Fuse and Voltage Finance enjoys a strong relationship. Voltage Finance is the largest decentralized finance (DeFi) platform on Fuse. Its mission aligns very much with Fuse’s vision of facilitating the mass adoption of decentralized finance and cryptocurrency payments.
Many still claim complicated user experience is a hurdle to entering decentralized finance and adopting cryptocurrencies for payment. In our attempt to alleviate this, we recognize the necessity to network with those focused on building solutions that eliminate those barriers to adoption.
Voltage Finance aims to empower users with tools to connect them to all the capabilities DeFi brings to the world. Its suite comes via a one-stop-shop application and the uniquely streamlined experience that it brings.
Setting the Stage for Success
Following its transition to an independent DAO and successful raise early this year, Voltage Finance has had many significant and positive developments in 2022, helping to position itself to execute many near-term goals.
The platform’s native VOLT token saw its holders expand to over 5,200, over 1,800 of which are staking the token. Voltage also saw the launch of the Stableswap functionality enabling low-slippage inter-stablecoin swaps and a peak daily trading volume of more than $3 million on the platform’s DEX.
On the partnerships front, Voltage Finance has teamed up with several significant projects this year, including Beefy Finance, Infinity Pad, Rango Exchange, and Poolz Finance, among others. It is also working on listing its token on several centralized and decentralized exchanges in the coming months.
Bullishly building when everyone else is bearish
Voltage Finance has good reason to be bullish when considering and building its future. Seeing such great data points across the entire breadth of the ecosystem signals health despite the crypto winter and serves as a great launchpad from which their upcoming product updates will come.
The Volt app — a new era for the ecosystem
The Fuse Cash mobile wallet was developed initially by the Fuse team, being an implementation of our open-source wallet technology targeted at DeFi users. Given that Voltage is the largest DeFi platform on Fuse, the Fuse team decided to transfer Fuse Cash under Voltage’s aegis, and the resulting revamped product will bear the Volt app name.
The idea behind the app is to give users a simplified experience while giving users access to all things Voltage on mobile, including, in particular, a non-custodial wallet, an integrated DEX swapping and liquidity provision functionalities, and an NFT marketplace.
Improved Staking and Governance — veVOLT
Voltage also intends to upgrade its staking platform and streamline the staking process.
Pending DAO approval, Voltage will begin issuing veVOLT tokens to stakers instead of xVOLT. This proposal intends to strengthen stakers genuinely invested in the project for the long term and protect the community from those who aren’t. It will do this by increasing the weight of a wallet’s voice in the governance of the DAO according to the length of time the stakers will be prepared to lock their VOLT up. veVolt will also enable holders to vote on the distribution of farm rewards.
fUSD — V2
In light of the recent events across the stablecoin space, including the collapse of Terra’s UST, Voltage has proposed updating the first Fuse-native stablecoin Fuse Dollar (fUSD) to boost its risk profile.
At present, fUSD is backed by the USDC token issued by Circle. To mitigate the risks arising from the exposure to a single stablecoin issuer, upgrading to fUSD v2 will allow the community to choose a basket of non-algorithmic stablecoins by which fUSD will be backed. Doing this will significantly decrease friction and price impact on trades, especially larger ones. Voltage will craft fUSD v2 so holders can earn fees simply by holding the token.
ZAP — a streamlined liquidity provision experience
Voltage Finance is working on ZAP, its solution for simplifying liquidity provisioning. ZAP will enable users wishing to deposit funds into a pool to do that with just one token instead of acquiring equal amounts of two different tokens.
Fuse and Voltage reshaping finance
We at the Fuse team are excited to see the numerous ways one of the leading DeFi projects in its ecosystem is creating an environment that facilitates the adoption of cryptocurrencies while working to protect the members of its community.
Those interested in learning about the progress and upcoming initiatives within Voltage are encouraged to read Voltage Finance’s own community update and stay informed about all that is happening in the ecosystem.
