Fusion AMA With Ethfinex Community
Fusion participated in a live AMA with the Ethfinex community in their Telegram channel on the 7th of March. Check out the Q&A transcript below:
Q. Why would Institutions choose Fusion to lock in their assets on Fusion?
A. To access the complete functionality of the Fusion protocol including Fusion’s time-based asset ledger. Any locked-in asset can interact with time-lock, quantum swap and other innovative feautures. 5 simple use-cases for time-based transactions were explored in this video that i highly recommend checking out.
1) Our time-lock feature and view on time-based transactions is something that allows institutions to recreate many complex, and industry specific transactions on our platform.
2) The interoperability opportunity allows for interconnected exchange of value and information across different chains.
3) Fusion’s focus on building solutions that solve commercial needs, using Fusion’s protocol.
Q. Perhaps we can start from the beginning, how did you guys come to be and what core problems are you seeking to solve?
A. DJ, our founder has long had a vision of building an interconnected financial protocol that helps usher in the internet of value. As such, he started Fusion focus on two concepts: 1) interoperability and 2) boiling down financial transactions to the base concept of time and asset swap.
Q. Can we expect STO’s on fusion?
A. Fusion’s goal is to mirror any asset created from external chains — these would include STOs.
Q. When will Fusion launch Main net?
A. Regarding main net, we are currently going through heavy testing in PSN with our community and very close to releasing a 2.0 version with optimizations around performance and stability learned from our PSN 1.0. As you know, what we are trying to bring to live is complex and we want to do things correctly. We are targeting a main net launch in H1 2019 and as eager as we are to launch, we will not rush out something that is not stable or secure.
Q. So by Q2 end you are targeting main network launch for Fusion?
A. That is our target. We are transparent with our progress and should there be any challenges, we keep all informed. As mentioned, we put stability and security as top priorities and won’t compromise on those. Appreciate everyone’s patience and support.
Q. Is there a breakdown somewhere of the $12.3billion of assets committed to the project?
A. The $12 Bil in assets are still committed. Of course, when dealing with high value assets, security is of utmost importance. Fusion will be looking to progerss the tokenization of these assets after mainnet launch and only after considerable testing and security audits.
Q. What separates Fusion from other projects?
A. 1) The use case video shared above, demonstrates the power of the time-centric focused platform that Fusion has built into its protocol:
2) Our interoperable technology Distributed Control Rights Management (DCRM) has a unique approach to manipulate external assets while protecting privacy and security of an asset holders wallet through the sharding of private keys and accounts.
3) Our focus on partnering and solving real world use cases through our technology as opposed to a “build and they will come” approach, as shown in our recent partnership with AXP.
Q. Hi John and Bariq what are your roles at fusion?
A. (John) My role at Fusion is Product Strategy. I work to guide product develpoment, prmote our products to startegic partners, and craft prototype products that solve the needs of strategic partners and showcasing the power of Fusion’s protocol.
(Bariq) I am working on bringing projects to be built or migrated to fusion protocol that could help us grow the ecosystem, and am building partnerships with both public and private sectors.
Q. Can you please explain the Interoperability Function of Fusion?
A. Fusion has developed an interoperability solution at the protocol layer that enables the seamless lock-in and lock-out of any token/digitized asset. We call this technology DCRM. Here are two articles that explain how DCRM technology works to support complete cross-chain interoperability.
I think the best way to explain our interoperability solution is to post through a few article article that I co-authored, which breaks down how DCRM is able to access and control balance of external assets, through the permission of the asset holder , via sharded custodial accounts on external chains. Mirror representation of these assets are then created in Fusion protocol so that they can benefit from the rich features of quantum swap, time-lock and of course, interact with all the other assets.
Q. how is quantum swap different from atomic swaps?
A. Our assets are listed with balance information in an account, the quantum swap can move assets between accounts within one transaction in a block — as opposed to multi-step and multi-chain process employed by atomic swaps.
The issue with Atomic Swaps is the process is cumbersome and unreliable. A channel must be opened between the counterparties participating in the exchange, the exchange must be approved and executed within a limited time window, any error by either counterparty can result in delays, unresolved exchanges and locked funds. Inevitably, the completion of an Atomic Swap requires numerous steps and is prone to error, failing to compete with the efficiency and seamlessness of a centralized exchange.
With Quantum swap, any asset locked-in on the Fusion protocol can be seamlessly exchanged with any other trading pair on the network. The exchange is completely feeless, unrestricted and all the parameters of the swap are entirely controlled by the user.
Q. What is the issue you are trying to solve with PSN2.0? What are the setbacks in launching it?
A. PSN 1.0 has numerous features that are working well, including time-lock, short account number and seamless asset creation. ON 2.0 we are anticipating the introduction of two new features, quantum swap marketplace, and asset gateway that will enable the lock-in erc20 tokens to the PSN ecosystem. The only thing preventing the release of PSN 2.0 todat is a refinement the tech team is doing to the consensus engine, we have made great progress on this over the last week and are expecting the release soon.
Q. What adoption progress can we expect in the coming months?
A. We have various partnerships in progress in both public and private sector and will share at appropriate time. These partnerships have stemmed from relationships made by DJ, Charles, and of course Barek — and cover both public and private areas.
Q. Your website says that the project will be cross-border, will that include interoperability with other blockchains? If so do you have a list of which ones you’ll support to begin with?
A. Interoperability is one of the key differentiators as was discussed earlier, I suggest you read the articles we shared above! We are already testing interoperability with various erc20 tokens, starting with stable coins like Gemini, Paxos, and Dao.
Q. Will your future token support non-fungibility?
A. Yes we will. That is a very exciting area we are working on right now with our CTO Bret. In order to solve some of the challenges with AXP, support of non-fungible assets is being developed. For example, a car model is not unique, but a specific car with a VIN (vehicle identification number) is.