by governance voting|
|Engineering (Team)||2.50%||Unlocked monthly from May 2019 to May 2020|
|Product and Marketing (Team)||1.25%||Unlocked monthly from May 2019 to May 2020|
|Blockreward||80.0%||The rest of 80% will be distributed over 15 years under a PoS (Proof of Service) concept after Mainnet Launch|
III. Related Links
Official Website: https://functionx.io/home
Blockchain explorer Links:
-ERC20 token explorer: https://etherscan.io/token/0x8c15ef5b4b21951d50e53e4fbda8298ffad25057
-FX Blockchain explorer: https://explorer.functionx.io/
Whitepaper Link: https://whitepaper.io/document/534/function-x-concept-paper
Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Huobi does not take responsibility for any resulting direct or indirect losses.
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