Fusion: MainNet in four days! The Foundation grows adoption with 7 companies acquiring Technology License, Integration into the Binance Chain ecosystem, Staking on Fusion (~40% ROI)

Paradigm
Paradigm
Jun 26 · 15 min read

Biweekly update 12th June — 26th June

Development

GitHub metrics:

Last commits on public GitHub were made on June 25th, 2019 in web3-fusion-extend (a web3 layer with functions for FUSION’s protocol) repository.

Developer activity (from Coinlib.io):

Fusion Foundation Announces MainNet Launch of its Open Source Protocol to Bring Blockchain Finance to the Masses:

Fusion Foundation announced the official MainNet launch date of its ground-breaking open source protocol developed to bring blockchain finance to the masses. Following the December launch of Fusion’s Payable Staged Test Network (PSN), Fusion’s growing user community added hundreds of nodes, more than 800,000 transaction blocks and validated over 1,000,000 transactions.

The timing of Fusion’s MainNet launch, set for June 30, is welcomed by the 40+ companies — including banks, global social impact organizations, blockchain projects, exchanges and more — that are actively exploring how to use Fusion’s innovative features and interoperable framework. By combining these features, virtually any financial transaction can easily be expressed on the blockchain. Earlier this month, Fusion was invited to discuss the role of blockchain for bringing global finance to the masses as a featured panellist at the United Nations Blockchain Summit in New York.

“The Fusion community and our key business partners have been incredibly helpful in our testing and development efforts,” said Dejun Qian, founder and CEO of Fusion Foundation. “It was important for us to build our network to meet needs of real businesses, synthesizing feedback and incorporating partner recommendations to build a protocol and network to transform global finance.”

Key functionality on Fusion’s MainNet

Time-lock — Fusion’s unique Time-Lock feature enables users to extract time-value from digital assets and easily model time-based transactions (such as licensing agreements and asset rentals) on the blockchain.

Quantum and Multi-Swap — Quantum Swap facilitates the seamless and cost-effective cross-chain exchange of any two asset pairs wherein the only expense is gas fees paid to stakers. Multi-swapping takes quantum-swapping to the next level, enabling many-to-many swaps of any digital assets with incredible efficiency, a feature never seen before in the blockchain landscape.

Universal wallet and Short Account Number (SAN) — Fusion introduced a powerful cross-chain wallet that can control any digital asset across any distributed ledger. With these capabilities, users can acquire a SAN to replace their long and error-prone public address with a short address typically between three to five numerals long.

Asset Creation and Enhancements — New digital assets can be created in a matter of seconds using the Fusion protocol without the need for any programming or smart contracts. Assets can also be enhanced with additional data to create non-fungible assets. Asset creators even have the flexibility of adjusting the supply of a digital assets to suit their business needs.

Staking — Consensus on Fusion’s public blockchain will be achieved using a custom-built Proof of Stake algorithm that has already been running smoothly on Fusion’s TestNet for almost 6 months. In fact, staking on Fusion’s TestNet earned participants more than $700,000 (at time of writing) worth of FSN token rewards for block validation. The community is expecting rewards to be significantly higher on MainNet with some calculations estimating more than 40% yearly rewards from staking.

Fusion (FSN) Token Swap

Fusion token holders will be able to easily transition their ERC 20 FSN tokens to native Fusion main network tokens. This process is as simple as sending ERC20 tokens to a wallet address and being automatically credited with native FSN tokens.

Although these features are now available through Fusion’s new licensing agreement, Fusion is continuing to build a global Ecosystem of Economies that connects financial systems on the blockchain. Fusion’s next priority is integrating its breakthrough Distributed Control Rights Management (DCRM) technology to MainNet. Numerous companies and projects have already signed up to use DCRM, and the technology is being enhanced by four of the world’s most accomplished cryptographers. The launch of Fusion’s MainNet brings Fusion one step closer to the new reality of Decentralized Finance for connecting legacy and next generation financial systems.

MainNet Go-Live on June 30th:

The team thanks Fusionites for the 6 months of support in helping to test Fusion innovative technology on PSN 1.0 and 2.0. Staking, time-lock, swaps, create asset, enhance asset, changeable supply, short account number, auto-buy ticket and more. The community has played an incredible role in Fusion success so far, the team could not have done it without you!

Fusion Foundation Developer Challenge:

The Fusion Foundation is setting their clever Developer Community members a fun challenge! An exciting prize is up for grabs to the winner!

Challenge 1

Use Fusion’s open source code libraries to build a simple house rental application with nice UI screens. The purpose of this challenge is to showcase how Fusion enables easy digitized asset rentals on the blockchain.

Challenge 2

Use Fusion’s open source code libraries to build a new Fusion wallet (including swap features) with some awesome looking screens!

The Prize

A ticket to Digital Asset Summit (DAS) valued at $949.00, and a dinner with the Fusion team in NYC!

There is one prize per challenge!

Link to Fusion’s Github libraries

Link to Fusion’s API repository

Please submit your work to — contentbounty@fusion.org

Contact a Fusion team member on Telegram (@YonaTak, @BitJoe) for further assistance, and join the Fusion Developer Community channel to brainstorm ideas.

Social encounters

Fusion’s Dejun Qian 1-on-1: DJ Qian Interview with Crypto Shark.

Publications in official Fusion blog:

Stablecoins and One Platform to Exchange ’em All by John Liu and Tyler London:

The move towards cashless societies is in full swing as people rely increasingly on credit cards, debit cards, and mobile payment solutions. As understanding and acceptance of cryptocurrencies increase, the question naturally becomes — are cryptos the next big ingredient to accelerate the world to cashless societies? Through the innovation and stablecoins, it appears that the answer is “yes”. However, with the rapidly growing number of stablecoins being issued on different chains and siloed adoption in different markets, an “all-coins-in-one” solution made possible by Fusion will be more important than ever to keep the digital revolution on track.

Insights from UN Blockchain for Impact Summit 2019 by Fusion Product Officer John Liu:

John Liu was a panelist at the Blockchain For Impact 2019 Summit hosted at the United Nations on June 4th, 2019. The summit, organized by UN Blockchain Commission for Sustainable Development (BCSD), brought together over 400 global nonprofits, world leaders and ministers, international diplomats, tech companies large and startup, and financial institutions.

John Liu interacted with innovators and leaders from all over the world, from different industries, with different roles, and left more determined than ever to build solutions with impact.

Through the summit, he learned of innovative companies such as Carmen Benitez’s Fetch Blockchain, leading to discussions on how to leverage Fetch’s land title registration technology with projects Fusion have developing in the Middle East to meet the UN Sustainable Development Goals (SDGs).

Joaquin Lopez, CEO of i4SD, and the moderator of his panel, and he had great conversations over the past few weeks while preparing for the panel, which resulted in a collaboration between i4SD with Fusion.

This type of collaboration, with determination and urgency to build, was the purpose of the summit. So, congratulations and thanks to the organizers of BFI — the summit was a great success.

The biggest takeaway was laid out in the opening remarks by Robert Skinner and emphasized throughout the day by Amir Dossal: They want to build real solutions, and it was an open and urgent call to engage the UN to meet the SDGs. The SDGs are a $30 trillion opportunity (according to UNDP) and UN themselves are not satisfied at current pace of progress. In 2018, UN was focused on awareness. In 2019, UN is focused on outcome. Outside of building technology solutions, John Liu is going to volunteer and help in any form of blockchain education that is needed by the organization.

Read more >>>

Upcoming events:

Finance

Token holders and the number of transactions dynamics (from Etherscan.io):

There is a stable increase in the number of token-holders these weeks.

Information from Coinmarketcap.com:

Upbit will support mainnet integration of Fusion ( $FSN ) on June 30th. Find out more here.

With MainNet around the corner, what rewards can we expect from staking?

With the launch of MainNet approaching fast on June 30, it’s time to talk about staking rewards!

Staking on Fusion is really easy: they have numerous staking guides and a Telegram chat group filled with generous staking gurus who are always happy to help!

The team is anticipating very healthy block rewards for staking on MainNet. Network participation is the bedrock of a public blockchain and block rewards are a good way to strengthen the network by incentivizing participation and increasing decentralization.

The easiest way to estimate your potential future staking rewards is to use the Fusion Staking Estimator which pulls directly from Fusion’s block explorer (currently pointing towards PSN 2.0 Block Explorer).

Alternatively if you would like to understand the inputs used in the calculator, here is the equation they use for calculating staking rewards per year:

(Quantity of tokens staked / Quantity of total tokens staked in the network) * 2.5 FSN (Reward per block) * 5,760 (Blocks per day) * 365 (Days in a year)

As an example, let’s suppose that a staking participant has 5,000 FSN tokens and that a total of 8,000,000 FSN tokens are in the staking pool on main network.

We can input these values into the equation:

(5,000 / 8,000,000) * 2.5 FSN * 5,760 * 365

= 3,285 FSN tokens earned per year from staking.

The % rewards for staking per year therefore = (3,285/5,000) * 100 = 65.7%

With those numbers, it’s easy to see that staking rewards on Fusion are relatively high compared to other tokens.

As with many decentralized networks, staking and mining rewards are especially favourable at the early stages of the networks existence. Early adopters have the potential to reap disproportionate rewards whilst the network is small and competition for block validation is relatively low. Don’t miss out!

Fusion Bug and Content Bounty:

The Fusion Foundation is rewarding community members for their contribution to improving the Fusion network and applications.

As an open-source project, the community plays an active role in the development and security of the project and Fusion is keen to provide an incentive in FSN tokens to activate community participation.

Fusion is also rewarding community members that assist in generating helpful and engaging content that supports the community to learn about and use Fusion applications. Approved content will be added to the Fusion Knowledge Center and shared across Fusion’s Social Channels.

Bug Bounty

Fusion has set up a submission form ‘ISSUE_TEMPLATE.md’ that has instructions on how to submit a bug. This form can be found in all of Fusion’s Github repositories. Bug hunters are encouraged to join the Fusion Developers Community Telegram channel to understand current issues that are being worked through and to discuss their contributions.

Content bounty

Please email contentbounty@fusion.org with an outline of your content creation proposal, include the content format, content topic, brief description and any other information you think is relevant.

After submitting a content proposal, please wait for approval from the Fusion team, they will respond directly to the same email address.

If approved, they encourage you to produce the content piece and submit it to the same email address (contentbounty@fusion.org). Upon review and approval, you can share it on your preferred channel.

For more information on on the bounty visit the Bounty page on Fusion’s website.

Roadmap

From Fusion Whitepaper:

From DJ Qian Interview with Crypto Shark (June 2019):

Fusion’s short-term strategic priorities:

  1. Launch mainnet in Q2.
  2. Integrate Fusion’s interoperability solution DCRM with mainnet.
  3. Work with our existing and upcoming partners to help foster wider adoption of Fusion’s technology.

Longer term priorities:

There are 3 priorities in the long term. Adoption, Adoption and Adoption with REAL business.

From Official Telegram group:

Rudy (@RkadSG, admin):

“No roadmap available yet…”.

Partnerships and team members

Fusion Foundation Grows Adoption with 7 Companies Acquiring Technology License:

Fusion Foundation revealed that 7 projects have obtained their recently announced Technology License. Eager to begin leveraging Fusion’s Interoperability protocol and unique financial features, Fantom, LINIX, Nvelop, Ferrum Network, MARK.SPACE, XDLT and Kernel have all subscribed to Fusion’s token-based licensing model.

Fusion Foundation Founder Dejun Qian commented ‘It’s exciting that only a week after revealing the details of our innovative token-based licensing model, we can already share with you our first batch of subscribers.’ Mr Qian believes that Fusion will do for digital asset interoperability what TCP/IP did for the Internet. ‘We’re showing the world the early stages of a new blockchain protocol for transferring digital values across the internet in much the same way as we share information” said Qian.

How will the first batch of subscribers use Fusion’s technology?

Fantom — Fantom has selected Fusion’s cutting-edge interoperability solution to expand the accessibility and reach of their Direct Acyclic Graph (DAG)-based distributed ledger.

Nvelop — Nvelop will use Fusion’s tech to digitize assets with an extensive range of attributes and customize value exchange with unprecedented interoperability.

LINIX — LINIX Foundation will integrate Fusion’s DCRM technology into their DAG infused blockchain to achieve cross-chain compatibility.

Ferrum Network — Ferrum Network will leverage Fusion’s DCRM tech to achieve reliable interoperability and enhance their non-custodial digital currency wallet.

MARK.SPACE — MARK.SPACE will be aided by Fusion’s technology in their bid to create digital assets and derivatives from user generated content, and provide an interoperable framework to trade these assets.

XDLT — With the help of DCRM, XDLT will enable users to easily extract actionable data from the world’s most popular blockchains.

Kernel — Kernel is developing an application that leverages Fusion’s DCRM protocol and other native financial features to liberate and fractionalize the Time-Value of assets.

Fusion and Binance Chain are Driving the Next Wave of Interoperability, Together:

Fusion is thrilled to announce that they are integrating into the Binance Chain ecosystem to bring great value to Fusionites and Binancians alike! The first part of the engagement involves integrating Fusion’s FSN token with Binance Chain.

The Fusion team ensures that their FSN utility token is accessible to anyone seeking to use their platform and technology. They will empower a large new developer and user base to build with and experience DCRM, time-lock, quantum swap, asset creation and enhancements and all the other features native to Fusion’s public chain.

Fusion and Binance share a vision of the not-too-distant future where digital assets can freely interact without any technical barriers. They want to push blockchain adoption forward and are humbled to work together with other projects on Binance Chain to reach new levels of interconnectivity.

Fusion is proud to be one of the early projects running on Binance Chain and are looking forward to being part of their thriving ecosystem. Fusion is also excited to announce that Binance’s BNB token will be one of the first tokens made compatible with Fusion’s interoperable public chain.

Binance Chain is a high speed, secure and user-friendly blockchain that serves as a solution for users who would like to issue and trade digital assets whilst maintaining complete control over their private keys. This approach strongly aligns with our vision for DCRM that enables limitless cross-chain interactions without compromising on decentralization or user experience.

Integration

Fusion will migrate a portion of FSN tokens to the BEP2 standard that is compatible with Binance Chain. Because of DCRM, Fusion’s tokens can exist in different states whilst remaining completely compatible with the Fusion public chain. FSN in the BEP2 format will be able to be locked into the Fusion main network and controlled by your universal wallet.

Fusion recognizes the value that Binance has contributed to the cryptocurrency community at large, and are looking forward to becoming an active participant in their new decentralized ecosystem. As the fabric of the digital economy, they believe that together with Binance they will be able to empower the Ecosystem of Economies to grow towards a level of adoption not been seen before in the blockchain industry.

About Binance Chain

Binance Chain is a blockchain software system developed by Binance and the community. Binance Chain is a community-driven development project with many developers and contributors from all over the world. Binance DEX is the decentralized exchange feature developed on top of the Binance Chain blockchain.

Social media metrics

Social media activity:

Social media dynamics:

Fusion community continues to grow slowly. Social media dynamics shows that it remains virtually unchanged. There is a slight fluctuation in the number of subscribers of Fusion social media channels these weeks.

Twitter — Official announcements channel. Average number of retweets is 30–60 for one post.

Fusion Community‏ Twitter: since October 19th, 2018. Not active since November 26th, 2018.

Fusion Announcements Telegram channel — Official announcements. About 2,5K followers.

FUSION Developers Announcements Telegram channel: Tech discussion.

Facebook (till May 2018) — Announcements, 10–15 likes, 1–2 shares.

Bitcointalk.org: since January 20th, 2018. Last post — on June 19th, 2019. Discussion on PSN, latest news, price, etc.

See also Fusion forum.

The graph above shows the dynamics of changes in the number of Fusion Facebook likes, Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.


This is not financial advice.

Subscribe to detailed companies’ updates by Paradigm!

Medium. Twitter. Telegram. Reddit.

Paradigm fund

Paradigm is a family office fund investing in crypto space since 2013. We are a group of industry experts & crypto enthusiasts consisting of PhDs and graduates from the top universities with experience in creating startups, trading on traditional financial markets and blockchain

Paradigm

Written by

Paradigm

In chaos lies the truth

Paradigm fund

Paradigm is a family office fund investing in crypto space since 2013. We are a group of industry experts & crypto enthusiasts consisting of PhDs and graduates from the top universities with experience in creating startups, trading on traditional financial markets and blockchain