Function X is a proof of stake cross chain coin developed by Pundi X Labs. On July 6th Function X launched its main net. Following main net Function X started staking or delegation where holders can delegate their coins to validators. By delegating to validators and participating in block creation, delegators are awarded with FX coins. Currently you can stake Function X coins and earn up to 31% APY.
How to Stake Function X?
Download F(x) wallet by Pundi X Labs for both iOS and Android versions or from App Store or Google Play for function x staking. Don’t forget to backup your recovery seed phrase once you have created a new account. If you loose the seed phrase you will loose access to your funds. Note: To un-stake your coins it will take 21 days. If you don’t have any FX coins buy from Kucoin or read this article How to Buy Function X (FX) Coin.
Step by step guide
- Select Add Asset on the Main Page
2. Add Function X asset on FX Core to your wallet.
3. Send Function X to erc-20 address in the wallet from exchange or any wallet. Now you have to swap erc-20 FX coins to FX core (frc-20) mainnet coins. To do this you have to do a cross-chain transaction between the Ethereum blockchain and Function X Network.
4. Select the ERC-20 address of FX
5. Now Enter the amount of Function X you want to transfer
6. Enter the FX Core address with prefix fx.
7. Click Confirm
8. Now wait for cross chain transaction to complete in next screen
After the coins have arrived in FX core address, you can delegate the coins to validator under Crypto bank section.
Now select the validators from the validator list. Click on a validator.
Select your FX core address
Enter the amount you want to delegate. Make sure you leave atleast 5 FX for transaction fees. Click Next
Now confirm the transaction
Once the transaction is completed you can see the delegated coins