Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge. When he's not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
As the Fuse Ecosystem Round approaches, here are all the important developments that members of the community should take note of.
The Fuse Ecosystem Round is scheduled to take place on Tuesday, March 8th, and provides the opportunity to swap Fuse tokens for Volt tokens. However, this feature will only reportedly last no longer than 24 hours – or until the total purchase of all available tokens. In light of this, Fuse is now urging participants to obtain $VOLT, the network’s inaugural governance token. Participants should obtain tokens before the upcoming Token Generation Event on March 10th.
According to a blogpost, all Fuse tokens accrued during the Fuse Ecosystem Round will either be burned or used for liquidity. The liquidity will most likely be for the $FUSE / $VOLT pair on the decentralized exchange (DEX). Furthermore, Volt tokens allocated to the round will end up burned if they remain unsold.
Taking part in the Fuse Ecosystem Round is easy and straightforward. Fuse Token Holders can simply visit voltage.finance. There, they will need to connect their MetaMask wallets set to the Fuse Network. Afterward, users will scroll down to “Fuse Ecosystem Round” and select one of four different pricing options based on their preferred vesting schedule. After entering the desired amount of VOLT alongside the desired price, the platform will calculate the commensurate amount of tokens. The purchase then becomes complete after the user clicks ‘purchase’ and confirms the transaction in MetaMask. Furthermore, users will be able to make multiple purchases by choosing different prices.
Created as FuseSwap back in November 2020, Voltage Finance was the first decentralized exchange on the Fuse network. However, it has since evolved into a complete decentralized finance (DeFi) platform. In fact, according to DeFi TVL aggregator DeFi Llama, Voltage Finance is the largest protocol on Fuse in terms of total value locked.
Available on the Android and iOS operating systems, Fuse Cash debuted as a streamlined user interface featuring a range of offerings for users. These included a more interactive activity feed, a WalletConnect upgrade, and a yield earning program for fUSD holders. Meanwhile, Fuse Dollar (fUSD) is a 1–1, USDC-backed stable coin that strengthens the Fuse ecosystem. It achieves this by providing a highly-sought, seamless medium of exchange for the payment communities built on the network.
So far, Voltage Finance has generated as much as $3.4 million in private funding, backed by a slew of highly influential venture capitals (VC). These include Spark Capital, TRGC, Collider Ventures, Genesis Block Ventures, Tectona, Exnetwork Capital, Blockchain Founders Fund, Node Capital, Sheesha Finance, and LVT Capital. There were also several other participating investors, such as MVST:MG, AngelDAO, ZBS Capital, MetaVest Capital, Alpha Sigma Capital, and Shima Capital.
Voltage Finance followed up its fundraising initiative with successful initial DEX offerings on Infinity Pad and Poolz Finance. According to Mark Smargon, CEO at Fuse Labs, in a blog post released earlier this year, Fuse wants to spearhead “how people will interact with money on mobile” in 2022.