What Is Fuse
What is Fuse Network?
Fuse Network is a blockchain platform focused on simplifying Web3 payments and making blockchain technology more accessible to businesses and developers. It combines features like Account Abstraction, interoperability, and community engagement to create a user-friendly environment for decentralized applications and financial transactions.
Fuse is not an exclusive club – it's designed to empower anyone with the ambition to build on a decentralized blockchain infrastructure. Whether you're an existing crypto project, a startup, or a blue-chip company, Fuse welcomes you with open arms. This versatility enables the development of a wide range of products, from gaming and social applications to Web3 payment-focused solutions.
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Why Build on Fuse Network?
Web3 Payments: Fuse Network focuses on enabling easy and efficient Web3 payments. It aims to provide businesses and users with a user-friendly and accessible way to make and receive payments using cryptocurrencies and blockchain technology.
Wallet-as-a-Service (WaaS): Proprietary and integrated WaaS solutions enable businesses to offer wallet services to their users without the complexity of building and maintaining their own Web3 wallets, further contributing to the growth of the Fuse Network ecosystem and the adoption of Web3 payments.
Account Abstraction: Fuse Network incorporates a concept known as Account Abstraction. This allows developers and businesses to build applications and smart contracts that interact seamlessly with blockchain networks, simplifying onboarding and participation for non-technical users.
Low-cost transactions: Transaction fees are as low as $0.0001, or more simply - 10,000 transactions for $1. To get the most accurate and up-to-date information on transaction costs on Fuse Network, it's recommended to check the network's official resources, which display the current gas fees in FUSE tokens.
Token Economy: The network has its native utility token, FUSE, which is used for various purposes within the ecosystem, including as a means of payment for transactions and as an incentive for validators and participants.
Interoperability: Fuse Network is compatible with other blockchain networks, including Ethereum, Polygon, Arbitrum, Optimism, and BNB Chain. This interoperability allows users to bridge assets between different blockchain networks, expanding the utility and accessibility of Fuse tokens.
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Whitepaper
Fuse Token
The network’s utility token is the Fuse Token (FUSE) - an ERC-20 token with several utilities within the ecosystem, including:
Payments: As FUSE is the native currency on Fuse Network, sending it does not require interactions with smart contracts. Thus, FUSE transfers are potentially faster and less costly regarding transaction fees.
Transaction fees: Being the native currency on the Fuse Network blockchain, users must pay fees in FUSE to approve transactions.
Validation: Token holders can stake FUSE to become a validator. The minimal staking requirement is 100K FUSE. While the network is continuously growing, there are currently 60+ validators.
Voting: Validators vote on protocol changes with their staked FUSE and with the tokens delegated to them by stakers. This means validators with higher amounts of Fuse staked can have a more significant vote on network upgrades and governance changes.
Staking: FUSE holders can choose one or more validators to delegate and stake their tokens. They receive a share of the Fuse block rewards proportionate to the share of their stake in the total stake, minus the minimum 15% fee paid to the validator(s).
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➡️ The Ultimate Guide to Getting Fuse Tokens
FUSE Tokenomics
The team proposed changes to the tokenomics of the Fuse Network in early 2023 through FRC002. Most importantly, it outlines the importance of transitioning FUSE to a deflationary model, fee burning, and setting a maximum supply for the FUSE tokens.
In August 2024 - these changes are expected to be implemented on the consensus level.
FUSE on Other Blockhains
One way to ensure the growth of Fuse and its prospects is by enabling additional versions (wrappers) of FUSE on other chains.
Wrapped versions of the FUSE token exist on Ethereum (mainnet), Binance Smart Chain, and the Arbitrum One layer-2 optimistic rollup chain for Ethereum, and Optimism. The latter is a wrapper of a wrapper powered by the Ethereum-Arbitrum bridge, and its withdrawals from Arbitrum are subject to the optimistic rollup rules.
You can add these to your Web3 wallet using the below contracts:
| Network | Fuse Contract |
|---|---|
| Ethereum | Etherscan |
| Polygon | Polygonscan |
| BNB Chain | BSCscan |
| Arbitrum One | Arbiscan |
| Optimism | Optimism |
Where to buy Fuse Token?
FUSE is available on several centralized (CEX) and decentralized DEX exchanges.
| CEX | DEX |
|---|---|
| Gate.io | Uniswap V3 FUSE/ETH Ethereum |
| Huobi Global | PancakeSwap V3 (BSC) |
| MEXC Global | VoltageDEX |
| AscendEX | Sushiswap (Ethereum) |
More information about FUSE trading volumes and prices on various exchanges can be found on the FUSE token CoinMarketCap page.
Yield Farming Fuse Token
Currently, the project team occasionally uses the FUSE token to power liquidity rewards (yield farming) programs to boost liquidity on DEXes and participation in the Fuse Lending Network.
The ongoing liquidity rewards programs on DEXes can be discovered here.