i think fx supply right now is good
no need redomination
fx just need real usecase and marketing
crypto developer came and joint
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Very good debate.
I just put my though initially … mainly for listing in to binance. But did not think it through. Very good points on psychological effects of it. So now I am not sure if its really worth it.
At the same time I am struggling to see how we can stir up this project … apart from MarginX and meme coing frenzy … we need to see want we can bring to fx chain which can increase the utility of it.
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And maybe silly or irrelevant suggestion/question: would some sort off burn mechanism alla pundix (instead of 100:1) be a possibility?
Would that have the same psychological (price) effect?
Or maybe technicaly not possible?
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Anyone can burn a token he owns.
We could even propose to burn all the FX community pool if voted…
That, of course, should drive the price up since the circulating quantity is decreasing. But that’s only theoretical…
Hahaha yes that’s true.
So… nah… forget that suggestion 
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Missed some points from Zac earlier post. Looks like we will add some AI aspects to FX and rebrand it to FXAI(or similar) … if that’s the case then we might already have a stri up and may be re-domination is not required.
But I will leave the decision to the team as I believe they will choose what is best for fx going forward.
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In summery of most people I have discus these changes with, all are excited about the Network merge itself, Ai - new features & future features - branding & CEX listing prospects, The best parts of the merge are in these details; there is likely much to be gained from these changes alone - especially the network merge this brings an essential simplification to our ever changing environment. We are in the low of our market & it is time to do something, So in all the community & team are very much excited to bring about those changes, the team are working hard in the background preparing all the steps to then present us with the voting to move forward & the proposal.
As usual people feel it’s all about market - I would not of put market in the conversation but here we are debating old FUD with amateurs again & their expert opinion; trying to convince you how this will go.
the main reason the redonomination is having push back as I already told the team they would, is because of the stigma Fudders brought into play the market; In my last message I also mention the other factor, Psychologically it will have a bad affect if the same FUD rules the market again, for every seller there is a buyer the market only goes down when people sell at a loss, so the inexperienced sold & believe the FUD.
what nobody can predict is how the market will play out, I found that the scammers & Fudders in among the market players where over whelming; and it’s to this factor creates great difficulty in decisions & the new late buyers in the next market will become the new FUD carriers are my prediction.
For the project it’s about weighting up the known benefits to the ecosystem in redenomination, it’s not better to consider it later out side these changes because the contract creation to change & merge it all is complex so to have a separate redenomination do over; is not really the right way to go about it. it either will or will not redenominate in this Merge. you’ll find the bigger whales in here & committed supporters will just go with the Projects decisions.
All Blockchain projects rely on the people to know how to handle their funds & to navigate all possibilities, they can’t predict it either and it’s not their place to market advise you; so they have to rely on you taking responsibility for the depth of your own funds you risk at your own risk knowing the risks. knowing the No:1 Rule don’t spend what your not prepared too loose!
Don’t over concern your self about it, the voting process is still yet to come, so nothing is set in stone yet, the team are taking note’s and will set out the detail for everyone to make your blockchain vote.
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I still think that the rebrand change is very good with everything, except the change in supply… we do not have to artificially influence the price due to a change in supply… it only leads to manipulation so that people leave ((although with a sale there is a purchase)) but the one who buys is incentivized by price manipulation. You have to get new users so that they make a price change organically, otherwise we will only get disenchantment among new users… ((and it is logical that people think badly)) cryptos are a world that people enter with a lot of Be careful because there are scams everywhere you go, we cannot artificially influence the price by changing supply. all organic and explaining that we have the best network in the crypto market. I take this opportunity to request that we look to achieve ISO20022 so that BCs have even more reasons to adopt our chain for their uses. Excuse me for my impulse to say that a change in supply is to steal, but that’s what I think… You should NOT influence the price artificially!!! under any concept!!
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What FX Needs to Do to Obtain ISO 20022 Certification
ISO 20022 is an international standard for electronic data interchange between financial institutions. For Function X (FX) to obtain this certification, it must follow several steps and meet various technical and operational requirements. Here is an overview of what would be needed:
1. Understanding the ISO 20022 Standard
- Definition and Scope: Ensure that all participants and developers fully understand the scope and specifications of the ISO 20022 standard.
- Documentation: Acquire and study all official documentation related to ISO 20022, including specific messages and data models.
2. Evaluation of Current Infrastructure
- Platform Analysis: Conduct a detailed analysis of Function X’s current infrastructure to identify gaps and areas that need to meet ISO 20022 requirements.
- Message Compatibility: Assess the platform’s capability to handle financial messages that comply with the ISO 20022 standard.
3. Development and Adaptation
- Message Design: Adapt or develop new messages and data structures according to ISO 20022 specifications.
- Protocol Integration: Ensure that communication and data transfer protocols are compatible with ISO 20022 requirements.
- Security and Compliance: Implement security and compliance measures that meet international standards and best practices.
4. Testing and Validation
- Interoperability Testing: Conduct thorough testing to ensure that FX systems can interoperate correctly with other financial systems using ISO 20022.
- Simulations: Run simulations and stress tests to ensure the capability to handle large volumes of data and transactions according to ISO 20022 standards.
5. Documentation and Audit
- Comprehensive Documentation: Maintain detailed documentation of all developments, changes, and tests performed to comply with ISO 20022.
- Internal and External Audits: Conduct internal audits and collaborate with external auditors to validate compliance with the standards.
6. Certification
- Apply for Certification: Initiate the formal certification application process with the appropriate body.
- Evaluation by the Certifying Body: Allow the certifying body to conduct a comprehensive evaluation of the system to confirm compliance with ISO 20022.
7. Training and Education
- Train Personnel: Ensure that all relevant employees and collaborators are trained in using and maintaining ISO 20022-compliant systems.
- Continuous Updates: Establish an ongoing update program to stay current with ISO 20022 standard evolutions.
Potential Challenges
- Technical Complexity: Adapting a blockchain to comply with ISO 20022 can be technically complex and require significant resources.
- Costs: The costs associated with development, testing, audits, and certification can be substantial.
- Time: The certification process can be lengthy, depending on the preparation and complexity of the existing system.
Conclusion
For Function X to obtain ISO 20022 certification, it must undertake a series of detailed and rigorous steps, including understanding the standard, evaluating and adapting its infrastructure, conducting thorough testing, maintaining precise documentation, and undergoing external audits. This process will not only ensure compliance with the standard but also strengthen the reliability and acceptance of Function X in the global financial ecosystem.
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frankly speaking redenomination of 100:1 does not change the whole picture.
No dilution. No dilution. NO DILUTION and it certainly Not stealing anything from anyone.
As for the statement of “redenomination” will incur the selling of token - i think the selling and redenomination do not co-relate, anyone can just buy/sell it with or without any news, you cannot jump to the conclusion that the 100:1 will cause the buying/selling pressure. I personally do not buy the “redenomination makes the project looks unserious” statement - if a project do not do anything to fit into the current market trend, then this is “unserious”
from my perspective, the 100: 1 redenomination has the following benefits:
-
to be separated with $PUNDIX token
imagine the name of the projects , PUNDIX and PUNDI FX - the name are similar and the price of these two token are similar too , this might confuse people. The redenomination can help to mitigate the confusion -
price gap (spread)
The largest market of $FX is Upbit’s $FX/BTC pair and currently is trading around 200 sats, the movement of every sats is 0.5%, this is not trading friendly. -
New narrative might be able to attracting new users
New branding, new token, new price chart is more likely to provide a new narrative to attract market attention and new community members
After all, a token swap is needed (because of the name and ticker change) and costly, hence if the pro > con, why do not we do it everything in one shot.
On a side note, regardless of the voting result, I think the rebranding and redenomination topic are really attracting discussion and attention (internally), imagine we put it on twitter - I believe we can get more market attention and gaining more new community members
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i don’t know it this is good or not but when NPXS became Pundix it went to 10$ really fast. Anyway I think that changing the $FX name to Pundi FX and delete the Pundi x chain is the best and simplest way. Less risk.
keep it simple always
when would this happen and will there be tutorials 
I can’t delegate yet or can I unelegate the best ones now… regarding the 21 days … so 100k FX is 100 pundi FX 
and Pundix
Sorry its Google Transelate 
1 Like
Fx is FX, PUNDIX is PUNDIX always, Delegate FX if you want too, there will be instruction when the time comes, there is no reason to panic; the merge is networks not coin, FX will possibly become PUNDIX-FX, ( PUNDIX will stay PUNDIX ) if you already have PUNDIX delegated it will be fine keep it working for you, if you have not delegated PUNDIX; personally I would just put it on FX core chain because that’s where we are moving into.
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Are there any institutions requesting an increase (1:100) or a reduction (100:1)? In any case, some say one thing… others another…? The current vote is either 1:1 or a 1:100 increase… can you confirm to someone from the staff that it is being considered? 1fx to 100pfx?
Last note by Zac! Supply decrease not Increase
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Meow,
In Defi world, swapping token into new contract is common for active projects, I am a $Velo holder and we are swapped to new $Velo in June 2023 a year after token launch, this helped our MC grow. As a holder of $fx i hope this happen too, it is a sign of defi-ness.
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Redenomination to 7B supply and 24B total $0.01 Velo can grow? And a token with 700M supply and price $0.11 can’t grow? Maybe it’s not about supply but about the active community that velo has
Hi,
I propose a second X Spaces on rebranding.
Helpful to reiterate and get the messaging out more.
And I’d like to invite active members (eg:validators, contributors, ecosystem builders etc) to speak too, either as a speaker or asking questions so more can hear it. I recommend @LKYBOB @Danny @FrenchXCore @Anthony_Jimenez @cop4200 @CosmosHOSS if you have time, others are encouraged to, if you like. Please ping @indra for it.
Discussion topic
- governance proposals discussion for rebrand ( @Peng or @indra will share ahead)
- rebrand progress check (exchanges communication, ticker finalization, etc)
- AI.
- Q&A ala “Rebrand 101” medium blog post
Say one of below
- 25th July 2024 8pm GMT+8 ?
- 26th July 2024 8am GMT+8 ?
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