By any chance, is there a possible scenario in the future where PundiX or FunctionX team create an auto-compounding contract on top of the current FX blockchain so users can stake their Pundi X and FX and any earned FX will be auto-compounded back so it can truly become a long-term passive “stake and forget about it” method?
For example, PancakeSwap did not have any auto-compound system built into their platform.
But they built something recently where stakers can help auto-compound so that users can just stake and forget about it. When 1 user help to press the compound button, it compounds for the whole pool and everyone get compounded, thanks to that 1 user.
It comes with a 2% profit performance fee, whereby 2% of any earned profit will be used to buyback their own coin and be burnt. This is an extremely good idea.
This is a triple win-win-win scenario.
It burns the coins, speeding the deflationary rate
True passive staking with auto-compound
Free marketing and exposure - when people find out that we can auto-compound a coin with such a huge real-life usecase, people will hop on board more. Just like BNB/CAKE.
The current trend is all about staking / lending-borrowing.
Is this idea also viable for PUNDIX and FX?
It adds another layer to help speed up the process of deflation. Users can stake and forget about it with auto-compounding.
Build something like what PancakeBunny is to PancakeSwap. A tunnel to auto-compound. OR be like PancakeSwap and make a auto-compounding pool with performance fee that will be used to do something that helps to bring the value up - burning, buybacks, community events, gamification.
PundiX on the other hand would need to have the new PR reward token be considered. PundiX has a finite supply and does not have a new minting mechanism, thus staking itself will not generate additional PundiX. I am sure a proposal could be made with the new PR token however to add a compounding gain.
The focuz is adoption and improvement of our function x ecosystem.
A system can be created replica of pancakeswap, maybe( pundixswap), whereas holders of pundix can stake pundix/fxcoin to gain pr, or other token that will be built on fxchain…
Adding auto compounding mechanism, charge for it… slipt the fees to burn both pundix and fx…
I believe many existing token from other chain will want to some potion of there token on fxchain when we start gaining attention and tractions from the world.
Can I ask one question please… if I wanto stake nex 15 years and validator decides to redeem after 3 years, do I have to manually redeem before he/she does or will my redeem be automatic? Can you make it automatic so I dont have to check every day if validator change his/her mind and decide to redeem
@Angie we won’t be able to do that, because we don’t hold your keys. If in the event that a validator ceases to operate the tokens that is in the validator will be return to the delegators, in which case you will re-alocate your tokens to a new validator.
I do all the actions in the fxwallet. I immediately delegate to the validator without requesting a reward, and my reward is received by me without an additional transaction, two operations in one action. (I noticed this during the test period)
