View source for Fuse Network (FUSE)

Fuse is a standalone [[blockchain]] toolbox for projects to work on top of. [[Ethereum Virtual Machine (EVM)|EVM]] compatible.

== Basics ==
* Based in: core team in Israel
*Founded in: [https://medium.com/fusenet/announcing-the-fuse-network-431bfc59d277 28-8-2019]
* [[Mainnet]] release:
* According to its own [https://medium.com/fusenet/use-cases-of-the-fuse-network-195399c72dc7 blog] people can build the following with Fuse (18-9-2020):
# ''Payment services''
# ''[[Stablecoin]] based economies''
# ''Loyalty systems''
# ''Shared ownership communities''
# ''[[DeFi]] integration''

* Not to be confused with the Fuse Protocol created by [[Rari Capital (RFT)|Rari Capital]].

== History ==
Planning to [https://news.fuse.io/fuse-network-q4-2023-update-web3-payments-take-centre-stage/?_hsmi=78077951#h-fuse-network-moving-from-l1-to-l2 move] towards a [[zkEVM]] [[Layer Two|L2]] (11-2023).

== Audits ==
*[[Bug bounty]] program can be found [https://medium.com/fusenet/bug-bounty-program-launched-offering-up-to-25-000-for-critical-vulnerabilities-in-collaboration-fdbb3d0c5ec5 here] up to $25.000 (24-2-2021).
* Had an [https://github.com/fuseio/fuse-network/blob/master/audits/zokyo.pdf audit] [https://medium.com/fusenet/fuse-smart-contract-audit-completed-by-top-blockchain-firm-zokyo-5ee687f309a2 done] on its [[Smart Contract]] by [[Zokyo]] (24-11-2020):
''"The audit concluded that our code passes Zokyo’s security requirements. It also confirms that there are no issues that can have an impact on [[contract]] security, and that the contract is well-written and is production ready."''

== Governance ==

* From their [https://medium.com/fusenet/fuses-2021-road-map-4390392c14e4 blog] (21-1-2021):

''"In addition to the [[validator]] [[governance]] system which dictates how the network functions including [[consensus]] and infrastructure, we plan to implement [[token]] holder-based voting to further widen decision-making on aspects like token allocation, grants, and product development. UI’s will be implemented for both of these, with validator consensus already being voted on but without a user-friendly interface for the moment."''

=== DAO ===
=== Treasury ===
== Token ==
=== Launch ===
=== Token allocation ===

* From their [https://medium.com/fusenet/fuse-token-distribution-9d82ddb0cc98 blog] (14-10-2020):

"''25 Million FUSE (8.3%): ETOP (Employee Token Ownership Plan) Pool''

*''These [[tokens]] are locked and [[staked]] for 4 years. During this period, [[staking]] rewards only will be paid out.''

''40 Million FUSE (13.3%): Early Team, Advisors & [[Validators]]''

*''Eary supporters, team members, and advisors that have been involved with the project since its inception in late 2019.''
*''These tokens are subject to a 1 year vesting period.''

''40 Million FUSE (13.3%): Private Allocation + Public [[Liquidity]] Release [[Mesa]] DEX''

*''Private tokens were exchanged at $0.06.''
*''A private token vesting period has been implemented in which 25% of tokens are unlocked every month for 4 months.''
*''As explained in a previous post, the Public Liquidity Release will take place on 22nd October. For a step-by-step guide on how to take part see here.''

''65 Million FUSE (21.7%): Dev Locked Fund (4 Years)''

*''These tokens are locked and will not be released for 4 years.''

''130 Million FUSE (43.3%): Bootstrap Pool''

*''These tokens are released over a period of 4 years and used to reward various different activities.''
*''Fuse Studio: Tokens rewarded to operators that successfully deploy and generate considerable [[transaction]] volume on the network. This is designed to incentivize network use.''
*''[[Airdrops]]: Tokens rewarded to community members for engagement with the network through bounty campaigns, governance participation, product testing, and solving [[Github]] issues. This is designed to incentivize community involvement and development.''
*''[[StableCoin|Stablecoin]] liquidity providers’ rewards. More on this soon as we announce some big [[Defi|DeFi]] products that are in the pipeline!''

''5% yearly inflation in the network is [[distributed]] to the network validators."''

=== Utility ===

* From the [https://docs.fuse.io/the-fuse-chain/fuse-token docs] (4-2021):

''"Fuse token is required to be paid to the network to approve [[Transaction (Tx)|transactions]]. The Fuse network is using the token to create circulation between users that look to validate [[transactions]] on the network and validators who invest computing resources and maintain it. Every [[block]] created on the Fuse chain is creating new Fuse tokens rewarded to the validators.''

#''Validation: Token holders can [[Proof-of-Stake (PoS)|stake]] Fuse to become a [[Node|validator]]. The minimal staking requirement is 100K. The network is growing, currently there are 50+ validators. (<nowiki>https://health.fuse.io/</nowiki>)''
#''Voting: Validators vote on protocol changes with their staked Fuse. Which means validators with higher amounts of Fuse staked can have a bigger vote on network upgrades and governance changes (until phase 2 where delegation is activated)''
#''[[Fees]]: The Fuse token is the [[native currency]] on the Fuse blockchain and is required to pay fees to the network in order to approve transactions.''
#''Delegation - Activated Q3 2020: Delegation for token holders will be activated. This will allow any Fuse token holder to delegate their tokens to a validator to [[earn]] rewards. Validators compete between themselves to receive Fuse delegated from token holders. Validators with the most Fuse tokens are elected to validate on Fuse."''

=== Token Details ===
=== Stablecoin ===

* From the Fuse [https://medium.com/fusenet/voltage-finance-so-far-significant-post-launch-progress-and-upcoming-platform-upgrades-74f8890c4df9 blog] (8-9-2022):
''"At present, fUSD is backed by the [[US Dollar Coin (USDC)|USDC]] token issued by Circle. To mitigate the risks arising from the exposure to a single stablecoin issuer,, upgrading to fUSD v2 will allow the community to choose a basket of non-algorithmic stablecoins by which fUSD will be backed. Doing this will significantly decrease friction and price impact on trades, especially larger ones. Voltage will craft fUSD v2 so holders can earn fees simply by holding the token."''
*FuseDollar was the first in the FuseX suite of [[stablecoins]] [https://medium.com/fusenet/introducing-fusedollar-an-asset-backed-stable-coin-designed-for-first-time-users-dbf143d35e58 to be launched] (19-2-2021).
*From their [https://medium.com/fusenet/fuses-2021-road-map-4390392c14e4 blog] (21-1-2021):

''"Native Fuse Network [[Stablecoins|stable coins]] — FuseDollar, FuseEuro & FusePound."''

== Tech ==

* Docs can be found [https://docs.fuse.io/ here].
* Code can be viewed [https://github.com/fuseio here] (13-8-2020).
* Built on: It's own [[blockchain]]. It has an [[ERC]] [https://www.coingecko.com/en/coins/fuse-network-token version] (11-8-2020). Also [https://bscscan.com/token/0x5857c96dae9cf8511b08cb07f85753c472d36ea3 deployed] on [[Binance|BSC]].
* Programming language used: [[Solidity]]

=== Transaction Details ===

* Capacity ([[TPS]]):
*[[Latency]]: 5 seconds

=== How it works ===

* A version of [[DPoS]].

=== Fee Mechanism ===

* From the [https://docs.fuse.io/the-fuse-chain/fuse-token docs] (4-2021):

#''"The network charges fees on every transaction that goes to the validators and is capped at 1 cent $ per transaction.''
#''While the network has unfilled [[Block|blocks]] the cost per transaction will be lower than 1 cent.''
#''The fee cost per transaction in Fuse will be adjusted to be a maximum of 1 cent US dollar once the [[blocks]] start to fill up. At this stage simple transfer transactions will be moved [[Off Chain|off-chain]]."''

=== Upgrades ===

* A good overview can be read [https://medium.com/fusenet/fuses-2021-road-map-4390392c14e4 here] (26-1-2021).
* over the year 2021 the following developments happened according tot heir year end [https://medium.com/fusenet/fuses-2021-in-review-4a5421555626 blog] (15-1-2022):

# ''"enhanced decentralization of the platform (through the creation of FuseDAO and the partnership with [[Pocket Network (POKT)|Pocket Network]]);''
# ''first [[Centralized Exchanges (CEX)|centralized exchange]] listings (including [[GateToken (GT)|Gate.io]], [[MEXC]] and [[Bittrex]]);''
# ''the growth of usage of the platform and its [[Native Coin|native token]] FUSE;''
# ''the launches of of new major products and tools (including Fuse Cash, Fuse-[[Binance|Binance Smart Chain]] [[bridge]], etc.);''
# ''continued progress of payment-focused ecosystem projects (including [[GoodDollar (G$)|GoodDollar]], [[Peepl]] and [[Kolektivo]]);''
# ''fast expansion of the [[Decentralized Finance (DeFi)|DeFi]] ecosystem;''
# ''the emergence of [[Non Fungible Tokens (NFTs)|NFTs]] on Fuse, and''
# ''an array of major partnerships and integrations with leading players in the crypto/blockchain space."''

=== Staking ===

* Has activated [https://medium.com/fusenet/fuse-activates-delegated-staking-to-put-more-control-in-the-hands-of-token-holders-2fc1ba7157a7 delegation] on their [[DPOS]] (11-11-2020).
*From the [https://docs.fuse.io/the-fuse-chain/fuse-token docs] (4-2021):

''"5% inflation in the network is distributed between the validators. Each cycle (A cycle is all transactions conducted in 48 hours) the validators with the highest amount of Fuse tokens staked will split the rewards based on their [[stake]]."''

==== Validator Stats ====

* Has 38  'active' validators according to [https://explorer.fuse.io/ Fuse Explorer](13-7-2021).

=== Liquidity Mining ===

* From their [https://medium.com/fusenet/fuses-2021-road-map-4390392c14e4 blog] (21-1-2021):

''"More [[liquidity provider]] incentive programs will be launched over the coming weeks."''

=== Scaling ===

* Fuse is [https://medium.com/@fuse-io considering] between [[Arbitrum]] and [[Optimism]] for its L2 (3-5-2022). 
*From this [https://twitter.com/ahboyash/status/1478701759065325569 thread] (5-1-2022): 

''"In the future, Fuse will be implementing ZK [[rollups]] to scale their network which will be known as the Flutter Later 2 Payments (FL2P)."''

*From their [https://medium.com/fusenet/fuses-2021-road-map-4390392c14e4 blog] (21-1-2021):

''"Research has begun in order to look at how solutions like [[Rollups|ZK roll-ups]] could be used. The benefit of [[Layer Two|layer 2]] scaling solutions is that they not only improve throughput but they also provide improved privacy and interoperability with other [[layer 2]] integrations."''

=== Different Implementations ===
=== Interoperability ===

* The Fuse team strongly believes in the future of interoperability and is running a [https://fuseswap.com/#/bridge multichain bridge] currently connecting it to [[Ethereum]] and BSC.
* From its [https://docs.fuse.io/fuse-overview docs] (2020):

"''It's anchored to Ethereum using a bridge which allows any token to freely [[move]] between Ethereum and the Fuse-chain. A Token is minted on Ethereum and then moved to the Fuse-chain, where it gets access to a wide range of features and business plugins that brings it to life."''

* [https://medium.com/fusenet/fuse-deploys-elk-finance-to-boost-cross-chain-interoperability-fefa799a01ab Integrated] with [[Elk Finance (ELK)|Elk Finance]] (13-12-2021) to move FUSE to different chains. A similar [https://medium.com/fusenet/fuse-network-is-now-supported-by-the-chainport-multichain-bridge-834e1977c18d integration] happened with [[ChainPort (PORT)|ChainPort]] (17-12-2021). Got [https://medium.com/fusenet/fuse-integrates-allbridge-to-bring-tokens-like-luna-and-terrausd-to-the-ecosystem-a0703edf9767 added] to [[Allbridge]] (29-1-2022). [[Multichain (ANY)|Multichain]] [https://medium.com/fusenet/leading-interoperability-platform-multichain-now-supports-fuse-network-3385e3e8025a integrated] it as well in their bridge (28-2-2022).

=== Other Details ===
== Oracle Method ==

*Oddin's security oracles will be [https://medium.com/fusenet/fuse-moves-to-boost-security-on-the-platform-through-oddin-integration-826ca1ad363d integrated] (25-8-2022).
*[[DIA (DIA)|DIA]] got [https://medium.com/dia-insights/hello-fuse-dias-oracle-infrastructure-get-integrated-with-fuse-network-f9491aae0d4d integrated] (21-2-2022).
*From their [https://medium.com/fusenet/fuse-will-use-chainlink-proof-of-reserve-to-mint-and-verify-the-collateralization-of-fusedollar-6ff6db948029 blog] (2-3-2021):

''"Our [[Chainlink (LINK)|Chainlink]] Proof of Reserve integration will bring secure, reliable, and efficient minting and auditing of Fuse Network’s collateralized stable [[COIN|coin]] FuseDollar (fUSD), ensuring it is 100% backed by USD [[COIN|Coin]] ([[USDC]]) deposited in a dedicated Ethereum [[smart contract]]''."
*From their [https://medium.com/fusenet/fuses-2021-road-map-4390392c14e4 blog] (21-1-2021):

''"Partnerships and integrations that ensure connectivity and coherence with the rest of the [[DeFi]] ecosystem on [[Ethereum]] and other [[Layer One|layer 1s]] are also a priority. These include price feed [[oracles]] that allow for improved [[AMM]] functionality in FuseSwap, fixed [[transaction fee]] targeting on the network, and proof of reserves for FuseX’s asset-backed [[stable coin]] products.''
== Their Other Projects ==
=== Fuse Studio ===

* From its [https://docs.fuse.io/fuse-overview docs] (2020):

''"The Fuse Studio allows users to easily launch and operate new communities, with a built in [[Smart Contract (SC)|contract]] store that allows the easy launch of new features and integrated services - [[FIAT|fiat]] on-ramps, business management plugins, community management functionality and much more."''

=== FuseSwap ===

* Got incorporated into [[Voltage Finance (VOLT)|Voltage Finance]].
*From their [https://medium.com/fusenet/fuses-2021-road-map-4390392c14e4 blog] (21-1-2021):

''"Fuse’s native [[DEX]]. Protocol change decisions are currently made by the core Fuse team. As trading activity grows on the platform, users and [[liquidity providers]] gain a more significant stake in its success. We are researching various voting models to make governance more inclusive and potentially move to full [[decentralization]]."''
== Roadmap ==

* Can be found [https://medium.com/fusenet/the-fuse-network-and-the-road-ahead-450b38cee64f here] (1-1-2020). [https://medium.com/fusenet/fuses-2021-road-map-4390392c14e4 Update] (26-1-2021).
* From its [https://medium.com/fusenet/fuse-weekly-update-2-1fc286014680 weekly update] (20-9-2020):

"''Mark explains the importance of focusing on the long-tail acquisition of users of the [[open-source]] technology with tangible goals of reaching 1 million USD locked, 1 million transactions per day with 1000 launched micro-economies, and reaching parts of the world with undeveloped financial infrastructure within the next 2–3 years."''

* Is [https://medium.com/fusenet/fuses-2021-road-map-4390392c14e4 looking into] [[Burn Mechanisms|burning]] mechanisms and reducing its [[Block Reward|block reward]] (26-1-2021).
*From the [https://docs.fuse.io/the-fuse-chain/fuse-token docs] (4-2021):

''"A fixed inflation rate also helps with stabilization of the token price. At phase 2 of the network an upgrade to a differential inflation schedule will be proposed and voted on by the validators to optimize the inflation/fee price policy."''
== Usage ==
* Just passed half a million [[tx]] (12-8-2020).
*Done over [https://explorer.fuse.io/ 12.5M] tx (3-7-2021).

=== Projects that use or built on it ===
* [[Beefy Finance (BIFI)|Beefy Finance]]; [https://medium.com/fusenet/fuse-partners-with-beefy-finance-to-improve-defi-yields-for-users-fefd2601acef will be] deployed on Fuse (11-1-2022).
* [[The Digital Rand]] (8-2020)
*[https://gooddollar.org GoodDollar], digital basic income project, is ranked 6th among [[dApps]] by the number of daily users according to [[DApp|Dapp]].com (13-7-2021)
*[[Flambu]]; ''"A [[decentralized]] sharing economy powered by Fuse. It features a mobile app and a two-token model for enhanced [[peer-to-peer]] renting of anything''." ([https://medium.com/fusenet/introducing-flambu-a-sharing-economy-project-powered-by-fuse-7f7661c4224f 7-9-2021])
*[https://www.kolektivo.co Kolektivo]; a project aimed at developing regenerative economies in Curaçao; soft-launched the [https://www.kolektivo.co/curadai CuraDAI] [[StableCoin|stablecoin]] and mobile app
*[[MintGate]]; got [https://medium.com/fusenet/fuse-integrates-mintgate-to-enhance-studio-features-and-bolster-adoption-786ecdd1e0d2 integrated] by Fuse (24-2-2021)
*[[Rupiah Token]]
*[https://comunitaria.com/en/home-english/ Comunitaria] (formerly Wikibank); platform for better targeting [https://medium.com/fusenet/how-wikibank-is-using-fuse-to-deliver-cash-in-times-of-corona-492f8b163107 donations to poor families] (6-7-2020).

== Competition ==
* Interoperable [[blockchains]]. L1s. Payment systems like [[Paypal]].

== Pros and Cons ==
=== Pros ===
=== Cons ===
== Team, Funding, Partners ==
=== Team ===
* Full team can be found [https://fuse.io/about here] (3-7-2021).
* [[Mark Smargon]]; CEO
=== Funding ===

* Is listed as one of the [https://unbound.finance/ backers] of [[Unbound]] (30-1-2021).

=== Partners ===
* Fuse is getting its own dedicated [[node]] via [[GetBlock]] with which it is [https://medium.com/fusenet/announcing-fuse-x-getblock-io-partnership-dfc9dfa7c76 partnered] (19-8-2020).
*Is [https://medium.com/fusenet/fuse-partners-with-orion-protocol-to-utilize-liquidity-boost-plugin-enriching-fuseswap-with-52e1c0943624 partnered] with [[Orion Protocol (ORN)|Orion Protocol]] (10-2021).
*[https://medium.com/fusenet/fuse-integrates-with-pocket-network-to-strengthen-transaction-processing-on-the-platform-8e41334fee6 Partnered] with and will integrate [[Pocket Network (POKT)|Pocket Network]] (25-2-2021). From the Fuse [https://medium.com/fusenet/fuse-and-pocket-network-take-collaboration-to-a-new-level-by-conducting-a-token-swap-40df8054bfe3 blog] (28-9-2021): ''"The Fuse [[Foundation]] will exchange 750,000 FUSE for 250,000 [[POKT]] to broaden access to Pocket’s [[Remote Procedure Call (RPC)|RPC]] call [[relay]] service for the'' ''Fuse ecosystem."''
*Is one of the [https://blog.unmarshal.io/unmarshal-quarterly-review-a-recap-of-q1-2021-events-935adca5c814 announced] partners of [[Unmarshal (MARSH)|Unmarshal]] during their first months (5-4-2021).
*Fuse and [[Kyber Network (KNC)|Krystal]] will [https://medium.com/fusenet/fuse-partners-with-krystal-to-simplify-access-to-defi-b294acea772b work together] (20-4-2021) to enable the integration of Fuse’s native [[decentralized exchange]] ([[Decentralized Exchange (DEX)|DEX]]) FuseSwap into the DEX aggregator on Krystal.
*Had a [https://medium.com/fusenet/fuse-completes-token-swap-with-peepl-5d026c1c003 tokenswap] with Peepl (16-9-2022):
''"According to the terms of the token swap, Fuse will be entitled to 1% of the PPL token supply once the token has been emitted. In exchange, Peepl has received 750,000 FUSE tokens."''

== (:==
Knowledge empowers all and will help us get closer to the [[decentralised|decentralized]] world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to [[keep]] expanding this archive of information.

FUSE tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31
[[Category:Coins/Tokens]]