Fusion: P-FSN Genesis Block Balances, Fusion wallet features, Staking, “Lottery” tickets and Earning opportunities beyond mining on Fusion’s PSN
Biweekly update 4th December-18th December
- Fusion has reached block 6,868,000 on the Ethereum Network and a snapshot has been taken that will serve as the genesis block for the FUSION Payable Stage Network.
Early adopters who have secured P-FSN will be the first users to test, stake and earn on FUSION’s first live network.
- P-FSN Genesis Block Balances: Check out your P-FSN balance in the attached Excel spreadsheet.
- The New Fusion PSN Wallet is Packed with Functionality Never Seen Before, Including The Revolutionary Quantum Swap: The New Open-Source Fusion Wallet Sets the Standard for the Future of Cryptowallet Tech and Functionality.
This article explores the Fusion Wallet features including the revolutionary Quantum Swap function.
The Fusion wallet is the central place for users to execute P-FSN token transfers, time-lock assets for loaning, swap assets using quantum swap, buy tickets for staking and more.
For the purpose of PSN, Fusion adapted the My Ether Wallet (MEW) interface, a trusted, open-source wallet as the basis for the Fusion Wallet. The wallet selection was based on MEW’s open-source code, security parameters, and reputation. By amending the original code and adding additional commits, Fusion satisfied the requirements for PSN usability while maintaining a high level of security. The Fusion Wallet parallels MEW in security, common functionalities, plus look and feel. The purpose of using a trusted and familiar wallet like MEW is to give users the confidence that their digital assets are secure and limit the learning curve with a familiar interface.
For technically inclined community members, the open-source code will be made available. Users can dive into the Fusion Wallet code and explore the ingenious ways Fusion adapted MEW’s source code including the extra functionality: time-lock, quantum swap, staking, and more.
Following the release of Part Two of our PSN 101 series which focused on staking and earning rewards on Fusion’s Payable Stage Network, this article addresses the process for validating blocks, the ticketing system and the auto buy ticketing process for Fusion’s PSN. This article is split into two sections, Section A provides background on consensus algorithms to assist in explaining Section B which addresses the concepts of ticketing and lottery.
- Opportunity Grows Beyond Mining: Innovators Rewarded on The Fusion Payable Staged Network: Fusion introduces new blockchain protocol technology expanding earning opportunities beyond mining.
With the goal of including more members in the blockchain ecosystem to share in the reward system which will in turn incentivize innovation, Fusion has introduced two new functions embedded in the Fusion Protocol: Time-Lock and Quantum Swap. Both functions will be operational on the Fusion Payable Staged Network (PSN).
Time-Lock: holders of assets can split the ownership of the assets into any time slice. The asset holder maintains the rights to the underlying asset and can set the time for the duration that a counter-party can use the asset. The asset holder can monetize the time slices, creating a win-win situation for both parties. In other words, holders of P-FSN, Fusion’s test token in PSN, can lend their tokens in exchange for a return, plus retain the long-term benefits of holding their P-FSN. The party borrowing the time-locked asset now has access to assets without having to buy the tokens outright.
Quantum Swap: A revolutionary technology breakthrough, users can natively swap one token for another from the Fusion Wallet without having to go through external exchanges, using two-step atomic swaps, or smart contracts. On the PSN, users will be able to swap P-FSN with FSN within their wallet or the extended web3 interface.
By combining Time-Lock with Quantum Swap, holders of P-FSN who don’t want to run a node can time-lock their P-FSN for a period of time (for example, 1 month) and swap the time-locked P-FSN with another user who wants to run a node via quantum swap for ERC-20 FSN Tokens. At the same time, the counter-party is able to increase their stake in the network and therefore realise greater returns, this also leads to a more stable and secure blockchain ecosystem, benefiting all members of the network. The actual swap ratio will be determined by the market forces created between miners and holders, just as values are discovered in a free economy.
Inclusive Ways to Earn on the PSN Use Case Walk-Throughs: To provide a better understanding of the economics, below are walk-through examples of two use-cases showing how a user who holds 500 ERC-20 FSN tokens can earn rewards on PSN.
The following three assumptions will be used to define the market:
- In the first month of PSN’s online launch, there are on average 2,500 tickets being bought and competing to be selected to pack the next block on PSN.
- The average Quantum Swap exchange rate for one thirty-day (0, 30 days) time-locked P-FSN is 0.1 ERC-20 FSN. Therefore 10 P-FSN = 1 ERC-20 FSN
- FSN token price is $0.70.
- CASE ONE — Token holder wants to participate in mining.
- CASE TWO — Token holder does not want to participate in mining.
How to Get Involved, Test, Earn and Learn on the Fusion PSN, Plus Additional Information:
Reddit — FUSION Community PSN Questions Answered By Joey Kheireddine: After latest articles on the Payable Staged Network (PSN), the FUSION community were left with some questions. Joey Kheireddine, FUSION’s Blockchain System Architect and Community Developer took the time to collate the questions and offer some answers to help clarify some points of confusion.
Fusion past events:
- 27 Nov — Blockchain Summit Dubai 2018
- 1 Jul — Chainers 2018 Summit in Seoul
- 29 Jun — Meetup in Amsterdam
- 27 Jun — Meetup in London
- 14 Jun — Ethfinex Exchange Listing
- 31 May — Tesnet Release
- 16 Mar — AMA on Reddit
- 15 Mar — Design Contest Submission Deadline
- 11 Mar — SXSW Conference in Austin
- 22 Feb — Cobinhood Exchange Listing
P-FSN Genesis Block Balances: Check out your P-FSN balance in the attached Excel spreadsheet. Search (Command+F) for your public address, the corresponding number represents the quantity of P-FSN tokens that will be available to you in your Fusion PSN wallet.
From Telegram group: Rudy (@RkadSG, admin): “No roadmap available yet, we are progressing with stagenet approximately December 10th, then will launch mainnet according to the testing progress”.
Partnerships and team members
- “Over the next few weeks, Fusion will be releasing more detailed information on the reward economics, staking, ways to earn on the PSN, the bug bounty program, features, functionality and more. The Fusion team is focused on tech delivery and moving quickly to release information on what we believe is going to be the project to watch in 2019”. Source: @fusionprotocol.
- Yona Takac (Communications and Community Manager at FUSION) on December 11, 2018 in Official Fusion Announcement Telegram channel:
“… The actual network launch, PSN Wallet release, Block Explorer release etc will follow in the month December.”
Social media metrics
Twitter — Average number of retweets is 30–60 for one post.
FUSION Community Twitter — since 19th October 2018.
Facebook (till May 2018) — announcements, 10–15 likes, 1–2 shares.
Bitcointalk.org — since January 20, 2018. Last post — on December 11, 2018: latest news, price, etc.
Fusion forum. Popular topics:
- [Guide] Setting up the TestNet on Linux (Ubuntu 16.04)
- Supreme Node, a little digging and some math
- Hi everyone and welcome!
- Price Prediction EOY
- Guardian of the Fusion temple
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.