FunctionX Unveils EVM-Compatible Chain To Boost Its Ecosystem
- According to FuntionX protocol, the upgrading of the chain has now been concluded, giving it a block height of over 5, 713, 000.
A popular cross-chain protocol, identified as FunctionX, has now unveiled its EVM-compatible chain (FXEVM). The chain is built on the FunctionX Mainnet. According to the protocol, the upgrading of the chain has now been concluded, giving it a block height of over 5, 713, 000.
Notably, the cross-chain protocol revealed that with the recent upgrade, developers can now move their Dapps to FunctionX. Additionally, it says the new chain provides the mechanism necessary to ensure that the applications function effectively.
With the successful upgrade, the protocol says all the Dapps on the chain will run with low charges and on a reliable platform.
Now, the protocol urges developers to patronize the FXEVM in building their respective projects. It claims the platform allows them to build liquidity pools, DEXes, NFT marketplaces, and a host of others. In a bid to attract these developers, the protocol earmarked over $19 million for fostering the advancement of its ecosystem.
Furthermore, the completion of the advancement now allows subscribers to link their respective $FX with other tokens. This, according to findings, is possible through Ethereum to FXEVM via an FX bridge.
Now, the protocol announces that its f(x) swap is poised to be the first dApps available to subscribers on the FXEVM. As programmed, the swap functions as an exchange, which allows subscribers to swap numerous crypto through MetaMask or other wallets.
Additionally, the exchange will offer a liquidity pool. With this, investors will be able to provide liquidity through trading costs obtainable for trading in the pool.
FunctionX Aims High
As of today, the Function X blockchain is among the first protocols to incorporate an EVM-compatible chain on a popular Cosmos network. According to findings, the protocol intends to emerge as a DeFi platform capable of fostering the DeFi ecosystem.
With the unveiling of the chain, FunctionX believes to be moving closer to achieving such ambition. Notably, it boasted that the new EVM-oriented chain will foster the usage of FunctionX by developers in contributing to the expansion of DeFi.
Worth noting that the protocol intends to build additional use-cases on the ecosystem. However, the unveiling of this EVM is the sequel to the gross incorporation of a retail payment product, known as PundiX chain with marginX, a popular derivatives trading outfit.
Reportedly, the protocol also paves the way for developers to set the chain in line with their respective wants. This, as revealed, is feasible via the usage of the Subnet solution. Similarly, the developers enjoy the acceleration and protection associated with the protocol.
Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”
