The network’s utility token is the Fuse Token (FUSE) - an ERC-20 token with several utilities within the ecosystem, including:
Payments: As FUSE is the native currency on Fuse Network, sending it does not require interactions with smart contracts. Thus, FUSE transfers are potentially faster and less costly regarding transaction fees.
Transaction fees: Being the native currency on the Fuse Network blockchain, users must pay fees in FUSE to approve transactions.
Validation: Token holders can stake FUSE to become a validator. The minimal staking requirement is 100K FUSE. While the network is continuously growing, there are currently 60+ validators.
Voting: Validators vote on protocol changes with their staked FUSE and with the tokens delegated to them by stakers. This means validators with higher amounts of Fuse staked can have a more significant vote on network upgrades and governance changes.
Staking: FUSE holders can choose one or more validators to delegate and stake their tokens. They receive a share of the Fuse block rewards proportionate to the share of their stake in the total stake, minus the minimum 15% fee paid to the validator(s).
The team proposed changes to the tokenomics of the Fuse Network in early 2023 through FRC002. Most importantly, it outlines the importance of transitioning FUSE to a deflationary model, fee burning, and setting a maximum supply for the FUSE tokens.
In August 2024 - these changes are expected to be implemented on the consensus level.
Where to buy Fuse Token?
FUSE is available on several centralized (CEX) and decentralized DEX exchanges.
|Uniswap V3 FUSE/ETH Ethereum
|PancakeSwap V3 (BSC)
More information about FUSE trading volumes and prices on various exchanges can be found on the FUSE token CoinMarketCap page.
Yield Farming Fuse Token
Currently, the project team occasionally uses the FUSE token to power liquidity rewards (yield farming) programs to boost liquidity on DEXes and participation in the Fuse Lending Network.
The ongoing liquidity rewards programs on DEXes can be discovered here.