Team should better think about using the funds for better marketing than for bonuses. So far there’s minimal to 0 traction with both projects
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Keeping price of the tokens aside, because one could argue it will improve in the next bull. Just look at how much we have dropped in crypto market cap ranking. & that too while FX circulating supply is increasing (helps to bring up the total market cap especially since most holders including team is not selling). Crypto market cap rank is a good gage for popularity among crypto projects regardless if we are in bull/bear market
This shows project is dropping in popularity, even with major releases recently. Drop in twitter followers for FX & Telegram channel support this narrative as well.
Note Rank is marketcap size to supply nothing to do with popularity, everyone please don’t let your emotions run away the topic here is not about price or popularity never the less we all know what the market position & value is, with the mass increase of wallet addresses of FXwallet say to me we are up for a good ride once the market fears are resolved this is not an individual problem of FX. any massive promotion is likly to have zero affect to an overall market no one is buying in yet
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Blunt question, why aren’t these new addresses joining our telegram channels or following us on twitter ?
First step of fixing a problem is to admit we have one.
i delegate and will use the Farm … because of the rewards i feel less pain in this bear market i still see addresses coming up , and now waiting for the bull
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everyone gathers their information from their own sources if the wallet addresses are increasing people are finding us, just because it can’t be measured in social media do not mean it’s not happening, again we are off topic
I support both point of views.
However, I’m worried by some things.
1st: transactions over MarginX and FxCore
Many transactions over MarginX look like GoingShort ==> Cancel, GoingLong ==> Cancel.
10k transactions cost only 3$ : that looks automated to me. What’s worrying me is the API (and network nodes) are only accessible to MarginX team right now. I would appreciate if @orbitant could give us some info about what’s really happening in there.
Just as an example : this address 0xA0c8FDD6BE93561984AC43850c5A71e10DA1d8e9 currently counts 954k transactions !! This same address count a minimal number of transactions over FxCore.
Maybe that a detailed report from the MarginX team on how funds are being used could be of big help.
2nd: Surge of Fx addresses
Beside the fact that people could “play” over MarginX and FunctionX without being present over social networks, a large majority of those addresses currently own small to none $FX.
In order to gain trust (over operations, not over the quality of MarginX product which is great), more transparency would be helpful.
3rd and major one: decentralization
We’re reading everywhere that FxCore and MarginX are decentralized, I’d like to insist on the fact that Tendermint consensus (used by FxCore chain, and MarginX and PundiX sidechains) needs 66% of the voting power to be decentralized in order for the chains to be considered DECENTRALIZED.
This is currently absolutely not the case.
I still see no plans on how teams intend to solve that issue that represents to me a HUGE issue.
Again, please de not see such comments as a mark of distrust, but nowadays, trust is almost everything. It’s hard to gain and very easy to loose.
FunctionX has the potential to be the greatest chain ever, but if public communication (and decentralization) does not improve beside “promotion only”, the overall ecosystem won’t benefit from it.
Eventually, I’m also thinking that keeping the pace over current Defi apps (NFT, DEX) is great, but we need more real-life apps (diplomas certification, trademark products traceability, identity validation, etc.) : otherwise, we’ll miss the next opportunity of being connected to real people…
Thanks,
FrenchXCore
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→ This is a typical market making related transactions, the strategy and price has to move with the market. I believe the strategies are running on script
→ this is not true at all, any interested market maker / trader can always pm MarginX team, the team is more than happy to share the api document as the creator of the platform
→ this is the wallet address of the external market maker.
The usage of the EGF fund (for 100 days incentive program) can be found MarginX
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Do you have any plans to promote margin x
Hi @Danny !
Thanks for your detailed answer.
Why isn’t the API public ? Is there any specific reason why it would be only upon request ?
Are there many external market-makers ?
Can you also give us (when you’ll have some time) some perspective upon the decentralization aspects of MarginX ? (i.e. how and when you intend external public nodes to participate in over 66% of the consensus).
Thanks,
FrenchXCore
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Hi @FrenchXCore,
Thank you for the pressing questions 
No clear regulation for CEX, let alone DEX. So we prefer to tread cautiously, instead of releasing API to public.
Unlike most exchange, MarginX is not issuing tokens, nor taking development fund from public/VCs or this community; this is essence for us to have a peace of mind to shape MarginX in serving real users (instead of moon-boys & sharks for most trading platform in market).
Unlike CEX or even dYdX/GMX, by choosing Function X allows every single transaction (real-time) on blockchain is the first step to transparency/trust; we hold no token from any user.
MarginX is still in its infant stage (soft launch); so we are under no urgency to rush out public nodes at this moment.
“Do not go where the path may lead, go instead where there is no path and leave a trail”
Cheers!
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Thanks a lot @orbitant !
This CLEARLY answers all my questions : thanks again for your involvement. I really appreciate any potential misunderstanding is now excluded. Sorry if those questions felt like they were “pressing”, but they were indeed legitimate… I know that MarginX is “young” but I prefer to “kill any issue in the egg” as we say here.
What I understand from it is:
- API is not public for legal reason : publishing it might expose MarginX unnecessarily. I understand and respect that decision.
- There are AMM scripts running, based upon an API that might be made available upon private request.
- Even though MarginX nodes/validators are only yours (like a “private network”) for now, it is impossible for anyone but the owner to access funds. So, no rugpull would be possible (since it’s based on non-custodian transactions).
- However, if the network was to “fall”, users’ funds might become frozen for as long as the network wouldn’t recover. That’s a risk to be considered in the future… (I’m a bit paranoid about this, but I’d be more relieved to know that a network is running over 1k+ nodes than just a few… and I feel the same about FxCore as well…)
- As for user addresses, I’m assuming someone does just take advantage of the API to create lots of accounts… beside a probable huge success as well.
Considering this, I would strongly advise to add or review current statistics (@lancelai , @Richard, @zaccheah ?) to offer some median-based statistics which would reflect better the health of the ecosystem.
It’d be nice to see additional statistics excluding outlier accounts: for example…
- accounts which stands within 20-80% of the median number of transactions per account,
- accounts which holds within 20-80% of the median amount of FX hold,
- median amount of FX hold per account
Thanks everyone !
Regards,
FrenchXCore
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Understand. For this instance, we could potentially allow institutions/market makers to host several nodes as well.
Cheers!
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Great comments! As always) Nothing to add! I fully support!
Thanks for the feedback! Thanks for 2022. For the great work that has been done! Thank You all! Good luck in the new year! I wish you all the best wishes! Happy New Year! see you in 2023!
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good job everyone Happy new year
Happy new year everyone
Hi, some suggestions and observations;
I understand the team’s point of view that VC’s or, any other injections, in the long run will, or can lead to a dump of the coin.
However, VC’s or aggressive marketing imo can initially bring;
- greater volume
- more holders / fx wallet users
- price increase
- some spreading over to other px/purse/margin X automatically
- more awareness & hype
- Show technical prowesses
- trendy-like to have backing from VC’s as top inspiring projects.
- Can result to further Marketing pushes with VC’s…
- anyways this gives new investors and known OG’s some confidences to invest or research into it. VC’s are like the kyc approved green tick for yes let’s dive a bit further and if liked, yes I will invest my money. That’s the mindset most work with and are used to it. Regardless of the new sbf trust issues, people forget/reset back quick to their old conformities…
Also this technical mental judo needed of the impact VC’s may or maybe not have, if such dumping is not easily understood by most holders or 100% certain. Most OGs know and ride the hype, or the promising team/tech but enjoy the benefits of all the above point list.
This can draw in more whales, that help it give it that extra push, that this projects soo deserves.
Exchanges ideally by then like to be swift with upgrading network on their exchange/s and without lengthy waiting periods.
Also these trending theme of VC’s backing projects, the drawbacks are;
- dumping of the coins
- reducing the price abit, not the value of the project however
- and that’s it (plz add more anyone). Because we currently, and previously have had the same impact of the market being dumped or just simply went down with the BTC bear periods, even though we didn’t have the VC’s doing it.
My point is, it makes no differences to that as we’ve seen with fx and actually pundix, if anything more worse. More worse because If we had VC’s or aggressive marketing (and that marketing worked out as planned) the price will or would have hit much higher, more liquidity, trades, more awarenesses drawn through it, more wallets holders etc etc and finally but not least, more devs appearing or applying for EGF funds. Subsequently & retrospectively, at the end of this scenario of the dumping of the coin, could be where it is at right now or much higher at new lows.
Of course it went up high during bull season because the team and products are awesome which would be the greatest reveal to them, but this imo was not noticed by the wider market, because it can be reflected on twitter, egf applied, swift exchange implementations, holders, etc.
As it stands, we haven’t had much developers applying for EGF to launch various DApps on fx. Because we are not known or competing at the moment. We need to draw more attentions.
More attentions attracted, draws more devs, more devs gets the attention of more users, etc etc something like this. It’s a nice healthy cycle and I think we need to feel this in 2023.
I think on-boarding VC’s has more pros than cons, either way, the team have proved it past few yrs they can do without it, but the question remain is, doesn’t it deserves much more, we can all agree here, yes sir it does, and should have happened by now. The risks are lower with VC’s and impact seems minimal. Maybe explore this traditional theme of VC’s. That seems to be the differences between the top recognised projects and us.
Putting it another way, would you say no to Binance VC… Or Ingenico…
It’s brain draining to see folks fomoing in on many new nonsense projects without depth or much innovation, short term and some exchanges listing them for popularity only. Devs are scarce and we are losing them to other useless projects…
I am still gutted we didn’t get daoverse proposal. Looking back now I am sure some will see it as a missed opportunity… Anyways. Happy new years Starscan community.
I am hoping El Salvador ties fall into place with the web3 XPOS. We’re just missing that X factor atm.
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«More attentions attracted, draws more devs, more devs gets the attention of more users, etc etc something like this» 
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Yeah it would be a shame if the next cycle (starting in april/may) would be without using opportunity.
Fx IS a state of the Art blockchain which is actually stronger than any cardano or solana has been, just without ever utilizing it’s strengt to get Momentum.
It’s like Losing a game changing invention just to the fact that we have Zero Exposition.
Or does anybody remember Heinrich göbel for inventing the Electric Light (1854)? And even Wilson Swan Was faster (1860) but true is that Thomas Edison (1880) was so much later but got all the cake because He had a network and marketing.
I just say, You build something great here @zaccheah @DavidK and all others in your teams.
Dont let others take away your cake.
The time is now. We just have about a few month left before next cycle launches.
Greetz
Patrick
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