If you are reading this you might have recently found out about the Fusion blockchain. You have seen people talk about staking and nodes all the while using terms like Time-Lock, tickets and DCRM. You might feel a little bit lost and would like to quickly catch up to a level where you can at least follow the discussions on a reasonable level. Think of this as your quick start guide to Fusion’s tech in its current state as seen by a fellow community member.
When you are done reading this or if you just want all the juicy details at once I recommend you to check out the Fusion Zendesk as this article will only cover a select set of basic topics that usually comes up in discussions as being unclear.
The Fusion blockchain is currently in its testing phase running what is called Payable Staged Network or PSN. This is similar to testnets of other blockchain projects in most ways except that there is an opportunity for participants to earn ERC-20 FSN staking rewards by running a node and staking the native PSN token called P-FSN. You can already start checking out the features running on PSN by creating a wallet on MyFusionWallet (MFW). Remember that MFW and all the tools found there is currently used to operate on PSN, do not send your ERC-20 FSN to a MFW address directly.
More reading on PSN is available on the Fusion Zendesk.
It is important to note that PSN and P-FSN are completely separate to the ERC-20 FSN token that is currently being traded on exchanges. The ERC-20 FSN will be swapped for native FSN when mainnet is launched. This means that staking with native FSN will commence all the while the ERC-20 rewards on PSN are disabled thus rendering P-FSN worthless. Also worth noting that block rewards on main net will be four times higher than on PSN so even if you decide not to take part in PSN you still have the “main event” ahead of you.
Before you ask, no exact date has been set for mainnet launch other than the current goal being end of Q2 but in the end it will depend on how much time the testing of PSN will require until it is deemed stable enough.
TL;DR:Keep your ERC-20 FSN tokens safe in an ETH wallet until mainnet!
The next logical question if you decide you want to learn more about participating in the testing of PSN by running a node is how to aquire the P-FSN needed.
There are two ways to aquire P-FSN, the first one being the snapshot made in December 2018 of all wallets containing ERC-20 FSN at the time of snapshot. These wallets were then given the same amount of P-FSN on PSN as the number of ERC-20 FSN tokens held in their eth wallet during the snapshot, to retrieve these P-FSN you would just have to login to MFW using the same credentials as the ETH wallet. Wallets on Fusion share the same addresses as ETH but they are different chains so using wallets on either does not affect the other.
If you did not hold ERC-20 FSN in a wallet where you control the private keys during the December snapshot then you only have one option to acquire P-FSN, buying them from community members using Quantum Swap from within MFW by clicking “Swaps”. To do this you need something to trade with, the only option at the time of writing is ERC-20 FSN which first have to be locked in on PSN using the Fusion Asset Gateway. For an in-depth tutorial on using the Asset Gateway you should look at the video tutorial here.
In order to stake P-FSN you need to buy tickets that costs 5000 P-FSN and these tickets give your node one chance each to be randomly selected to validate blocks on PSN. It is difficult to gauge the ROI of running a node as it will vary depending on how many tickets are in the pool. For a more detailed explanation on block rewards see this article.
When you are weighing if it will be worth it to buy P-FSN and rent a VPS to run a node, keep in mind that when mainnet is launched P-FSN will instantly be worth nothing so knowing what P-FSN might actually be worth at any given time is essentially impossible.
When you have your P-FSN and are ready to set up your node on a VPS you should move over to the guide written by community member Iruwen here to learn more.
Quick guide on a selection of important features of Fusion that can be good to know about when following along the discussions about this revolutionary tech.
- DCRM
“The Distributed Control Rights Management System is a patented technology module that enables users to lock-in and lock-out multiple assets across blockchains on the Fusion blockchain without surrendering private keys. “
DCRM on Fusion.org
DCRM Yellow Paper (Nowhere near light reading.)
- Time-Lock
“Using the ‘Time-Lock’ function, a value, say 10 FSN, can be ‘split’ into defined periods, for example from the present time until 3 months (0, 3 months) and from 3 months until infinity (3 months, ∞). This ‘split’ has created two tradable time-based values that are defined by three parameters:, Type, Quantity and Time.”
- USAN
Universal short account number enables an easy to remember alternative to the regular wallet address.
Youtube video describing how to generate USAN
If this guide somehow helped you and you wish to show your gratitude, feel free to do so with som eth/fsn or whatever you want to:
Donations: 0xFaFCd500C32D28d0614052E1742d150e070bDa7d [FSN/ETH]
Even if you dont, the fact that you read all of it makes it all worth it. ❤
With all that said I would just like to welcome you to the Fusion community. If you havent already, join all the other fusionites in our telegram channels.