Fuse Network Token

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Discover Fuse Network Token's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Fuse Network Token?

The Fuse Network Token (FUSE) is the native cryptocurrency of the Fuse Network, a decentralized, blockchain-powered platform designed to provide scalable and low-cost payment solutions. FUSE is used for transaction fees, staking, and governance within the network, which is compatible with Ethereum and supports various DeFi applications, including lending, NFTs, and stablecoins.

How is Fuse Network Token used?

The Fuse Network Token ($FUSE) is the native token of the Fuse Network, a decentralized EVM-compatible public blockchain. It plays a crucial role in various aspects of the network:

  1. Transaction Fees: $FUSE tokens are used to pay for transaction fees on the network. Each block created on the Fuse Network rewards the block creator and their staking delegators with newly issued $FUSE tokens, ensuring the security of the consensus mechanism.

  2. Staking and Delegated Proof of Stake (DPoS): $FUSE tokens are staked by delegators to support validators, enhancing the network's security and consensus. Validators and delegators earn block rewards in the form of new $FUSE tokens.

  3. Liquidity Mining: $FUSE tokens can be used for liquidity mining rewards, enhancing liquidity and participation in Fuse lending and decentralized exchanges (DEXs).

  1. Governance: $FUSE tokens are used for governance participation, allowing holders to vote on Fuse Improvement Proposals (FIPs) that shape the network's development and future.

  2. Yield Farming: $FUSE tokens can be used for yield farming, generating passive income through various DeFi applications on the Fuse Network.

  3. Peer-to-Peer Transactions: $FUSE tokens enable peer-to-peer transactions without intermediaries, providing a secure and low-cost method for transferring value.

  1. Smart Contracts: $FUSE tokens facilitate the execution of smart contracts, automating agreements without third-party involvement.

Overall, the $FUSE token is essential for the operation, security, and growth of the Fuse Network, supporting a wide range of decentralized applications and use cases.

How do I store Fuse Network Token?

To store Fuse Network Token (FUSE) tokens, you can use several wallet options that support the Fuse blockchain. Here are a few options:

  1. Obvious Wallet: This multi-chain wallet allows you to store FUSE tokens across all supported chains. It provides a single dashboard to view assets across 26 blockchain and exchanges, and you can manage and track your assets with a single seed phrase. Obvious ensures self-custody, meaning you have full control over your private keys and seed phrases.

  2. Trust Wallet: You can add FUSE tokens to your Trust Wallet by following a step-by-step guide. This wallet supports various cryptocurrencies, including FUSE.

  3. Atomic Wallet: This multi-asset wallet supports over 1000 coins and tokens, including FUSE. It is available for both desktop and mobile devices and offers features like private key encryption and 24/7 online support.

These wallets provide secure and user-friendly options for storing and managing your FUSE tokens.

How to buy Fuse Network Token?

To buy Fuse Network Token (FUSE) tokens, you can follow these steps:

  1. Set Up a Wallet: Create a cryptocurrency wallet that supports Fuse tokens, such as MetaMask, Trust Wallet, or MyEtherWallet.

  2. Choose an Exchange: Select a reliable centralized exchange (CEX) where FUSE is listed, like Gate.io, HTX, or Bitazza. Alternatively, you can use a decentralized exchange (DEX) like 1inch, Voltage Finance, or Uniswap.

  3. Fund Your Wallet: If using a CEX, deposit the required cryptocurrency (e.g., ETH) into your wallet. If using a DEX, ensure you have the necessary tokens for trading.

  1. Add Fuse Token: On your wallet, add the Fuse token by entering the contract address, symbol, and decimals. This information can be found on the Fuse Network website.

  2. Connect to the Exchange: Connect your wallet to the chosen exchange, either CEX or DEX.

  3. Swap Tokens: On the exchange, select the trading pair you want (e.g., ETH/FUSE), enter the amount you wish to swap, and confirm the transaction.

  1. Store Your Tokens Securely: After the swap, store your FUSE tokens securely in your wallet, considering additional protection with hardware wallets if needed.

Remember to carefully research and understand the risks involved in cryptocurrency investments before making a purchase.

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History of Fuse Network Token

The Fuse Network Token (FUSE) is the native cryptocurrency of the Fuse Network, a public blockchain designed for low-cost Web3 payments and decentralized finance (DeFi) applications. Here is a brief overview of its history:

Founding and Early Development

Fuse Network was founded in 2019 by Mark Smargon, a pioneer in Israel’s Bitcoin exchange sector. The team, consisting of over 40 members, is predominantly based in Israel. The project aimed to create a vertically integrated decentralized payment platform, focusing on providing low-cost Web3 payments for users and eliminating development challenges.

Funding Rounds

In May 2022, Fuse completed a $5 million funding round with investors including Aleph, Black Edge Capital, Blockchain Founders Fund, Collider Ventures, and Tectona Digital Assets. This funding supported the growth and development of the Fuse ecosystem.

Tokenomics and Distribution

The initial distribution of FUSE tokens was as follows:

  • 43.3% for the BootstrapPool, with a four-year vesting schedule for rewarding operators, conducting airdrops, and supporting liquidity providers.
  • 21.7% for the Future Dev Pool, locked for four years.
  • 13.3% for the Mesa + Private Sale, released over four months.
  • 13.3% for early investors, advisors, and the team.
  • 8.3% for the Employee Token Ownership Plan (ETOP), staked and locked for four years.
Inflation and Circulation

FUSE is an inflationary coin, with a fixed annual inflation rate of 5%. This inflation supports the sustainability and development of the Fuse ecosystem, providing motivation for network validators who contribute to verifying transactions and creating new blocks. New FUSE tokens are issued with every added block, and the available coin supply increases annually.

Current Status

As of June 2024, the Fuse Network blockchain has processed over 135 million transactions, with a readiness rate of 99.99%. The cost per ten thousand transactions on Fuse is only one dollar, demonstrating its remarkably low payment costs. Over 150 projects have been integrated into the Fuse ecosystem, and the network continues to focus on integrating into businesses, helping entrepreneurs launch effective and sustainable products utilizing mobile payments.

Market and Trading

FUSE tokens can be purchased on cryptocurrency exchanges, such as Gate.io, after completing the necessary KYC process. The token is listed on CoinMarketCap, with a market capitalization and trading volume updated in real-time.

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How Fuse Network Token works

The Fuse Network Token (FUSE) is the native cryptocurrency of the Fuse Network, a decentralized finance (DeFi) project designed to connect everyday payments to the blockchain. Here's how it works:

Token Overview
  • Supply: There are 300,000,000 FUSE tokens in circulation.
  • ERC-20 Token: FUSE is an ERC-20 token, which means it is built on the Ethereum blockchain and follows the Ethereum token standard.
Utilities of FUSE Token
  • Validation: Users must stake at least 100,000 FUSE tokens to become validators, helping to validate transactions on the Fuse Network.
  • Voting: Validators can vote on protocol changes and important decisions concerning the project. The weight of a user's vote depends on the amount of FUSE staked.
  • Fees: Users pay FUSE as fees to the network to approve transactions, capped at 1 cent per transaction.
  • Delegation: FUSE token holders can delegate their tokens to validators in exchange for rewards.
Inflationary Value of FUSE Token
  • Block Rewards: New FUSE tokens are created with each block on the Fuse chain, rewarding validators for their work.
  • Inflation Rate: The network has a fixed 5% inflation rate, distributed among validators. This helps stabilize the token price.
Additional Features
  • Bridge: FUSE tokens can be moved seamlessly between Ethereum and the Fuse chain, allowing for integration with other blockchain models and traditional business transactions.
  • Staking: Token holders can stake their FUSE to earn passive income.
  • Governance: Validators can participate in network governance, with their vote weight determined by the amount of FUSE staked.
Use Cases
  • Digital Payments: FUSE can be used to integrate digital payments on platforms, making it convenient for companies and enterprises to offer goods and services globally.
  • Business Operations: Smart contracts on the Fuse Network can automate business operations, reducing costs and increasing efficiency.
  • Lending: FUSE can be used as collateral for loans, providing additional liquidity options for token holders.

Overall, the Fuse Network Token (FUSE) plays a central role in the Fuse Network ecosystem, facilitating transactions, governance, and staking while promoting the adoption of crypto payments and DeFi solutions.

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Fuse Network Token's strengths

The Fuse Network Token (FUSE) has several strengths that contribute to its potential success and adoption:

  1. Low Transaction Fees: The Fuse blockchain offers low transaction fees, making it an attractive option for businesses and users looking to reduce costs associated with transactions.

  2. EVM Compatibility: Fuse is compatible with the Ethereum Virtual Machine (EVM), which allows for easier connectivity with developers from the Ethereum blockchain and facilitates the integration of Web 3.0 services and crypto payments.

  3. SDK Toolset: The Fuse SDK toolkit is designed to enable companies to integrate Web 3.0 services and crypto payments into their mobile products through smart contract wallets, making it easier for businesses to onboard to the Fuse ecosystem.

  1. Payment Focus: Fuse is specifically tailored towards transforming the global payment landscape, providing a robust and innovative blockchain solution for entrepreneurs and organizations looking to leverage Web 3.0 technologies and integrate crypto payments.

  2. Deflationary Model: The proposed transition to a deflationary model and the reduction of the maximum supply of FUSE tokens aim to increase token value, stability, and sustainability, which can attract more market visibility and investor interest.

  3. Staking and Governance: FUSE token holders can participate in staking, earning passive income and gaining the ability to vote on network governance, which helps maintain the network’s decentralization and security.

  1. Comprehensive Ecosystem: The Fuse ecosystem covers various fields like DeFi, NFTs, lending, wallets, and stablecoins, providing a wide range of services and tools for businesses and users.

These strengths position Fuse as a promising solution for businesses and individuals looking to integrate decentralized payment mechanisms seamlessly into their operations.

Fuse Network Token's risks

The financial risks associated with the Fuse Network Token (FUSE) are primarily related to its market volatility and investment risk.

Market Volatility

The price of FUSE tokens can fluctuate significantly, making it a moderate to low-risk investment depending on the current market conditions. For instance, in November 2022, the risk gauge rank for FUSE indicated it was a moderate risk investment, while in April 2023, it was considered a low-risk investment. This volatility can result in significant losses if the market moves unfavorably.

Investment Risk

As with any cryptocurrency, investing in FUSE tokens carries inherent risks. The token's value can drop due to various market and economic factors, and there is no guarantee that it will increase in value over time. Additionally, the Fuse Network's success and adoption are crucial to the token's value, so any setbacks or failures in the project could negatively impact the token's price.

Liquidity Risks

While FUSE tokens are available on several popular exchanges, liquidity risks still exist. If there is low trading volume or a lack of buyers, it may be difficult to sell tokens quickly or at a favorable price, which can lead to significant losses.

Regulatory Risks

Cryptocurrencies are subject to changing regulatory environments, and Fuse Network is no exception. If governments or regulatory bodies impose unfavorable regulations or restrictions on the use of FUSE tokens, it could negatively impact their value and usability.

Security Risks

As a blockchain-based project, Fuse Network is vulnerable to security risks such as hacking, smart contract vulnerabilities, and other forms of cyber attacks. If the network is compromised, it could lead to the theft or loss of FUSE tokens, which would negatively impact investor confidence and the token's value.

Project Risks

The success of the Fuse Network and its token is heavily dependent on the project's ability to execute its roadmap, build partnerships, and gain widespread adoption. If the project fails to deliver on its promises or faces significant setbacks, the value of FUSE tokens could decline.

In summary, the financial risks associated with FUSE tokens include market volatility, investment risk, liquidity risks, regulatory risks, security risks, and project risks. It is essential for investors to carefully evaluate these risks and conduct thorough research before investing in FUSE tokens.

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Did Fuse Network Token raise funds?

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Fuse Network Token’s team

  • Emmanuel Ebanehita: Chief Marketing Officer, responsible for spearheading marketing initiatives and expanding the network's reach.
  • Sasha Goldberg: Treasury and Liquidity Manager, focused on fortifying the network's economic stronghold and ensuring stability and growth.
  • Ronald Tato: Ecosystem Manager, responsible for fostering relationships and nurturing partnerships to ensure the ecosystem's growth.
  • Magali Schapira: Business Development, focused on identifying potential partnerships and avenues for growth.
  • Hesham Shabana: Senior Web3 Developer, driving the development and optimization of Web3 solutions.
  • Musab Shakil: Frontend Developer, enhancing the user experience and ensuring functionality and aesthetics are in harmony.

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