Fusion: 295 active nodes and 13.6M FSN locked for staking, FSN lists on Binance DEX, Asset Gateway live with PAX
Biweekly update 10th July — 24th July
Dear Fusionites! The network quickly expanding! We love keeping track of the consistent growth we are seeing on Fusion MainNet! Every day more FSN tokens are locked-up for staking, and more nodes are participating in consensus. Rest assured, the numbers speak for themselves! As for today, there are about active 300 nodes participating in consensuses and more than 13.6M FSN locked for staking, which is approximately 41% of the circulating supply of FSN. Moreover, yet the FSN reward rate is still about 40% per year. These weeks, the Fusion team crafted a short survey to capture your feedback on their new MainNet functionality. They want to ensure that you have the best possible experience when interacting with their features, so please take a few minutes to share your thoughts with them. Fusionites, we did it! With your help and the positive votes received from Binance DEX validators, the team ran the listing command for a FSN/BNB pair to begin trading yesterday. To trade on the DEX, you need to get your hands on BEP2 FSN which their pals at Fantom have made easy using the Token Swap Bridge. Check out the step-by-step guide on how to execute the swap in Fusion official blog. Fusion’s Asset Gateway is live on MainNet with Paxos Standard Token enabled. Feel free to lock-in your Paxos tokens and give them access to the extensive functionality available on Fusion’s network. As for the social side, Fusion participated alongside 20+ other firms, including China Association of Small and Medium Enterprises, in TeqAtlas research paper on ‘Emerging Technologies for SMEs’ covering blockchain, AI, and IoT. Read the full interview in which John Liu discusses how to validate the truthfulness of smart-contract triggering events, what disturbances smart contract may bring to stock markets and more!
Developer activity (from Coinlib.io):
It 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.
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.
After the Fusion MainNet went live on June 30th, the time has arrived to transition your ERC20 FSN tokens to Fusion native MainNet FSN coins.
MainNet delivers on Fusion’s promise of being the best in breed solution for blockchain interoperability. As a result, Fusion empowers an incredibly easy Token Swap process whilst ensuring liquidity and compatibility with exchanges.
Indeed, FSN can exist and switch between various forms and still be compatible with MainNet, say as native MainNet FSN coins, ERC20 FSN tokens, or even the FSN Bep2 format that is the standard on Binance Chain DEX.
Quantum Swap Marketplace Filters Now Activated:
Fusion crafted a short survey to capture your feedback on their new MainNet functionality. They want to ensure that you have the best possible experience when interacting with their features, please take a few minutes to share your thoughts with them.
TeqAtlas talked to John Liu, Chief Product Officer at Fusion Foundation to discuss how to validate the truthfulness of smart-contract triggering events, what disturbances smart contract may bring to stock markets and what potential asset digitalization has in terms of giving access to new pools of liquidity.
Fusion is a proud sponsor of The Future of Blockchain and Bitcoin meetup (21st of September 2019, London):
Information from Coinlib.io:
Information from Coinmarketcap.com:
On Monday the 22nd of July, Fusion announced that the Binance DEX validators had approved FSN to be listed on Binance Chain. The Fusionite community played a significant role in this process, supporting Fusion’s application with almost 400 votes and more than 100 comments.
How does Binance DEX work?
To trade on Binance DEX, users need to convert their tokens from the ERC20 FSN tokens to BEP2 FSN .
BEP2 tokens are the token standard that are compatible with Binance DEX. All tokens that trade on Binance DEX are in the BEP2 standard.
Thankfully their pals at Fantom have created a really simple way to convert ERC20 standard tokens into BEP2 standard tokens using their BNB Bridge.
How does the BNB Bridge work?
Token holders can use the BNB Bridge to easily convert their FSN tokens between the ERC20 and BEP2 standards.
The step-by-step guide will take you through the process of using the BNB bridge.
Hotbit is now trading native FSN. Be careful not not to send ERC20 FSN to Hotbit.
With the launch of MainNet, it’s time to talk about staking rewards!
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!
Also, check out Staking On Fusion MainNet page.
From Fusion Whitepaper:
From DJ Qian Interview with Crypto Shark (June 2019):
Fusion’s short-term strategic priorities:
- Launch mainnet in Q2.
- Integrate Fusion’s interoperability solution DCRM with mainnet.
- 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’s Asset Gateway solution, previously tested on the Payable Staged Network, (PSN) was integrated with MainNet on Monday, July 22nd. The Asset Gateway enables digital assets to be locked-in and locked-out of the Fusion platform, granting them access to all of Mainnet’s innovative features. Once locked-in, assets enter a fully interoperable ecosystem where they can interact efficiently and without restriction across the Fusion network.
Paxos Standard Token (PAX) will be the first of many tokens made compatible with Fuion’s MainNet. Stable coins are the easiest cryptocurrency to relate to in today’s fiat-driven world. With growing support from both public and private sectors, stablecoins have become a practical medium for peer-to-peer and commercial transactions. An-all-in-one stable coin platform is an important component of Fusion’s vision to build an interoperable ecosystem of economies. Uncover more about stablecoins and their potential on the Fusion network in a previously published article.
FUSION @FUSIONProtocol on Jul 10:
How to start and run your FSN node (FUSION Foundation Community)
Here is a guide on how to quickly start and deploy your node on the FUSION blockchain by following the staking/AWS guide found here.
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. Discussion on PSN, latest news, price, etc.
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.