FUSION ‘Easy-Swap’ Explained

EasySwap is an important function on the FUSION Blockchain. Currently, FSN is an ERC-20 token on Ethereum but we will transition to a native token on the FUSION Blockchain after mainnet. Users only need to lock-in their own FSN token by sending it to their FUSION wallet and they can conveniently obtain the FSN native currency, on mainnet (For more info about Lock-in, please refer to the LILO technology article).

For projects whose mainnet has not been released yet, users hold only “temporary tokens” issued on Ethereum (or other platforms), using the ERC-20 standard. These can be used then as transitional tokens for transaction purposes. After the mainnet goes alive, if it is necessary to migrate the “temporary tokens” on the Ethereum system to the native FUSION mainnet, so users can truly hold the mainnet’s native token. This asset migration process is “swap”, which is also called ‘mainnet mapping’.

To use EOS as an example, according to the announcement on the EOS official website, the EOS mainnet will be officially launched on June 2, 2018. However, just less than a week away from the EOS mainnet launching date, some blockchain security company has sounded alarms, stating that, according to their research, 51.7% of EOS tokens have not yet been mapped to the mainnet. However, according to the official EOS mapping requirements, EOS token holders must complete the mapping of the main network within 23 hours after the end of crowdfunding If not completed, the previously held EOS, which is only for temporary transaction purposes, will not be acknowledged by the mainnet and the assets value might become zero.

The example of EOS allows us to see that the “swap” process of tokens is complicated and is full of risks. Because the mainnet mapping process involves cross-chain interaction, the platform cannot automatically complete it.

Currently, the holder of the “temporary token” can implement the mapping in the following three ways: individual manual mapping, wallet mapping, and exchange mapping.

  1. Individual Manual Mapping — Individual Manual Mapping is a standard mapping method generally provided by the project party. The process is particularly tedious, complicated, and there is a huge technical threshold. There are even cases where the users have exposed their private key while doing public key mapping and suffered loss.
  2. Wallet Mapping — Wallets, such as ImToken, METAMASK, MyEthWallet, and others support mainnet mapping operations. However, many users also give the feedback that the wallet mapping process is cumbersome, and there are still some technical thresholds for users.
  3. Exchange Mapping — Currently, Huobi, Binance, OKEx, Bitfinex and other exchanges will help users finish the mainnet mapping process. However, the project party will need to contact a large number of exchanges for the technical transition. The cost is high, and the process is prone to problems.

It can be seen that, regardless of the path, the current mainnet mapping optionss have technical difficulties and are full of risks.

Compared with existing platforms, people will find FUSION’s “Easy-Swap” will have a huge advantage. No matter whether it is a token issued on the FUSION platform or an ERC-20 token issued on the Ethereum platform, FUSION can easily provide the mainnet mapping function based on the LILO technology. For users, the LILO process is extremely simple, just as easy as getting cash from ATMs. The user only needs to perform a one step process on the FUSION wallet: After Locking in the transitional token, use Lock-out to obtain the mainnet native token.

For project parties, FUSION’s LILO technology has cross-chain interaction capabilities. By utilizing the mapping interface, new mainnet mapping support can be added.

Mapping process

Inputs

AssetId — Asset type ID
GasAssetId — Fuel Similar ID
PKType — Private key type
DataTemplate — Template for populating data, with {from} {to} {value} parameters
RPCPort — Remote Invocation Interface
InitShell — Initializes the RPCServer shell
RestartShell — Restarts RPCServer Shell

Output

Address — Lock-in address

After the project party completes the mapping utilization, and Locks in its mainnet token, users can lock-in their own ERC-20 token then lock-out for the mainnet token. In this case, the user does not need to import any private key, thus there is no security risk.

The FUSION mainnet is about to be launched. “EasySwap” will bring a very good user experience. Let us wait and see.