Hi,
Just want to double confirm regarding to the special fund, correct me if i am wrong.
Do you mean we unlock a special fund for MM purpose(from EGF, and hold by Foundation), and once there is a new listing, Foundation will unlock it for MM automatically?
Hi Indra !
This is exactly what I mean.
One global allocation could be for listing on CEX, and the other to provide MM liquidity on those CEX, all funded from the EGF FX address.
A proposal could be voted in that direction, allowing for a big amount of FX to be delivered on specified FX addresses that all community members could monitor for transparency. And each time a need emerges, a simple notice in this forum would be sufficient.
Thanks !
Yes, personally I think it is a great idea.
And each time a need emerges, a simple notice in this forum would be sufficient.
This allocation will be very helpful to simply to process and provide fund for the MM faster.
I think we can open a new discussion thread for this one.
Thank you, we look forward to the 10th April report, this will help the community to decide a second allocation for huobi.
Some of us follow you @benyorke.eth on Twitter, I think Kronos and Function X deserves to be mentioned more on tweets too.
Good point - I usually don’t post about Kronos because it doesn’t need a lot of publicity, but could be more vocal about communities like FX that we are a part of.
@FrenchXCore we should look at the April report first and ask questions before allocation a bigger amount, as a good citizen of fx that’s to our best of interest to do so.
I agree, but I trust them with what they’re doing. Especially since the FX are supposed to be coming from the EGF which is team’s funding, not community’s, I believe the team should have the last word.
I would look more into it if the $FX were coming from the Community Pool Spend.
Completely agree with @FrenchXCore .
I mean consider the scenerio we are facing now. Lets take Houbi Global listing; having a good market maker or even multiple market makers providing liquidity does increase the confidence in trading and positively affects the volume on any given day.
Now, to get the loan they would have to wait for April 10 report and 1 week for discussions. After which, the proposal would take another 14 days for voting period. Another, 7+ days on Kronos’s side (including transfer). So, to feel the effect of listing on a big exchange, we are looking at approximately 41 days. The momentum would likely be lost by then.
The foundation, on the other hand, has experts in the field of finance and trading who could look into it more deeply and take strategic decisions that ultimately benefits the investors and the community.
I have seen a lot of community members asking for Binance listing. One of the key requirements is volume, e.g. SHIB and APE. To get the volume and not lose momentum, we need quick decision-making and who better to take the decisions than the team themselves.
Hi again !
I have some questions for the team though.
The FXCORE contract shows that the recipient address fx1e2xjrsa0peksu66dhn5kvma7y8hdyz4zsjlxgn was funded with the 6.8M $FX after the proposal succeeded.
It was funded using the Community Spend Pool (a.k.a CSP) (which is funded through a 40% fee withdrawn from all block rewards shared amongst all validators) (refer to here for more details).
1. Origin of the funds
Since the proposal was supposed to be funded from the Ecosystem Genesis Fund, I would expect the team to re-transfer $FX from the EGF to the CSP, but I can’t find any trace of it. I would expect to see a donation from one of the EGF address to the community pool, for example thru the following command:
fxcored tx distribution fund-community-pool 6800000000000000000000000FX --from [KEY]
Was that eventually done ? It’s just a matter of transparency.
2. Distribution of the funds
We are expecting the team to distribute and verify the 6.8M $FX funding towards Kronos.
Right now, the same address fx1e2xjrsa0peksu66dhn5kvma7y8hdyz4zsjlxgn shows that only 2M $FX out of the 6.8M $FX funding were distributed to Kronos. Since the team is controlling the funds’ distribution to Kronos, I would expect the team to describe how the distribution is being operated. It’s just a matter of transparency, here again.
Anyway, I hope we can progress further on discussing details in this forum and learn altogether the power of blockchain, and of this blockchain specifically.
Regards,
@FrenchXCore
Hey @FrenchXCore - In response to the second part, just want to confirm these unused funds are to be used on Bithumb and Upbit, which is still in the process of completing the account setup. Those funds are in a Kronos wallet, which was left on mainnet to be transparent, rather than bridging and shifting to a CeFi platform.
Update: Remaining FX have been bridged, now making on Coinbase, KuCoin, and Huobi. 800k are still in the ERC-20 wallet to be used on either Upbit or Bithumb, with a remaining 800k still needed to complete both. Still evaluating ways to streamline this so that we can respond quickly to new listings on major exchanges, without having to go through the entire process each time.
i dont understand.
What means that?
I was very excited when Kronos came to us, but my excitement has been dampened a little.
I want to ask Kronos team to
Thank you and I wish @DavidK @zaccheah @Danny can also share if there are further insights
Be patient. It’s only starting…
FX Market Maker Report
March 12-31, 2022
Our strategies are currently deployed on Coinbase, Kucoin, and Huobi. Below is the data report showing the matrix of trading volume and market share for the period of March 12th to March 31st.
Within this period, we traded a total of $5.6m with 27.61% market share on Coinbase. Followed by $1.4m with 15.86% market share on Kucoin and $945,277 with 22.15% on Huobi. The market volumes in March have reached 283% growth rate on Coinbase and 201% on Kucoin. Due to a late onboarding time on Huobi this time, we will share the market growth rate in the next report.
Wow good report
If only there is Market-Maker As A Service…
Like community pool their own money and you guys trade for us, you guys get a profit cut and we keep the rest of the profit.
Been seeing such protocols coming up recently in DeFi, like FaaS and more. Not the AMM liquidity mining.
Maybe in the near future, it would really be interesting for the professionals to offer this additional service 
Good start benyorke
Make it better. Hope soon $Fx in @Binance
