What is Fuse Network (FUSE)?
FUSE is the native token of Fuse Network, which is an infrastructure for open-source money that strives to be a consumer and business-friendly ecosystem for mainstream adoption of web3 payments. The team is working on bringing a fast, decentralized, and low-cost alternative to existing digital payments, which could be easily integrated into day-to-day payment activities. The Fuse chain acts as a side chain of the Ethereum network.
If you care to see the live FUSE price, check out the Fuse Network price chart above.
The network uses the Delegated Proof-of-Stake consensus mechanism. It is supported by a group of validators who run nodes to validate network transactions. In order to become a validator of the network consensus, the interested organization, company, or user must stake a minimum required amount of FUSE tokens (currently set at 100,000 FUSE). No permission is needed, meaning that the interested subject just needs to fulfill technical requirements. The maximum number of validators on the Fuse Network is set at 100.
It is also possible to delegate one’s token to the validator. A delegator can choose any validator and stake any amount of FUSE with them. A validator receives the FUSE tokens as a reward for staking their tokens and a delegator receives the share of Fuse rewards proportionate to their stake minus the fee paid to their chosen validator. The minimum fee is 15%.
Use Cases of FUSE Tokens
The FUSE token is an ERC-20 token, which means that it can be freely moved between the Ethereum and the Fuse networks using a bridge.
For starters, Fuse Network coins can be used for standard DeFi operations such as lending, farming, or staking.
Another function the token has is governance, meaning that FUSE token holders can take part in governance activities, such as network upgrades or other governance changes. Voting is proportional, i.e. the more tokens a user is holding, the greater their voting power is.
Lastly, FUSE tokens are also used to cover network fees.
Tokenomics of FUSE
The Fuse Network token supply follows a mildly inflationary model. A new block is created every 5 seconds on the Fuse Network, and the validator who creates it (as well as a delegator who staked with them, if any), receives the rewards in newly issued tokens. The reward amount per block is calculated in such a manner, that every year, the FUSE total supply increases by around 5%.
As there is no max supply set and more tokens are created every day, the FUSE price is quite volatile. You can check its current price on the Fuse Network price chart above.
Who Founded Fuse Network?
The Fuse Network crypto project was founded in 2019, by a team led by Mark Smargon. Mark was is of the two co-founders of Fuse and the Chief Executive Officer of the project. He focuses on product development and oversees other areas, such as community, business, and marketing.
If you are thinking about purchasing a Fuse Network token, you can learn about the current FUSE price on the aforementioned chart above.
