Fuse Network 2022: A Year in Review

Fuse

December 28, 2022

16 min Read
Fuse Network

With a laser focus on building, real progress is made by Fuse Network in improving digital payments with crypto and getting DeFi into the hands of the masses. 

The digital payments industry is undergoing a massive transformation led by quick technological advancements in blockchain and growing consumer demand for instant, cross-border payments. However, driven by changing customer demands, such as a digital nomad lifestyle, safety, and a need to transact in real-time, traditional banks have only just awakened to the possibilities of blockchain and decentralized finance (DeFi). 

Moreover, the digital payment market is expected to be worth more than 19 trillion dollars by 2026, with smartphones, QR codes, digital wallets, and a growing number of payment apps enabling this growth. However, the current financial systems still need to provide people worldwide access to fast, frictionless payments, attractive financial services, and passive income opportunities.

Fuse offers a fast, robust plug-and-play mobile-centric crypto payments infrastructure at a low-cost utilizing three components: the Fuse blockchain powered by the native FUSE token. The mobile-centric open-source technology stack. Alongside a set of DeFi products and tools that enable fast development of Web3 apps.

The Fuse tech stack underwent considerable development in 2022 alongside the soft launch of Charge, a plug-and-play API store for Web3 payments, wallets, eCommerce, NFTs, and a solution for builders in the Web3 space. These upgrades position the Fuse network as the go-to consumer-friendly blockchain for Web3 payments. 

In 2022, The Fuse team has been aggressive, targeted, and more focused than ever on growing the ecosystem of tooling and integrations available to builders in Web3. At the same time, additional FUSE exchange listings alongside healthy growth in the number of dApps running on Fuse, including several community-centric applications that shake up the traditional payments landscape, put Fuse on the map.


Fuse Network Growth in 2022 

Fuse underwent significant growth throughout 2022. Some key highlights include the following:

  • Users completed more than 94M transactions on Fuse Network in 2022 vs. 14M in 2021
  • Fuse Networks flagship DeFi dApp Voltage generated $42M in volume in 2022
  • 170K contract wallets deployed on Fuse using the Charge infrastructure
  • More than 49% of the FUSE in circulation is locked in staking 
  • Over 50 new ecosystem partnerships and integrations throughout 2022

Fuse Network

Ecosystem Highlights

Fuse Partners With Connext To Boost Interoperability With Major Evm Chains
Connext added Fuse Network to the list of EVM-compatible blockchains it supports.

Fuses Native Fuse Token Is Now Listed On Quickswap
FUSE is listed on QuickSwap, the leading DEX on the Polygon blockchain. 

Fuse’s Native FUSE Token Now Listed on Huobi Global
Huobi Global listed Fuse’s native FUSE token, deposits and withdrawals opened on the Ethereum mainnet, and trading activated on the FUSE/USDT pair.

Fuse’s Road to Scaling Payment Throughput. Part 1
The first installment in the series summarizes the Fuse scaling research conducted by computer science researcher Dr. Israel Gottlieb. 

Fuse Charge Beta Launch — Making Blockchain Payments Easier Than Ever With Simple APIs
Business adoption will be blockchain technology’s most significant mainstream driver. 

Big Changes Proposed For Fuse Network Here’s What You Need To Know
A round of proposed Q3 changes following November 2021’s upgrades introduced 10 Fuse Improvement Proposals (FIPs) to optimize network transactions and data storage.

Easily Query And Analyze Fuse Blockchain Data With Unmarshal Tools
Unmarshal fully indexes the Fuse Network blockchain. The tools available to developers on Fuse include NFT and DeFi APIs, the GraphQL API, the Parser feature for building data dashboards, and the Smart Notification functionality.

Fuse DeFi dApp GoodDollar on DappRadar’s ‘Dapps of 2022’ List 
According to DappRadar’s data, GoodDollar’s overall performance in 2022 is very stable, propelling it into the top ten dapps list by attracting over 30,000 unique active wallets daily.


Bringing Blockchain to the Real World

Projects building on Fuse, like Modulus, shows the potential of a Fuse-powered e-commerce platform to rival Shopify. At the same time, the team behind the food delivery app Peepl wants to go head to head with delivery giants and serve benefits to the local community on Fuse Network. 

Strategic partner Bitazza also brings blockchain into real life, businesses, and events to showcase the power of crypto payments. For example, the team planted a flag in the ground with The Mystic Valley Festival in Thailand by issuing a token, which festival-goers could use to purchase goods. Transactions were fast and cheap; festival attendees could use tokens to buy drinks and merchandise or send funds to friends. 

Fuse firmly believes new blockchain-based Web3 payment rails can enable faster, more efficient real-time payments, transforming businesses and consumers’ everyday lives. Ultimately, in 2023, we expect banks to take strategic steps towards infrastructure changes to ensure they are flexible enough to cope with next-generation, real-time payment types. That’s where Fuse comes in. 

We are already in conversation with leading payment providers and businesses worldwide to find synergies and partnership opportunities to expand the global Web3 payments infrastructure. 

None of Fuse Networks’ achievements would be possible without its steadfast community of token holders, advocates, and users who can look forward to a fully revised Fuse Whitepaper 2.0 in early 2023. Here we will outline plans for the immediate and longer-term future and show how we plan to build a sustainable and thriving future as a Layer-1 blockchain. 

Fuse Network will transform in 2023 and deliver Fuse 2.0, alongside fresh branding, to match our mission of becoming the go-to consumer-friendly blockchain for crypto payments. Additionally, a refreshed roadmap with a strong focus on the current Fuse community and aggressive expansion across all channels. We are set on breaking into the top 50 by Market Cap. 


Strengthening the Ecosystem

American author, rights advocate, and political activist Helen Keller once said, “Alone we can do so little; together we can do so much.” A statement echoed by Fuse as it continues to build an impressive ecosystem of partners and technical integrations throughout 2022 that make building dApps straightforward while providing further benefits for FUSE token holders. 

Fuse Network

With so much happening weekly, staying current can take a lot of work. Below are the most significant developments, integrations, and announcements for Fuse Network in 2022.


January 

Introducing The Ichi Angel Liquidity Vault For The Fuse Token
To create more buy-side pressure on the FUSE token, a liquidity rewards program was launched to incentivize additional deposits of oneFUSE to the angel vault. 

Fuse Partners With Xanpool To Boost User Onboarding In The Asia Pacific Region
XanPool activated fiat on-ramps for FUSE token and the FuseDollar (fUSD) stablecoin. Supported countries can already purchase FUSE and fUSD on the XanPool website.

Fuse Partners With Connext To Boost Interoperability With Major Evm Chains
Connext added Fuse Network to the list of EVM-compatible blockchains it supports, including Ethereum, BSC, Polygon, Fantom, and Avalanche. 

Fuse Partners With Beefy Finance To Improve DeFi Yields For Users
The Beefy Finance protocol deployed on the Fuse Network blockchain with several Beefy vaults created, and their combined value locked (TVL)quickly reached $3 million in assets.

Rebrand Fusefi Becomes Voltage Finance
A rebrand and name change to complement the launch of the native VOLT token took place in early 2022. In 2023 a fresh Volt App will arrive to a waiting list of more than 15,000 users. 

Fusedollar Deposits Via Ramp Network Now Available For Users In The United States
The Ramp Network integration allows users to deposit FuseDollar directly to their accounts on Fuse Network using their bank accounts. This possibility is now also open for users in the US.


February 

Mexc Global Becomes The First Centralized Exchange To Support Fuse Network Natively
MEXC Global integrated the Fuse Network RPC to enable users to make FUSE deposits and withdrawals directly from MEXC Global on Fuse Network.

Multichain Portfolio Tracker 0xtracker Now Supports Fuse Network
Multichain portfolio tracker 0xTracker added support for Fuse Network. This enables users to track positions across all DeFi protocols on Fuse, free of charge, all in one place.

Fuse Partners With Openleverage To Enable Leveraged Fuse Trading On Pancakeswap 
OpenLeverage created a lending pool and enabled margin trading for the FUSE/WBNB pool on PancakeSwap. Fuse and OpenLeverage provided the initial liquidity for the lending pool. 


March 

Fuses Native Fuse Token Is Now Listed On Quickswap
FUSE is listed on the QuickSwap DEX on the Polygon blockchain. Trading started on the FUSE/WETH pool, and a Syrup farm was launched to incentivize liquidity provision with $100,000 in FUSE offered as rewards.

Fuse Is Now Listed On Ascendex
FUSE becomes available for trading on AscendEX. In addition, FUSE deposits and withdrawals are available on BNB Chain (previously Binance Smart Chain). 

Fuse Participates As Research Partner For Cointelegraphs Future Of Defi Report
Fuse is proud to be Cointelegraph’s research partner for a seminal report devoted to the future of DeFi alongside names in the industry, such as Brave, CasperLabs, and Bitpanda. 

Popular Multichain Wallet Bitkeep Now Supports Fuse
BitKeep received an ecosystem development grant from FuseDAO to add the Fuse RPC module. As a result, it fully supports Fuse and the decentralized applications running on it.

Debank DeFi Portfolio Dashboard Now Supports Fuse Network
DeBank added support for Fuse Network through its desktop portfolio manager so users can instantly start managing DeFi positions across decentralized finance platforms on Fuse.


April 

Fuse’s Native FUSE Token Now Listed on Huobi Global
Huobi Global listed Fuse’s native FUSE token, deposits and withdrawals opened on the Ethereum mainnet, and trading activated on the FUSE/USDT pair.

DeFi Monitoring Platform DEXTools Adds More Fuse Network Support
Leading DeFi monitoring platform DEXTools now fully supports Fuse Network. The complete integration between DEXTools and Fuse makes it more convenient to trade using DEXs on Fuse Network.


May 

Fuse’s Road to Scaling Payment Throughput. Part 1
The first installment in the series summarizes the Fuse scaling research conducted by computer science researcher Dr. Israel Gottlieb.

Fuse Partners with Angle to Bring the agEUR Stablecoin to the Ecosystem
Angle’s agEUR stablecoin has been bridged from Ethereum to Fuse Network via the Multichain interoperability protocol. It has also been listed on the Voltage DEX, and trading has been activated on the FUSE / agEUR pool.

Leading DEX and Bridge Aggregator Rango Exchange Now Supports Fuse Network
Rango Exchange has extended support to the Fuse Network blockchain. Its DEX and bridge aggregators now cover the Voltage Finance DEX and the transfers to and from Fuse Network via Multichain.


June 

Social Account dApp Logins and Convenient Decentralized Storage Arrive to Fuse with Arcana Integration
Arcana’s tech stack is now available for projects in the Fuse ecosystem wishing to onboard users with social logins, create wallets and incorporate decentralized data storage and access management into their applications.

Fuse Charge Beta Launch — Making Blockchain Payments Easier Than Ever With Simple APIs
Business adoption will be blockchain technology’s most significant mainstream driver. Today, we take a giant leap forward in making business adoption more accessible than ever.


July 

Big Changes Proposed For Fuse Network Here’s What You Need To Know
A round of proposed Q3 changes following November 2021’s upgrades introduced 10 Fuse Improvement Proposals (FIPs) to optimize network transactions and data storage.

Fuse Network Q2 dApp Ecosystem Report
The Fuse dApp ecosystem underwent impressive growth as builders continued to choose Fuse Network as the most suitable smart contract platform on which to launch Web3 apps.


August 

Fuse Integrates Leading Cross-Chain Router Via Exchange
Via Exchange added support for the Fuse Network blockchain, making asset swap options available to Fuse users by 70 DEXs on 25 blockchains connected by 25 bridge platforms.

Launch of Fuse Meets Podcast Series 
Showcasing partners from the Fuse Network ecosystem, the Fuse meets podcast lets the community meet the people behind the protocols and ask those difficult questions. 


September 

Crypto Exchange Aggregator Swapzone Lists Fuse
Swapzone listed FUSE for swaps on the Ethereum mainnet. Users can purchase or sell FUSE on Ethereum via one exchange.

Chromepay Combines Decentralized Identity And Payments On Fuse To Advance Financial Inclusion In Ethiopia And Beyond
Fuse gives a grant to ChromePay to deploy its decentralized identification (D-ID) solution on the Fuse Network blockchain and the ChromePay and Fuse wallet technology.

Easily Query And Analyze Fuse Blockchain Data With Unmarshal Tools
Unmarshal fully indexes the Fuse Network blockchain. The tools available to developers on Fuse include NFT and DeFi APIs, the GraphQL API, the Parser feature for building data dashboards, and the Smart Notification functionality.


October 

Multichain DeFi Platform Icecreamswap Launches On Fuse 
IceCreamSwap integrated the Fuse Network blockchain by deploying its DEX, multichain bridge, and liquidity provisioning platform to the network. 

Native Blog Launch
After three years of writing and sharing content on Medium, we decided to take things in-house and create a native blog. 

Launch of the Fuse Academy 
Alongside launching a native blog on fuse.io, Fuse Acadamy creates content for beginners in the blockchain space looking to get answers to the most fundamental questions.  


November 

Asia Focused Onramp Transfi Supports Fuse
TransFi added support for the Fuse Network blockchain on its on-ramp tool. The supported assets on Fuse are the Fuse-native FUSE token and the US Dollar-pegged USDC stablecoin. 

Fuse Token Now Listed On Bitazza
Bitazza listed the Fuse token (FUSE) on its global centralized cryptocurrency exchange Bitazza Global, with deposits and withdrawals available natively on the Fuse blockchain.


December 

Obtain Fuse And USDC On Fuse Via Transak
Transak added support for the Fuse Network on its on-ramp. Users can purchase Fuse’s native FUSE token and the USD Circle (USDC) stablecoin on Fuse Network from their bank accounts.

Jump Start Fuse dApp Development With Flair
Flair added Fuse Network to the list of significant public layer 1 and 2 blockchains it supports, including Ethereum, Polygon, BNB Chain, Fantom, Avalanche C-chain, Arbitrum, and Optimism.

Fuse DeFi dApp GoodDollar on DappRadar’s ‘Dapps of 2022’ List 
According to DappRadar’s data, GoodDollar’s overall performance in 2022 is extremely stable, propelling it into the top ten dapps list by attracting over 30,000 unique active wallets daily.


The Road Ahead 

After an incredible 2022, momentum is imperative as we enter a critical time for Web3 payments, cryptocurrencies, and blockchain technology. The start of 2023 will be exciting for the Fuse community as we roll out Fuse 2.0 alongside a new roadmap, whitepaper, and fresh branding. 

Our ultimate vision over the next few years is to have more than one billion active users on Fuse Network, taking advantage of a diverse range of applications, including personal finance, Web3 payments, sharing economy, events, hospitality, eCommerce, DeFi, and NFTs. With funding in place and a growing team of international specialists, the Fuse value proposition evolves. 

To get there, we focus on critical areas to boost Fuse Networks’ value proposal and appeal: 

  • Bridging and On-Ramping: Our goal is to add interoperability with all L1s and L2s and provide the best bridging experience, especially on mobile; Fuse dollar is available in 180+ countries, including bank deposits in the US, Europe, and 11 Asian countries; Focus on adding South American, African fiat ramps in 2022.
  • FuseX stablecoins: We have seen a recent surge in demand for our network stablecoin, Fuse Dollar (fUSD). We are working hard on releasing V2, which will introduce new mechanics that will make it even more helpful and allow the community to access it more efficiently.
  • Fuse Charge: A complete Fuse Studio revamp is planned for 2023 after a soft launch in 2022. Charge will focus on making it easier to build Web3 apps using an app store of tools and services. 
  • E-commerce and NFT: We saw several NFT marketplaces launch in 2022 with games, wallets, and tools deployed on Fuse and showing great demand. As part of Charge launch, eCommerce support will be a big focus for 2023, allowing access to online tools for merchants and strong NFT support, enabling users to mint and sell online without friction and high fees.
  • DeFi in your pocket: Voltage Finance and the new Volt App are almost ready to launch and enable a vibrant ecosystem for all things DeFi. 
  • Scalability: On top of increasing chain capacity, which will grow by 100% in 2022, Fuse is also working on an L2 roll-up that will be integrated into mobile and deployed during 2022 to scale consumer payments.
  • Mobile upgrades: The Fuse wallet stack will add extensive features like social recovery, NFT support, L2, and Scaling. Our objective is to build the best wallet stack for any business that builds on a blockchain and reaches customers without the friction of existing non-custodial wallets.


Final Words

2022 leaves us in a bear market, but Web3 developers and entrepreneurs are still going. As developers continue to build, Fuse will provide more effective tools to help.

Fuse kicks off 2023 with a fresh look and intense focus to become the go-to consumer-friendly blockchain for crypto payments. Alongside aggressive marketing and business development ramping up to complement the vision, further network data and user activity streams will become available for the community to monitor Fuse Network growth in real-time. 

Thank you all for joining us on the journey so far and participating in the future of blockchain technology and Web3 payment solutions. We look forward to delivering Fuse 2.0 and a refreshed roadmap in early 2023 and gathering the community’s feedback. 

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