Uses of FSN token
Many cryptocurrencies, can only be bought, sold or sent to another address and that's about it. Others can also be staked, used to provide liquidity, be voted with, be used as collateral for lending and used in various smart contracts. Mainnet coins are also often used as gas.
FSN can do most of these things, and can also do something that's completely unique. It can be time-sliced. Though other assets will eventually be able to be time-sliced on Fusion as well, the fact that FSN can be time-sliced while natively owned, will still make it unique.
Staking your FSN is a way to extract interest from it while helping to secure the network. Time-sliced FSN is used to buy tickets for a node, which will have a chance to win a lottery to sign the next block. The more tickets you have, the higher the chance of winning. Each block reward consists of a set amount + a gas amount. Though this staking game may sound quite advanced, it's quite predictable and can be converted into a more or less set interest rate, which can be calculated here. Thus safe and easy way to earn interest from your FSN and you have the option of doing it yourself, or sharing time-sliced FSN with a pool, which is even easier.
Providing liquidity for FSN is mainly done on the Fusion version of AnySwap but can be done on any version of AnySwap by aid of the AnySwap Bridge. It's also possible to create new liquidity pairs with aFSN on other swap DEXs for those who desire to do so. The benefit of providing liquidity is that every time someone swaps, the liquidity pool will collect a small fee that gets added to the pool. In addition to this (at least on AnySwap) you can submit your paired liquidity into a farm which will earn you additional rewards in the form of ANY.
Providing liquidity carries with it some risk, especially if the value between the provided assets change greatly in value. But if price ratio is relatively stable the fees and rewards will make up for the losses from value disparity. Look at AnySwapInfo for detailed information on various choices for liquidity provision.
By creating a time slice and giving this to someone else, you allow them to use that to extract interest and gain a little FSN with time. This is quite interesting, because it allows you to make a donation, or even a payment, without actually losing any FSN. Thus it's possible to make use of a stack of FSN as payment eternally, without actually ever decreasing the stack. An interesting fact that can easily get your imagination to get carried away.
In order to make use of the Fusion blockchain you need some FSN to perform transactions. This usecase is something that has defined Ethereum. Read more here about FSN as gas and various transaction types.
Last modified 2yr ago