Fuse Network – Wiki

The future of money

is open–source.

What was once a concept is now emerging as a reality, with ever-increasing transactional flow being captured by peer–to–peer networks. With Fuse, anyone can launch and manage these new networks, empowered by simple, easy to use tools.

A highly-skilled, diverse team of blockchain and web–based technology experts has been assembled in order to execute on our ambitious vision of putting truly democratized and borderless money into the hands of millions.

A Flourishing Ecosystem of Leading Brands Building on Fuse

From DeFi and Web3 applications to real world implementations that positively impact the lives of everyday people – browse the innovative projects building on Fuse.

Fuse (FUSE) – attracting money

The Fuse network is designed specifically for local communities and is used for everyday mobile payments for anyone with a phone.

It is designed as an inexpensive alternative to traditional cash or cashless payments. This lowers entry barriers for entrepreneurs to launch wallets, payment services, loyalty programs, and any other systems that previously worked on paper.

Moving money to Fuse requires a flat fee of up to 1 US cent (max $0.01) per transaction. The network is designed to be easy to use and understand, ready for mass adoption and much more efficient than existing alternatives.

Fuse provides a new way to launch services and engage customers through mobile payments. This allows entrepreneurs to integrate day-to-day payments into their business. This reduces the cost of launching and operating noncustodial microfinance and microtransaction services. It uses the powerful common business processes provided by blockchains.

Fuse lowers the barrier for entrepreneurs to create powerful, efficient and sustainable products. Thus, they spend less time and money on IT and can focus on attracting and developing their clients and customers.

Set up your wallet and currency

Fuse Studio allows you to create your own wallet and mint your own branded currency for your company/community. We take care of all the hard work, allowing you to reward and grow your user base by seamlessly integrating a complex payment solution.

Fuse (FUSE)

The Fuse chain is an Ethereum sidechain designed specifically to replace traditional mediums of exchange and make blockchain payments more accessible to mainstream audiences. The network is run by validators, which are organizations that run nodes that validate transactions and execute smart contracts. Validators receive money in Fuse tokens.

Network validators are the companies involved in building the Fuse software stack.

To qualify as a validator, an organization must stake a certain amount of the Fuse token and become a long-term member of the network.

Any Fuse token holder can delegate it to a validator and thus participate in network governance.

This DPoS (Delegate Proof of Stake) mechanism allows the network to grow, and the constant selection of validators reduces risk.

What is a fuse network

The Fuse Network is a permissionless, borderless, public ledger designed to easily integrate everyday payments. It is pegged to Ethereum via a bridge that allows any token to move freely between Ethereum and the Fuse chain. The token is created on Ethereum and then moved to the Fuse chain, where it gets access to a wide range of features and business plugins that bring it to life.

User data on the Fuse network is stored by users on their devices and they decide who to share it with using standard web3.0 interfaces. Users can join communities, and community contracts define their data and governance policies. These communities can be run by individuals or organizations, everything on the blockchain is public and transparent.

Fuse Studio allows users to easily launch and manage new communities with a built-in contract repository that makes it easy to launch new features and integrated services – fiat on-ramps, business management plugins, community management features and more.

Fuse Token (FUSE)

The Fuse token must be deposited into the network in order to confirm transactions. The Fuse network uses the token to create circulation between users who want to validate transactions on the network and validators who invest and maintain computing resources. Each block created on the Fuse chain creates new Fuse tokens, which are rewarded by validators. This creates a 5% annual inflation of Fuse tokens in circulation.

Fuse holders can block it and pass it to the validator to protect it from inflation and get rewarded with fuse tokens. Holders can choose their favorite validator, and validators are selected based on the highest amount of Fuse tokens staked.

The native Fuse token is represented via an ERC-20 token on the Ethereum mainnet and can move between the Fuse and Ethereum chain using a bridge.

Fuse token utility:

-Validation token holders can stake on Fuse to become a validator. The minimum staking requirement is 100K. The network is growing, there are currently 50+ validators. (https://health.fuse.io/)

-Voting Validators vote on protocol changes with their Fuse. This means that validators with higher Fuse stakes can have more votes on network upgrades and governance changes (until phase 2 when delegation kicks in).

-Fees The Fuse Token is the native currency on the Fuse blockchain and is required to pay fees to the network to approve transactions.

-Delegation – Activated Q3 2020 Delegation for token holders will be activated. This will allow any holder of Fuse tokens to delegate their tokens to a validator in order to receive a reward. Validators compete with each other for a fuse delegated by token holders. Validators with the most Fuse tokens are selected to validate on Fuse.

Inflation

-5% inflation in the network is distributed among the validators. In each cycle (a cycle is all transactions conducted within 48 hours), the validators with the most staked Fuse tokens will share the reward based on their stake.

-A fixed inflation rate also helps stabilize the price of the token. In Phase 2, the network will propose an update to the differential inflation schedule and be voted on by validators to optimize inflation/price policy.

-Large Fuse users can become more involved in the management and operation of the network and plan ahead, so instead of high operational costs, they can become stakeholders and benefit from network growth.

Commission

-The network charges a fee for each transaction that goes to the validators, and is capped at 1 cent per transaction.

-As long as there are unfilled blocks in the network, the transaction cost will be below 1 cent.

-Fuse transaction fees will be adjusted to a maximum of 1 US cent once blocks start to fill up. At this point, simple transfer transactions will be taken offline.

Fuse Examples (FUSE)

The Fuse network empowers entrepreneurs and businesses around the world to transform their communities into thriving economies. In the following, we explore some potential use cases for the Fuse network. Even better, all the examples given are not just conceptual ideas, but real projects that built microeconomics with Fuse.

What can be built with Fuse?

-Payment services;

-An economy based on stablecoins;

-Credits, points, loyalty systems;

-Communities with common ownership;

-DeFi integration.

Existing fuse-based microeconomics

Let’s take a look at some of these interesting projects:

Wikibank is a local organization in Seville, Spain that is changing the way people donate. Anyone can log into the Wikibank network and make a donation. Money is sent directly to those in need in their Fuse wallet. Since all transactions are tracked online, donors can see exactly where their funds are going, providing a new level of transparency for donations. The people who receive these donations can then use them in various stores in Seville, Spain by simply scanning the barcode with the Fuse Wallet. This simple and holistic model allows donors to help those in need honestly and transparently while supporting trade in local shops in their neighborhood. Wikibank is in the process of adding thousands of local merchants to further develop this important micro-economy.

GoodDollar is a groundbreaking non-profit initiative that aims to build a sustainable and scalable foundation to bring a global Universal Basic Income (UBI) to the world. The GoodDollar economy is made up of two parties: supporters and contenders. Supporters willing to help the cause can invest in the community with their own funds, convert fiat to G$ coins, and earn interest in return, which is generated through the interest-generating DeFi protocol. The invested funds are locked in the “Good Reserve”, in which interest is accrued, which is used to distribute capital among the applicants. GoodDollar users can request, send and receive their UBI through a digital wallet running on the Fuse network.

Digital Rand Stablecoin Digital Rand (DZAR) is an exciting project from Johannesburg, South Africa to create a new ERC-20 compliant stablecoin on the Ethereum chain. DZAR stablecoin is a non-volatile crypto asset whose value is backed by the value of the fiat South African rand at a ratio of 1:1. Using the DZAR digital wallet, which is now available on the App Store and Google Play, users can send and receive payments and exchange DZAR with other digital assets. The project aims to provide users in South Africa with an easier and more secure way to store, transfer and exchange digital assets without being subject to price fluctuations and difficulties in adapting.

PayWise – Imagine an island with limited ATMs. Some may walk or drive just to earn money. PayWise, a Trinidad loyalty wallet powered by the Fuse network, allows you to pay for purchases using PPP (PayWise points program). Using this wallet, users can receive PPP, send it to friends, or discover places to shop on the island. The program is operated by PayWise, the local payment processor in Trinidad.

Learn more about PayWise or try the PayWise Points app on Google Play.

Seedbed is an exciting self-service platform that allows users to create and manage their own community currency. It provides the infrastructure and tools for community self-sustainment and economic growth. Users can easily manage monetary policy, run community pools, create new tokens and more – it is a token generator and community currency launcher.