Thankyou for that question! I have wanted to ask the same thing but didn’t know hoe to articulate it.
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Thank you for addressing this in such a respectful way. I sincerely hope that the community gets a satisfying reply on this topic before the end of the month. Getting some clairity on this subject can hopefully calm things a bit down so we can start to focus on the longer road ahead.
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Hi team, latest updates
After discussing with the team, especially @DavidK we agreed to set 27th June 23:59 Sunday as the final date. If upon that date not enough whales (person with >100,000 fx and more) come forward, the foundation will fill up the remaining to reach >75M $fx tokens in fx pool, and launch Mainnet seven days after. Reason foundation decided on this because we don’t want to see >90% target go to waste.
Before 23:59 Sunday, whales can still transfer in as some did over the past few days. If you have > 100,000 fx you can do a transfer to the contract (0x8fb0FCbE3B8F3183E192B1071EE4AB3ab9588332) and we will transfer back 110% (principal + 10%) once Mainnet goes live. The dateline to do this is Sunday.
Hence Sunday is the hard cut off date and once we fill it up, Mainnet will go live in seven days! Team will make an official post about this in the next few hours, and you’ve heard it here first 
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Perfect, Thank you 
That would main going live on the 5th of July correct?
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Pushed the message on Reddit and Twitter. Maybe you could put on Twitter too bc that will reach a lot more ppl.
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already spreading that news there 
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We’re going to publish on Medium first. More formal. Then you can Tweet that article. Just giving Forum members a sneak peek.
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Great news, best decision, considering the situation and the fact we did come so close. Thanks Team!!!
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thanks zac 
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that’s good news Zac, we need the mainnet so you can continue with all the greatness of Pundix, F(x) etc. This is the way!
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That’s even better🙂
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This is why i love the forum so much 
Great info, great discussions, great ideas.
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If anyone can make a short video:
- starting with the launch of the mainnet.
- and a little explanation why this is important (facts)
- and close with Fx / Pundix → pundi
So we can all post this on different platforms… twitter / FB / reddit / Telegram / …
But it has to look slick and easy to understand for everyone.
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Will do , looking forward to the details
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Pretty nice incentive to get whales to become active in the community, which I hope will carry over to FX Core mainnet participation. Thank you Zac, David, and the whole team
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Hi , if we have >100.000 fx in stake now, will you give + %10 ?
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Thanks alot for the update.
I think however, given the transpired events with mainnet launch staking, we should be rethinking our strategy of ‘decentralization’. I think some good questions we should be reflecting on should be:
-
In our current state, are we actually decentralized? (an argument can be made that if one or two whales can disrupt the launch like this; we are not decentralized)
b) if (as above) we are not decentralized, i would feel much more comfortable with the team being FULLY in charge as long as there is good governance and accountability and the token supply is held INDEFINITE. -
perhaps we can move to full decentralization down the road when the concentrations of the tokens are not so heavily concentrated on a couple of wallets.
It is my personal philosophy that a true ‘decentralization’ can never occur. even bitcoin can never be fully decentralized in terms of governance. As with any currency or asset, there will be larger stakeholders and smaller stakeholders. we cannot treat them both with the same amount of trust and responsibility.
In the current state we are in, I believe that the team should be able to decide all decisions. this staking event has shown us that: those with large ‘financial stake’ may not always be working in the favour of the ecosystem as a whole.
And lets not kid ourselves. we believe in the project. yes. we invest. yes. BUT we are here for a profit. the only people who REALLY have a ‘stake’ is the team members. they put their time, life, REPUTATION on the line for this project. I believe the control should be in THEIR hands and not of someone else. especially in this scenario the whales are totally anonymous.
investors should be happy with increasing asset values. that is what we get in return for this exchange and the risk we take on with investing. control should remain in the hands of those who are IN the game.
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I am going to buy more Fx and send to contract.
Lets help to mainnet.
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Perfectly stated! Token centralization like we have now in the hands of a small number of large wallets is absolutely a concern for total network security.
This first pre-governance test was absolutely that, a test. The strategy of the team should absolutely account for the participation of potential adversaries just to be well prepared for the health of the project long term.
There is one part that is incorrect though,
Blockquote
The FX token generation event required NPXS to be swapped into FX on Xwallet. These large accounts have been in existence and have not moved to my knowledge since then. The company has the KYC info for these customers. It was required to KYC to swap. I do not know about the ethics of directly keeping tabs on customers to understand their intention, but the traceability should be there for these significant stake holders.
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ahhh… gotcha. ok but like you said… ‘ethics’.
problem with this is, its not a crime. nobody got murdered, nobody is laundering money, this guy just neglected to participate and stake. there’s no reason to start looking up KYC info for something like this…
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