After more than a year working on building the Fuse network, we are excited to move governance over to the hands of the community and create the widest and fairest distribution we possibly can. Fuse’s first public token release ended Saturday 24th October with approximately 18% of the allocated 10 million FUSE tokens being bought during the 48-hour event. This is less than we expected but was due, in part, to issues experienced by our community on Mesa DEX meaning that transactions were not able to go through for the first hour or so and then again for around 10 hours mid-event.
We appreciate the support provided by the team at Mesa during the event and are overall satisfied with the progress made to release liquidity to our growing community through both the private and public token allocations. DEX technologies are truly cutting-edge, with glitches to sometimes be expected due to their experimental nature. As previously stated, we have now burned the remaining tokens from the public release. The transaction can be found here.
Over the past few months, Fuse has onboarded best-in-space stakeholders and partners. We see this event as a starting point in a series of events with the goal of building momentum for the network and a healthy stakeholder ecosystem along with sustainable and growing trading volume.
Beginning next week, all FUSE token holders will be able to start staking through dPOS (delegated Proof of Stake). FIPs 8 the network proposal to increase both the staking amount and block rewards, is currently being voted on and will continue for the next four days. Activation will then take another two days meaning that we are targeting Monday 2nd November for the official launch! Please stay tuned for confirmation and further instructions on how to stake.
Uniswap Liquidity Provider Rewards.
At 3 pm GMT on Saturday 24th October, immediately after the Mesa event ended, we announced the launch of Fuse LP Rewards in beta.
The protocol was developed in order to provide increased liquidity to Uniswap on the FUSE/ETH pair. The launch has so far been successful with no technical problems encountered. Over $200,0000 of liquidity has now been provided on Uniswap!
This initial 14-day program is just the beginning of many similar initiatives to come that are designed to bootstrap liquidity and provide support for other network and ecosystem growth-related undertakings.
Kyber Network Listing
As announced last week, our AMA in collaboration with Kyber Swap will take place today, Tuesday 27th October at 1 pm GMT, on our Telegram channel. This AMA coincides with the official launch of FUSE on Kyber Network!
FUSE will be one of around only 80 tokens listed on Kyber Network, making it accessible through KyberSwap and other DApps and platforms that are powered by Kyber’s on-chain liquidity protocol.
Kyber’s on-chain liquidity protocol allows decentralized token swaps to be integrated into any application, enabling value exchange to be performed seamlessly between all parties in the ecosystem. Using this protocol, developers can build innovative payment flows and applications, including instant token swap services like KyberSwap, ERC20 payments, and financial DApps — helping to build a world where any token is usable anywhere.
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Thanks to Mark Smargon
