Fuse Studio Updates — 07/07/2020

It’s been some time since our last update and we are excited to share new features marking the June update of Fuse Studio! Wizard updates include:

  • Improved usability feature makes token creation and testing a straightforward experience for all user levels.
  • Newly featured stablecoins on Ethereum we allow to easily integrate to your own community.
  • Unveiling plans for the new ‘token swap’ feature that will allow users to exchange tokens using on-chain liquidity.
  • Added new fiat ramps to give you more currency deposit/exchange options worldwide.

Updated Wizard:

As you may remember, the Fuse studio wizard allows users to define a community using a smart contract, which you can use to create the rules and add any plug-ins for adaptable customization. The currently available plugins include:

  • Business list — allows you to add businesses to your community.
  • Join bonus — define the amount of token’s gifted to new community members.
  • Invite bonus — define the amount of token’s gifted to the user’s inviting new community members.
  • Backup bonus — contract of a funder account that rewards your users for backing up their mnemonic.
  • Fiat ramp — deposit/withdraw currency with a new feature integrated through Transak and Instant Ramp giving you more options to handle
    the exchange.
  • Wallet banner link — allows you to insert an image with a link to any webpage which will be shown to all the users of your community.

Since Ethereum fees have grown substantially in the past weeks we improved our Ethereum Ropsten testnet support and it’s now easier than ever to launch your community using the Studio:

As many readers already know, Ropsten Ethereum is a testing network that runs the same protocol as Ethereum does and is used for testing purposes before deploying on the main network, which will essentially allow users to save money on transaction fees and smart contract deployments. Creating your own community token will take only 5–10 minutes for any experience level. Try it out yourself and create your own community today using Metamask or just your Google account! (Using Torus) Learn more about how to test our studio for free on Ropsten.

Stablecoin Feature:

We added a brand new selection of stablecoins that you may find a better fit for your community than other existing tokens on the Ethereum chain. More stablecoins are coming soon.

STATIS EURO (EURS) mirroring the value of the Euro, Digital Rand (DZAR) South Africa’s first digital asset, algorithmically controlled 1:1 to the Rand, and Rupiah Token (IDRT) the most adopted Indonesian rupiah stablecoin are now available in the studio. Some of the most important advantages of stablecoin over other tokens are their comparatively lower price volatility, as they are essentially backed by values of their asset representatives making them perfect for small to medium business communities.

Token Swap Feature:

Another feature which will be launched soon is the new ‘token swap’ function available on the Fuse wallet for testing.

With the new token swap feature, you are able to interchange or ‘swap’ your available tokens right in the Fuse wallet without having to register somewhere else. Some of our communities were requesting this feature and because Fuse is connected to Ethereum using the bridge, it was possible to implement this using the Totle API, a reliable DEX (Decentralized exchange) liquidity aggregator that puts together exchanges and synthetic asset providers into a suite of tools that make it easy to access liquidity. After a few weeks of testing, this feature will be availible for users of the Studio as a plug-in that will allow communities to provide their users with the ability to better access Defi and allow advanced capabilities like exchanging users DAI to cDAI (Interest bearing DAI that’s powered by Compound)

In our upcoming posts, we will breakdown the full process of creating your own community and token using the Fuse Studio. Meanwhile, check our blog to stay tuned! Learn more about the Fuse network here.

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