Fuel (FUEL)

L2 optimistic rollup

Basics

• Based in:
• Started in / Announced on:
• Testnet release: V2 testnet on 9-9-2022
• Mainnet release: V1 December 2020

Audits & Exploits

• Bug bounty program can be found [insert here].

Governance

Admin Keys

• Risks are well outlined on L2beat (4-8-2022).

Technology

• Whitepaper or docs can be found here.
• Code can be viewed here.

Implementations

• Built on: Ethereum
• Programming language used: Sway (22-7-2022)

Transaction Details

• Capacity (TPS):
• Latency:

How it works

• From Bankless (22-7-2022):

"Fuel is unique in that it uses its own custom virtual machine —  the Fuel VM — with smart contracts written in Sway. This means that unlike most L2s, Fuel is not EVM-compatible. Fuel also differentiates itself through the use of a UTXO model — the same as Bitcoin — instead of the traditional accounts based model utilized by Ethereum and L2s. These unique design choices have allowed Fuel to be highly performant, as the network is capable of validating multiple transactions in parallel, rather than serially (one at a time)."

Fees

• From Bankless (22-7-2022):

"Transactors can pay gas fees in any token — rather than just ETH. Though like any L2, the network must still purchase Ethereum blockspace to verify proofs."

Interoperability

• From Bankless (22-7-2022):

"Rather than a 7-day withdrawal time like traditional optimistic rollups, users on Fuel can bridge back to Ethereum mainnet in minutes using atomic swaps."

Their Other Projects

• From Bankless (22-7-2022):

"The Fuel Labs team recently launched SwaySwap, a decentralized exchange, on devnet. Uniquely, assets on SwaySwap are entirely native to Fuel, meaning they inherit the same functionality as native assets like ETH on Ethereum."

Roadmap

• Can be found [Insert link here].

Competition

• From Bankless (22-7-2022):

"Fuel is unique in that it uses its own custom virtual machine —  the Fuel VM — with smart contracts written in Sway. This means that unlike most L2s, Fuel is not EVM-compatible, a factor that may hinder its adoption. Fuel also differentiates itself through the use of a UTXO model — the same as Bitcoin — instead of the traditional accounts based model utilized by Ethereum and L2s. These unique design choices have allowed Fuel to be highly performant, as the network is capable of validating multiple transactions in parallel, rather than serially (one at a time).

Fuel also boasts improved user experience relative to other L2s. Rather than a 7-day withdrawal time like traditional optimistic rollups, users on Fuel can bridge back to Ethereum mainnet in minutes using atomic swaps. Furthemore, transactors can pay gas fees in any token — rather than just ETH. Though like any L2, the network must still purchase Ethereum blockspace to verify proofs. While their lack of EVM-compatibility may set it on a slower growth trajectory, Fuel’s functionality and throughput relative to other ORUs should help it attract developers and expand usage over the long-run."

Team, Funding and Partners

Team

• Full team can be found [here].

(:

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