Layer 1 blockchain Fuse announced on May 3 that it will commit $10 million to “reinvigorate the Fuse ecosystem and drive growth in multiple areas.” Dubbed “Fuse Ignite,” the program is structured between liquidity incentives and grants. As the developers say: “ Teams can apply for grants ranging from $5,000 to $25,000, depending on the focus of their project or service. DeFi projects deploying on the Fuse Network can apply for incentives aimed at increasing liquidity and general user activity.”
Fuse Ignite Operator Grants will be issued in Fuse Tokens (FUSE) and USD Tokens upon application approval USDC. Carriers use the Fuse Network blockchain and other tools to support payment services. A portion of the $10 million budget is also allocated to adoption rewards and community airdrops. To participate, users must hold and stake a minimum balance of Fuse, provide liquidity to supported projects, bridge assets, and conduct transactions on a regular basis. The launch of Fuse Ignite also coincides with the upcoming deployment of Launchpad on Voltage Finance, Which aims to be the solution of choice for new tokens looking to join the Fuse ecosystem.
Fuse reached a peak market cap of nearly $300 million last year, and its total value locked grew to $40 million. Since its inception in 2019, the project claims to have facilitated over 120 million transactions across 1.35 million wallets, building over 100 Web3 projects on top of its current ecosystem. In September 2022, Fuse partners with ChromePay to bring decentralized identifiers to Africa. Fuse also awarded ChromePay a grant of an undisclosed amount to build its decentralized finance and decentralized ID services directly on the blockchain .
