Fusion is a blockchain based on the Ticketed Proof-of-Stake (TPoS) consensus protocol. How does it work? What’s its history? Would you like to know? Let’s get started!
For stacking on TPOs, validators buy tickets for FSN project tokens.
The Fusion network selects tickets randomly. Their owners get the right to sign the next block. Validators receive rewards — 2.5 FSN and transaction fees per block. The profitability of FSN staking can be calculated on stakingrewards.com.
FSN is a Fusion native token. It is necessary to pay transaction fees, launch smart contracts, and purchase staking tickets.
The number of FSN is issued is limited to 81,920,000 FSN. Fusion staking costs 5000 FSN per ticket.
What is Time Lock?
Time Lock (TL) is a technology for dividing FSN into parts by time-cost: with a limited lifetime (TL FSN) and unlimited (FSN∞).
The user specifies the lifetime of the TL FSN when splitting the token. It is visible to other Fusion users and network smart contracts.
TL FSN will burn down on July 15. After that, FSN∞ will turn into FSN
The market value of TL FSN is less than that of full FSN. It is determined by the benefits available during the token’s lifetime.
When the TL FSN’s existence ends, the tokens burn out. The corresponding FSN is changed to FSN.
Time Lock can be compared to an interest-bearing loan or renting out a property.
Example:
Alice bought a book for $10. Bob borrowed it for a month and paid Alice $1. Alice still owns the book. At the same time, Alice cannot read or transfer the book until Bob returns it.
Now imagine that Alice bought FSN. She divided the token into TL FSN with an existence period of 30 days and FSN∞ and then sold TL SN to Bob. Alice will not be able to dispose of FSN∞ until Bob’s TL FSN burns out.
To split tokens, you need to send a transaction from a wallet with Time Lock support. The user selects the transaction type:
- Null — send FSN;
- Timelock — split FSN and send TL FSN;
- Forever — split FSN and send FSN∞.
The owner sets the lifetime of the TL FSN in months
Time Lock allows you to invest or delegate tokens without risk. Users transfer TL FSN for the time after which the tokens will burn out. At the same time, the FSN will remain in the owner’s wallet.
Example:
An investor put money into a TL FSN DeFi project, but hackers broke into the smart contract and stole the tokens. The investor will not lose any money. When the TL FSN burns down, the investor will have full access to the FSN.
Users can purchase temporary stacking tickets for 5000 TL FSN and send tokens to stacking pools. After the tokens’ lifetimes expires, TL FSN will automatically return to the owners.
Example:
Alice divided 10,000 FSN into two parts: TL FSN with a lifetime of 30 days and FSN∞. Bob bought 10,000 TL FSN for 50 FSN and sent the tokens to staking. In a month, Bob will earn 100 FSN, and Alice will have access to 10,000 FSN. She will be able to split and sell the tokens again.
FRC758 is a token standard with Time Lock technology support. Using FRC758, you can tokenize assets like BTC and USD, and then divide them into parts by time-value.
TL tokens are tokenized assets with a limited lifetime.
The owner can send tokens of the FRC758 standard to another user or sell them on a decentralized exchange.
Other ways to use TL tokens:
- Cryptocurrency loans. The owner can issue them without intermediaries;
- Liquidity pools. The investor invests tokens without the risk of losing assets;
- Renting a property or NFT. The token acts as a temporary key to access the property.
Example:
The car’s owner created and sold a TL token that grants access to the vehicle. The token owner has the option of driving a car or transferring the TL token to another person. When the token burns out, the owner regains control of the vehicle.
FSNs are traded on Huobi, AnySwap, MXC, Hotbit, OKex, Bittrex, Bibox, UpBit, Citex, and COINBIG.
TL FSN will be traded on Chainge Finance, AnySwap, and other decentralized platforms.
Fusion recommends storing FSN in Whallet or My Fusion Wallet with Time Lock support:
- Separating FSN into TL FSN and FSN∞;
- Combining suitable TL FSN and FSN∞ into FSN;
- Displaying the balances of FSN, TL FSN, and FSN∞ in the wallet.
We’d love to hear your thoughts on Fusion and Time Lock tecnology in the comments below. If you like this article, subscribe to our Medium Feed for more content like this. Stay tuned!
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