Layer-1 blockchain Fuse stated that it would commit $10 million to “reinvigorate the Fuse ecosystem and drive growth in multiple areas”.
The “Fuse Ignite” program is divided into grants and liquid incentives. According to developers: Depending on the focus of their idea or service, teams may apply for grants of $5,000 to $25,000.
When deploying on the Fuse Network, DeFi projects are eligible to apply for incentives intended to increase liquidity and overall user activity. Fuse Ignite operator grants are distributed in both Fuse Tokens (FUSE) and USD Coin (USDC) following application clearance.
Operators power payment services with the use of the Fuse Network blockchain and other resources. Additionally, the $10 million budget includes funds for community airdrops and adoption incentives.
Users must maintain a minimum amount of Fuse, contribute liquidity for supported projects, bridge assets, and engage in regular transactions in order to participate.
The debut of Fuse Ignite also coincides with the impending deployment of a launchpad on Voltage Finance, which is intended to be the go-to option for new tokens wishing to enter the Fuse ecosystem.
Last year, Fuse’s market capitalization peaked at close to $300 million, and its total value locked increased to $40 million. The project claims to have enabled over 120 million transactions across 1.35 million wallets since its launch in 2019, with more than 100 Web3 projects expanding on its present environment.
Fuse and ChromePay joined together in September 2022 to introduce decentralized IDs to Africa. In addition, ChromePay has received a grant from Fuse for an unknown sum to develop its decentralized ID and financial services on top of the blockchain.
