PRESS RELEASE: Fuse Network Celebrates Four Years of Innovation & Growth with Exclusive Giveaways & Unmissable Events

[Tel Aviv, Israel, 09.08.23] – Fuse Network, a pioneering force in the blockchain and decentralized finance (DeFi) domain, is delighted to mark its fourth anniversary with exclusive giveaways and events throughout August.

Over the past four years, Fuse Network has firmly established itself as a leading player in the blockchain and Web3 payments industry. It provides end-to-end accessible and scalable solutions to businesses and developers. Since its inception in 2019, the company’s core vision of fostering financial inclusivity and democratizing access to decentralized financial services has driven its remarkable success.

During this period, Fuse has experienced significant expansion, with its market capitalization reaching nearly $300 million and Total Value Locked (TVL) surging to $40 million. The Fuse ecosystem has been enriched by adding over 100 Web3 projects, including crucial elements like DeFi infrastructure and NFTs. The project has facilitated over 130 million transactions, creating over 1.4 million wallets.

At the core of Fuse’s success is its Layer-1 EVM-compatible blockchain, strategically positioned to harness the rising interest in cryptocurrency and the Web3 ecosystem. It is bolstered by a middle-ware layer offering relay services and gas sponsoring, allowing merchants and end-users to benefit from gasless transactions. Fuse is poised to continue its growth trajectory and play a pivotal role in shaping the future of the financial landscape.

Fuse will host promotional airdrops, giveaways, and competitions throughout August for its fourth-anniversary celebrations. Moreover, the network’s robust ecosystem of partners will offer additional special offers, creating an exciting and engaging experience for all participants. To learn more and get involved, please visit the dedicated anniversary site.

2019-2023 Milestones and Achievements:

Mainnet Launch: In 2019, Fuse Network successfully launched its mainnet, marking a significant milestone in the platform’s journey. This event opened up new opportunities for developers and businesses seeking to build decentralized applications (dApps) on an efficient, cost-effective, and user-friendly network.

Pioneering Account Abstraction: Fuse has pioneered implementing Account Abstraction (AA) since 2019, based on Argent smart contracts. As of 2023, Fuse is testing and implementing the migration to the ERC-4337 standard, replacing its relayer with a bundler and paymaster, and introducing a new relaying entity, Power Validators.

Community Growth: The Fuse Network community has grown exponentially from the outset. Today, it boasts a vibrant ecosystem of developers, entrepreneurs, investors, validators, token holders, integrators, and users, all united by the shared vision of creating a more inclusive financial landscape.

Partnership Ecosystem: Fuse Network has established strategic partnerships with various industry leaders, such as LayerZero, Google Could, and Nethermind, enabling seamless integration of DeFi applications and expanding the platform’s utility. These partnerships have paved the way for exciting collaborations and innovative real-world adoption projects.

Fuse SDK and API: offer companies comprehensive tools to seamlessly integrate Web3 services and crypto payments into their client applications. This product simplifies upgrading apps and cuts down development expenses. Additionally, the Mobile Stack empowers businesses to build mobile-first applications for iOS and Android platforms, facilitating the creation of Web3-enabled apps through the Fuse network or integrating the Fuse Flutter SDK into existing applications easily.

User Adoption: The network’s user-centric approach has resonated with individuals worldwide, significantly increasing user adoption across various dApps on the Fuse platform.

Transparent Governance: Fuse Network has been committed to fostering a transparent and community-driven governance model. The platform’s decentralized governance gives participants a voice in shaping the network’s future. In 2023, Fuse introduced the Fuse Request for Comments (FRC), where anyone can make suggestions concerning tokenomics, updates, and other proposals, to complement the Fuse FIP (Fuse Improvement Proposals).

Founder and CEO Mark Smargon expressed his enthusiasm for the company’s journey and the exciting prospects ahead: “The financial landscape has changed so much since we started our journey democratizing payments. We’re investing in our team and infrastructure as the imminent introduction of new digital assets and awareness of digital identification, payments, and ownership grows significantly.”

Looking Ahead:

As Fuse Network looks to the future, it is committed to continuing its mission of driving financial inclusivity and innovation. The company envisions several key initiatives:

Enhanced Scalability & Security: Fuse Network will improve its scalability further to accommodate a growing user base and ensure seamless experiences for all participants. At the same time, Fuse will prioritize the sustainability and security of its platform, implementing robust security measures as well as more robust and decentralized middleware and engaging in responsible practices.

DeFi Innovation: The company will continue to foster DeFi innovation, encouraging developers to build cutting-edge applications that address real-world challenges and empower users. In May 2023, Fuse launched the Ignite Program – a $10M fund dedicated to empowering real-world & DeFi builders to advance business adoption of Web3 payments. The program has succeeded, already awarding several grants to leading global projects.

Fuse Tokenomics Transition: The team has been engaging with community members to design the best models for transitioning the Fuse Network from an inflationary to a deflationary model. The recent Fuse Request for Comments (FRC-2) suggested the introduction of a Max FUSE Supply of 400 million FUSE, gradually reducing inflation and initiating a base fee burn (FIP-1559). This proposal enjoyed comprehensive support and will be implemented shortly.

Operators: Fuse has been directing its efforts toward Operators, refining our marketing and sales strategies, and managing these relationships effectively. Our recent success stories include partnerships with Peepl, Bitazza, and Chromepay, a new US-based Operator, Zneakrz, and a recent Kenyan Fintech, Sanduk.

Technical Integrations and Partnerships: Collaborations with SupraOracles, Etherspot, LayerZero, Ironblocks, OnFinality, and Blockspaces, and migrating to Nethermind ensure Fuse is best positioned to offer developers and businesses the solutions they need.

Fuse’s Impact on the Industry: The team has been active in local and global events, starting with ETH TLV in February and having a substantial presence at ETH Paris in July. At the same time, Fuse discussed regulatory implications of privacy technologies and CBDC with central banks, lectured at the leading educational institutions on Web3 payments, attended CryptoVerse in Ukraine, mentored and judged the Blockchain Hackathons, and hosted foreign delegations of bankers and fintech companies interested in Fuse’s blockchain-for-business solutions. Notably, Fuse was recently selected to present at a first-of-its-kind event – Google Web3 Community.

Global Expansion & Education: Fuse Network plans to expand its global reach, tapping into new markets and forming strategic partnerships to support its growth and adoption. To promote the adoption of blockchain and DeFi, Fuse Network will invest in educational initiatives such as the Fuse University, helping individuals and businesses understand the benefits and potential of decentralized finance and Web3 payments.

As Fuse Network enters its fifth year, it is poised to continue its journey of innovation and growth, pushing the boundaries of financial inclusivity and driving the adoption of Web3 payments worldwide. With an unwavering commitment to its core values and a robust ecosystem of partners and supporters, Fuse is well-positioned to shape the future of decentralized finance.

About Fuse Network:

Fuse Network is an EVM-compatible, Layer-1 decentralized public blockchain founded in 2019, dedicated to enabling seamless and affordable crypto payments in daily life. Lightning-fast transactions, with confirmations in just five seconds at an average cost of less than a cent, set it apart as an ideal solution for the modern financial ecosystem.

Versatile in its applications, the network supports various projects in DeFi, NFTs, and gaming sectors, driving mainstream adoption of Web3 payments. In addition, with Fuse Labs’ blockchain payments API platform and middleware launch, businesses and developers can access advanced payment capabilities beyond traditional banking systems, further revolutionizing the financial landscape.