Fx-evm mainnet

Developers Function X Validators
31

Hi validators, there is an upgrade plan to get the following main new feature/plans out

Upgrade plans

  • Enable Gravity Cross-Chain Bridge to allow a many-to-one ERC20 token mapping feature.

    • This would allow tokens of the same type from different chains (registered on the bridge) to be bridged into f(x)Core forming a unified token which is chain agnostic.
    • Example: ETH-USDT, Polygon-USDT, Tron-USDT cross-chain through the Gravity Cross-Chain Bridge, then converted by the fx-ERC20 module, and unified into a FX-USDT ERC20 Token upon entering fx-evm. This is possible for other tokens apart from USDT.
    • The pros is that same token on different chains can be merge into same token on f(x)Core without creating confusing version (NO fxusdt-polygon, fxusdt-bsc, fxusdt-eth etc etc). The added responsibility is that the validators will have to make sure withdrawal from f(x)Core back to different chains is well supported.

  • Any addition of new tokens to this Gravity Cross-Chain Bridge feature logic would have to go through governance. Which means that after many-to-one feature is introduced, governance proposal is still needed to introduce new tokens into f(x)Core, which is safer. Therefore right after this upgrade we will perform a governance proposal to introduce new tokens into f(x)Core.

    • The proposal would need to be launched under the proposal type “RegisterCoinProposal”

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image: illustration of what will be achieved post-uprgrade, using USDT as example.

Tentative timeline we are proposing

Testnet

  • Code release time: 6pm (GMT+8) on Friday, 22 July 2022
  • Upgrade height time: Tentatively set at 12pm (GMT+8) on Monday, 25 July 2022
  • Initiation of many-to-one cross-chain proposal to add USDT: 2pm (GMT+8) on Monday, 25 July 2022
  • 2pm (GMT+8) on Monday, 25 July 2022 (Testnet proposal voting period to be changed to 2hrs)

Mainnet

  • Code release time: 11am (GMT+8) Wednesday, 27 July 2022
  • Upgrade height time: Tentatively set at 12pm (GMT+8) on Monday, 1 August 2022
  • Initiation of many-to-one cross-chain proposal to add USDT: 2pm (GMT+8) on Monday, 1 August 2022
  • Proposal ends: 2pm (GMT+8) on Monday, 15 August 2022

You may refer to the latest news and releases information in f(x)Core v2.2.0 Upgrade Info or the official FunctionX Github.

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