Decentralized payment platform powered by The Fuse Network Blockchain

Launched in 2019, Fuse is a decentralized payment focused platform whose goal is to enable mass adoption of crypto payments and decentralized finance (DeFi).

What is the security platform?

The Fuse platform has three main components, consisting of the Fuse network blockchain, the mobile-centric open source technology stack, and a set of reference DeFi products and tools.

The current financial systems have not yet given people globally access to fast, frictionless payments, attractive financial services and passive income opportunities.

Fuse, an Ethereum blockchain-based platform, offers a fast and robust plug-and-play mobile-centric crypto payment infrastructure at low cost.

This is particularly relevant for developing countries where hundreds of millions of people lack access to even basic banking services. In addition, they also often have to trade in highly unstable fiat currencies, subject to episodes of sudden deep devaluation.

Leading the way with the rise of blockchain technology and cryptocurrencies, which has created the ability for potentially anyone on the planet to send and receive funds without the permission of any entity.

Fuse provides convenient, mobile-first tools to create and manage token-driven environments, as well as to integrate users into them and enable them to interact.

Making DeFi work

There are two Fuse companies: Fuse Network Limited and Fuse Labs. Fuse Labs is a for-profit company that develops a SaaS product called Fuse Charge, or Charge, which is an API platform that enables the smooth launch of payment-focused applications.

Developers target developers who want to build payment-focused products on the Fuse Network, so developers can sign up, get their API key, and start building with the APIs. Charge will use a freemium model where certain features will be available for free while access to others will be paid according to the number of API calls.

Tokenomics

The FUSE token is the native currency of the Fuse system. FUSE is used to pay transaction fees, voting, staking, lending and borrowing. A total supply of 300 million tokens is distributed as follows:

• ETOP – 8.3% (25M FUSE)
• Early investors and advisors and team – 13.3% (40M SECURITY)
• Mesa + private sale – 13.3% (40M SECURITY)
• Bootstrap Pool – 43.3% (130M FUSE)
• Future Dev Pool – 21.7% (65M SAFE)

As mentioned, as the native currency on the Fuse blockchain, the token is required to pay fees to the network to approve transactions. Token holders can stake Fuse to become a validator with the stake requirement of at least 100K.

In addition, they also have the ability to vote on protocol changes with their staked FUSE, meaning validation token holders with higher amounts of Fuse staked can vote more on network upgrades and governance changes.

Otherwise, any FUSE holder can choose one or more validators to delegate any amount of FUSE they want. They will receive a share of the hedge block reward proportional to the share of their stake in the total stake, after paying the minimum fee of 15% to the validator.

Payments with FUSE do not require interactions with smart contracts. Therefore, FUSE transfers are potentially faster and less costly in terms of transaction fees.

The FUSE token supply is currently set to follow a mildly inflationary model. As a result, with each new block created every 5 seconds on the Fuse Network, the validator that creates it, and the delegators that staked with them, will receive the block rewards in newly issued FUSE tokens. This helps to secure the network’s consensus mechanism.

The main reason for choosing an inflation model at an early stage of development was to ensure some predictability of the revenue flow for network validators and delegators.

In the event that they had to rely solely on transaction fees as a reward for setting FUSE and validating, it would be more difficult for validators and delegators to predict their future returns because transaction activity on the network could fluctuate.

It is easy to see that the relative predictability of validator earnings is an important premise behind the blockchain consensus theory upon which the Fuse consensus mechanism is based.

Not only that, but having significant block rewards also makes it possible to keep transaction fees on the network low, making it easier to use Fuse.

Security network

dApp builders on Fuse can integrate Fuse wallets to abstract complexity, such as the need for users to pay fees or manage private keys. As such, anyone can connect one of the supported wallets like Metamask to Fuse RPC and start interacting with the network.

One of the biggest advantages is the ability for users to quickly have fiat currencies converted to crypto using popular payment methods such as Visa or others. Users can buy fUSD or FUSE on Fuse via exchanges (MEXC) or on ramps (Ramp Network, Xangle).

FuseDollar (fUSD) is a US Dollar-pegged stablecoin minted on the Fuse Network blockchain that was created to make cryptocurrencies and DeFi easy for ordinary people.

In addition, they can also Fuse Cash, a mobile wallet for transactions with crypto assets. Fuse Cash is like some mobile wallets, but instead of enabling users to store, send and receive traditional currencies like USD and EUR, the wallet allows you to do the same with crypto assets and more.

The transactions that users make with the Fuse Cash wallet happen on the decentralized Fuse Network blockchain, but this does not mean that users have to pay network fees to send transactions.

Users don’t have to worry about their public address or the address of the person they’re sending money to, as the team behind Fuse has developed Fuse Cash to make mobile payments easily accessible to communities around the world.

What makes Fuse special?

Fuse aims to make crypto payment services have the global capability that is the same as regular payment platforms like Visa, Paypal or Stripe.

However, while traditional payment platform users have to pay high fees for their transfer requirements, the fees associated with sending transactions on the Fuse Network blockchain are very low, currently below $0.01.

Importantly, this is independent of whether the money transfer is international, whereas, with traditional providers, international transfers can cost up to 3% in fees.

The Fuse Network blockchain has a global reach. As such, there is no country in the world where someone cannot send or receive a transaction on the Fuse Network.

Another benefit of payments powered by Fuse for merchants is that there are no chargebacks as transactions sent on the blockchain are irreversible. This eliminates an important type of cost for sellers.

Since its launch, Fuse has offered enterprises and developers an infrastructure to plug crypto-powered features into their real-world use cases. More than one million monthly users visit Fuse network dApps on DappRadar, the world’s leading dApp analysis and tracking site.

Not only that, but if the dApp performs well, it will receive organic news coverage and social media support from DappRadar.

In addition, climbing through the rankings to a top position will attract more attention to your project.

Final thoughts on Fuse

From a concept, now a reality, the Fuse platform makes mobile payments easily accessible to communities around the world by seeking to reduce the costs, friction and barriers for companies that provide mobile payments.

With Fuse, users can manage transaction networks using simple, easy-to-use tools.

Fuse is also a code-free platform for communities and businesses to build new economic models, leveraging powerful tools and APIs in a low-entry sandbox. To learn more about Fuse, click here!