Dear Pundians,
We have some important ideas to share that can mark a significant milestone in our journey towards enhancing the PUNDI ecosystem and we are eager to hear your opinions. You will hear a lot of PUNDI, PUNDI X and PUNDI FX, so LFG !
Current Blockchain Architecture and Proposal
We are at a pivotal moment in the evolution of Web3 and AI technology. Starting from 2017, our mission has always been to empower blockchain developers and token holders to use crypto in any physical store in the world.
As we all know, Function X is the blockchain infrastructure with the hub-chain (main chain) named f(x)Core, and Pundi X Chain is a Layer 2 solution firmly anchored on f(x)Core. Pundi X Chain as the name implies powers the decentralized data and transmission layer of our successful Pundi X payments operations. After reviewing the current infrastructure, we found that there are inherent technical limitations in the Pundi X Chain and XPOS platform that prevent us from implementing the upgrades we want.
As part of our continuous endeavor to advance the blockchain infrastructure and streamline operations, the technology council would like to propose to merge Pundi X Chain with f(x)Core to become Pundi FX.
Pundi AIFX = merging Function X’s f(x)Core + Function X’s Pundi X Chain
Merging PundiXChain & FunctionX to Pundi AIFX (Pundi AIFX refers to the future of X)
This strategic move aims to combine the strengths of both platforms under a unified blockchain network, Pundi AIFX, enhancing our capabilities and streamlining our operations across the board.
The Pundi X Ecosystem aims to create a comprehensive and AI-empowered, user-centric blockchain infrastructure that supports the global growth of decentralized technologies and payments and retail applications in physical outlets.
By doing so, we envision a future where smart devices and hardware infrastructure revolutionize the physical retail experience, creating a seamless, efficient, and crypto-driven journey for growing tokenized real-world assets through AI technology and decentralized networks.
Post Chain merger, new Pundi AIFX
Major features post merger
- Chain abstraction. This allows developers to deploy once on Pundi AIFX and for the app to run without code change on other EVM and Cosmos compatible chain via omnichain channels. Example, a dev launches a DEX on Pundi AIFX and the DEX will be able to support Base, BSC, Osmosis and more from the get-go.
- AI-focused DApps onto Pundi AIFX such as Dapps that power Pundi X’s AI-powered Enterprise XPOS.
The tokenomics of both tokens will remain unchanged - NO dilution, NO increase in minting.
Check out the table below to see the full list of use cases for both $FX and $PUNDIX tokens with further explanation below.
Utility of AIFX token
AIFX will continue to have the same function as Function X original utility in $FX in Function X’s mandate in our 2018 blog post.
- native gas token for Pundi AIFX
- Governance proposal including EGF/CSP governance proposal voting.
- Note: NO dilution
Utility of PUNDIX token
Pundi X will continue to play the critical role, providing a variety of utilities that enhance user experience and network functionality. These utilities are similar to our original 2017 whitepaper.
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DeFi Flywheel: One prominent utility is the DeFi flywheel effect. Example, users can provide liquidity to decentralized finance (DeFi) platforms such as Uniswap or MarginX, receiving liquidity provider (LP) tokens in return. These LP tokens can then be deposited into vaults on MarginX or Baklava to earn additional yield, including $FX. This process incentivizes liquidity provision and helps users maximize their returns through compounded interest and rewards.
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Loyalty and ERC-404 Ecosystem: The PUNDIX token also serves as a key component in the loyalty program. By staking PUNDIX tokens in the Purse vault, users can earn 404 tokens. This system rewards loyal participants and encourages long-term holding, which contributes to the stability and growth of the ecosystem.
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AI-Driven XPOS (Enterprise XPOS): For enterprise-level XPOS systems, staking PUNDIX tokens unlocks advanced AI functionalities. These features include price discovery, which helps businesses optimize pricing strategies; real-time transaction monitoring, which enhances security and operational efficiency; and AI chatbots, which improve customer service and engagement. This integration of AI with the PUNDIX token staking mechanism brings significant value to businesses by streamlining operations and providing intelligent insights.
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XPOS Transaction Fees: Within the XPOS ecosystem, PUNDIX tokens are used to pay transaction fees. This utility ensures a seamless and cost-effective transaction process for users and merchants. By using PUNDIX tokens as the fee currency, the ecosystem maintains a consistent and integrated payment method, which simplifies the user experience and enhances the adoption of the Pundi AIFX chain.
In summary, the $PUNDIX will continue offering diverse utilities that range from DeFi participation and loyalty rewards to AI-driven enterprise solutions and transaction fee payments. This multifaceted utility drives user engagement, promotes ecosystem growth, and delivers tangible benefits to both individual users and businesses.
- NO dilution.
We Need Your Feedback
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Views on the Merger: What are your thoughts on the merger of Function X to be Pundi FX? Any potential challenges or benefits you foresee?
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The Chain Upgrade: The FXCore and Pundi X Chain merge will result in the upgrade of the chain which is a hard fork, with the new chain called Pundi FX. Shall we take advantage of this merge to do token redenomination (token name and supply change) for FX for better token discovery among the current CEX to increase the token visibility?.
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AI tech in Retail: How do you view the integration of AI with blockchain in crypto payment, RWA tokenization as well as enhancing retail experiences?
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Tokenized RWA utilization for Merchants: What are the real-world assets in the physical retail spaces that will generate profits for merchants, ex gold, diamond, millages, or even bubble tea?
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Innovations and Improvements: Are there specific technologies or improvements you would like to suggest post-merger?
Your insights are invaluable to us. Please share your thoughts, concerns, and suggestions as we aim to shape the future together!
Looking forward to your feedback.
- Agree to rebrand
- Disagree
14 June 2024
This post is co-written together with Function X Foundation’s president David Ben Kay and Pundi X Co-CEO Peko Wan.
Edit on 25th July 2024:
- Pundi FX and Pundi AIFX are/were used interchangebly but we have confirmed to use Pundi AIFX as the official rebranded chain and product from now onwards.
- The new ticker for $FX will be $AIFX.