Blockchain
Function X launched EVM Chain to scale its DeFi ecosystem
The Function X blockchain project is proud to celebrate its latest milestone: the launch of the EVM compatible chain (FXEVM) on the Function X Mainnet and completed its upgrade at block height 5,713,000.
This upgrade allows developers to migrate their decentralized apps (dApps) to Function X instantly and provides the infrastructure to make sure the dApps run smoothly, with low fees and on a secured network. Function X is one of the first projects to integrate an EVM compatible chain on a chain based on the Cosmos network.
The EVM compatible chain is crucial to Function X’s goal of becoming a decentralized finance (DeFi) blockchain platform that strengthens the DeFi ecosystem and encourage developers to use Function X to contribute to the advancement of DeFi and blockchain technology.
More new use-cases will be built on the ecosystem. For example, the FXEVM launch follows the successful deployment of a retail payment solution (Pundi X Chain) and perpetual derivatives trading platform (MarginX). Function X also allows developers to customize the chain based on their needs using the Subnet solution while inheriting Function X’s speed and security.
After the FXEVM upgrade, users can bridge their $FX and other tokens (such as FX, PUNDIX, PURSE, USDT, and more) from Ethereum to FXEVM using FX Bridge. f(x)Swap will be one of the first dApps available on FXEVM. It’s a decentralized exchange that users can swap different cryptocurrency via MetaMask or any other decentralized wallet supporting WalletConnect e.g f(x)Wallet.
Apart from swapping, there will also be Liquidity Pools, where anyone can become a liquidity provider for a pool and earn rewards in the form of trading fees when users trade in those pools.
Deploying dApps to Function X EVM
Function X invites all developers to come and build on the FXEVM. The dApps the developers w’ll be able to build include not only DEXes but also liquidity protocols, yield aggregators, NFT Marketplaces, and many more. To top it off, the Foundation is allocating $20 million from its Ecosystem Genesis Fund to attract developers and nurture the development of the Function X ecosystem.
The Ecosystem Genesis Fund is transparent and accessible to all developers through governance proposals. This fund is allocated to encourage and help to accelerate the development of Function X and FXEVM.
With the recent FXEVM upgrade and new investments into the Ecosystem Genesis Fund, the Function X network is set for impressive growth and exciting times ahead.
Watch FXEVM at https://youtu.be/F2VHnHd2-bs
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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