Recently, we published a report on the exciting progress being made by one of Fuse’s biggest ecosystem projects Peepl, as well as by companies that are extending its own ecosystem by building on top of its tech stack.
To recap, Peepl is building a platform to inspire a circular economy movement and enable consumers and locally focussed businesses & organisations to benefit from the opportunities it creates without having to depend on large extractive intermediaries like Deliveroo, Uber and Airbnb. Peepl’s tech stack relies on the Fuse Network blockchain and enables Peepl itself and companies like Shocal, Vegi, Yourgaff and The Guide to directly connect local businesses and consumers. Using smart contracts to generate and retain wealth within local economies.
The Peepl platform will be powered by its native token PPL that will, among other things, be used to reward consumers for purchasing within the project’s ecosystem. We are delighted to announce that, in a major new step for our fruitful collaboration, the Fuse Foundation has completed a token swap with Peepl.
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.
Out of these, 250,000 have been unlocked immediately, while the remaining 500,000 will be vested over a 4-year period. More specifically, those tokens have been delegated to the Peepl validator node on Fuse Network. The validator rewards received by the Peepl validator from the vested tokens will be periodically restaked.
The token swap between Fuse and Peepl will undoubtedly serve to bring our projects and their communities ever closer together. Fuse’s vision primarily involves creating payment rails for bold, innovative real-world-focused projects like Peepl and we are excited to further strengthen our ties.
