In times of great crypto diversity, it can be sometimes difficult to find a coin or a token that will suit your needs and share your beliefs. Today we will talk about the Fuse token and what will make it a great addition to the CoinRabbit tokens family. Read this article in full to find out all the essential information!
Table of contents
- Fuse Network – what exactly is it?
- Insights on the FUSE Token
- Reasons for FUSE lending
- Using FUCE as collateral at CoinRabbit
- What should I do to get a FUSE loan?
- Bottom Line
Fuse Network – what exactly is it?
First of all, let’s look into Fuse Network project just to have some clue what the fuse is about.
Fuse Network was created back in 2019 and its global aim is to modernize the existing payment and exchange systems. With the help of Fuse Network, the core team hopes to create a very simple yet fast and low-cost payment system that will exclude any third party from the process and make day-to-day activities and purchases available for everyone.
Basically, Fuse Network was conceived as a proper layer-1 Ethereum Virtual Machine (EVM)-compatible chain, which then moved to its own network with a help of a bridge and took its token with them. The reason behind it is not to compete with Ethereum, but rather focus on a specific use case, namely crypto payments.
Fuse network uses DPoS model (Delegated Proof-of-Stake) as its consensus mechanism and is supported by a group of validators to validate the transactions. Besides, the validators and the delegators receive the FUSE tokens as a reward for staking their tokens.
Insights on the FUSE token
The FUSE token is a native token of Fuse Network that runs on the Fuse Network blockchain, but there are bridge-enabled versions of it on other chains, including Ethereum and Binance Smart Chain.
At the moment of writing this article in February 2022, the FUSE token price is $0.63 and it reached its All-Time High just one month ago (January 2022) at $2.19. As you can see, FUSE has a really great potential for growth in the near future, and CoinRabbit is happy to increase FUSE adoption in the crypto community!
Among FUSE key features, there are some to be distinguished:
- Fuse token holders can use their FUSE to pay for the network fees in order to approve transactions.
- FUSE holders can stake their tokens to get some great rewards! At the point when one reaches 100K of FUSE holdings, they can become network validators if they meet the pool of requirements.
- Those who have less than 100K Fuse tokens can still delegate their holding to FUSE validators in order to earn rewards by staking their assets.
- Approved validators can participate in the network governance. The more FUSE the validator is delegated, the more their vote weights in terms of governance activities such as governance changes or the Fuse Network updates.
However, this is not a full list of FUSE use cases. In the near future with the help of CoinRabbit, we will increase the token adoption together by adding it to our collateral option. Take a closer look at the top-3 reasons why Fuse token lending will become a thing.
Reasons for FUSE lending
Fuse token is a highly promising market for investors. The following are reasons why you might want to take a FUSE loan:
One of the ways to make a profit on your FUSE loan is by staking the assets, as mentioned above. Fuse Network allows users with more than 100K to stake their tokens or to turn to a validator if they have less than 100K.
Taking out a crypto-backed loan to buy more FUSE can become a great option for those who don’t have enough tokens to stake on their own, or still be a way of earning even more rewards by staking for those who have already reached 100K of holdings. This allows you to repay your loan and retain an amount in profit.
- Price movements
In terms of price, FUSE growth has been fairly consistent. It has been predicted that the coin will witness an upward swing in the coming years. To take advantage of this, you can get a FUSE loan and sell at a higher price in the future, helping you hit the bullish targets of your investment.
- Achieve your goals that need some extra money
Want to buy a car, go traveling, make an investment, or try trading right now? If you have some FUSE tokens but don’t want to sell them, we got you covered. Borrowing from family or friends doesn’t work for everyone, getting a loan at a bank implies credit checks and annoying paperwork. When we enable FUSE as collateral, you won’t need to spend extra time doing complex procedures. Repay the loan back just when you feel that the time has come – we don’t have any timeframes.
Using FUSE as collateral at CoinRabbit
The unique approach is something we don’t usually see in the cryptocurrency sphere. While keeping in mind distinctive aspects of FUSE, we’ll try to meet all Fuse token holders requirements:
- The process of taking a FUSE loan at CoinRabbit will be quite easy as usual. Literally, a few clicks to get your funds
- It takes under 10 minutes to receive the loan
- Funds are being kept in a cold wallet and our risk management system every second checks the convergence of each transaction and instantly terminates it if something goes wrong
- We do not identify our clients, we do not know where you are from and who you are. In most cases passing KYC is not needed (except for the cases when funds were sent from a blacklisted address)
Moreover, taking crypto-backed loans at CoinRabbit provides wider adoption of the currency. Here are some perks listed for you:
- Unlock the value of your holdings without selling or switching to other currencies
- Get more FUSE by collateralizing your current holdings. Please note that FUSE will be currently available only on the Ethereum network via CoinRabbit
- Spend received crypto loans whatever you want. Let it be daily purchases or reinvestments
- No time frames. Repay the loan whenever you want, let it be in 1 year or in 1 month
- The APR is 14%. This is an annual rate, and for 1 month of using the loan, you will need to pay only 1/12th of the APR. The longer the loan is opened, the more you pay and vice versa
- No KYC required
- You only need your phone number or email to get the funds
- 24/7 customer support is always at your back
What should I do to get a FUSE loan?
- Step 1 – Do a Calculation of Your Loan
Use our simple calculator on the homepage to see the exact loan amount that you will get. You will be able to use any of the various collateral options to set up the loan. Confirm your choice, verify your email (don’t forget to enable 2FA), and enter the address where you would prefer to receive your loan.
- Step 2 – Secure Loan without Further Stress
At this stage, all you need to do is send the collateral to CoinRabbit. You will receive your payout immediately without a KYC process or additional delays.
- Step 3 – Use Your Loan
Now that you have secured your loan, the next thing is to use it for your financial purposes. While you do this, CoinRabbit will notify you multiple times of changes in market rates, if there are any.
- Step 4 – Payback
When you’re done utilizing your funds, you can pay the loan back to CoinRabbit and regain your collateral. Simply send the payment in full and be deposited in return.
In conclusion, we want to emphasize that Fuse Network is a truly unique project that aims to bridge the gap between two worlds: crypto and the real one. The network has been in the blockchain space for quite a long time now and its core team is constantly working to upgrade its products’ features. Collaboration with CoinRabbit is one of few steps to help grow the FUSE token and its network even more. Stay tuned to be the first to use FUSE as collateral in the upcoming weeks!