We are delighted to announce Fuse Ignite, a new funding program with a budget of over $10 million to stimulate growth and innovation in multiple areas of the Fuse ecosystem over the next innovation cycle. The program is structured around two main areas: liquidity incentives and developer grants.
The launch of Fuse Ignite coincides with the upcoming deployment of a launchpad on Voltage Finance, which aims to be the go-to solution for new tokens looking to join the Fuse ecosystem. The platform will enable users to participate in ecosystem growth by staking their VOLT tokens and engaging in various phases of the token launch.
Fuse’s North Star
Fuse’s ultimate goal is to unshackle businesses from antiquated, pre-internet technology. The company aims to achieve this by investing in teams and projects that align with Fuse’s mission, projects and technologies that the community can get behind and interact with, and projects that will solve a basic necessity or add economic value to the ecosystem.
Two Funding Programs
The Ignite program comprises two main funding programs. The first is an on-chain DeFi incentives fund of $10 million, designed to increase TVL and the total number of token holders on bridged chains, as well as increase the total number of stakers on Fuse and the number of active validators.
The second program is a grant fund of $2.5 million, which coincides with the deployment of a launchpad on Fuse. The company will provide grants of around $25K to approximately ten projects throughout the rest of 2023, with a focus on real-world operators.
In short, the Fuse Ignite program is set up to accommodate two groups of builders, those looking to build DeFi and Web3 payment applications and companies that want to leverage their software to build a SaaS business model on Fuse and become the decentralized middle layer that facilitates business operations.
A liquidity program for DeFi projects will provide on-chain incentives to support the project’s growth and expansion. In contrast, the grants program is for innovative real-world projects that leverage Web3 payments for mainstream business adoption.
Web3 Payments
As part of our ongoing mission to bring Web3 payments to mainstream business adoption, we are dedicated to supporting both real-world and DeFi projects. A thriving financial ecosystem on Fuse provides the support needed for businesses to play an empowering role in the ongoing paradigm shift in money. If successful, your team will receive:
- Financial support to kickstart your project.
- Technical assistance and resources from our team of experts.
- Increased exposure and visibility within the Fuse ecosystem.
- Potential partnerships and collaborations with other projects and businesses in the ecosystem.
- Be part of an ecosystem focused on practical and sustainable applications of Web3.
Growth goals
Fuse has seen strong growth, with its market cap peaking at nearly $300 million and TVL growing to $40 million. Over 100 Web3 projects, including infrastructure to DeFi and NFTs, joined the Fuse ecosystem. The project has facilitated over 120 million transactions, generating 1.35 million wallets.
In 2023, Fuse prioritizes reigniting the community and increasing stakeholder engagement. This will bolster the ecosystem, making it more vital than ever and providing the right environment for a new, large influx of enthusiasts that increase the economic value of Fuse and its underlying asset and champion Fuse’s mission of bringing mainstream business adoption.
Fuse Network is well-positioned to capitalize on the growing interest in cryptocurrency and the Web3 ecosystem. With a strong team and a focus on innovation and user experience, Fuse is likely to continue its growth trajectory and play a significant role in the future of finance.
For more information and to apply for the new incentives program, please visit https://www.fuse.io/ignite.
